Silver X Mining – Comprehensive Update On Production Growth, Revenue Growth, and Resources Growth
Sebastian Wahl, VP of Corporate Development and Director of Silver X Mining (TSX.V: AGX) (OTCQB: AGXPF), joins us for a comprehensive update on operations and exploration at the Nueva Recuperada Project in the prolific Huancavelica silver belt, in central Peru. We start off by discussing the production output from the operations at the Tangana Mine, where the company is generated record quarterly operating revenues of $5.5 million, representing a 73% increase from previous quarter and record quarterly operating earnings attained of $2.0 million.
We also reviewed the record monthly silver equivalent ounces processed in August of 195,039, and the low cash costs of $11.0 per silver equivalent ounce, and All-In-Sustaining Cost (AISC) of $15.8 per AgEq ounce produced. This comes back to the quality of the ore, the experience of the operations team, and the significant co-credits from both gold and base metals from the Tangana Mine area.
Next shifted over to exploration and expansion of resources, not just around the Tangana Mine, but also at the Esperanza Project and developing Plata Mine, and at other regional targets. There will be coming resource updates, not just in size but in quality of the resources next year, as well as a coming PEA for moving Plata towards production in 2024. The company sees a trajectory of ongoing production growth, revenue growth, and resource growth moving into next year.