Significant Financial Growth Reported for Central Peru Mining Project in Q1 2024

Key catalysts driving the company's potential include the active expansion and development of operations, particularly through significant investment in the Tangana mining unit. The $1.8 million investment not only adds to the company’s All-In Sustaining Cost but is crucial for accessing new production fronts and transitioning to higher-grade areas, expected to substantially improve output and reduce overall production costs.

Additionally, Silver X recently completed a non-brokered private placement that raised C$5 million. This capital infusion is earmarked for further development of its mining projects, supporting the company’s strategy to strengthen its financial base and ensure continued operations and expansion. CEO Jose Garcia highlighted the strategic nature of this funding and its role in the company's ongoing cost-reduction initiatives, which are starting to yield positive results.

"As a result of the operational reset between July and September last year, we have managed to streamline operations, improve performance, and run the mine at a more competitive cost," Garcia remarked. "Those economic results will be published in the next few weeks. We continue to forge ahead in increasing throughput and to improve head-grades by better ore selectivity and more robust mine development. I look forward to a successful 2024 year ahead for Silver X."

Operational efficiencies are another focal point for Silver X, with several cost reduction strategies beginning to bear fruit, evidenced by the positive EBITDA in the first quarter. Garcia also noted the potential for these initiatives to drive further enhancements in operational performance, aiming to increase performance throughout 2024, thereby fostering growth and value creation for shareholders.

Analysis From Outside Experts

Red Cloud Securities mining analyst Timothy Lee wrote of the company in an April 25 research note, stating, "The stepwise improvement from Q4/23 to Q1/24 contrasts with the company's pre-shutdown quarterly volatility in operational performance. Overall, this is a positive step in the ramp-up of production at Nueva Recuperada."

Technical analyst Clive Maund had this to say about silver's prospects, and Silver X specifically, in a report on February 12, "Notwithstanding any short-term fluctuations, the medium and long-term outlook for the silver price could scarcely be better as it is considered to be probably the most undervalued asset in the world, especially when we consider the grim prospects for the dollar and fiat generally and needless to say this is expected a huge impact on the fortunes of the company going forward."

He added, "In conclusion, with Silver X now at a very low price and close to strong support, and the company's fundamental prospects rapidly improving, it looks like a Buy here for all timeframes."

Ownership and Share Structure

According to Reuters, Silver X has 172.74 million shares outstanding and 124.08 million free-float traded shares.

Silver X said management and insiders own approximately 17% of the company. According to Reuters, President and CEO Jimenez Jose Maria Garcia owns 8.24% of the company, Vice President Sebastian Wahl owns 8.35%, Director Michael Hoffman owns 0.23%, and CFO Ronald Anibal Marino Sanchez owns 0.06%.

The company said institutional investors own 23%. Some listed by Reuters include Baker Steel Resources Trust Ltd. owns 11.29%s, US Global Investors Inc. owns 4.63%, and Sprott Asset Management LP owns 1.07%.

Retail investors own the remaining.

Silver X has a market cap of CA$39.98 million and a 52-week trading range of CA$0.16−0.41 per share.

Important Disclosures:

1. Silver X Mining Corp. a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000. 
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Silver X Mining Corp.
3. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
4.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

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