on Silver X Mining Corp. (isin : CA8283411079)
Silver X Mining Corp. Reports Strong Financial Results for Q2 2024
Silver X Mining Corp. has announced its financial outcomes for the second quarter of 2024. The company generated $6.2 million in revenue, marking a 31% increase over Q1 2024 and a 34% rise compared to Q2 2023.
The company moved to an operating income of $0.5 million from an operating loss of $0.4 million in Q2 2023. EBITDA was positive at $1.9 million, and adjusted EBITDA was $0.8 million, a significant turnaround from negative values in the previous year.
The cost per Silver Equivalent ounce produced was $18.8, while the All-In-Sustaining Cost was $25.9 per ounce, reflecting investments in the Tangana mining unit. Silver X processed 362,714 oz AgEq in the quarter, aligning with Q1 2024.
CEO Jose Garcia emphasized the company’s focus on cost reduction, aiming to optimize mine operations and improve margins. Silver X remains on track to sustain daily production over 700 tonnes, promoting growth and shareholder value.
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