Silver X Mining Corp. Announces Q3 2024 Financial Results

Silver X Mining Corp. has reported its financial results for the third quarter of 2024. The company experienced a notable revenue increase, securing $5.0 million compared to $2.1 million in the same quarter of the previous year. This increase in revenue contributed to a reduction in net loss before tax, now at $1.9 million compared to a previous $2.3 million.

Operationally, Silver X Mining reduced its cash cost per tonne from $148 to $100, a 32.3% decrease, enhancing its production efficiency. The all-in sustaining cost was $26.2 per silver equivalent ounce, a 30.7% decrease from the prior year, driven partly by capital expenditure in the Tangana mining unit.

Adjusted EBITDA showed a significant improvement, with a reduced loss of $0.1 million, compared to a $1.0 million loss in Q3 2023. This positive trend aligns with the company’s strategy for future growth as it prepares for potential improvements in 2025.