Earnings
Silver X Mining Corp. Sustains Pre-Tax Profitability Through 2Q25
AGX · Price
Executive Summary
- Silver X Mining reported a dramatic improvement in profitability for the six months ended June 30 2025, turning a $539 k pre‑tax loss in 1H 2024 into a $166 k pre‑tax profit in 1H 2025.
- Net loss narrowed 71% year‑over‑year to $410 k (down from $1.4 M) and 52% quarter‑over‑quarter to $79 k in Q2 2025.
- Operating income surged ~200% YoY, reaching $847 k in Q2 2025, driven by lower depreciation, reduced cost of sales and tighter G&A expenses; EBITDA remained positive at $0.5 M for the quarter.
Key Details
- Processed tonnage: 75,099 t (‑9% YoY); Q2 2025 = 34,899 t (‑22% vs. Q2 2024).
- Average AgEq head grade: ↓3.0% YoY in Q2 2025; ↓12.0% for the six‑month period.
- Mine development: 1,788 m completed in 1Q 2025, expanding access to higher‑grade zones.
- Exploration drilling: 2,253 m drilled in Q2 2025 (on track with 8,000 m target for 2025).
Financial Highlights – Quarter (Q2 2025 vs. Q2 2024)
| Metric | Q2 2025 | Q2 2024 | % Change |
|---|---|---|---|
| Net operating revenue (concentrate sales) | $5.4 M | $6.2 M | –14% |
| Cost of sales | $4.5 M | $5.7 M | –21% |
| Operating income | $847 k | $547 k | +55% |
| Net loss | $79 k | $164 k | –52% |
| EBITDA | $0.5 M | $1.9 M | –74% |
| Depreciation expense | ↓83% (driven by higher Measured & Indicated Resources) |
Financial Highlights – Six‑Month (6M 2025 vs. 6M 2024)
- Pre‑tax income: $166 k vs. loss of $539 k (↑131%).
- Net loss: $410 k vs. $1.4 M (↓71%).
- EBITDA: $908 k vs. $2.2 M (down 59%).
-
Adjusted EBITDA: $804 k vs. $1.2 M (down 34%).
-
Financing: Net cash provided by financing activities = $1.8 M, primarily from a private placement closed March 13 2025.
Cost Metrics
- AISC per AgEq ounce: $30.3 in Q2 2025 vs. $23.5 in Q2 2024 (↑28.6%).
- AISC per tonne processed: $180.8 in Q2 2025 vs. $149.9 in Q2 2024 (↑20.6%).
- Increase driven by capital expenditures on the Tangana Mining Unit and revised G&A cost methodology.
Non‑IFRS Measures
- Cash costs, AISC, EBITDA and Adjusted EBITDA disclosed for investor insight; all non‑IFRS ratios explained in release.
Notable Quotes
“Silver X continues to make steady progress, with consistent improvements in operating income, pre‑tax earnings, and EBITDA… a modest infusion of capital will serve as a catalyst to unlock the full potential of one of Peru’s most prolific yet underdeveloped silver and gold districts.” – José M. Garcia, CEO & Director
The release contains forward‑looking statements regarding future production, financing needs and operational performance.
More from Silver X Mining Corp.
Jul 22, 2026 · 07:35