Silver X Mining Launches Brokered Private Placement of Up To C$60M in Convertible Debentures
Silver X Targets District-Scale Expansion via C$60 Million Financing as High-Grade Silver Production Accelerates
The most recent news (January 27, 2026) announces that Silver X has launched a brokered private placement to raise up to C$60 million through Secured Convertible Debentures. This follows the January 26, 2026, announcement of drilling results at the Blenda Rubia mine, where the company intersected high-grade mineralization (up to 505 g/t Ag) and extended the known mineralization 160 meters below historic workings. Additionally, the company reported strong Q4 2025 operating results on January 8, 2026, showing a sequential increase in processed tonnage (41,635 tonnes) and silver equivalent (AgEq) production (266,995 oz), notably benefiting from an average realized silver price of US$55/oz.
The C$60 million financing is a "Game Changer" as it provides the necessary capital to bridge the gap between small-scale production and the 3,000 tonnes per day (tpd) target outlined in the October 2025 Preliminary Economic Assessment (PEA). - Financing Scale: The C$60M ask is significant relative to the company's recent market cap expansion. If successfully closed, it funds the majority of the US$82 million initial capex required for the Nueva Recuperada expansion. - Resource Validation: Drilling at Blenda Rubia and channel sampling at Red Silver (735 g/t Ag) suggest the high-grade nature of the district is holding at depth and laterally, which is critical for supporting the 14-year mine life projected in the PEA. - Operational Momentum: The transition from a net loss position in early 2025 to generating positive EBITDA and approaching pre-tax profitability by mid-2025 validates the management's ability to ramp up the Tangana unit. - Realized Pricing: The reported realized silver price of US$55/oz in Q4 2025 provides massive cash flow leverage, though it represents a significant premium over historical averages and should be viewed with caution regarding sustainability.
Silver X Mining Corp. operates the Nueva Recuperada Silver District in Huancavelica, Peru. The district covers over 20,000 hectares with over 200 identified targets. - Flagship Project: Nueva Recuperada (Tangana and Plata Mining Units). - Stage: Production / Expansion. - Resources: 35.6M oz AgEq (Measured & Indicated) and 116.6M oz AgEq (Inferred). - PEA Highlights: After-tax NPV (5%) of US$440M and 69% IRR, targeting 6.2M oz AgEq annual production.