Silver X Mining Corp. Reports Record 2Q26 Revenue of $17.3M, up 29% over 1Q26, and $7.7M of First-Half Net Income

Silver X Mining Corp. (AGX) reported second-quarter 2026 financial results on August 6, 2026. The company posted record net operating revenue of $17.3 million, representing a 29% increase quarter-over-quarter and a 221% rise year-over-year. Adjusted EBITDA reached $6.9 million, up 17% from the prior quarter, while operating income stood at $7.5 million. Net income for the period was $3.1 million, bringing first-half net income to $7.7 million, marking the first profitable half-year in the company’s history.

These financial gains occurred alongside a $4.1 million decline in cash to $49.7 million during the quarter, as the company invested heavily to ramp throughput. Production figures had been pre-released on July 9, with the new data highlighting realized margins and declining unit costs. All-in sustaining costs (AISC) fell 13% quarter-over-quarter to $46.10 per AgEq ounce. Silver X reaffirmed its 1,000-tpd run-rate target for the third quarter of 2026.

Silver X Mining Corp. (AGX) released its August 6 financial report, adding revenue and operating income figures to the production data disclosed in the July 9 pre-release. Revenue and operating income slightly exceeded expectations, while the all-in sustaining cost (AISC) declined sequentially, indicating operating leverage.

Net income fell 33% quarter-over-quarter to $3.1 million, weighed down by a full quarter of 10% interest on the $50.3 million convertible debenture. The company burned $4.1 million in cash despite reporting profitability, reflecting heavy growth capital expenditures.

Silver X Mining Corp. is a producing precious and base metals company operating the Nueva Recuperada district in Huancavelica, Peru. The company’s flagship Tangana Mining Unit is currently in production, with the processing plant operating at a nominal capacity of approximately 750 tonnes per day. Silver X Mining Corp. also holds the Plata Mining Unit, for which a restart is planned, along with the Red Silver high-grade silver target and the Blenda Rubia polymetallic zone. Additionally, the company recently acquired the Pampas gold-silver project, encompassing 7,712 hectares.

A 2025 Preliminary Economic Assessment (PEA) outlines a potential 14-year operation with a capacity of 3,000 tonnes per day, which could yield 6.2 million ounces of silver equivalent per year. This scenario requires significant capital expenditure and permitting. Currently, the company has no proven or probable reserves, and all output is derived from mineral resources.