AGXPF - Silver X Mining CEO says strategic reset positions the company for growth in 2024 and beyond
(NewsDirect)
Silver X Mining Corp. CEO José Garcíajoined Proactive's Stephen Gunnion with details of thecompany's third-quarter performance and a strategic operationalreset that positions the company for growth in 2024 and beyond.
The pause in operations was prompted byunderperformance in 1Q and 2Q, with declining grades and operationalchallenges. The company realigned its main plan, focusing on areaswith better grades and established a new alliance with contractors toensure improved production.
Thetemporary shutdown of operations at Recuperado impacted 3Q financials,but García anticipates competitive production costs in 4Q. Despitechallenges, he expressed confidence in profitability.
Recuperado's transformation into asignificant silver project remains on track, with plans to reach 2million ounces of silver equivalent annually by 2024.
García highlighted a 12-year extension ofthe social agreement with the local Huachocolpa community in Peru,emphasizing positive relationships.
He also discussed arestructured royalty agreement with Maverix Metal, a subsidiary ofTriple Flag Precious Metals.
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