Silver X Mining
Silver X Mining Corp. is a Canadian-listed silver producer (TSX-V: AGX, OTCQX: AGXPF) operating the Nueva Recuperada district in Peru through its subsidiary Recuperada S.A.C., selling polymetallic concentrates from a 720 tpd processing plant to global smelters and refineries.
- Company typePublic
- Founded2020
- HeadquartersVancouver, Canada
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Silver X Mining does
Silver X Mining Corp. (TSX-V: AGX; OTCQX: AGXPF) is a Canadian-domiciled, Vancouver-headquartered silver mining and production company operating the Nueva Recuperada Silver District in central Peru through its wholly owned Peruvian subsidiary, Recuperada S.A.C. The company runs a 720 tonnes-per-day conventional crushing, grinding, and flotation processing plant at Nueva Recuperada that produces silver, gold, lead, and zinc concentrates, with current throughput at approximately 750 tpd and a stated expansion path to 1,000 tpd by Q3 2026 and ~6 million silver-equivalent ounces annually by 2029.
The business is built on a district-scale platform: a consolidated land package of over 20,795 hectares containing the Tangana Mining Unit (currently producing), the Plata Mining Unit (development, planned for 2026 commissioning), the Red Silver Mining Unit (exploration, inferred ~1.9 Mt at 496 g/t Ag), and over 200 exploration targets. The company has expanded via acquisition of the 7,712.5-hectare Pampas Gold-Silver Project in March 2026 and the Ccasahuasi Gold Project (Lily 19 concession) acquired from Barrick Mining Corporation in June 2026. Resource estimation follows NI 43-101 standards using Leapfrog Geo and Datamine RM, validated by a Qualified Person, with independent assays by Bureau Veritas Minerals.
Silver X generates revenue by selling polymetallic concentrates to global smelters and refineries under offtake agreements priced against international commodity benchmarks (silver, gold, lead, zinc) with treatment and refining charges and payability terms applied. The company raised C$69 million in secured convertible debentures in March 2026 and graduated to the OTCQX Best Market in May 2026 to broaden U.S. investor reach. Reported 2025 net operating revenue was $25.2 million (up 16% year-over-year) and Q1 2026 net operating revenue reached $13.4 million (up 155% year-over-year), with Q1 2026 marking a swing to $4.6 million in net income versus prior-period losses. The company was formed from the 2022 business combination of ORO X Mining Corp. and Mines and Metal Trading (Peru) PLC, with predecessor entity origins in 2020.
Silver X Mining firmographics
Firmographics- Name
- Silver X Mining
- Legal name
- Silver X Mining Corp.
- Website
- https://silverxmining.com
- Company type
- Public
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Silver X Mining Corp. is a Canadian-listed silver producer (TSX-V: AGX, OTCQX: AGXPF) operating the Nueva Recuperada district in Peru through its subsidiary Recuperada S.A.C., selling polymetallic concentrates from a 720 tpd processing plant to global smelters and refineries.
- Ownership category
- akta.pro rank
Silver X Mining industry classification
Industry- Product category
- Silver and Polymetallic Mining
- NAICS
- Gold Ore and Silver Ore Mining (21222)
- SIC
- Gold And Silver Ores (1040)
- akta.pro primary industry
- Silver Mining (IMAKAEAB)
- akta.pro secondary industries
- Gold Mining (IMAKAEAA), Precious Metals Ore Processing & Beneficiation (IMAKAEAD)
Keywords
Where Silver X Mining is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
Silver X Mining business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Supply Chain, Infrastructure, Technology or R&D, Others
Revenue model
- Metal Concentrate Sales: Silver X generates revenue primarily through the sale of silver, gold, lead, and zinc concentrates produced at its Nueva Recuperada processing plant. The company sells concentrates to smelters and refineries under offtake agreements with treatment charges, refining charges, and payability terms based on international benchmarks.
- Precious Metals Production: Revenue from production of silver, gold, lead, and zinc metals extracted from the Tangana Mining Unit and other operations in the Nueva Recuperada Silver District. Q1 2026 net operating revenue was $13.4 million, up 155% year-over-year.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels6 records
Silver X Mining product offering
Product offeringCore offering
Silver X Mining is a silver and polymetallic mining company that extracts and processes silver, gold, lead, and zinc ore at its Nueva Recuperada Silver District in central Peru, producing metal concentrates for sale to global smelters and refineries. The flagship Tangana Mining Unit is currently processing approximately 750 tonnes per day with plans to expand to 1,000 tpd, targeting approximately 6 million silver-equivalent ounces annually by 2029. The company's district-scale land package of over 20,000 hectares encompasses producing, development-stage, and exploration-stage projects including Tangana, Plata, Red Silver, Pampas, and Ccasahuasi.
Product overview
Silver X Mining is a silver mining and production company operating a platform-plus-portfolio model centered on its Nueva Recuperada Silver District in central Peru. The district-scale platform comprises three mining units: Tangana (currently producing at ~750 tpd), Plata (development stage, coming online 2026), and Red Silver (exploration). The company also holds an exploration portfolio including Tangana West, San Antonio, Tetehorno, and Victoria projects, plus recently acquired Pampas Gold-Silver Project and Ccasahuasi Gold Project. The integrated operation produces silver, gold, lead, and zinc concentrates targeting approximately 6 million AgEq ounces annually by 2029.
Differentiator
Problem solved
Functional benefit
Products and services
- Nueva Recuperada Silver District A district-scale polymetallic silver producing district in central Peru comprising three mining units (Tangana, Plata, and Red Silver), covering over 20,000 hectares with over 200 exploration targets. The district produces silver, gold, lead, and zinc concentrates for sale to smelters and refineries.
- Tangana Mining Unit The company's flagship operating mine producing silver, gold, lead, and zinc. Currently processing approximately 750 tonnes per day, with expansion toward 1,000 tonnes per day targeted for Q3 2026.
- Plata Mining Unit An advanced silver-polymetallic development project historically known for higher-grade mineralization, with 17 known mineralized veins across 3,829 hectares, expected to come online in 2026.
- Ccasahuasi Gold Project A volcanic-hosted disseminated gold system covering approximately 1,350 hectares within the Nueva Recuperada district, hosting an Inferred Mineral Resource of 42,303 oz Au (1,405,587 tonnes grading 0.936 g/t Au) defined with only 903.5 meters of drilling.
- Pampas Gold-Silver Project A 7,712.5-hectare epithermal gold-silver project in Huancavelica, Peru, with 36 mapped gold-silver veins and historical rock chip samples returning up to 85.9 g/t Au and 1,065 g/t Ag.
- Silver-Gold-Lead-Zinc Concentrates Metal concentrates containing silver, gold, lead, and zinc produced at the 720 tpd Nueva Recuperada flotation processing plant, sold under commercial offtake agreements to global smelters and refineries with treatment charges, refining charges, and payability terms based on international commodity benchmarks.
Quantifiable outcome
- 2025 full-year revenue of $25.2 million, up 16% year-over-year
- +4 more outcomes
Companies that use Silver X Mining
Customer profileSegments1 record
Ideal customer profiles1 record
Silver X Mining technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Silver X Mining partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Barrick Mining CorporationstrategicSold the Lily 19 mining concession to Silver X for US$30,000 cash plus a net smelter return royalty, consolidating full ownership of the Ccasahuasi gold project. This was a bilateral negotiated agreement directly with one of the world's largest gold producers.
Scale indicators11 records
Recent moves8 records
Expansion highlights6 records
Silver X Mining competitors and assessment
Company assessmentDirect peers
- Hochschild Mining: London-listed precious metals miner with primary operations in Peru (Inmaculada, Pallancata) producing silver and gold. Most directly comparable to Silver X due to overlapping Peruvian polymetallic focus, similar underground mining methods, and concentrate offtake model.
- Fortuna Silver Mines: Mid-tier silver and gold producer with operations in Latin America producing silver-gold concentrates. Comparable in scale, polymetallic concentrate model, and growth-via-acquisition strategy.
- Bear Creek Mining: Silver-focused developer with the Corani silver project in Peru. Comparable due to Peruvian silver asset focus and junior miner profile with a single district-scale asset advancing toward production.
- Endeavour Silver: Mid-tier silver producer operating mines in Mexico (Guanaceví, Bolañitos) producing silver-gold concentrates. Comparable in business model (underground mining, concentrate offtake to smelters), scale, and silver-equivalent ounces production growth strategy.
- First Majestic Silver: Established silver producer with multiple Mexican operations (San Dimas, Santa Elena, La Encantada). Comparable in concentrate production model, silver-equivalent ounce focus, and TSX-listed mid-tier silver positioning.
- MAG Silver: Silver-focused miner with Juanicipio project in Mexico (joint venture with Fresnillo). Comparable in silver-focused district-scale asset model and TSX-listed mid-tier profile, though at a more advanced development stage.
- Avino Silver & Gold Mines: Junior silver-gold producer operating the Avino mine in Mexico, producing silver, gold, and copper concentrates. Comparable in junior silver-producer profile, concentrate offtake model, and capacity expansion trajectory.
- SilverCrest Metals: Silver-gold producer with the Las Chispas mine in Mexico. Comparable in junior-to-mid-tier silver producer profile, high-grade underground mining, and rapid production growth trajectory from a single district-scale asset.
Broad incumbents
- Pan American Silver: Major silver producer with diversified global operations across the Americas. Comparable as a major silver producer with Peruvian asset history (originally a seller of Nueva Recuperada concessions to Silver X), though significantly larger and more diversified than the subject.
- Hecla Mining: Largest US-based silver producer with operations across North America (Greens Creek, Lucky Friday, Casa Berardi). Comparable as a major silver-focused producer with concentrate offtake model, but at substantially larger scale and with broader geographic diversification.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key highlights7 records
Customer concentration
Silver X Mining social profiles
Digital presenceSilver X Mining financial estimates
Financial estimateRevenue estimate
Valuation estimate
Silver X Mining leadership team
Management profileNumber of profiles
Profiles8 records
Silver X Mining subsidiaries and ownership
Company hierarchySubsidiaries3 records
Silver X Mining funding detail
Funding detailFunding overview
Funding rounds9 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Silver X Mining M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Silver X Mining
What does Silver X Mining do?
Silver X Mining is a silver and polymetallic mining company that extracts and processes silver, gold, lead, and zinc ore at its Nueva Recuperada Silver District in central Peru, producing metal concentrates for sale to global smelters and refineries. The flagship Tangana Mining Unit is currently processing approximately 750 tonnes per day with plans to expand to 1,000 tpd, targeting approximately 6 million silver-equivalent ounces annually by 2029. The company's district-scale land package of over 20,000 hectares encompasses producing, development-stage, and exploration-stage projects including Tangana, Plata, Red Silver, Pampas, and Ccasahuasi.
Is Silver X Mining a public or private company?
Silver X Mining is a public company. It is classified as public and is currently operating.
When was Silver X Mining founded?
Silver X Mining was founded in 2020. It employs 51 to 100 people.
Where is Silver X Mining based?
Silver X Mining is headquartered in Vancouver, Canada, in the North America region.
How does Silver X Mining make money?
Two revenue lines are on record. Metal Concentrate Sales are the primary driver. The others are precious Metals Production.
Who are Silver X Mining's main competitors?
Direct peers on record are Hochschild Mining, Fortuna Silver Mines, Bear Creek Mining, Endeavour Silver, First Majestic Silver, MAG Silver, Avino Silver & Gold Mines and SilverCrest Metals. Broad incumbents are Pan American Silver and Hecla Mining.
Does Silver X Mining have an API?
No public API is recorded for Silver X Mining.
What industry is Silver X Mining in?
Silver X Mining's product category is Silver and Polymetallic Mining. Its primary akta.pro industry code is IMAKAEAB, Silver Mining, with a secondary code of IMAKAEAA, Gold Mining. Its NAICS code is 21222 and its SIC code is 1040.