Is Silver X Mining’s (TSXV:AGX) Gold-Fueled Output Shift Quietly Redefining the Nueva Recuperada Story?

• Silver X Mining Corp. previously reported strong fourth-quarter 2025 operating results at its Nueva Recuperada project in Peru, including a 24% increase in processed tonnage, a 17% rise in silver equivalent ounces, and a very large jump in gold output, supported by continued mine development and a 40,000-metre drilling program.
• Beyond near-term production gains, the combination of improved grade consistency, stronger gold contribution to revenue, and ongoing underground investment highlights how Silver X Mining is working to reinforce the long-term potential of the Nueva Recuperada district.
• We will now examine how the company’s higher gold output and bolstered production profile influence Silver X Mining’s broader investment narrative.

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What Is Silver X Mining’s Investment Narrative?

To own Silver X Mining, you need to be comfortable backing a small, still-unprofitable producer that is aggressively investing in the Nueva Recuperada district. The latest quarter’s 24% increase in processed tonnage and 17% rise in silver equivalent output, coupled with a 67% jump in gold production, speaks directly to the near-term catalyst investors have been watching: a more robust, diversified production base after a softer Q3 2025. That stronger gold contribution could help smooth revenue and support the case for the recent capital raises and higher drilling spend, even after substantial shareholder dilution and a prior going concern flag. At the same time, the sharp one-year share price run and thin profitability cushion keep execution risk and potential funding needs very much in focus.
However, one key operational risk remains front and center for anyone considering the stock.

The analysis detailed in our Silver X Mining valuation report hints at an inflated share price compared to its estimated value.

Exploring Other Perspectives

Three fair value estimates from the Simply Wall St Community span roughly US$0.14 to US$1.36, underscoring how differently retail investors view Silver X’s potential. Set this against the recent production improvements and funding history, and it becomes clear why opinions on the company’s future performance can diverge so widely.

Explore 3 other fair value estimates on Silver X Mining – why the stock might be worth as much as 43% more than the current price!

Build Your Own Silver X Mining Narrative

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

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