Silver X Mining Corp. CEO José García joined Proactive's Stephen Gunnion with details of the company's third-quarter performance and a strategic operational reset that positions the company for growth in 2024 and beyond.
The pause in operations was prompted by underperformance in 1Q and 2Q, with declining grades and operational challenges. The company realigned its main plan, focusing on areas with better grades and established a new alliance with contractors to ensure improved production.
The temporary shutdown of operations at Recuperado impacted 3Q financials, but García anticipates competitive production costs in 4Q. Despite challenges, he expressed confidence in profitability.
Recuperado's transformation into a significant silver project remains on track, with plans to reach 2 million ounces of silver equivalent annually by 2024.
García highlighted a 12-year extension of the social agreement with the local Huachocolpa community in Peru, emphasizing positive relationships.
He also discussed a restructured royalty agreement with Maverix Metal, a subsidiary of Triple Flag Precious Metals.
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