Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Silver X Mining ( (TSE:AGX) ) has shared an update.
Silver X Mining Corp has secured a US$2 million prepayment facility and a copper offtake agreement with Trafigura PTE Ltd for its Nueva Recuperada project. This agreement is expected to strengthen Silver X’s balance sheet and accelerate development, particularly in mine development and the construction of a third flotation circuit. The partnership with Trafigura reflects confidence in Silver X’s production capabilities and is anticipated to provide non-dilutive funding, minimizing shareholder dilution. The proceeds will be used for implementing a third flotation circuit to produce copper concentrates with silver and gold contents, as well as for mine development and working capital.
The most recent analyst rating on (TSE:AGX) stock is a Buy with a C$0.80 price target. To see the full list of analyst forecasts on Silver X Mining stock, see the TSE:AGX Stock Forecast page.
Spark’s Take on TSE:AGX Stock
According to Spark, TipRanks’ AI Analyst, TSE:AGX is a Neutral.
The overall stock score is weighed down by poor financial performance and valuation, despite positive technical momentum and encouraging corporate developments. The company’s financial instability and valuation concerns are significant risks, but recent corporate actions provide some optimism for future growth.
To see Spark’s full report on TSE:AGX stock, click here.
More about Silver X Mining
Silver X Mining Corp is a rapidly growing silver producer-developer based in Vancouver, British Columbia. The company owns the Nueva Recuperada Silver Project in Central Peru, producing silver, gold, lead, and zinc from its Tangana Mining Unit. Silver X aims to consolidate and develop undervalued assets, increase production, and sustain local communities while stewarding the environment.
Average Trading Volume: 529,826
Technical Sentiment Signal: Buy
Current Market Cap: C$51.17M
Find detailed analytics on AGX stock on TipRanks’ Stock Analysis page.