Silver X Mining (AGX) Q1 2025 earnings summary

Executive summary

• Achieved pre-tax profit of $20K in 1Q25, reversing pre-tax losses in both 1Q24 and 4Q24.

• Operating income rose to $786K from $6K in 1Q24 and an operating loss in 4Q24.

• EBITDA improved to $403K, up 35% year-over-year and a turnaround from negative EBITDA in 4Q24.

• Net loss narrowed to $331K, a 73% improvement year-over-year and 63% sequentially.

• Cash position increased to $1.4M from $0.3M in 1Q24, supported by a $1.9M financing inflow.

Financial highlights

• Net operating revenue grew 10% year-over-year to $5.3M, driven by higher ore processed and realized prices.

• Cost of sales decreased by $0.3M year-over-year, mainly due to lower depreciation from increased mineral resources.

• Adjusted EBITDA reached $409K, down 3% year-over-year but a significant improvement from a loss in 4Q24.

• Earnings per share improved to $(0.002) from $(0.007) in 1Q24.

Outlook and guidance

• 2025 drilling campaign underway with 8,000 meters planned at Tangana Mining Unit.

• Management remains optimistic about capitalizing on a favorable silver market outlook.