Silver X Mining closes final tranche of non-brokered private placement, poised for further growth
July 10, 2023 at 04:49 pm
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Silver X Mining CEO José García joins Natalie Stoberman from the Proactive studio to share details from the closing of its third and final tranche of non-brokered private placement and how this milestone poises the company for continued growth as a silver producer and developer in Peru. García says this funding ensures that Silver X Mining has sufficient funds for the rest of the year while allowing the company to focus on production and exploration projects.
The company has been in production for the past year and a half with increasing production levels leading to positive financial outcomes. By securing these funds, García explains that Silver X Mining can continue its development and exploration efforts, positioning itself to achieve its objectives for the remainder of the year.
Despite the challenging market conditions, García mentions that the company was able to raise capital with the anticipation of future positive developments that will contribute to the company's growth and success.
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Silver X Mining Corp. is a Canada-based silver mining company with core operations in Peru. The Company owns the +20,000-hectare Nueva Recuperada Silver District in Central Peru and produces silver, gold, lead, and zinc from the districtâs Tangana Mining Unit. The Tangana Mining Unit lies within the Nueva Recuperada project located within the Huachacolpa Mining District, Huancavelica, Peru, 479 kilometers (km) to the southeast of Lima. Its Plata Advanced Project is a 3829-hectare concession package with 17 known mineralized veins at the surface with widths ranging from 0.6 to 1.0 meters. The project is located 150 km east of Peruâs prominent Pan American highway in the Lircay district, Huancavelica region of south-central Peru. Its Coriorcco Gold Project is located 80 km east of Peruâs Pan American highway in San Juan Lucanas Province, Ayacucho region of southern Peru, and is accessible by paved road to within five km of the project and has the potential for stand-alone development.