Increasing Production and More Exploration! A recent news release went over how $AGX wishes to upgrade their resources and expand development at their Tangana mine. $AGX is a mining/exploration company that's in production! They currently hold a capacity of 600tpd for their operation on the mine, which generated $6.5M in revenue for the first half of 2021.
- Permitting has begun for approval to upgrade the mine’s capacity 20% to 720tpd
- Expected to reach 1200tpd by 2022 (depending on silver prices they'll be able to generate around $20M-$30M in revenue)
- Compare that to the current market cap of $41M it’s actually looking very undervalued. Not even factoring in exploration at their other properties, a $41M market cap is a deal for an already producing explorer
- Initiated a 25,000m drilling program (announced last month)
The Peruvian government already stated that they're going to “ultimately leave the country’s mining sector in private hands.” (which was the primary concern of every investor). $AGX gets more attractive by the day, exploration moving along smoothly, waiting on permits to increase production, and the government allowing mining to remain in the private sector. It seems like everything is going right for the company. Will be keeping an eye on it and adding more during the dips!