If you follow Matt Gordon or Crux Investor on twitter, YouTube, etc you will know that Matt asks the tough questions and doesn’t let companies off the hook with easy, flakey answers. Luis did a fantastic job explaining the story of Silver X.
My Summary:
- $14M just raised in the spring.
- They are in pre-mine development and just sold $6.5M YTD in concentrate sales. Impressive for preproduction.
- Current price is a great opportunity as they just had 4.3M $0.30 warrants exercised which has caused the share price to be driven lower.
- Production will start at their 600tpd processing facility which will be upgraded to 1200 next year. Positive Cash Flow is expected in 12 months
- 25,000m of drill has just started. Targeting high grade veins… to increase the resource. And they have high grade resource; Maria Luz zone has an inferred resource of 496.1g/tAg with other credits! That’s not a cherry picked sample, that’s the average grade on the resource
Basically AGX will be focused on 2 things with the funds they have
1. Increase production
2. Increase resource
I continue to buy shares in the high 30s!