Impact: Positive
Silver X released an updated resource estimate for its Nueva Recuperada Ag polymetallic project in Peru. The new resource doubles the inferred tonnage to 14.9Mt (previously 7.3Mt) in addition to adding a maiden 0.84Mt M&I resource to the project. We view this as a positive milestone for the company as this significantly larger resource provides the foundation for long mine life at Nueva Recuperada. The company recently refurbished and upgraded its mill capacity to 720 tpd and is now ramping up toward full production, with longer-term plans to expand to a >2,000 tpd operation in the coming years.
