Nueva Recuperada Silver Project (Tangana + Plata) PEA: $440M NPV, 69% IRR
Silver X Mining Corp.'s Nueva Recuperada Silver Project (Tangana + Plata) in Huancavelica, Peru has a Preliminary Economic Assessment (PEA) outlining an after-tax NPV of $440M, an after-tax IRR of 69%, and initial capital of $82M. The mine plan runs 14 years at about 6.2 Moz AgEq per year.
Silver X Mining Corp.'s Nueva Recuperada Silver Project (Tangana + Plata) has reported Preliminary Economic Assessment (PEA) results for the silver project in Huancavelica, Peru. The study headlines an after-tax net present value of $440M at a 5% discount rate. It reflects Silver X Mining Corp.'s (AGX.V) latest disclosed economics for the asset.
Economics. The after-tax NPV is $440M using a 5% discount rate. After-tax IRR is 69%. Initial capital expenditure is estimated at $82M. All-in sustaining costs are pegged at 15.8 USD/oz AgEq. Economics are based on Ag: $33.2/oz, Au: $2,928/oz, Pb: $0.93/lb, Zn: $1.34/lb.
Production and mine plan. The project envisions an underground operation. Life of mine is 14 years. Average annual production is approximately 6.2 Moz AgEq.
These figures are extracted from Silver X Mining Corp.'s technical disclosures and reflect the most recent PEA on file. Compare this project against other developers and producers in our project economics database, and always verify the numbers against the original technical report before making any investment decision.
Reserves & Resources
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Measured | 1.63 Mt | 3.09 oz/t Ag, 0.691 g/t Au, 2.46% Pb, 2.77% Zn; 8.56 oz/t AgEq | 5.1 Moz Ag, 36.3 Koz Au, 40.1 Kt Pb, 45.2 Kt Zn; 14.0 Moz AgEq |
| Indicated | 2.28 Mt | 4.39 oz/t Ag, 0.297 g/t Au, 2.43% Pb, 3.47% Zn; 9.52 oz/t AgEq | 8.9 Moz Ag, 21.7 Koz Au, 51.2 Kt Pb, 70.0 Kt Zn; 21.7 Moz AgEq |
| Total M&I | 3.91 Mt | 3.85 oz/t Ag, 0.461 g/t Au, 2.44% Pb, 3.18% Zn; 9.12 oz/t AgEq | 14.0 Moz Ag, 58.0 Koz Au, 91.3 Kt Pb, 115.1 Kt Zn; 35.6 Moz AgEq |
| Total Inferred | 15.11 Mt | 4.51 oz/t Ag, 0.265 g/t Au, 1.49% Pb, 1.72% Zn; 7.5 oz/t AgEq | 68.9 Moz Ag, 171.1 Koz Au, 225.4 Kt Pb, 269.3 Kt Zn; 116.6 Moz AgEq |
Our Analysis
At 69% after-tax IRR, the project ranks in the upper half of the 20 Silver projects we track, and comfortably clears the ~15% after-tax return developers typically need to finance a build. The study discounts at 5%, the low end of the reporting convention, which flatters the headline NPV. Its after-tax NPV is well above the company's market capitalisation (roughly 3.3x, on a currency-adjusted basis) — a wide gap that can flag value the market hasn't yet priced — though dilution, financing and permitting risk usually explain part of it. Initial capital runs to about 19% of project NPV, making it capital-light; funding that build is the central execution risk. The project is located in Huancavelica, Peru, a factor in its overall risk profile. For context, silver currently trades around $59.67/oz.
Our take, benchmarked against the project economics in the Mining Stocks database. Figures are estimates drawn from company technical reports — not investment advice; always verify against the source filing.