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Silvercorp Metals Inc. (TSX: SVM; NYSE AMEX: SVM) is a leading Canadian mining company engaged in the acquisition, exploration, development, and mining of precious and base metals. The company primarily operates in China and Mexico, producing silver, gold, lead, and zinc from its multiple mines. Silvercorp places a strong emphasis on generating shareholder value through free cash flow from long-life mines, organic growth via extensive drilling and discovery, and strategic mergers and acquisitions. The company is also committed to responsible mining and maintains high standards for environmental, social, and governance (ESG) practices.
Business Operations
Silvercorp's core business revolves around its producing mines in China, notably within the Ying Mining District and the GC Mine. The company has also expanded its exploration and development projects to Mexico. By leveraging its low-cost production model, Silvercorp remains profitable while focusing on discovering new resources through extensive drilling programs. The company continuously invests in infrastructure and operational efficiencies to enhance production capacity and reduce costs.
Recent Achievements and Projects
Silvercorp has reported notable financial and operational successes. For Q3 Fiscal 2024, the company generated $58.5 million in revenue and achieved a net income of $10.5 million. The company's balance sheet is robust, with $198.3 million in cash, cash equivalents, and short-term investments, and an equity investment portfolio valued at $124.0 million. Recent drilling programs at the TLP mine have yielded high-grade silver and lead intercepts, positioning the company for further resource expansion.
Strategic Initiatives
In its strategic initiatives, Silvercorp focuses on value creation through ongoing mergers and acquisitions. Recently, the company has announced an off-market takeover offer for OreCorp Limited, which has received conditional approval from both the Toronto Stock Exchange and the NYSE American. Additionally, Silvercorp has entered into a definitive arrangement agreement to acquire Adventus Mining Corporation, aiming to create a globally diversified green metals producer.
Commitment to Responsible Mining
Silvercorp is dedicated to responsible mining practices, emphasizing sustainable development, environmental stewardship, and community engagement. The company maintains rigorous quality assurance and quality control (QA/QC) programs to ensure the highest standards in sample preparation and analysis.
For more information, please visit the company’s website at www.silvercorpmetals.com.
Silvercorp Metals (TSX/NYSE: SVM) has priced a private placement offering of US$130 million in 4.75% convertible senior notes due 2029, with an option for purchasers to buy an additional US$20 million. The notes will have an initial conversion rate of 216.0761 common shares per $1,000 principal amount, representing a conversion price of US$4.63 per share - a 30% premium over the last reported share price of US$3.56.
The company expects net proceeds of approximately US$124.2 million (or US$143.5 million if the additional option is exercised), which will be used for copper-gold mining projects outside China, exploration and development, and working capital.
Silvercorp Metals (TSX: SVM, NYSE American: SVM) has announced a private placement offering of US$130 million in convertible senior notes due 2029, with an option for purchasers to acquire an additional US$20 million. The notes will be senior unsecured obligations with semi-annual interest payments, maturing December 15, 2029. They will be convertible to cash, common shares, or a combination at the company's discretion. The notes won't be redeemable before December 20, 2027, except for tax law changes. Proceeds will fund construction of copper-gold mining projects outside China, exploration and development, and working capital.
Silvercorp Metals announces two significant developments for the El Domo project in Ecuador. First, the Provincial Court of Bolivar dismissed an appeal against the project's environmental license, affirming Curimining's rights to continue construction. Second, the company repaid the US$13.25 million early deposit previously drawn from Wheaton Precious Metals under their precious metals purchase agreement (PMPA). This repayment ensures the full $175.5 million PMPA contribution remains available for construction, subject to conditions.
Silvercorp Metals (TSX: SVM) (NYSE American: SVM) has announced a semi-annual dividend of US$0.0125 per share. The dividend will be paid to shareholders of record as of November 29, 2024, with payment scheduled on or before December 13, 2024. These dividends qualify as eligible dividends for Canadian tax purposes. Future dividend decisions will be based on factors including commodity prices, market conditions, financial results, cash flows, and other relevant considerations.
Silvercorp Metals reported strong Q2 Fiscal 2025 results with net income of $17.7 million ($0.09 per share) and operating cash flow of $23.1 million. Revenue increased 26% to $68.0 million, driven by higher metal prices and increased silver and zinc sales. The company produced 1.7 million ounces of silver, 13.2 million pounds of lead, and 5.8 million pounds of zinc. Cash costs were negative $0.73 per silver ounce, with all-in sustaining costs at $11.66. The company maintains a strong balance sheet with $209.5 million in cash and investments worth $84.4 million. A new 1,500 tonne per day mill began commissioning on November 1, 2024.
Silvercorp Metals Inc. (TSX/NYSE American: SVM) reports Q2 Fiscal 2025 production and sales figures, with financial results to be released on November 7, 2024. Highlights include:
- Revenue of approximately $68.0 million, up 26% year-over-year
- Ore mined increased 32% to 361,440 tonnes
- Silver production rose 4% to 1.7 million ounces
- Zinc production up 26% to 5.8 million pounds
- Lead production decreased 18% to 13.2 million pounds
The Ying Mining District saw a 23% increase in ore mined, while the GC Mine reported significant increases in ore mined (69%) and milled (80%). A stockpile of 129,000 tonnes of ore due to mill capacity constraints will be processed in the next quarter when the expanded mill becomes operational.
CEO.CA Technologies , a leading investor social network for junior resource and venture stocks, has shared exclusive updates with CEOs of junior mining explorers in its 'Inside the Boardroom' series. The series provides firsthand knowledge from industry leaders, offering insights into their vision, challenges, and strategies.
This week, CEO.CA interviewed Lon Shaver, President of Silvercorp Metals (TSX: SVM | NYSE American: SVM), and Duncan Middlemiss, President & CEO of Arizona Metals Corp (TSX: AMC | OTCQX: AZMCF), discussing the El Domo and Kay Mine projects respectively. These interviews are part of CEO.CA's ongoing effort to connect investors with industry leaders and share impactful stories about stocks, commodities, and emerging companies.
Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) has announced the renewal of the SGX Mine permit in the Ying Mining District for an additional 11 years, extending until September 24, 2035. The renewed Yuelianggou Mining License, which includes the SGX and HZG silver-lead-zinc mines, now has an increased production capacity of 500,000 tonnes per year.
To secure the renewal, Silvercorp completed various studies and reports, including a Mineral Resource estimate, mine development plan, and environmental impact assessments. The company is currently awaiting the final assessment of historical government investment in the License area, which may result in certain payments before the official paper certificate is issued.
The SGX and HZG mines are operating normally, and Silvercorp is working on a mine optimization plan to achieve the newly allowed production capacity.
Altius Minerals (ALS:TSX) (ATUSF: OTCQX) has provided an update on its Project Generation business activities and public junior equities portfolio. As of September 30, 2024, the market value of equities in the portfolio was $65.3 million, up from $55.8 million on June 30, 2024. The company generated $6.5 million in net cash proceeds from portfolio sales during the quarter, bringing the total net proceeds for 2024 to $18 million.
The update highlights significant developments from portfolio companies, including Orogen Royalties Inc.'s record royalty revenue, Silvercorp Metals Inc.'s acquisition of Adventus Mining Corp., and progress on various mining projects where Altius holds royalty interests. These include the El Domo copper-gold mine, the Golden Rose project, and the Taylor Brook nickel property.
Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) reported the results of its annual general meeting (AGM) held on September 27, 2024. All matters submitted for shareholder approval were approved by the requisite majority. A total of 98,611,116 common shares, representing 45.55% of the votes attached to all outstanding shares, were represented at the AGM.
The voting results for the election of directors were as follows:
- Dr. Rui Feng: 92.97% votes for
- Paul Simpson: 89.32% votes for
- Yikang Liu: 98.98% votes for
- Marina Katusa: 98.01% votes for
- Ken Robertson: 98.39% votes for
- Helen Cai: 99.10% votes for
Final results for all matters voted on at the AGM will be filed on SEDAR+ and on the Company's website.
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