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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 Inc. (SVM) reports plans to construct a new 3,000 tonne per day flotation mill and a tailings storage facility in the Ying Mining District, Henan Province, China. The project requires various regulatory approvals and has an estimated construction budget of US$63 million (US$25 million for the mill and US$38 million for the TSF). The new mill aims to process ore from recent acquisitions and enhance operational capacity, with completion expected by late 2023 for the mill and mid-2024 for the TSF.
Silvercorp Metals Inc. (SVM) has declared a semi-annual dividend of US$0.0125 per share, payable to shareholders of record by November 24, 2021. The expected payment date is on or before December 15, 2021. This dividend is classified as an eligible dividend for Canadian tax purposes. The company's Board of Directors will continue to evaluate future dividends based on several factors, including market conditions and financial results. Silvercorp is committed to generating returns for shareholders while balancing sustainability and profitability.
Silvercorp Metals Inc. (TSX: SVM, NYSE American: SVM) reported Q2 Fiscal 2022 results for the period ending September 30, 2021. The company mined 292,468 tonnes of ore and milled 271,816 tonnes, showing increases of 9% and 3% year-over-year. Revenue rose 4% to $58.4 million, while net income fell 39% to $9.4 million, largely due to a $4.1 million unrealized loss on investments. Adjusted earnings decreased 12% to $13.6 million. Cash flow from operations increased 4% to $30.9 million. The company maintains a strong cash position with $221.1 million in cash and equivalents.
Silvercorp Metals (SVM) reported its Q2 Fiscal 2022 production results, achieving approximately 1.7 million ounces of silver, 800 ounces of gold, 17.6 million pounds of lead, and 7.5 million pounds of zinc. Silver production increased by 15% from the previous quarter, while gold decreased by 20%. The Ying Mining District saw a 45% increase in ore mined compared to Q1. The total production for the first half of Fiscal 2022 was approximately 3.2 million ounces of silver. The company remains on track to meet its annual guidance of producing between 6.3 - 6.6 million ounces of silver.
Silvercorp Metals Inc. (TSX: SVM, NYSE American: SVM) reports significant results from its 2021 exploration program at the LMW mine in China. From May to September 2021, 23,908 meters were drilled, yielding high-grade silver-lead-zinc veins. Key intercepts include 1,468 g/t Ag and 4.90% Pb. The program targets previously unexplored areas and low angle gold veins with promising results. Tunneling has also exposed substantial mineralization, confirming the mine's potential. The exploration program aims to enhance Silvercorp's resource base and operational efficiency.
Silvercorp Metals Inc. has successfully acquired a 100% interest in the Kuanping silver-lead-zinc-gold project through its subsidiary, Henan Found Mining Co. Ltd., for a total of US$13.5 million, including debt assumption. The Kuanping Project, located in Sanmenxia City, spans 12.39 km² and includes historical exploration results highlighting multiple mineral vein structures. Significant drill intercepts show high grades of silver and other metals, positioning the project for future mining permit applications.
Silvercorp Metals (SVM) announced promising results from its exploration at the DCG mine in Henan Province, China, from March 2020 to September 2021. The company completed 29,010 meters of drilling across 207 holes, finding mineralization in 110 holes. Notably, the gold vein C9 was defined over 850 meters, alongside the discovery of a new gold vein, C76. Significant intercepts included holes grading up to 7.17 g/t gold and 68 g/t silver. Additionally, the company established multiple silver-lead-zinc veins within the resource area, indicating a strong potential for mineral resource expansion.
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