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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 announced positive exploration results from its 2021 programs at the LME mine in Henan, China, covering 17,752 meters of drilling across 113 diamond drill holes. The assays reveal high-grade silver-lead-zinc mineralization, with notable findings such as 6,455 g/t silver from vein LM5. Seven drilling rigs are operational, with the potential to quickly convert high-grade blocks into reserves due to existing access tunnels. The exploration indicates silver-lead mineralization extending beyond current resource areas, enhancing growth prospects for Silvercorp.
Silvercorp Metals (SVM) announced results from its 2021 exploration programs at the TLP mine in China. From October 2020 to May 2021, the company completed 34,546 meters of drilling across 196 diamond drill holes, with assay results for 193 holes indicating mineralization in 108. High-grade silver-lead-zinc veins were targeted, with notable intercepts including 3,911 g/t silver, 6.22% lead, and 2.11% zinc. Additionally, 4,526 meters of exploration drift tunneling was completed, exposing substantial mineralization. The ongoing drilling and tunneling efforts aim to enhance the mine's resources.
Silvercorp Metals Inc. (SVM) announced a semi-annual dividend of US$0.0125 per share, payable to shareholders of record by June 4, 2021, with a payment date on or before June 25, 2021. This dividend is regarded as an eligible dividend for Canadian tax purposes. The declaration of future dividends will depend on various factors, including market conditions and financial results. Silvercorp is dedicated to generating returns for shareholders through sustainable practices and profitable growth.
Silvercorp Metals (SVM) announced significant high-grade intercepts from its 2021 exploration program at the LMW mine in Henan, China. The ongoing drilling efforts have involved 116 holes over 22,890 m, revealing multiple zones with rich silver-lead mineralization. Notable results include drill hole ZKX0575 showing 261 g/t Ag over 20.75 m, and ZKX0429 with 1,103 g/t Ag over 1.51 m. The successful exploration is expected to enhance the resource base significantly at the LMW mine.
Silvercorp Metals Inc. (SVM) announced strong financial results for Fiscal 2021, reporting a revenue of $192.1 million, a 21% increase from the previous year. Net income rose 35% to $46.4 million, or $0.27 per share. The company mined 964,925 tonnes of ore, with silver production slightly up at 6.3 million ounces. For Q4 alone, revenue surged 89% year-over-year to $35.7 million, and net income reached $7.0 million. Silvercorp also reported significant cash reserves of $199.1 million, up 40% from the prior year.
Silvercorp Metals Inc. (SVM) has been granted three exploration permits covering 48.8 square kilometers in the Ying Mining District, allowing depth extensions beyond existing mining permits. Past drilling in the area revealed significant mineralization, including intervals of 263 g/t gold and 335 g/t silver. Additionally, the company has temporarily extended contracts with mining contractors for two months to renew mining operations, which may face delays if agreements are not reached. Silvercorp is committed to profitable operations and sustainable development.
Silvercorp Metals reported strong production figures for Fiscal 2021, producing approximately 6.3 million ounces of silver and 68.4 million pounds of lead, aligning with guidance. Zinc production was notably higher at 28.0 million pounds, exceeding expectations. The Ying Mining District saw production increases across silver, gold, and lead, while the GC Mine also delivered solid results. The company will disclose detailed financial results on May 20, 2021.
Silvercorp Metals Inc. (SVM) has successfully renewed the Tieluping-Longmen (TLP-LM) Mining License for the TLP, LME, and LMW mines in Henan Province, China, extending it for 20 years until February 26, 2041. This renewal, based on a resource estimation report submitted in 2014, underscores the mines' strong performance over the last decade. The TLP-LM license spans 22.7631 square kilometers, part of a larger 68 square km area. Additionally, a new resource estimation report must be filed within two years. Silvercorp is committed to high safety and environmental standards.
Silvercorp Metals Inc. (SVM) reported Q3 Fiscal 2021 results indicating substantial growth. Revenue increased by 20% to $53.3 million, with net income rising 33% to $8.4 million or $0.05 per share. The company mined 279,445 tonnes of ore, a 6% increase year-over-year, while silver sales saw a 4% decrease to 1.6 million ounces. Cash cost per ounce of silver was negative $2.76, showing improved operational efficiency. The company also acquired interests in Whitehorse Gold Corp. and the La Yesca Silver Project, bolstering its portfolio.
Silvercorp Metals announces its subsidiary, Henan Found Mining Co. Ltd., won an online auction for exploration rights to the Zhonghe Silver Project, located northeast of its Ying Mining District. The acquisition cost approximately US$76 million, with a first payment of US$15.2 million due upon clearance as a non-military area. Notable drill intercepts at Zhonghe include significant silver, lead, and zinc grades. The company plans to initiate drilling in Q1 2021 to advance resource estimates to meet mining license requirements.
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