Welcome to our dedicated page for Silvercorp Metals Common Shares news (Ticker: SVM), a resource for investors and traders seeking the latest updates and insights on Silvercorp Metals Common Shares stock.
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 (NYSE: SVM) reported Q1 Fiscal 2025 financial and operational results, highlighting an adjusted net income of $20.6 million or $0.12 per share, and operating cash flow of $40.0 million.
Key metrics include:
- Total revenue of $72.2 million, up 20% YoY
- Net income of $21.9 million, up 138% YoY
- Mined 343,847 tonnes of ore and milled 307,696 tonnes
- Produced 1.7 million ounces of silver and 1,146 ounces of gold
- Strong balance sheet with $215.7 million in cash and investments
The company faced decreases in gold, silver, lead, and zinc production due to lower head grades and unprocessed stockpiled ore, which is expected to be processed by Q3 FY2025.
Major investments included $1.0 million on exploration, $13.9 million on underground development, and $4.6 million on equipment. The acquisition of Adventus Mining, completed in July 2024, is set to diversify operations with the El Domo and Condor Projects in Ecuador.
Silvercorp Metals and Salazar Resources have announced that the El Domo-Curipamba Project in Ecuador has received the Resolution of Change of Phase from the Ministry of Energy and Mines. This approval advances the project from the Economic Evaluation Phase to the Exploitation Phase, allowing for the start of construction and subsequent mine operation. This resolution is equivalent to the Exploitation Agreement for large-scale mines in Ecuador.
Dr. Rui Feng, Chairman and CEO of Silvercorp, stated that this is the final major approval required for full stage construction to begin. Fredy E. Salazar, President and CEO of Salazar, expressed gratitude to the team for achieving this milestone and anticipates El Domo becoming the next major industrial mine in Ecuador.
Silvercorp Metals Inc. (TSX/NYSE American: SVM) has completed its acquisition of Adventus Mining (TSXV: ADZN, OTCQX: ADVZF) through a statutory plan of arrangement. Under the terms, former Adventus shareholders receive 0.1015 Silvercorp shares for each Adventus share. Adventus stock options and warrants are now exercisable for Silvercorp shares, adjusted according to the exchange ratio. Adventus restricted share units have been settled in cash.
Adventus intends to delist from the TSX Venture Exchange and cease being a reporting issuer. Adventus' President, CEO, CFO, and Corporate Secretary will stay on as consultants during the transition period. This acquisition marks a significant expansion for Silvercorp in the mining sector.
Silvercorp Metals Inc. (TSX/NYSE AMERICAN: SVM) has announced it will proceed to close the acquisition of Adventus Mining on July 31, 2024. This decision comes after a positive development in a litigation that had previously been considered a Material Adverse Effect. On July 24, 2024, a local court in Ecuador rejected the litigation that sought to void the environmental license of the Curipamba-El Domo project.
The court ruled that the Ecuadorean government correctly discharged its environmental consultation obligations. Although the plaintiffs have given notice of their intention to appeal, Silvercorp believes that all conditions to closing are now satisfied. This acquisition, originally announced on April 26, 2024, will involve Silvercorp acquiring all issued and outstanding common shares of Adventus through a plan of arrangement.
Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) reported Q1 Fiscal 2025 operational results, highlighting record revenue of approximately $72.0 million, a 20% increase year-over-year. Ore mined increased by 13% to 341,927 tonnes, while ore milled rose 4% to 307,696 tonnes. However, silver production decreased by 4% to 1.7 million ounces due to 59,293 tonnes of inventory stockpile not yet processed. Lead and zinc production also declined by 12% and 6% respectively. The Ying Mining District saw a 20% increase in ore mined, while the GC Mine experienced slight decreases in production. The company expects to process stockpiled ore in Q3 and Q4 once mill capacity expansion is completed.
Altius Minerals (ATUSF) has provided an update on its Project Generation business activities and public junior equities portfolio for Q2 2024. The market value of equities in the portfolio increased to $55.8 million from $45.4 million in Q1 2024. The company generated $7.6 million in cash proceeds from portfolio sales and invested $2.9 million through warrant exercises, leading to net proceeds of $11.4 million in 2024. Key portfolio updates include:
1. Orogen Royalties Inc. reported positive cashflows and advancements at the Expanded Silicon gold project.
2. Adventus Mining Corp. announced a definitive arrangement agreement with Silvercorp Metals Inc. Altius received C$9.6 million from Adventus.
3. Canterra Minerals Corp. advanced its base metal and gold projects in Newfoundland.
4. Sterling Metals Inc. exercised its option to acquire 100% of the Adeline Copper-Silver Project.
5. Gungnir Resources Inc. provided an update on its exploration activities in Sweden.
6. Strikepoint Gold Inc. reported positive drilling results from the Cuprite gold project.
Silvercorp Metals has provided an update on its proposed acquisition of Adventus Mining. The acquisition, initially announced on April 26, 2024, involves Silvercorp purchasing all outstanding shares of Adventus. However, a Material Adverse Effect has arisen due to litigation seeking to void the environmental license of Adventus's Curipamba-El Domo project. Silvercorp has analyzed the litigation and concluded it constitutes a Material Adverse Effect. The company will continue to evaluate the situation and is open to extending the July 31 deadline for closing the acquisition.
On May 27, 2024, Silvercorp Metals (TSX/NYSE American: SVM) announced a semi-annual dividend of US$0.0125 per share. Shareholders of record by June 7, 2024, will receive the dividend by June 27, 2024. The dividends qualify as eligible for Canadian tax purposes. Future dividends will depend on market conditions, financial performance, cash requirements, and other relevant factors, as decided by the Board of Directors.
Silvercorp Metals Inc. (TSX: SVM, NYSE American: SVM) reported adjusted net income of $39.3 million ($0.22 per share) and cash flow from operations of $91.6 million for Fiscal 2024. For Q4 Fiscal 2024, the company mined 195,160 tonnes of ore and produced approximately 1.3 million ounces of silver equivalent. Revenue for Q4 was $42.7 million, with net income of $5.5 million ($0.03 per share). For the full Fiscal 2024, Silvercorp generated revenue of $215.2 million, with a net income of $36.3 million ($0.21 per share). Operating cash flow was $91.6 million. The company’s cash cost per ounce of silver, net of by-product credits, was negative $0.38, with an all-in sustaining cost of $11.38 per ounce. Silvercorp ended Fiscal 2024 with $184.9 million in cash and equivalents. Significant investments included $45.0 million on underground development and $6.2 million on new tailings storage facilities.
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