SILVERCORP REPORTS ADJUSTED NET INCOME OF $17.8 MILLION, $0.09 PER SHARE, AND CASH FLOW FROM OPERATIONS OF $23.1 MILLION FOR Q2 FISCAL 2025
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 ha riportato risultati solidi per il secondo trimestre dell'anno fiscale 2025, con un reddito netto di 17,7 milioni di dollari (0,09 dollari per azione) e un flusso di cassa operativo di 23,1 milioni di dollari. I ricavi sono aumentati del 26% raggiungendo i 68,0 milioni di dollari, grazie all'innalzamento dei prezzi dei metalli e all'aumento delle vendite di argento e zinco. L'azienda ha prodotto 1,7 milioni di once d'argento, 13,2 milioni di libbre di piombo e 5,8 milioni di libbre di zinco. I costi di cassa sono stati negativi per 0,73 dollari per oncia d'argento, con costi totali sostenibili a 11,66 dollari. L'azienda mantiene un solido bilancio con 209,5 milioni di dollari in cassa e investimenti per un valore di 84,4 milioni di dollari. Un nuovo impianto da 1.500 tonnellate al giorno ha iniziato la fase di collaudo il 1° novembre 2024.
Silvercorp Metals reportó resultados sólidos para el segundo trimestre del año fiscal 2025, con un ingreso neto de 17,7 millones de dólares (0,09 dólares por acción) y un flujo de caja operativo de 23,1 millones de dólares. Los ingresos aumentaron un 26% hasta alcanzar los 68,0 millones de dólares, impulsados por mayores precios de los metales y un incremento en las ventas de plata y zinc. La compañía produjo 1,7 millones de onzas de plata, 13,2 millones de libras de plomo y 5,8 millones de libras de zinc. Los costos en efectivo fueron de -0,73 dólares por onza de plata, y los costos sostenibles totales se situaron en 11,66 dólares. La empresa mantiene un sólido balance con 209,5 millones de dólares en efectivo y 84,4 millones de dólares en inversiones. Un nuevo molino de 1,500 toneladas por día comenzó su puesta en marcha el 1 de noviembre de 2024.
Silvercorp Metals는 2025 회계연도 2분기 실적을 발표했으며, 순이익이 1,770만 달러(주당 0.09달러)와 영업 현금 흐름이 2,310만 달러에 달했습니다. 매출은 금속 가격 상승과 은 및 아연 판매 증가에 힘입어 26% 증가하여 6,800만 달러에 도달했습니다. 회사는 170만 온스의 은, 1,320만 파운드의 납, 그리고 580만 파운드의 아연을 생산했습니다. 현금 비용은 은 한 온스당 -0.73달러이며, 전반적인 유지 비용은 11.66달러입니다. 회사는 2억 950만 달러의 현금과 8,440만 달러의 투자로 탄탄한 재무 상태를 유지하고 있습니다. 새로운 일일 1,500톤 밀은 2024년 11월 1일에 commissioning을 시작했습니다.
Silvercorp Metals a annoncé des résultats solides pour le deuxième trimestre de l'exercice 2025, avec un revenu net de 17,7 millions de dollars (0,09 dollars par action) et un flux de trésorerie d'exploitation de 23,1 millions de dollars. Les revenus ont augmenté de 26 % pour atteindre 68,0 millions de dollars, grâce à la hausse des prix des métaux et à l'augmentation des ventes d'argent et de zinc. L'entreprise a produit 1,7 million d'onces d'argent, 13,2 millions de livres de plomb et 5,8 millions de livres de zinc. Les coûts en espèces étaient de -0,73 dollars par once d'argent, avec des coûts totaux soutenables à 11,66 dollars. L'entreprise maintient un bilan solide avec 209,5 millions de dollars en liquidités et des investissements d'une valeur de 84,4 millions de dollars. Une nouvelle usine d'une capacité de 1 500 tonnes par jour a commencé sa mise en service le 1er novembre 2024.
Silvercorp Metals hat starke Ergebnisse für das zweite Quartal des Geschäftsjahres 2025 berichtet, mit einem Nettoeinkommen von 17,7 Millionen Dollar (0,09 Dollar pro Aktie) und einem operativen Cashflow von 23,1 Millionen Dollar. Der Umsatz stieg um 26 % auf 68,0 Millionen Dollar, angetrieben durch höhere Metallpreise und gesteigerte Verkäufe von Silber und Zink. Das Unternehmen produzierte 1,7 Millionen Unzen Silber, 13,2 Millionen Pfund Blei und 5,8 Millionen Pfund Zink. Die Bargeldkosten lagen bei -0,73 Dollar pro Silberunze, während die Gesamtkosten bei 11,66 Dollar lagen. Das Unternehmen hat eine starke Bilanz mit 209,5 Millionen Dollar in bar und Investitionen im Wert von 84,4 Millionen Dollar. Eine neue Mühle mit einer Kapazität von 1.500 Tonnen pro Tag begann am 1. November 2024 mit dem Betrieb.
- Revenue increased 26% to $68.0 million YoY
- Net income grew 60% to $17.7 million YoY
- Strong cash position of $209.5 million
- Realized metal prices increased 20-43% across all metals
- Mine operating earnings up 51% to $31.7 million
- Gold production decreased 52% YoY
- Lead production decreased 18% YoY
- Operating cash flow declined 20% to $23.1 million YoY
- Working capital decreased 9% QoQ
- Mining costs increased 4% to $67.17 per tonne
Insights
Silvercorp delivered strong Q2 fiscal 2025 results with significant year-over-year improvements. Revenue increased
Key positives include:
- Robust cash position of
$209.5 million plus$84.4 million in equity investments - Negative cash cost of
-$0.73 per silver ounce indicates efficient operations - New 1,500 tpd mill expansion starting trial runs should boost production
However, production volumes were mixed with gold (-
Operational performance shows encouraging trends despite some constraints. Total ore mined increased
Cost controls remain effective with all-in sustaining costs decreasing
Trading Symbol: TSX: SVM
NYSE AMERICAN: SVM
HIGHLIGHTS FOR Q2 FISCAL 2025
- Mined 361,440 tonnes of ore, milled 297,205 tonnes of ore, and produced approximately 1,183 ounces of gold, 1.7 million ounces of silver, or approximately 1.8 million ounces of silver equivalent1, plus 13.2 million pounds of lead and 5.8 million pounds of zinc;
- Sold approximately 1,239 ounces of gold, 1.6 million ounces of silver, 13.3 million pounds of lead, and 5.9 million pounds of zinc, for revenue of
$68.0 million - Net income attributable to equity shareholders of
$17.7 million $0.09 - Adjusted net income attributable to equity shareholders1 of
$17.8 million $0.09 - Generated cash flow from operating activities of
$23.1 million - Cash cost per ounce of silver, net of by-product credits1, of negative
$0.73 - All-in sustaining cost per ounce of silver, net of by-product credits1, of
$11.66 - Spent and capitalized
$0.5 million $14.6 million $9.6 million - Spent and capitalized
$181.3 million $150.5 million $27.0 million $3.8 million - The Company has
$209.5 million $84.4 million - Commissioning trial runs of the new 1,500 tonne per day mill commenced on November 1, 2024. The inventory stockpile of approximately 129,000 tonnes of ore at the Ying Mining District is expected to be processed over 2-3 months, which will enhance metal production to align with the Company's Fiscal 2025 annual guidance.
_______________ |
1 Non-IFRS measures, please refer to section 12 of the corresponding MD&A for the three and six months ended September 30, 2024 for reconciliation. |
CONSOLIDATED FINANCIAL RESULTS
Three months ended September 30, | Six months ended September 30, | ||||||
2024 | 2023 | Changes | 2024 | 2023 | Changes | ||
Financial Results | |||||||
Revenue (in thousands of $) | $ 68,003 | $ 53,992 | 26 % | 140,168 | 113,998 | 23 % | |
Mine operating earnings (in thousands of $) | 31,661 | 20,943 | 51 % | 68,175 | 44,244 | 54 % | |
Net income (loss) attributable to equity holders (in thousands of $) | 17,707 | 11,050 | 60 % | 39,645 | 20,267 | 96 % | |
Earnings (loss) per share - basic ($/share) | 0.09 | 0.06 | 39 % | 0.21 | 0.11 | 82 % | |
Adjusted earnings attributable to equity holders (in thousands of $) | 17,761 | 11,677 | 52 % | 38,379 | 24,046 | 60 % | |
Adjusted earning per share - basic ($/share) | 0.09 | 0.07 | 32 % | 0.20 | 0.14 | 48 % | |
Net cash generated from operating activities (in thousands of $) | 23,128 | 28,844 | (20) % | 63,083 | 57,725 | 9 % | |
Capitalized expenditures (in thousands of $) | 28,059 | 15,058 | 86 % | 47,716 | 30,974 | 54 % | |
Metals sold | |||||||
Gold (ounces) | 1,239 | 2,515 | (51) % | 2,237 | 4,010 | (44) % | |
Silver (in thousands of ounces) | 1,641 | 1,578 | 4 % | 3,380 | 3,393 | — % | |
Lead (in thousands of pounds) | 13,258 | 15,175 | (13) % | 28,921 | 32,505 | (11) % | |
Zinc (in thousands of pounds) | 5,892 | 4,578 | 29 % | 12,376 | 11,498 | 8 % | |
Average Selling Price, Net of Value Added Tax and Smelter Charges | |||||||
Gold ($/ounce) | 2,178 | 1,815 | 20 % | 2,094 | 1,766 | 19 % | |
Silver ($/ounce) | 26.49 | 19.74 | 34 % | 26.41 | 19.54 | 35 % | |
Lead ($/pound) | 1.00 | 0.87 | 15 % | 1.00 | 0.85 | 18 % | |
Zinc ($/pound) | 1.13 | 0.79 | 43 % | 1.07 | 0.81 | 32 % | |
Financial Position as at | September 30, | June 30, | September 30, | March 31, | |||
Cash and cash equivalents and short-term investments (in thousands of $) | 209,505 | 215,739 | (3) % | $ 209,505 | 184,891 | 13 % | |
Working capital (in thousands of $) | 162,312 | 178,893 | (9) % | 162,320 | 154,744 | 5 % | |
Net income attributable to equity shareholders of the Company in Q2 Fiscal 2025 was
Compared to Q2 Fiscal 2024, the Company's consolidated financial results were mainly impacted by i) increases of
Excluding certain non-cash, non-recurring, and non-routine items, the adjusted basic earnings to equity shareholders were
Revenue in Q2 Fiscal 2025 was
Income from mine operations in Q2 Fiscal 2025 was
Cash flow provided by operating activities in Q2 Fiscal 2025 was
$27.6 million $2.0 million $25.6 million $4.5 million $3.2 million
The Company ended the quarter with
CONSOLIDATED OPERATIONAL RESULTS
Three months ended September 30, | Six months ended September 30, | ||||||
2024 | 2023 | Changes | 2024 | 2023 | Changes | ||
Production Data | |||||||
Ore Mined (tonnes) | 361,440 | 273,465 | 32 % | 705,287 | 576,685 | 22 % | |
Ore Milled (tonnes) | |||||||
Gold Ore | 17,075 | 12,800 | 33 % | 25,551 | 23,693 | 8 % | |
Silver Ore | 280,130 | 248,307 | 13 % | 579,350 | 532,509 | 9 % | |
297,205 | 261,107 | 14 % | 604,901 | 556,202 | 9 % | ||
Metal Production | |||||||
Gold (ounces) | 1,183 | 2,458 | (52) % | 2,329 | 4,010 | (42) % | |
Silver (in thousands of ounces) | 1,655 | 1,590 | 4 % | 3,372 | 3,370 | — % | |
Silver equivalent (in thousands of ounces) | 1,751 | 1,815 | (4) % | 3,553 | 3,725 | (5) % | |
Lead (in thousands of pounds) | 13,202 | 16,065 | (18) % | 28,821 | 33,881 | (15) % | |
Zinc (in thousands of pounds) | 5,811 | 4,601 | 26 % | 12,245 | 11,422 | 7 % | |
Cost Data | |||||||
Production cost ($/tonne) | 82.33 | 80.53 | 2 % | 81.36 | 79.53 | 2 % | |
All-in sustaining production cost ($/tonne) | 145.53 | 149.94 | (3) % | 142.73 | 141.53 | 1 % | |
Cash cost per ounce of silver, net of by-product credits ($) | (0.73) | (1.00) | 26 % | (1.21) | (0.63) | (94) % | |
All-in sustaining cost per ounce of silver, net of by-product credits ($) | 11.66 | 11.50 | 1 % | 10.72 | 10.41 | 3 % | |
In Q2 Fiscal 2025, on a consolidated basis, the Company mined 361,440 tonnes of ore, up
In Q2 Fiscal 2025, the Company produced approximately 1,183 ounces of gold, 1.7 million ounces of silver, or approximately 1.8 million ounces of silver equivalent, plus 13.2 million pounds of lead and 5.8 million pounds of zinc, representing increases of
In Q2 Fiscal 2025, the consolidated mining cost was
In Q2 Fiscal 2025, the consolidated cash cost per ounce of silver, net of by-product credits, was negative
EXPLORATION AND DEVELOPMENT
Capitalized Development and Exploration Expenditures | Expensed | |||||||||
Ramp and Development | Exploration Tunnels | Drilling and other | Equipment & | Total | Mining | Drilling | ||||
(Metres) | ($ Thousand) | (Metres) | ($ Thousand) | (Metres) | ($ Thousand) | ($ Thousand) | ($ Thousand) | (Metres) | (Metres) | |
Q2 Fiscal 2025 | ||||||||||
Ying Mining District | 4,589 | $ 5,841 | 17,440 | $ 7,445 | 8,843 | $ 336 | $ 9,487 | $ 23,109 | 23,008 | 52,136 |
GC Mine | 154 | 4 | 2,743 | 1,308 | 9,649 | 210 | 69 | 1,591 | 2,642 | 4,659 |
El Domo | — | — | — | — | — | 2,533 | — | 2,533 | — | — |
Condor | — | — | — | — | — | 569 | — | 569 | — | — |
Other | — | — | — | — | — | 249 | 8 | 257 | — | — |
Consolidated | 4,743 | 5,845 | 20,183 | 8,753 | 18,492 | 3,897 | 9,564 | 28,059 | 25,650 | 56,795 |
Q2 Fiscal 2024 | ||||||||||
Ying Mining District | 2,703 | $ 1,943 | 20,147 | $ 8,042 | 40,854 | $ 1,481 | $ 2,266 | $ 13,732 | 9,460 | 22,968 |
GC Mine | 248 | 195 | 1,629 | 428 | 5,782 | 420 | 193 | 1,236 | 1,408 | 6,580 |
Other | — | — | — | — | — | 76 | 14 | 90 | — | — |
Consolidated | 2,951 | 2,138 | 21,776 | 8,470 | 46,636 | 1,977 | 2,473 | 15,058 | 10,868 | 29,548 |
Variances (%) | ||||||||||
Ying Mining District | 70 % | 201 % | (13) % | (7) % | (78) % | (77) % | 319 % | 68 % | 143 % | 127 % |
GC Mine | (38) % | (98) % | 68 % | 206 % | 67 % | (50) % | (64) % | 29 % | 88 % | (29) % |
Other | — % | — % | — % | — % | — % | 228 % | (43) % | 186 % | — % | — % |
Consolidated | 61 % | 173 % | (7) % | 3 % | -60 % | 97 % | 287 % | 86 % | 136 % | 92 % |
Total capital expenditures in Q2 Fiscal 2025 were
In Q2 Fiscal 2025, on a consolidated basis, a total of 75,287 metres or
INDIVIDUAL MINE OPERATING PERFORMANCE
Ying Mining District | Q2 F2025 | Q1 F2025 | Q4 F2024 | Q3 F2024 | Q2 F2024 | Six months ended September 30, | ||
September | June 30, | March 31, | December 31, | September | 2024 | 2023 | ||
Ore Production (tonne) | ||||||||
Ore mined | 272,046 | 256,079 | 147,122 | 245,606 | 220,636 | 528,125 | 434,384 | |
Ore milled | ||||||||
Gold ore | 17,075 | 8,476 | 21,843 | 12,726 | 12,800 | 25,551 | 23,693 | |
Silver ore | 193,423 | 212,766 | 158,424 | 201,475 | 200,068 | 406,189 | 397,984 | |
210,498 | 221,242 | 180,267 | 214,201 | 212,868 | 431,740 | 421,677 | ||
Head grades | ||||||||
Silver (grams/tonne) | 240 | 235 | 197 | 235 | 235 | 238 | 244 | |
Lead (%) | 2.8 | 3.1 | 3.1 | 3.5 | 3.5 | 3.0 | 3.5 | |
Zinc (%) | 0.6 | 0.7 | 0.6 | 0.7 | 0.7 | 0.6 | 0.7 | |
Recovery rates | ||||||||
Silver (%) | 94.9 | 95.0 | 94.4 | 94.9 | 95.0 | 94.9 | 95.0 | |
Lead (%) | 94.0 | 94.4 | 95.0 | 94.8 | 95.0 | 94.2 | 95.3 | |
Zinc (%) | 70.4 | 72.3 | 70.2 | 71.4 | 71.1 | 71.4 | 70.3 | |
Cash Costs | ||||||||
Cash production cost per tonne of ore processed ($) | 92.86 | 90.46 | 91.09 | 84.01 | 83.53 | 91.65 | 84.54 | |
All-in sustaining cost per tonne of ore processed ($) | 146.90 | 140.25 | 148.24 | 143.80 | 142.84 | 143.51 | 138.42 | |
Cash cost per ounce of Silver, net of by-product credits ($) | 0.62 | (0.68) | 1.71 | (0.09) | (1.37) | (0.05) | (0.52) | |
All-in sustaining cost per ounce of silver, net of by-product credits ($) | 9.05 | 7.14 | 12.28 | 8.99 | 8.06 | 8.07 | 7.58 | |
Metal Production | ||||||||
Gold ( ounces) | 1,183 | 1,146 | 1,916 | 1,342 | 2,458 | 2,329 | 4,010 | |
Silver (in thousands of ounces) | 1,518 | 1,572 | 1,063 | 1,511 | 1,506 | 3,090 | 3,103 | |
Lead (in thousands of pounds) | 11,970 | 14,080 | 11,317 | 14,552 | 15,018 | 26,050 | 30,400 | |
Zinc (in thousands of pounds) | 1,795 | 2,468 | 1,750 | 2,153 | 2,197 | 4,263 | 4,310 | |
In Q2 Fiscal 2025, a total of 272,046 tonnes of ore were mined at the Ying Mining District, up
Average head grades of ore processed were 240 g/t for silver,
Metals produced at the Ying Mining District were approximately 1,183 ounces of gold, 1.5 million ounces of silver, or approximately 1.6 million ounces of silver equivalent, plus 12.0 million pounds of lead, and 1.8 million pounds of zinc, representing a production increase of
GC Mine | Q2 F2025 | Q1 F2025 | Q4 F2024 | Q3 F2024 | Q2 F2024 | Six months ended September 30, | ||
September 30, | June 30, | March 31, | December 31, | September 30, | 2024 | 2023 | ||
Ore Production (tonne) | ||||||||
Ore mined | 89,394 | 87,768 | 48,038 | 99,667 | 52,829 | 177,162 | 142,301 | |
Ore milled | 86,707 | 86,454 | 57,226 | 98,299 | 48,239 | 173,161 | 134,525 | |
Head grades | ||||||||
Silver (grams/tonne) | 61 | 64 | 57 | 68 | 66 | 63 | 75 | |
Lead (%) | 0.8 | 0.9 | 1.1 | 1.1 | 1.1 | 0.8 | 1.3 | |
Zinc (%) | 2.4 | 2.4 | 2.5 | 2.7 | 2.5 | 2.4 | 2.7 | |
Recovery rates | ||||||||
Silver (%) | 82.2 | 84.1 | 83.2 | 80.3 | 82.7 | 83.2 | 82.7 | |
Lead (%) | 87.9 | 90.2 | 89.8 | 90.9 | 90.2 | 89.1 | 90.6 | |
Zinc (%) | 90.2 | 90.4 | 89.3 | 90.1 | 89.8 | 90.3 | 90.2 | |
Cash Costs | ||||||||
Cash production cost per tonne of ore processed ($) | 50.08 | 50.49 | 63.12 | 50.38 | 68.18 | 50.28 | 64.25 | |
All-in sustaining cost per tonne of ore processed ($) | 74.53 | 83.42 | 78.32 | 76.84 | 99.75 | 78.97 | 94.12 | |
Cash cost per ounce of Silver, net of by-product credits ($) | (15.67) | (12.19) | (4.79) | (8.95) | 5.64 | (13.85) | (1.99) | |
All-in sustaining cost per ounce of silver, net of by-product credits ($) | 1.62 | 8.45 | 6.63 | 8.01 | 25.95 | 5.19 | 14.49 | |
Metal Production | ||||||||
Silver (in thousands of ounces) | 137 | 145 | 87 | 173 | 84 | 282 | 267 | |
Lead (in thousands of pounds) | 1,232 | 1,539 | 1,210 | 2,211 | 1,047 | 2,771 | 3,481 | |
Zinc (in thousands of pounds) | 4,016 | 3,966 | 2,809 | 5,251 | 2,404 | 7,982 | 7,112 | |
In Q2 Fiscal 2025, a total of 89,394 tonnes of ore were mined at the GC Mine, up
In Q2 Fiscal 2025, approximately 12,700 tonnes of waste was removed through the XRT Ore Sorting System.
Average head grades of ore milled were 61 g/t for silver,
Metals produced at the GC Mine were approximately 137 thousand ounces of silver, 1.2 million pounds of lead, and 4.0 million pounds of zinc, representing increases of
CONFERENCE CALL DETAILS
A conference call to discuss these results will be held tomorrow, Friday, November 8, at 9:00 am PDT (12:00 pm EDT). To participate in the conference call, please dial the numbers below.
International/Local Toll: 437-900-0527
Conference ID: 69957
Participants should dial-in 10 – 15 minutes prior to the start time. A replay of the conference call and transcript will be available on the Company's website at www.silvercorpmetals.com.
Mr. Guoliang Ma, P.Geo., Manager of Exploration and Resources of the Company, is the Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and given consent to the technical information contained in this news release.
About Silvercorp
Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growth potential. The Company's strategy is to create shareholder value by 1) focusing on generating free cashflow from long life mines; 2) organic growth through extensive drilling for discovery; 3) ongoing merger and acquisition efforts to unlock value; and 4) long term commitment to responsible mining and ESG. For more information, please visit our website at www.silvercorpmetals.com.
For further information
Silvercorp Metals Inc.
Lon Shaver
President
Phone: (604) 669-9397
Toll Free 1(888) 224-1881
Email: investor@silvercorp.ca
Website: www.silvercorpmetals.com
ALTERNATIVE PERFORMANCE (NON-IFRS) MEASURES
This news release should be read in conjunction with the Company's Management Discussion & Analysis ("MD&A"), the unaudited condensed interim consolidated financial statements and related notes contains therein for the three and nine months ended September 30, 2024, which have been posted on SEDAR+ under the Company's profile at www.sedarplus.ca and on EDGAR at www.sec.gov, and are also available on the Company's website at www.silvercorpmetals.com under the Investor section. This news release refers to various alternative performance (non-IFRS) measures, such as adjusted earnings and adjusted earnings per share, cash cost and all-in sustaining cost per ounce of silver, net of by-product credits, production cost and all-in sustaining production cost per tonne of ore processed, silver equivalent, and working capital. These measures are widely used in the mining industry as a benchmark for performance, but do not have standardized meanings under IFRS as an indicator of performance and may differ from methods used by other companies with similar description. The detailed description and reconciliation of these alternative performance (non-IFRS) measures have been incorporated by reference and can be found on page 49, section 12 – Alternative Performance (Non-IFRS) Measures in the MD&A for the three and six months ended September 30, 2024 filled on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov and which is incorporated by reference here in.
CAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTS
Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian and US securities laws (collectively, "forward-looking statements"). Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. Forward-looking statements relate to, among other things: the price of silver and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company's material properties; the sufficiency of the Company's capital to finance the Company's operations; estimates of the Company's revenues and capital expenditures; estimated production from the Company's mines in the Ying Mining District and the GC Mine; timing of receipt of permits and regulatory approvals; availability of funds from production to finance the Company's operations; and access to and availability of funding for future construction, use of proceeds from any financing and development of the Company's properties.
Actual results may vary from forward-looking statements. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks relating to: global economic and social impact of public health pandemic; fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licences; title to properties; property interests; joint venture partners; acquisition of commercially mineable mineral rights; financing; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into the Company's existing operations; competition; operations and political conditions; regulatory environment in
This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Annual Information Form under the heading "Risk Factors" and in the Company's Annual Report on Form 40-F, and in the Company's other filings with Canadian and
The Company's forward-looking statements are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, guidance cannot be guaranteed. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.
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SOURCE Silvercorp Metals Inc
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