SILVERCORP REPORTS ADJUSTED NET INCOME OF $20.6 MILLION, $0.12 PER SHARE,AND CASH FLOW FROM OPERATIONS OF $40.0 MILLION FOR Q1 FISCAL 2025
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 (NYSE: SVM) ha riportato i risultati finanziari e operativi per il primo trimestre dell'esercizio fiscale 2025, evidenziando un utile netto rettificato di $20,6 milioni, ovvero $0,12 per azione, e un flusso di cassa operativo di $40,0 milioni.
I principali indicatori includono:
- Ricavi totali di $72,2 milioni, in aumento del 20% rispetto all'anno precedente
- Utile netto di $21,9 milioni, in crescita del 138% rispetto all'anno precedente
- Estrazione di 343.847 tonnellate di minerale e molitura di 307.696 tonnellate
- Produzione di 1,7 milioni di once d'argento e 1.146 once d'oro
- Solida situazione patrimoniale con $215,7 milioni in contante e investimenti
L'azienda ha affrontato cali nella produzione di oro, argento, piombo e zinco a causa di un basso grado di concentrazione e minerale di riserva non lavorato, che si prevede sarà trattato entro il terzo trimestre dell'anno fiscale 2025.
Investimenti significativi hanno incluso $1,0 milioni in esplorazione, $13,9 milioni nello sviluppo sotterraneo e $4,6 milioni in attrezzature. L'acquisizione di Adventus Mining, completata a luglio 2024, contribuirà a diversificare le operazioni con i progetti El Domo e Condor in Ecuador.
Silvercorp Metals (NYSE: SVM) reportó resultados financieros y operativos para el primer trimestre del año fiscal 2025, destacando un ingreso neto ajustado de $20.6 millones, o $0.12 por acción, y un flujo de caja operativo de $40.0 millones.
Las métricas clave incluyen:
- Ingresos totales de $72.2 millones, un aumento del 20% interanual
- Ingreso neto de $21.9 millones, un aumento del 138% interanual
- Extracción de 343,847 toneladas de mineral y molienda de 307,696 toneladas
- Producción de 1.7 millones de onzas de plata y 1,146 onzas de oro
- Fuerte situación financiera con $215.7 millones en efectivo e inversiones
La empresa enfrentó disminuciones en la producción de oro, plata, plomo y zinc debido a menores grados de mineral y reservas no procesadas, que se espera sean procesadas para el tercer trimestre del año fiscal 2025.
Las inversiones significativas incluyeron $1.0 millones en exploración, $13.9 millones en desarrollo subterráneo y $4.6 millones en equipos. La adquisición de Adventus Mining, completada en julio de 2024, está diseñada para diversificar las operaciones con los proyectos El Domo y Condor en Ecuador.
실버코프 메탈스 (NYSE: SVM)는 2025 회계연도 1분기 재무 및 운영 결과를 보고하며, 조정된 순이익이 2천6백만 달러(주당 0.12달러), 운영 현금 흐름은 4천만 달러임을 강조했습니다.
주요 지표는 다음과 같습니다:
- 총 수익 7천2백20만 달러, 전년 대비 20% 증가
- 순이익 2천1백90만 달러, 전년 대비 138% 증가
- 광산에서 343,847 톤의 광석을 채굴하고 307,696 톤을 가공
- 170만 온스의 은과 1,146온스의 금 생산
- 215.7백만 달러의 현금 및 투자로 강력한 재무 구조
회사는 금, 은, 납 및 아연 생산량이 낮은 원석 등급과 가공되지 않은 재고로 인해 감소했으며, 이는 2025 회계연도 3분기까지 가공될 예정입니다.
주요 투자에는 탐사에 100만 달러, 지하 개발에 1390만 달러, 장비에 460만 달러가 포함되었습니다. 2024년 7월에 완료된 Adventus Mining 인수는 에콰도르의 El Domo 및 Condor 프로젝트로 운영을 다양화할 계획입니다.
Silvercorp Metals (NYSE: SVM) a annoncé les résultats financiers et opérationnels du premier trimestre de l'exercice fiscal 2025, mettant en avant un bénéfice net ajusté de 20,6 millions de dollars, soit 0,12 dollar par action, et un flux de trésorerie opérationnel de 40,0 millions de dollars.
Les indicateurs clés comprennent :
- Chiffre d'affaires total de 72,2 millions de dollars, en hausse de 20 % par rapport à l'année précédente
- Bénéfice net de 21,9 millions de dollars, en augmentation de 138 % par rapport à l'année précédente
- Extraction de 343 847 tonnes de minerai et broyage de 307 696 tonnes
- Production de 1,7 million d'onces d'argent et 1 146 onces d'or
- Une solidité financière avec 215,7 millions de dollars en liquidités et investissements
L'entreprise a rencontré une baisse de la production d'or, d'argent, de plomb et de zinc en raison de teneurs plus faibles et de stocks non traités, qui devraient être traités d'ici le troisième trimestre de l'exercice fiscal 2025.
Les investissements majeurs comprenaient 1,0 million de dollars dans l'exploration, 13,9 millions de dollars dans le développement souterrain et 4,6 millions de dollars dans l'équipement. L'acquisition d'Adventus Mining, finalisée en juillet 2024, vise à diversifier les opérations avec les projets El Domo et Condor en Équateur.
Silvercorp Metals (NYSE: SVM) berichtete über die finanziellen und operativen Ergebnisse für das erste Quartal des Geschäftsjahres 2025 und hob ein angepasstes Nettoergebnis von 20,6 Millionen US-Dollar oder 0,12 US-Dollar pro Aktie sowie einen operativen Cashflow von 40,0 Millionen US-Dollar hervor.
Wichtige Kennzahlen sind:
- Gesamtumsatz von 72,2 Millionen US-Dollar, ein Anstieg von 20% im Vergleich zum Vorjahr
- Nettoergebnis von 21,9 Millionen US-Dollar, ein Anstieg von 138% im Vergleich zum Vorjahr
- Abgebaut wurden 343.847 Tonnen Erz und 307.696 Tonnen gemahlen
- Produziert wurden 1,7 Millionen Unzen Silber und 1.146 Unzen Gold
- Starker Bilanz mit 215,7 Millionen US-Dollar in Bar und Investitionen
Das Unternehmen musste Rückgänge in der Produktion von Gold, Silber, Blei und Zink aufgrund niedrigerer Gehalte und unbearbeitetem Lagerstättenmaterial hinnehmen, das voraussichtlich im dritten Quartal des Geschäftsjahres 2025 verarbeitet wird.
Zu den wesentlichen Investitionen gehörten 1,0 Millionen US-Dollar für Exploration, 13,9 Millionen US-Dollar für unterirdische Entwicklung und 4,6 Millionen US-Dollar für Ausrüstung. Die im Juli 2024 abgeschlossene Akquisition von Adventus Mining soll die Tätigkeiten mit den Projekten El Domo und Condor in Ecuador diversifizieren.
- Adjusted net income of $20.6 million, up 67% YoY
- Operating cash flow of $40.0 million, up 38% YoY
- Net income of $21.9 million, up 138% YoY
- Revenue of $72.2 million, up 20% YoY
- Strong balance sheet with $215.7 million in cash and investments, up 17% QoQ
- Acquisition of Adventus Mining to diversify operations
- Gold production down 26% YoY
- Silver production down 4% YoY
- Lead production down 12% YoY
- Zinc production down 6% YoY
- Increased production cost per tonne by 2% YoY
Insights
Silvercorp Metals reported strong financial results for Q1 Fiscal 2025, with notable improvements across key metrics. Adjusted net income rose 67% year-over-year to
The company maintained a robust balance sheet with
While production volumes declined modestly due to lower grades and mill constraints, Silvercorp expects to process stockpiled ore later this fiscal year as mill expansion is completed. The company appears well-positioned financially to fund growth initiatives and navigate near-term challenges.
Silvercorp's operational performance in Q1 shows both strengths and challenges. Total ore mined increased 13% year-over-year to 343,847 tonnes, demonstrating solid execution on mine development. However, metal production declined across the board, with silver output down
The production declines stem from two key factors: lower ore grades in line with the current mine plan and 59,293 tonnes of stockpiled ore awaiting processing due to mill capacity constraints. The company expects to address the latter issue when its 1,500 tonne per day mill expansion at Ying comes online in Q3.
Notably, Silvercorp has increased its exploration and development activities, with total capital expenditures up
The acquisition of Adventus Mining, completed after quarter-end, adds promising development projects in Ecuador to Silvercorp's portfolio, enhancing its geographic diversification and growth potential.
Silvercorp benefited significantly from higher metal prices in Q1 Fiscal 2025. Realized silver prices jumped
Gold, lead and zinc prices also saw double-digit percentage increases, contributing to the company's strong financial performance despite lower production volumes. The higher prices helped drive a
Looking ahead, precious metals prices remain supportive, with ongoing economic uncertainties and geopolitical tensions providing tailwinds. However, base metals face a more mixed outlook due to concerns about global economic growth, particularly in China.
Silvercorp's negative cash cost per silver ounce (after by-product credits) of
Trading Symbol: TSX: SVM
NYSE AMERICAN: SVM
HIGHLIGHTS FOR Q1 FISCAL 2025
- Mined 343,847 tonnes of ore, milled 307,696 tonnes of ore, and produced approximately 1,146 ounces of gold, 1.7 million ounces of silver, or approximately 1.8 million ounces of silver equivalent, plus 15.6 million pounds of lead and 6.4 million pounds of zinc;
- Sold approximately 998 ounces of gold, 1.7 million ounces of silver, 15.7 million pounds of lead, and 6.5 million pounds of zinc, for revenue of
$72.2 million - Reported net income attributable to equity shareholders of
$21.9 million $0.12 - Realized adjusted basic earnings attributable to equity shareholders of
$20.6 million $0.12 - Generated cash flow from operating activities of
$40.0 million - Cash cost per ounce of silver, net of by-product credits, of negative
$1.67 - All-in sustaining cost per ounce of silver, net of by-product credits, of
$9.82 - Spent and capitalized
$1.0 million $13.9 million $4.6 million $2.8 million - Strong balance sheet with
$215.7 million $18.8 million $108.2 million - Inventory stockpile ore amounted to 59,293 tonnes not yet processed due to mill capacity constraints, with additional ore to be added to the stockpile in the coming quarter. If the stockpile had been processed, the Company's metal production would have aligned with its Fiscal 2025 annual guidance, and is anticipated to be processed when the 1,500 tonne per day new mill is in operation by November 2024; and
- Announced the completion of the acquisition of Adventus on July 31, 2024 to create geographically diversified mining company by adding the advanced El Domo Project and the Condor Projects, both located in
Ecuador .
CONSOLIDATED FINANCIAL RESULTS
Three months ended June 30, | |||
2024 | 2023 | Changes | |
Financial Results | |||
Revenue (in thousands of $) | $ 72,165 | $ 60,006 | 20 % |
Mine operating earnings (in thousands of $) | 36,514 | 23,301 | 57 % |
Net income (loss) attributable to equity holders (in thousands of $) | 21,938 | 9,217 | 138 % |
Earnings (loss) per share - basic ($/share) | 0.12 | 0.05 | 137 % |
Adjusted earnings attributable to equity holders (in thousands of $) | 20,618 | 12,369 | 67 % |
Adjusted earnings per share - basic ($/share) | 0.12 | 0.07 | 71 % |
Net cash generated from operating activities (in thousands of $) | 39,955 | 28,881 | 38 % |
Capitalized expenditures (in thousands of $) | 19,656 | 15,916 | 23 % |
Metals sold | |||
Gold (ounces) | 998 | 1,495 | -33 % |
Silver (in thousands of ounces) | 1,739 | 1,815 | -4 % |
Lead (in thousands of pounds) | 15,663 | 17,330 | -10 % |
Zinc (in thousands of pounds) | 6,484 | 6,920 | -6 % |
Average Selling Price, Net of Value Added Tax and Smelter Charges | |||
Gold ($/ounce) | 1,990 | 1,682 | 18 % |
Silver ($/ounce) | 26.34 | 19.37 | 36 % |
Lead ($/pound) | 0.99 | 0.84 | 18 % |
Zinc ($/pound) | 1.01 | 0.82 | 23 % |
Financial Position as at | June 30, 2024 | March 31, 2024 | |
Cash and cash equivalents and short-term investments (in thousands of $) | 215,739 | 184,891 | 17 % |
Working capital (in thousands of $) | 178,893 | 154,744 | 16 % |
Net income attributable to equity shareholders of the Company in Q1 Fiscal 2025 was
Compared to Q1 Fiscal 2024, the Company's consolidated financial results were mainly impacted by i) increases of
Excluding certain non-cash, non-recurring, and non-routine items, the adjusted basic earnings to equity shareholders were
Revenue in Q1 Fiscal 2025 was
Income from mine operations in Q1 Fiscal 2025 was
Cash flow provided by operating activities in Q1 Fiscal 2025 was
The Company ended the quarter with
CONSOLIDATED OPERATIONAL RESULTS
Three months ended June 30, | |||
2024 | 2023 | Changes | |
Production Data | |||
Ore Mined (tonnes) | 343,847 | 303,220 | 13 % |
Ore Milled (tonnes) | |||
Gold Ore | 8,476 | 10,893 | -22 % |
Silver Ore | 299,220 | 284,202 | 5 % |
307,696 | 295,095 | 4 % | |
Metal Production | |||
Gold (ounces) | 1,146 | 1,552 | -26 % |
Silver (in thousands of ounces) | 1,717 | 1,780 | -4 % |
Silver equivalent (in thousands of ounces) | 1,802 | 1,912 | -6 % |
Lead (in thousands of pounds) | 15,619 | 17,816 | -12 % |
Zinc (in thousands of pounds) | 6,434 | 6,821 | -6 % |
Cost Data | |||
Production cost ($/tonne) | 80.37 | 78.63 | 2 % |
All-in sustaining production cost ($/tonne) | 139.96 | 134.08 | 4 % |
Cash cost per ounce of silver, net of by-product credits ($) | (1.67) | (0.31) | -439 % |
All-in sustaining cost per ounce of silver, net of by-product credits ($) | 9.82 | 9.46 | 4 % |
In Q1 Fiscal 2025, the Company mined 343,847 tonnes of ore, up
In Q1 Fiscal 2025, the Company produced approximately 1,146 ounces of gold, 1.7 million ounces of silver, or approximately 1.8 million ounces of silver equivalent, plus 15.6 million pounds of lead and 6.4 million pounds of zinc, representing decreases of
In Q1 Fiscal 2025, the consolidated mining cost was
In Q1 Fiscal 2025, the consolidated cash cost per ounce of silver, net of by-product credits, was negative
EXPLORATION AND DEVELOPMENT
Capitalized Development and Expenditures | Expensed | |||||||||
Ramp Development | Exploration and | Drilling and other | Equipment & | Total | Mining | Drilling | ||||
(Metres) | ($ Thousand) | (Metres) | ($ Thousand) | (Metres) | ($ Thousand) | ($ Thousand) | ($ Thousand) | (Metres) | (Metres) | |
Q1 Fiscal 2025 | ||||||||||
Ying Mining District | 15,065 | $ 7,681 | 15,090 | $ 4,328 | 21,036 | $ 663 | $ 4,570 | $ 17,242 | 11,830 | 44,823 |
GC Mine | 1,781 | 697 | 3,106 | 1,247 | 15,921 | 345 | 41 | 2,330 | 2,465 | 5,533 |
Corporate and other | — | — | — | — | — | 76 | 8 | 84 | — | — |
Consolidated | 16,846 | $ 8,378 | 18,196 | $ 5,575 | 36,957 | $ 1,084 | $ 4,619 | $ 19,656 | 14,295 | 50,356 |
Q1 Fiscal 2024 | ||||||||||
Ying Mining District | 5,017 | $ 3,016 | 17,439 | $ 6,447 | 32,839 | $ 1,151 | $ 3,430 | $ 14,044 | 8,443 | 25,937 |
GC Mine | 896 | 494 | 2,917 | 800 | 7,926 | 518 | — | 1,812 | 3,055 | 17,897 |
Corporate and other | — | — | — | — | — | 51 | 9 | 60 | — | — |
Consolidated | 5,913 | $ 3,510 | 20,356 | $ 7,247 | 40,765 | $ 1,720 | $ 3,439 | $ 15,916 | 11,498 | 43,834 |
Changes (%) | ||||||||||
Ying Mining District | 200 % | 155 % | -13 % | -33 % | -36 % | -42 % | 33 % | 23 % | 40 % | 73 % |
GC Mine | 99 % | 41 % | 6 % | 56 % | 101 % | -33 % | — | 29 % | -19 % | -69 % |
Corporate and other | — | — | — | — | — | 49 % | -11 % | 40 % | — | — |
Consolidated | 185 % | 139 % | -11 % | -23 % | -9 % | -37 % | 34 % | 23 % | 24 % | 15 % |
Total capital expenditures in Q1 Fiscal 2025 were
In Q1 Fiscal 2025, on a consolidated basis, a total of 87,313 metres or
INDIVIDUAL MINE OPERATING PERFORMANCE
Ying Mining District | Q1 F2025 | Q4 F2024 | Q3 F2024 | Q2 F2024 | Q1 F2024 |
June 30, 2024 | March 31, 2024 | December 31, 2023 | September 30, 2023 | June 30, 2023 | |
Ore Production (tonnes) | |||||
Ore mined | 256,079 | 147,122 | 245,606 | 220,636 | 213,748 |
Ore milled | |||||
Gold ore | 8,476 | 21,843 | 12,726 | 12,800 | 10,893 |
Silver ore | 212,766 | 158,424 | 201,475 | 200,068 | 197,916 |
221,242 | 180,267 | 214,201 | 212,868 | 208,809 | |
Head grades | |||||
Silver (grams/tonne) | 235 | 197 | 235 | 235 | 254 |
Lead (%) | 3.1 | 3.1 | 3.5 | 3.5 | 3.6 |
Zinc (%) | 0.7 | 0.6 | 0.7 | 0.7 | 0.7 |
Recovery rates | |||||
Silver (%) | 95.0 | 94.4 | 94.9 | 95.0 | 95.1 |
Lead (%) | 94.4 | 95.0 | 94.8 | 95.0 | 95.5 |
Zinc (%) | 72.3 | 70.2 | 71.4 | 71.1 | 69.6 |
Cash Costs | |||||
Cash production cost per tonne of ore processed ($) | 90.46 | 91.09 | 84.01 | 83.53 | 85.58 |
All-in sustaining cost per tonne of ore processed ($) | 140.25 | 148.24 | 143.80 | 142.84 | 133.94 |
Cash cost per ounce of Silver, net of by-product credits ($) | (0.68) | 1.71 | (0.09) | (1.37) | 0.26 |
All-in sustaining cost per ounce of silver, net of by-product credits ($) | 7.14 | 12.28 | 8.99 | 8.06 | 7.14 |
Metal Production | |||||
Gold (ounces) | 1,14698 | 1,916 | 1,342 | 2,458 | 1,552 |
Silver (in thousands of ounces) | 1,572 | 1,063 | 1,511 | 1,506 | 1,597 |
Lead (in thousands of pounds) | 14,080 | 11,317 | 14,552 | 15,018 | 15,382 |
Zinc (in thousands of pounds) | 2,468 | 1,750 | 2,153 | 2,197 | 2,113 |
In Q1 Fiscal 2025, a total of 256,079 tonnes of ore were mined at the Ying Mining District, up
GC Mine | Q1 F2025 | Q4 F2024 | Q3 F2024 | Q2 F2024 | Q1 F2024 |
June 30, 2024 | March 31, 2024 | December 31, 2023 | September 30, 2023 | June 30, 2023 | |
Ore Production (tonnes) | |||||
Ore mined | 87,768 | 48,038 | 99,667 | 52,829 | 89,472 |
Ore milled | 86,454 | 57,226 | 98,299 | 48,239 | 86,286 |
Head grades | |||||
Silver (grams/tonne) | 64 | 57 | 68 | 66 | 80 |
Lead (%) | 0.9 | 1.1 | 1.1 | 1.1 | 1.4 |
Zinc (%) | 2.4 | 2.5 | 2.7 | 2.5 | 2.7 |
Recovery rates | |||||
Silver (%) | 84.1 | 83.2 | 80.3 | 82.7 | 82.7 |
Lead (%) | 90.2 | 89.8 | 90.9 | 90.2 | 90.7 |
Zinc (%) | 90.4 | 89.3 | 90.1 | 89.8 | 90.4 |
Cash Costs | |||||
Cash production cost per tonne of ore processed ($) | 50.49 | 63.12 | 50.38 | 68.18 | 62.02 |
All-in sustaining cost per tonne of ore processed ($) | 83.42 | 78.32 | 76.84 | 99.75 | 90.94 |
Cash cost per ounce of Silver, net of by-product credits ($) | (12.19) | (4.79) | (8.95) | 5.64 | (5.30) |
All-in sustaining cost per ounce of silver, net of by-product credits ($) | 8.45 | 6.63 | 8.01 | 25.95 | 9.51 |
Metal Production | |||||
Silver (in thousands of ounces) | 145 | 87 | 173 | 84 | 183 |
Lead (in thousands of pounds) | 1,539 | 1,210 | 2,211 | 1,047 | 2,434 |
Zinc (in thousands of pounds) | 3,966 | 2,809 | 5,251 | 2,404 | 4,708 |
In Q1 Fiscal 2025, a total of 87,768 tonnes of ore were mined at the GC Mine, down
Metals produced at the GC Mine were approximately 145 thousand ounces of silver, 1.6 million pounds of lead, and 4.0 million pounds of zinc, representing decreases of
CONFERENCE CALL DETAILS
A conference call to discuss these results will be held tomorrow, Wednesday, August 14, at 9:00 am PDT (12:00 pm EDT). To participate in the conference call, please dial the numbers below.
International/Local Toll: 416-764-8650
Conference ID: 54868081
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.silvercorp.ca.
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.silvercorp.ca.
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.silvercorp.ca
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 months ended June 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.silvercorp.ca 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 40, section 12 – Alternative Performance (Non-IFRS) Measures in the MD&A for the three months ended June 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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