Silvercorp Reports Operational Results and Financial Results Release Date for Fiscal 2026, and Issues Fiscal 2027 Production, Cash Cost, and Capital Expenditure Guidance
Rhea-AI Summary
Silvercorp (TSX: SVM, NYSE American: SVM) reported Q4 Fiscal 2026 and Fiscal 2026 operational results and issued Fiscal 2027 production, cost, and capex guidance. Q4 revenue was approximately $147.4M (+96% YoY); Fiscal 2026 revenue was approximately $438.1M (+47% YoY). Fiscal 2027 guidance targets 6.8–7.1M oz silver, 9,500–10,000 oz gold, and consolidated capex of $141.0M for China operations. The company expects audited Fiscal 2026 results on May 25, 2026.
Guidance also forecasts higher cash costs and AISC per tonne driven by contractor costs, additional development and the No. 3 Mill build at Ying.
Positive
- Q4 revenue $147.4M, up 96% year-over-year
- Fiscal 2026 revenue $438.1M, up 47% year-over-year
- Ore processed 1,475,512 tonnes in Fiscal 2026, beating guidance
- Fiscal 2027 production guidance: 6.8–7.1M oz silver and 9,500–10,000 oz gold
- $141.0M China capex program to expand Ying capacity and build No. 3 Mill
Negative
- Silver production down 2% year-over-year in Fiscal 2026 and 11% in Q4
- Zinc production down 23% year-over-year in Fiscal 2026
- Consolidated cash cost guidance rising to $83.3–85.4 per tonne in Fiscal 2027
- Ying AISC guidance increases to $155.4–161.2 per tonne, above prior periods
- Significant near-term capex ($124.1M Ying) may pressure free cash flow in Fiscal 2027
News Market Reaction – SVM
On the day this news was published, SVM gained 1.50%, reflecting a mild positive market reaction. Argus tracked a peak move of +4.1% during that session. Our momentum scanner triggered 12 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $44M to the company's valuation, bringing the market cap to $2.96B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
SVM is up 2.43% while key silver peers EXK (-2.99%), MAG (-1.96%), and AG (-1.13%) are down, indicating a stock-specific reaction to the operational and guidance update rather than a sector-wide move.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 09 | Q3 2026 earnings | Positive | +0.9% | Q3 results with 51% revenue growth and strong cash flow metrics. |
| Jan 15 | Q3 ops update | Positive | +10.9% | Q3 operational results and revenue up 51% with higher throughput. |
| Nov 06 | Q2 2026 earnings | Positive | +1.9% | Q2 earnings with revenue growth and higher adjusted income and EBITDA. |
| Oct 15 | Q2 ops update | Positive | +4.0% | Q2 operational results showing higher silver-equivalent output and revenue. |
| Jul 15 | Q1 ops update | Positive | -7.7% | Q1 operational results with higher revenue and silver output but lower zinc. |
Earnings and operational updates have more often led to positive price reactions, though there has been at least one sharp selloff despite stronger metrics.
Over recent quarters, Silvercorp’s earnings and operational updates have highlighted rising revenue and steady silver-equivalent output. Q1–Q3 Fiscal 2026 releases showed revenue growth from $81.3M to about $126.1M, with consistent silver-equivalent production and active exploration and project development. Market reactions were mostly positive, including a 10.88% move on a strong Q3 operational update, but one Q1 release saw a -7.71% decline despite higher revenue. Today’s Fiscal 2026 results and Fiscal 2027 guidance fit into this pattern of growing throughput and project build-out.
Historical Comparison
In the past year, SVM’s earnings and operational updates moved the stock by an average of 2.02%. Today’s 2.43% gain is broadly in line with that typical reaction range.
Earnings-related releases have shown a stepwise progression: rising quarterly revenue, stable to growing silver-equivalent output, and advancing growth projects like El Domo and Kuanping. The latest Fiscal 2026 results and Fiscal 2027 guidance extend this trajectory with record annual revenue and detailed production and cost targets.
Market Pulse Summary
This announcement details record Fiscal 2026 revenue of $438.1M, higher ore throughput, and Fiscal 2027 guidance calling for modest growth in silver-equivalent production alongside higher cash cost and AISC metrics. It also outlines substantial capital spending, including $141.0M for China operations and a total El Domo budget of $283.6M. Investors may monitor how actual costs track against guidance, progress on the No. 3 Mill and El Domo timelines, and future earnings releases for confirmation of these plans.
Key Terms
silver equivalent technical
cash cost financial
all-in sustaining cost financial
AISC financial
NI 43-101 regulatory
open pit technical
ESG technical
AI-generated analysis. Not financial advice.
Trading Symbol: TSX/NYSE American: SVM
Q4 Fiscal 2026 Operational Highlights
- Record revenue of approximately
$147.4 million 96% over the same quarter last year ("Q4 Fiscal 2025"); - Silver production of 1.5 million ounces, a decrease of
11% over Q4 Fiscal 2025; silver equivalent (only silver and gold)i production of 1.6 million ounces, a decrease of17% compared to 1.9 million ounces in Q4 Fiscal 2025; - Lead production of 14.0 million pounds, a decrease of
14% over Q4 Fiscal 2025; - Zinc production of 3.9 million pounds, a decrease of
12% over Q4 Fiscal 2025; - Kuanping mine construction continued, with 1,335 metres ("m") of ramp development, 313 m of exploration tunneling and 1,625 m of drilling completed;
- El Domo mine construction continued to advance under enhanced water and soil conservation measures during the heavy rainfall season, with the haul roads and the ore stockpile shed completed; and
- MSCI ESG rating was upgraded from A to AA.
Fiscal 2026 Operational Highlights
- Record revenue of approximately
$438.1 million 47% over Fiscal 2025; - Ore processed of 1,475,512 tonnes, up
12% over Fiscal 2025, and beat the high end of 1,369,000 tonnes in the Company's annual production guidance; - Silver production of approximately 6.8 million ounces, a
2% decrease over Fiscal 2025; gold production of approximately 8,723 ounces, a16% increase over Fiscal 2025, and silver equivalent of 7.5 million ounces, even with Fiscal 2025; and - El Domo mine completed the site preparation for the processing plant, 5,000 square metre ROM ore shed, construction camp, internal roads, including roads to the TSF construction site, and orders of major equipment.
Q4 Fiscal 2026 Operational Results
The Ying Mining District processed 311,677 tonnes of ore, up
The GC Mine processed 48,840 tonnes of ore, up
Q4 Fiscal 2026 | Q4 Fiscal 2025 | ||||||
Ying Mining District | GC | Consolidated | Ying Mining District | GC | Consolidated | ||
Silver-lead Ore Processed (tonnes) | 279,627 | 48,840 | 328,467 | 265,199 | 41,760 | 306,959 | |
Silver (grams/tonne) | 161 | 52 | 198 | 61 | |||
Lead (%) | 2.2 | 0.9 | 2.9 | 0.9 | |||
Zinc (%) | 0.4 | 2.6 | 0.5 | 2.9 | |||
Gold Ore Processed (tonnes) | 32,050 | — | 32,050 | 39,025 | — | 39,025 | |
Gold (grams/tonne) | 1.1 | — | 1.4 | — | |||
Silver (grams/tonne) | 54 | — | 62 | — | |||
Lead (%) | 0.9 | — | 0.7 | — | |||
Total Ore Processed (tonnes) | 311,677 | 48,840 | 360,517 | 304,224 | 41,760 | 345,984 | |
Recovery Rates | |||||||
Silver (%) | 95.0 | 86.3 | 94.2 | 83.7 | |||
Gold (%)* | 90.8 | — | 91.7 | — | |||
Lead (%) | 93.2 | 93.5 | 92.3 | 87.4 | |||
Zinc (%) | 63.9 | 90.6 | 67.3 | 90.3 | |||
Metals Produced | |||||||
Silver (million ounces) | 1.4 | 0.1 | 1.5 | 1.6 | 0.1 | 1.6 | |
Gold (ounces) | 2,492 | — | 2,492 | 3,110 | — | 3,110 | |
Silver equivalent (million ounces) | 1.5 | 0.1 | 1.6 | 1.9 | 0.1 | 1.9 | |
Lead (million pounds) | 12.9 | 1.1 | 14.0 | 15.6 | 0.7 | 16.3 | |
Zinc (million pounds) | 1.4 | 2.5 | 3.9 | 2.0 | 2.4 | 4.4 | |
Metals Sold | |||||||
Silver (million ounces) | 1.4 | 0.1 | 1.5 | 1.5 | 0.1 | 1.6 | |
Gold (ounces) | 2,623 | — | 2,623 | 3,465 | — | 3,465 | |
Lead (million pounds) | 12.8 | 0.8 | 13.6 | 15.5 | 0.8 | 16.3 | |
Zinc (million pounds) | 1.4 | 2.4 | 3.9 | 2.1 | 2.4 | 4.5 | |
*Only representing the gold recovery rate for Gold Ore. |
Fiscal 2026 Operational Results
At the Ying Mining District, 1,188,459 tonnes of ore were processed, up
At the GC Mine, 287,053 tonnes of ore were processed, representing a decrease of
Year ended March 31, 2026 | Year ended March 31, 2025 | ||||||
Ying Mining District | GC | Consolidated | Ying Mining District | GC | Consolidated | ||
Silver-lead Ore Processed (tonnes) | 1,066,970 | 287,053 | 1,354,023 | 927,171 | 299,036 | 1,226,207 | |
Silver (grams/tonne) | 193 | 59 | 225 | 67 | |||
Lead (%) | 2.5 | 0.9 | 3.0 | 0.9 | |||
Zinc (%) | 0.4 | 2.7 | 0.6 | 2.5 | |||
Gold Ore Processed (tonnes) | 121,489 | — | 121,489 | 86,488 | — | 86,488 | |
Gold (grams/tonne) | 1.3 | — | 1.7 | — | |||
Silver (grams/tonne) | 61 | — | 72 | — | |||
Lead (%) | 0.9 | — | 0.9 | — | |||
Total Ore Processed (tonnes) | 1,188,459 | 287,053 | 1,475,512 | 1,013,659 | 299,036 | 1,312,695 | |
Recovery Rates | |||||||
Gold (%)* | 92.7 | — | 92.9 | ||||
Silver (%) | 95.4 | 85.7 | 94.7 | 83.1 | |||
Lead (%) | 93.7 | 93.4 | 93.6 | 89.3 | |||
Zinc (%) | 64.1 | 91.3 | 69.7 | 90.3 | |||
Metals Produced | |||||||
Silver (million ounces) | 6.3 | 0.5 | 6.8 | 6.4 | 0.5 | 6.9 | |
Gold (ounces) | 8,723 | — | 8,723 | 7,495 | — | 7,495 | |
Silver equivalent (million ounces) | 7.0 | 0.5 | 7.5 | 7.1 | 0.5 | 7.6 | |
Lead (million pounds) | 55.1 | 5.2 | 60.4 | 56.8 | 5.3 | 62.2 | |
Zinc (million pounds) | 6.6 | 15.1 | 21.7 | 8.6 | 14.8 | 23.3 | |
Metals Sold | |||||||
Silver (million ounces) | 6.4 | 0.5 | 6.8 | 6.4 | 0.5 | 6.9 | |
Gold (ounces) | 8,857 | — | 8,857 | 7,577 | — | 7,577 | |
Lead (million pounds) | 55.0 | 5.0 | 60.0 | 56.8 | 5.5 | 62.3 | |
Zinc (million pounds) | 6.6 | 15.1 | 21.7 | 8.6 | 14.9 | 23.5 | |
*Only representing the gold recovery rate for Gold Ore. |
Fiscal 2027 Production, Cash Cost, and Capital Expenditure Guidance
- Guidance for Fiscal 2027 production, cash and all-in sustaining costs (AISC)
In Fiscal 2027, the Company expects to process 1,526,600 to 1,607,000 tonnes of ore, yielding approximately 6.8 to 7.1 million ounces of silver, 9,500 to 10,000 ounces of gold, or 7.5 to 7.8 million ounces of silver equivalent, 62.7 to 65.8 million pounds of lead, and 22.3 to 23.4 million pounds of zinc. The guidance represents increases of
Fiscal 2027 Guidance | Year ended March 31, 2026 | |||||||||
Production | Ying Mining District | GC | Consolidated | Ying Mining District | GC | Consolidated | ||||
Low | High | Low | High | Low | High | Actual | ||||
Silver-lead Ore Processed (tonnes) | 1,106,000 | 1,164,000 | 290,000 | 305,000 | 1,396,000 | 1,469,000 | 1,066,970 | 287,053 | 1,354,023 | |
Silver (gram/t) | 201 | 68 | 193 | 59 | ||||||
Lead (%) | 2.7 | 1.0 | 2.5 | 0.9 | ||||||
Zinc (%) | 0.4 | 2.7 | 0.4 | 2.7 | ||||||
Gold Ore Processed (tonnes) | 131,000 | 138,000 | — | — | 131,000 | 138,000 | 121,489 | — | 121,489 | |
Gold (gram/t) | 1.7 | 1.3 | ||||||||
Silver (gram/t) | 42 | 61 | ||||||||
Lead (%) | 0.5 | 0.9 | ||||||||
Total Ore Processed (tonnes) | 1,237,000 | 1,302,000 | 290,000 | 305,000 | 1,526,600 | 1,607,000 | 1,188,459 | 287,053 | 1,475,512 | |
Metal Production | ||||||||||
Silver (million ounces) | 6.4 | 6.6 | 0.5 | 0.5 | 6.8 | 7.1 | 6.3 | 0.5 | 6.8 | |
Gold (ounces) | 9,500 | 10,000 | — | — | 9,500 | 10,000 | 8,723 | — | 8,723 | |
Silver Equivalent (million ounces) | 7.1 | 7.3 | 0.5 | 0.5 | 7.5 | 7.8 | 7.0 | 0.5 | 7.5 | |
Lead (million pounds) | 56.4 | 59.2 | 6.3 | 6.6 | 62.7 | 65.8 | 55.1 | 5.2 | 60.4 | |
Zinc (million pounds) | 6.8 | 7.1 | 15.5 | 16.3 | 22.3 | 23.4 | 6.6 | 15.1 | 21.7 | |
Fiscal 2027 Guidance | Nine months ended December 31, 2025 | |||||||||
Costs | Ying Mining District | GC | Consolidated | Ying Mining District | GC | Consolidated | ||||
Cash Cost ($/t) | 88.2 | 90.4 | 63.1 | 64.6 | 83.3 | 85.4 | 80.2 | 57.8 | 75.5 | |
AISC ($/t) | 155.4 | 161.2 | 90.4 | 93.3 | 155.3 | 161.2 | 134.1 | 82.9 | 137.2 | |
The Ying Mining District plans to process 1,237,000 to 1,302,000 tonnes of ore, including nominal development ore from Kuanping, to produce 6.4 to 6.6 million ounces of silver, 9,500 to 10,000 ounces of gold, 56.4 to 59.2 million pounds of lead, and 6.8 to 7.1 million pounds of zinc for Fiscal 2027. This production guidance represents production increases of
The cash costii at the Ying Mining District is expected to be
The GC Mine plans to process 290,000 to 305,000 tonnes of ore to produce 0.46 to 0.49 million ounces of silver, 6.3 to 6.6 million pounds of lead, and 15.5 to 16.3 million pounds of zinc. Fiscal 2027 production guidance at the GC Mine represents production increases of
The cash cost at the GC Mine is expected to be
The consolidated cash cost in Fiscal 2027 is expected to be
Fiscal 2027 capital expenditure guidance for China Operations
The table below summarizes the capital expenditures the Company expects to incur for our China Operations in Fiscal 2027.
Fiscal 2027 Guidance | ||||||
Ying Mining District | GC Mine | Kuanping | Total | |||
Capitalized Expenditures | Ramp and Development Tunneling | (Metres) | 53,200 | 4,500 | 7,600 | 65,300 |
($ Million) | 37.2 | 2.7 | 3.9 | 43.8 | ||
Exploration Tunneling | (Metres) | 90,200 | 14,200 | 4,400 | 108,800 | |
($ Million) | 35.3 | 5.9 | 1.4 | 42.6 | ||
Diamond Drilling | (Metres) | 91,100 | 34,300 | 5,300 | 130,700 | |
($ Million) | 2.8 | 0.8 | 0.2 | 3.8 | ||
Facilities and Equipment | ($ Million) | 26.1 | 0.7 | 1.3 | 28.1 | |
No. 3 Mill | ($ Million) | 22.7 | — | — | 22.7 | |
Total | ($ Million) | 124.1 | 10.1 | 6.8 | 141.0 | |
1. Ying Mining District
The total capital expenditures at the Ying Mining District in Fiscal 2027 is estimated at
$37.2 million $35.3 million $2.8 million $26.1 million $6.8 million $7.6 million $4.5 million $5.6 million $22.7 million $31.6 million
The No. 3 Mill is under design and construction, and intended to meet the increasing demand on ore processing at the Ying Mining District where annual mine throughput is expected to reach 1.6 million tonnes per year by fiscal year 2029. The No. 1 Mill will be decommissioned, leaving Ying with a net effective 6,300 tonnes per day of milling capacity.
The following table summarizes the estimated budget and construction schedules for the new Mill:
Category | Description | Target Completion Schedule | Estimated Expenditures | ||
(in millions of US$) | |||||
Fiscal 2027 | Beyond Fiscal 2027 | Total | |||
Design & Permitting | Land Lease & Rezoning | Apr-26 | 0.6 | - | 0.6 |
Design & Engineering | May-26 | 0.2 | - | 0.2 | |
Environmental & Safety Assessment | Jul-26 | 0.1 | - | 0.1 | |
Construction & Equipment | Site Preparation | Apr-26 | 0.8 | 0.3 | 1.1 |
Road Construction | Jun-27 | 0.4 | 0.2 | 0.5 | |
Mill Construction | Mar-27 | 6.5 | 2.8 | 9.2 | |
Equipment Acquisition | Nov-26 | 10.8 | 0.6 | 11.4 | |
Installation | Mar-27 | 1.0 | 2.7 | 3.7 | |
Contingency | Apr-27 | 2.4 | 2.4 | 4.7 | |
Total Expenditures | 22.7 | 8.9 | 31.6 | ||
- Development tunneling, equipment replacement and facilities upgrades, other than the new mill, have been included in AISC.
2. GC Mine
The total capital expenditures at the GC Mine in Fiscal 2027 is estimated at
$2.7 million $5.9 million $0.8 million $0.7 million - Development tunneling, equipment replacement and facilities upgrade have been included in AISC.
3. Kuanping Project
Underground mine construction continues as preparations for production move forward, with a total investment of
Fiscal 2027 capital expenditure guidance for Ecuador Operations
1. El Domo Project
The table below summarizes the costs to construct the El Domo Project:
Fiscal 2027 | ||
($ Million) | ||
1 | Package #1 - Site preparation/Roads/Channels/TSF/SWD | $ 27.7 |
2 | Package #2 - Open Pit Mining and Stripping | 23.1 |
3 | Package #3 - Processing Plant Construction and Equipment | 36.1 |
4 | Temporary and Permanent Camps | 3.0 |
5 | Packages #4, 5 -Site Infrastructure (bypass roads, power line, standby diesel generators, water treatment plant) | 23.8 |
Direct costs sub-total | $ 113.7 | |
6 | Owner's Contingency | 11.5 |
7 | Owner's Cost | 12.8 |
8 | Value added tax (VAT) | 21.8 |
Total | $ 159.8 |
The total budget for the El Domo project remains unchanged at
Package #1 - Site Preparation/Roads/Channel/TSF/SWD
Package #1 earthworks and related activities have been conducted by CRCC 14 since January 2025, with the capital costs estimated based on the unit prices as indicated in the contract multiplied by the design quantities of each activity.
Package #2 – Open Pit Mining and Stripping
The mining contract for the construction and operation of Package #2 was awarded to China Railway 19th Bureau Group Co., Ltd. ("CRCC19") with the cost estimated based on the optimized mine plan and contracted unit rates of drilling, blasting, and hauling etc received from CRCC19. The Company expects to commence stripping of the open pit in April 2026 and a total of 4.1 million cubic metres of sediments and waste rocks will be stripped.
Package #3 - Processing Plant Construction and Equipment
The detailed process flowsheet and equipment selection for the processing plant construction and equipment have been finalized by Yantai Jinpeng Mining Machinery Co., Ltd, with the cost estimated based on the engineering design, actual contract and purchase prices for major equipment from international vendors, market prices for minor equipment in
Power line construction and Stand-by Diesel Power Generators
The construction of the power line is expected to be initiated in June 2026 and should take approximately 12 months to be completed. The 14MW diesel generator sets will be delivered to site by December 2026 for installation and operation before the completion of the process plant. This mitigation plan will ensure that power is available for commissioning of the process plant in July 2027, regardless of the status of the external power line.
2. Condor Project
In Fiscal 2027, the Company plans first to obtain the environmental permit for small-scale mining, which will then allow the development of two 1,500 metre long underground tunnels totalling 3,000 metres that will provide access to the main ore bodies and to carry out underground drilling to upgrade mineral resource categories into measured and indicated. Based on these results, a Pre-Feasibility or Feasibility Study Report can be completed for a 5,000 t/d underground mine, processing plant and related tailings storage facility per the PEA dated December 22, 2025. The company will also pool with two other property owners that have "small-scale mining permits" and the local community to build a 1,000 tonne per day mill, TSF starter dam, and associated infrastructure. The total capital expenditures at the Condor Project are estimated at
Fiscal 2027 capital expenditure guidance for Kyrgyzstan Operations
The Company is preparing a separate press release with guidance for its Kyrgyzstan Operations.
Qualified Person
Guoliang Ma, P. Geo., Manager of Exploration and Resource of the Company, is the Qualified Person for Silvercorp for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed and approved 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 cash flow 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
CAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTS
This news release includes "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 securities laws relating to, among other things statements regarding the timing of release the Company's Fiscal 2026 audited financial results; guidance for Fiscal 2027 production, cash and AISC; capital expenditures for China Operations in Fiscal 2027; construction of the No. 3 Mill and annual mine throughput at the Ying Mining District; timing of updated NI 43-101 technical reports; total budget for the El Domo project; construction and capital expenditures for the El Domo and Kuanping mines; permitting, development, completion of pre-feasibility study, and capital expenditures for Condor Project; and timing of guidance for the Company's Kyrgyzstan Operations. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking information may in some cases be identified by words such as "will", "anticipates", "expects", "intends" and similar expressions suggesting future events or future performance.
We caution that all forward-looking information is inherently subject to change and uncertainty and that actual results may differ materially from those expressed or implied by the forward-looking information. A number of risks, uncertainties and other factors, including fluctuating commodity prices; recent market events and condition; estimation of mineral resources, mineral reserves and mineralization and metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; climate change; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into existing operations; permits and licences for mining and exploration in
A comprehensive discussion of other risks that impact Silvercorp can also be found in its public reports and filings which are available under its profile at www.sedarplus.ca.
i Silver equivalent is calculated by converting the gold metal quantity to its silver equivalent using the ratio between the net realized selling prices of gold and silver achieved, and then adding the converted amount expressed in silver ounces to the ounces of silver. |
ii Cash cost and all-in sustaining cost per tonne are non-GAAP measures. Cash cost per tonne is calculated based on the total cash cost on a sales basis, adjusted for changes in inventory, to arrive at total cash cost that is related to ore production during the period. The total cash cost is then further divided into mining cost, shipping cost, and milling cost. Cash cost per tonne is the total of per tonne mining cost, per tonne shipping cost, and per tonne milling cost. All-in sustaining cash cost per tonne is the extension of the cash cost per tonne. All-in sustaining cost per tonne is based on the Company's cash cost, and further include general and administrative expenses, government fees and other taxes, reclamation costs accretion, lease liability payments, and sustaining capital expenditures that are already paid. Mineral resources tax, which mainly is levied based on revenue, are not included in the calculation of all-in sustaining cost. |
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SOURCE Silvercorp Metals Inc.