Silvercorp Metals Inc (TSE:SVM) (NYSEAMERICAN:SVM) (FRA:S9Y) reported its 4Q and fiscal 2021 production results that were right in line with its guidance.
During fiscal 4Q, the three-month period ended March 31, 2021, Silvercorp nearly doubled its silver output and saw marked increases in its lead and zinc levels compared to the year-ago quarter.
Total production of silver was around 1.2 million ounces compared to 696,000 in 4Q 2020, while lead output came in at 12.2 million points compared to 7.8 million and zinc increased from 3.3 million pounds to 4.7 million in the current quarter.
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All told, Silvercorp sold nearly 1.1 million silver ounces, 10.9 million pounds of lead and 4.6 million pounds of zinc in fiscal 4Q.
The results meant that Vancouver-based Silvercorp either met or exceeded its 2021 production guidance. Throughout its fiscal 2021, the company produced around 6.3 million ounces of silver and 68.4 million pounds of lead, meeting the production guidance of between 6.2 to 6.5 million ounces of silver and 66.1 to 68.5 million pounds of lead.
The company beat its zinc guidance, producing 28 million pounds of zinc – higher than the 24.5 to 26.7 million pounds it had targeted.
Gold production from its Ying mining operation came in at 3,500 ounces.
On a consolidated basis, Silvercorp sold about 6.3 million ounces of silver, 4,700 ounces of gold, 67.1 million pounds of lead, and 27.9 million pounds of zinc, up 0.9%, 42.8%, 2.7%, and 9.9%, respectively, over fiscal 2020.
The company expects to reveal their fiscal 2021 financial results on May 20 after market close.
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