Company
TSE:SVM
Silvercorp Metals Inc is a profitable Canadian mining company producing silver, lead and zinc metals in concentrates from mines in China. The company’s goal is to continuously create healthy returns to shareholders through efficient management, organic growth and the acquisition of profitable projects. Silvercorp balances profitability, social and environmental relationships, employees’ wellbeing, and sustainable development.
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The Vancouver-based firm's figures for 2023 represent increases of 14% to 19% in silver, 85% to 132% in gold, 6% to 11% in lead, and 19% to 29% in zinc, compared to fiscal 2022 production results
The company said it expects the construction of the new mill to be completed by the end of 2023, and Phase 1 of the tailings storage facility by the end of 2024
Revenue, earnings per share and the quarter-end fiscal position of the company were all largely in line with Canaccord’s estimates
For the three months ended December 31, 2021, the company mined 292,072 tonnes of ore and milled 304,772 tonnes, up 5% and 17% compared to the prior-year quarter
The company reported impressive additional high-grade intercepts from its 43,573-metre drilling program across a total of 276 diamond drill holes at the TLP mine
Drill results included 3.2 meters (m) of 2,532 grams per tonne silver and 14.4% zinc from 58.4m depth
For the period ended December 31, 2021, the Canadian mining company increased production to roughly 1.8 million ounces of silver, 1,100 ounces of gold, 19 million pounds of lead, and 8 million pounds of zinc
HPG is one of six mines that make up the Ying project and the company said high-grades were uncovered in the diamond drill program, which ran from June 1 to December 31 last year and saw 153 holes sunk, including 89 underground holes and 64
Silvercorp Metals is a miner focused on silver, lead and zinc in China
It had integrated "ESG factors into its strategic planning, operations, and management, generating impactful change in its communities and creating sustainable economic, social, and environmental value for all stakeholders".
The silver miner said that the project will give the company additional capacity to grow its existing mining operations at Ying after recent drilling programs have uncovered new resources
In the three months to September 30, the company reported revenue of US$58.4 million, up from US$56.3 million in the second quarter a year earlier.
The China-focused metals miner said it was on pace to generate between 6.3 and 6.6 million ounces of silver, 65.7 to 68.9 million pounds of lead and 26.9 to 28.5 million pounds of zinc for fiscal 2022
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
In January, Silvercorp reported a successful bid for the exploration rights of the Zhonghe project, also via online auction, offering RMB 495 million, or around US$76 million
The DCG mine is one of the firm's six mines, which make up its flagship Ying project, where 207 diamond drill holes were sunk between March 2020 and September 30, 2021
In November 2020, Silvercorp said it worked with Henan University of Science and Technology (HAUST) to implement an innovative technology to treat water from its underground mines
The company's flagship Ying project, which comprises six separate mines, for example, has historically produced a substantial amount of waste rock
Proven and probable reserves have increased by 8% compared to the previous technical report released in 2019
A total of 72,878 meters from 704 underground diamond drill holes were completed
