Silvercorp Metals says fiscal 1Q revenues rose 26% year-over-year
A bulk of that uptick was a result of income from mine operations climbing 32% to $25.5 million, a $6 million increase from fiscal 1Q 2021
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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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A bulk of that uptick was a result of income from mine operations climbing 32% to $25.5 million, a $6 million increase from fiscal 1Q 2021
Across its operations, the company mined 231,235 tonnes in the first quarter of the tear ended March 31, 2022, which was down 9% compared to fiscal 1Q 2021
The SGX mine is one of six underground mines at the metal miner's flagship Ying complex
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A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
The LME mine is one of six underground mines at the metal miner's flagship Ying complex in China
In addition to the HPG mine, the polymetallic producer also has several other projects inside the Ying silver-lead-zinc property in the Henan Province
Drilling intersected 1.74 metres true width of 3,911 grams per tonne silver, 6.22% lead, 2.11% zinc and 0.55% copper
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A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Currently, ten drill rigs are turning at LMW and 116 diamond drill holes, including 100 underground holes and 16 surface holes totaling 22,890m, have been completed
The Roth analysts said they believe Silvercorp remains undervalued compared to its peer group and that there is significant upside for the company's equity investments, which could provide external catalysts for the company.
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
It recorded net income attributable to shareholders of US$46.4 million in the fiscal year, compared to US$34.3 million in 2020
The new permits cover 48.8 square kilometers and cover the depth extensions of three mining permits, namely SGX, HPG, and TLP-LME-LMW
The China-focused miner produced around 6.3 million silver ounces and 68.4 million tons of lead in its fiscal 2021
For fiscal 2022 (to March 30,2022) the miner said it expects to process around 960,000 to 1,010,000 tonnes of ore
For the three months to end-December 2020, the group reported net income of US$8.4 million, or US$0.05 per share, compared to US$6.3 million, or US$0.04 a share, in the same period a year earlier
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A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
For silver-focused mineral companies, the excitement surrounding prices puts the metal sharply into focus in a way that has more often been associated with gold
The project covers an area of around 47.7 square kilometers and is located around 100km northwest of the city of Guadalajara
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Yesterday, the group reported it had successfully bid for the exploration rights for the asset via an online auction