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 firm said that the results extended the major mineralized vein structures along strike and downdip, and exploration tunnelling exposed high grade mineralized zones within major production vein structures.
From April 1, 2018 to June 30, Silvercorp continued its extensive exploration programs and completed 21,272 metres of underground diamond drilling and 3,274m of exploration tunneling at the LMW mine
Silvercorp is a "top defensive idea" according to ROTH, which upped estimates for the firm on higher gold and silver price forecasts for 2019 and 2020
The report highlights a mineral resource of 9.1 million tonnes in the measured and indicated categories, containing approximately 24.5 million ounces of silver
The quarter saw the group produce 1.9 million ounces of silver, 1,000 ounces of gold, 7.3 million pounds of zinc, and 17.8 million pounds of lead
Silvercorp mined 257,392 tonnes of ore in 1Q, a rise of 9%, mainly due to an increase of ore from its Ying Mining District
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Roth also repeated a 'Buy' rating on the stock following latest results from the first eight holes from this year's drill program
The first eight holes intercepted "significant silver mineralization similar to those reported from the 2018 drilling program," noted the firm in a release
Roth Capital Partners maintained a Buy rating with a $4.25 price target, noting it believes the company continues to be "significantly undervalued by the market"
The Vancouver-based firm's flagship mine is the Ying project, also known as the SGX silver-lead-zinc property, which comprises six separate mines
The updated technical report highlights a mineral resource of 4.3 million tons grading 3.1 grams per ton in the Measured and Indicated categories, containing nearly 418,000 ounces of gold
Silvercorp is the primary silver producer in China, with six silver-lead-zinc mines in the Ying mine district in Henan province, as well the silver-lead-zinc Gaocheng project in Guangdong, China
Goldmoney and other precious metal companies rallied amidst economic uncertainty
The low-cost silver-producing miner says there are significant strike extension of major production veins defined by its on-going drilling program at HPG.
