Welcome to our dedicated page for Silvercorp Metal news (Ticker: SVM), a resource for investors and traders seeking the latest updates and insights on Silvercorp Metal stock.
Silvercorp Metals Inc. reports operating, project, and financing developments for a Canadian mining company producing silver, gold, lead, and zinc. Recurring updates cover production and sales volumes, mine operating costs, capital expenditure guidance, and financial results tied to operations such as the Ying Mining District and GC Mine in China.
Company news also covers exploration drilling, construction activity, and technical disclosures for projects including Kuanping, El Domo, Condor, Tulkubash, and Kyzyltash. Additional announcements address NI 43-101 technical reports, mineral resource estimates, ESG ratings, syndicated loan facilities, and portfolio expansion across China, Ecuador, and Kyrgyzstan.
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Silvercorp Metals Inc. reported production and sales results for fiscal year 2023, ending March 31, 2023. The company produced approximately 6.6 million ounces of silver, 4,400 ounces of gold, 68.1 million pounds of lead, and 23.5 million pounds of zinc. Production increased by 8% for silver, 29% for gold, and 6% for lead while zinc production decreased by 12% year-over-year. For fiscal year 2024, Silvercorp anticipates silver production between 6.8 to 7.2 million ounces, gold production of 4,400 to 5,500 ounces, lead production of 70.5 to 73.8 million pounds, and zinc production of 27.7 to 29.7 million pounds, indicating potential increases across all metals except gold, which shows 0% to 25% growth.
Silvercorp Metals Inc. (TSX: SVM, NYSE American: SVM) reported its Q3 Fiscal 2023 results, highlighting a net income of $11.9 million or $0.07 per share, a significant increase from $5.1 million in Q3 Fiscal 2022. Revenue reached $58.7 million, reflecting a 1% decrease year-over-year due to lower selling prices for silver, lead, and zinc. The company produced 1.9 million ounces of silver and 20.1 million pounds of lead, with cash costs per ounce of silver at negative $1.15. For Fiscal 2024, production guidance includes mining 1,100,000 to 1,170,000 tonnes of ore, projecting increases in output for key metals.
Silvercorp Metals Inc. (SVM) has reported its production figures for the third quarter of fiscal 2023, indicating a total silver production of approximately 1.9 million ounces, alongside 1,100 ounces of gold, 20.1 million pounds of lead, and 7.0 million pounds of zinc. Compared to Q3 Fiscal 2022, silver production rose by 1%, gold remained unchanged, lead increased by 6%, while zinc saw a 13% decline. For the first nine months of Fiscal 2023, production figures showed a 10% increase in silver, a 17% rise in gold, and a 9% growth in lead, but a 12% decrease in zinc. The company plans to release complete Q3 financial results on February 9, 2023.
Silvercorp Metals has declared a semi-annual dividend of US$0.0125 per share, payable to shareholders on record by November 25, 2022, with a payment date set for on or before December 16, 2022. The dividends qualify as eligible dividends for Canadian tax purposes. The company has also filed an updated NI 43-101 Technical Report for the Ying Mining District, covering multiple underground mines in Henan Province, China. Future dividend payments will be determined by the Board based on various financial factors.