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.
Silvercorp Metals Inc. (SVM) has declared a semi-annual dividend of US$0.0125 per share, payable to shareholders of record by June 6, 2022. The dividend payment date is set for on or before June 24, 2022. The dividends qualify as eligible dividends for Canadian tax purposes. Future dividends will be determined by the Board, considering factors like commodity prices, market conditions, and cash flow. Silvercorp is engaged in silver, gold, lead, and zinc mining, focusing on creating shareholder value through profitable operations and responsible mining practices.
Silvercorp Metals (SVM) reported its Q4 and fiscal 2022 results, showing a 13% increase in revenue to $217.9 million, driven by higher metal prices. However, net income fell by 34% to $30.6 million or $0.17 per share, down from $46.4 million in fiscal 2021. Operational highlights include the sale of 6.3 million ounces of silver and cash flow from operations rising 25% to $107.4 million. Despite increased mining and production costs, the cash cost per ounce of silver was negative $1.29. The company ended with $212.9 million in cash and equivalents, up 7%.
Silvercorp Metals Inc. (TSX: SVM, NYSE American: SVM) reported production results for Fiscal 2022, highlighting a total output of approximately 6.1 million ounces of silver, 3,400 ounces of gold, 64.4 million pounds of lead, and 26.8 million pounds of zinc. This fell short of the expected silver guidance of 6.3 to 6.6 million ounces. The company maintained its Fiscal 2023 guidance with anticipated production increases of up to 19% in silver and 132% in gold compared to Fiscal 2022.
Silvercorp Metals Inc. (SVM) has announced significant updates on its new 3,000 tonne per day flotation mill and tailings storage facility in Henan Province, China. Key progress includes land lease agreements for 123.46 hectares and completion of environmental and safety assessments. The estimated budget stands at US$29.8 million for the mill and US$38 million for the storage facility, with completion expected by late 2023 and late 2024, respectively. The new mill aims to enhance operational capacity while facilitating growth and resource consolidation.
Silvercorp Metals reported Q3 Fiscal 2022 results, showcasing a revenue increase of 11% to $59.1 million. Despite increased ore production of 5% and sales of gold rising by 38%, net income dropped 40% to $5.1 million, primarily due to an $8.5 million mark-to-market charge. Adjusted earnings remained stable at $0.08 per share. The company maintains a strong cash position of $211.6 million. For Fiscal 2023, production guidance has been raised, indicating 9-21% growth across metals. Significant drilling efforts in prior years support this optimistic outlook.
Silvercorp Metals (TSX: SVM, NYSE American: SVM) announced high-grade intercepts from its 2021 exploration program at the TLP mine in Henan Province, China. They completed 43,573 meters of drilling with 202 holes intercepting mineralization. Significant results include a 1.36 m interval grading 2,042 g/t silver and intersections with high-grade gold. The drilling strategy focused on previously mined areas for missed veins and assessing high-grade silver-lead-zinc veins. Ongoing tunneling aims to upgrade resources and expand mine planning.
Silvercorp Metals has reported significant high-grade intercepts from its ongoing exploration at the SGX mine in Henan Province, China. During the second half of 2021, 52,634 meters were drilled across 327 holes, with 102 showing mineralization. Notable intercepts include 2,532 g/t silver and various lead, zinc, gold, and copper grades. The ongoing drilling strategy focuses on previously mined areas and new gold-silver veins. The company's No. 1 mill has been upgraded to enhance ore recovery, positioning Silvercorp for positive resource growth.
Silvercorp Metals reported its Q3 Fiscal 2022 production results, showing a substantial increase in output compared to the previous quarter. The company mined approximately 292,072 tonnes of ore, yielding around 1.8 million ounces of silver, 1,100 ounces of gold, 19 million pounds of lead, and 8 million pounds of zinc. These figures represent increases of 8% in silver, 38% in gold, 8% in lead, and 7% in zinc from Q2. However, Covid-19 restrictions may disrupt fourth-quarter production.
Silvercorp Metals Inc. (TSX: SVM) announced high-grade mineral intercepts from its 2021 exploration program at the HPG mine in Henan, China. From June to December 2021, 24,369 meters were drilled, with 134 assay results revealing significant gold-silver-lead-zinc mineralization. Key findings include underground hole ZK2542 showing 24.66 g/t gold and 1,469 g/t silver. The drilling strategy focuses on previously mined areas and testing higher elevations, while tunneling programs aim to enhance mineral resource definition.
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