Silvercorp Metal Stock Price, News & Analysis

Silvercorp Metals (SVM) announced significant high-grade intercepts from its 2021 exploration program at the LMW mine in Henan, China. The ongoing drilling efforts have involved 116 holes over 22,890 m, revealing multiple zones with rich silver-lead mineralization. Notable results include drill hole ZKX0575 showing 261 g/t Ag over 20.75 m, and ZKX0429 with 1,103 g/t Ag over 1.51 m. The successful exploration is expected to enhance the resource base significantly at the LMW mine.

Silvercorp Metals Inc. (SVM) announced strong financial results for Fiscal 2021, reporting a revenue of $192.1 million, a 21% increase from the previous year. Net income rose 35% to $46.4 million, or $0.27 per share. The company mined 964,925 tonnes of ore, with silver production slightly up at 6.3 million ounces. For Q4 alone, revenue surged 89% year-over-year to $35.7 million, and net income reached $7.0 million. Silvercorp also reported significant cash reserves of $199.1 million, up 40% from the prior year.

Silvercorp Metals Inc. (SVM) has been granted three exploration permits covering 48.8 square kilometers in the Ying Mining District, allowing depth extensions beyond existing mining permits. Past drilling in the area revealed significant mineralization, including intervals of 263 g/t gold and 335 g/t silver. Additionally, the company has temporarily extended contracts with mining contractors for two months to renew mining operations, which may face delays if agreements are not reached. Silvercorp is committed to profitable operations and sustainable development.

Silvercorp Metals reported strong production figures for Fiscal 2021, producing approximately 6.3 million ounces of silver and 68.4 million pounds of lead, aligning with guidance. Zinc production was notably higher at 28.0 million pounds, exceeding expectations. The Ying Mining District saw production increases across silver, gold, and lead, while the GC Mine also delivered solid results. The company will disclose detailed financial results on May 20, 2021.

Silvercorp Metals Inc. (SVM) has successfully renewed the Tieluping-Longmen (TLP-LM) Mining License for the TLP, LME, and LMW mines in Henan Province, China, extending it for 20 years until February 26, 2041. This renewal, based on a resource estimation report submitted in 2014, underscores the mines' strong performance over the last decade. The TLP-LM license spans 22.7631 square kilometers, part of a larger 68 square km area. Additionally, a new resource estimation report must be filed within two years. Silvercorp is committed to high safety and environmental standards.

Silvercorp Metals Inc. (SVM) reported Q3 Fiscal 2021 results indicating substantial growth. Revenue increased by 20% to $53.3 million, with net income rising 33% to $8.4 million or $0.05 per share. The company mined 279,445 tonnes of ore, a 6% increase year-over-year, while silver sales saw a 4% decrease to 1.6 million ounces. Cash cost per ounce of silver was negative $2.76, showing improved operational efficiency. The company also acquired interests in Whitehorse Gold Corp. and the La Yesca Silver Project, bolstering its portfolio.

Silvercorp Metals announces its subsidiary, Henan Found Mining Co. Ltd., won an online auction for exploration rights to the Zhonghe Silver Project, located northeast of its Ying Mining District. The acquisition cost approximately US$76 million, with a first payment of US$15.2 million due upon clearance as a non-military area. Notable drill intercepts at Zhonghe include significant silver, lead, and zinc grades. The company plans to initiate drilling in Q1 2021 to advance resource estimates to meet mining license requirements.

Silvercorp Metals reported its Q3 Fiscal 2021 production results, producing approximately 1.7 million ounces of silver, 900 ounces of gold, 17.1 million pounds of lead, and 8.7 million pounds of zinc. Sales figures were 1.6 million ounces of silver, 800 ounces of gold, 16.8 million pounds of lead, and 9.0 million pounds of zinc. For the nine months ended December 31, 2020, total production reached about 5.1 million ounces of silver. The company maintains its annual production guidance of 6.2 – 6.5 million ounces of silver.

Silvercorp Metals Inc. has reported assay results from its 2020 exploration program at the HPG mine, revealing significant gold mineralization. A total of 13,515 meters were drilled, with 69 of 140 holes intercepting mineralization. Noteworthy results include new vein discoveries, with one hole showing a 1.05 m interval grading 6.41 g/t gold. The exploration revealed two phases of mineralization—earlier gold-bearing structures followed by silver-lead-zinc. Further exploration will target overlooked gold-bearing structures. The program included extensive tunneling to enhance mineral resources.