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) announced an updated NI 43-101 Technical Report for the Gaocheng Ag-Zn-Pb Project. As of March 31, 2021, the report indicates a 39% increase in Proven Reserves and an 8% increase in total combined Proven and Probable Reserves despite mining depletion since 2014. The GC Mine now has a projected life of 13 years with average annual production of 310,000 tonnes. Total estimated Mineral Reserves stand at 4.131 million tonnes, containing approximately 12.5 million ounces of silver. This reflects increased exploration success with significant resource enhancements.
Silvercorp Metals Inc. announces a normal course issuer bid to repurchase up to 7,054,000 common shares, equating to 4% of its 176,354,091 shares outstanding as of August 22, 2021. The program runs from August 27, 2021 to August 26, 2022, aiming to enhance flexibility amid potential undervaluation of shares relative to the company's assets, which include $214.4 million in cash and investments valued at $243.2 million as of June 30, 2021. Share purchases will adhere to TSX and NYSE regulations.
Silvercorp Metals (SVM) announced exploration results from its GC silver-lead-zinc mine in Guangdong, China, with extensive drilling revealing high-grade mineralization.
Between October 2019 and June 2021, 72,878 meters of drilling were conducted, identifying 577 mineralized holes and 24 new vein structures. Notable intercepts include hole 20CK24A02 with 258 g/t Ag and 7.05% Pb.
The company plans to update resources and reserves based on these findings, enhancing potential future mining operations.
Silvercorp Metals Inc. (SVM) reported Q1 Fiscal 2022 results, showcasing a 26% revenue increase to $58.8 million, driven by higher metal prices. Despite a 9% decline in ore mined and a decrease in silver, gold, and lead sold, adjusted earnings rose 65% to $15.8 million. The company's net income attributable to shareholders fell 21% to $12.2 million. Operating cash flow improved by 21% to $36.5 million. Cash and equivalents reached $214.4 million, an 8% increase. All-in sustaining costs per ounce of silver rose to $7.46, primarily due to higher production costs.
Silvercorp Metals Inc. (SVM) announced its Q1 Fiscal 2022 production and sales results, reporting 1.5 million ounces of silver, 1,000 ounces of gold, 15.9 million pounds of lead, and 7.2 million pounds of zinc. Silver, gold, and lead sales decreased by 12%, 9%, and 20% respectively, while zinc sales increased by 4% compared to Q1 Fiscal 2021. The decline in production was attributed to mining contract renewal disruptions at the Ying Mining District. Despite these challenges, the company expects to meet its annual guidance of 6.3 - 6.6 million ounces of silver for the fiscal year.
Silvercorp Metals Inc. (TSX: SVM, NYSE American: SVM) announced positive results from its 2021 exploration programs at the SGX mine. Between October 2020 and June 2021, 48,867 meters of drilling were conducted, with 254 holes showing mineralization. High-grade veins were discovered, including significant silver, lead, zinc, and gold grades. The exploration tunneling also yielded promising results, enhancing the mineral resource and exposing significant silver equivalent values. The company expects these discoveries to convert quickly into reserves.
Silvercorp Metals Inc. (SVM) has filed its fiscal 2021 annual report on Form 40-F with the U.S. SEC, detailing the company's audited financial statements and management's analysis. This report is available on the company's website and the SEC's site. Silvercorp, based in Vancouver, BC, is focused on producing silver, lead, and zinc from its operations in China. The company emphasizes profitability and sustainable practices while aiming to deliver healthy returns to shareholders.
Silvercorp Metals announced positive exploration results from its 2021 programs at the LME mine in Henan, China, covering 17,752 meters of drilling across 113 diamond drill holes. The assays reveal high-grade silver-lead-zinc mineralization, with notable findings such as 6,455 g/t silver from vein LM5. Seven drilling rigs are operational, with the potential to quickly convert high-grade blocks into reserves due to existing access tunnels. The exploration indicates silver-lead mineralization extending beyond current resource areas, enhancing growth prospects for Silvercorp.
Silvercorp Metals (SVM) announced results from its 2021 exploration programs at the TLP mine in China. From October 2020 to May 2021, the company completed 34,546 meters of drilling across 196 diamond drill holes, with assay results for 193 holes indicating mineralization in 108. High-grade silver-lead-zinc veins were targeted, with notable intercepts including 3,911 g/t silver, 6.22% lead, and 2.11% zinc. Additionally, 4,526 meters of exploration drift tunneling was completed, exposing substantial mineralization. The ongoing drilling and tunneling efforts aim to enhance the mine's resources.
Silvercorp Metals Inc. (SVM) announced a semi-annual dividend of US$0.0125 per share, payable to shareholders of record by June 4, 2021, with a payment date on or before June 25, 2021. This dividend is regarded as an eligible dividend for Canadian tax purposes. The declaration of future dividends will depend on various factors, including market conditions and financial results. Silvercorp is dedicated to generating returns for shareholders through sustainable practices and profitable growth.