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. (SVM) maintains this comprehensive news hub for investors tracking its mining operations and market position. Access official press releases and curated updates covering operational milestones, financial results, and strategic developments in precious metals production.
This resource provides timely insights into Silvercorp's core activities, including quarterly earnings, mineral exploration progress, and operational efficiency initiatives. Users will find updates on key projects in China, Mexico, and Ecuador, along with technical compliance achievements and resource expansion efforts.
The page aggregates critical information types: financial disclosures, production updates, exploration results, and corporate governance announcements. All content undergoes verification to ensure alignment with NI 43-101 standards and transparent reporting practices.
Bookmark this page to monitor Silvercorp's progress in maintaining low-cost silver production while expanding its base metals portfolio. Return regularly for updates on drilling programs, cost management strategies, and value-creating initiatives in the global mining sector.
Silvercorp Metals Inc. (TSX/NYSE American: SVM) has initiated construction of the El Domo copper-gold project in Ecuador, aiming for production in 2026. The company has hired Jaymes Dircks as General Manager of Curimining to lead the project. Silvercorp is focusing on several priority areas, including:
- Metallurgical testing to improve metal recoveries
- Advancing power supply and infrastructure
- Completing Detailed Engineering Design
- Selecting suitable vendors for construction and equipment
The company plans to conduct further metallurgical testing, potentially improving project economics by optimizing the flotation process for higher gold and silver recoveries in copper concentrate.
Silvercorp Metals Inc. (TSX: SVM, NYSE American: SVM) has released an updated Technical Report for its Ying Mining District in Henan Province, China. The report, prepared by AMC Mining Consultants, outlines approximately 89 million ounces (Moz) of silver to be mined in a 14-year life of mine (LOM). Significant replenishment of mined metals was noted, with 14.3 Moz of silver, 13.3 thousand ounces of gold, 64 thousand tonnes of lead, and 8.7 thousand tonnes of zinc produced between January 2022 and June 2024.
Annual production through FY2031 is projected to be 7.1-8.7 Moz of silver and 3.1-13.0 thousand ounces of gold. The total LOM production is estimated at 86.3 Moz of silver, 63.0 thousand ounces of gold, 395 thousand tonnes of lead, and 75.7 thousand tonnes of zinc. The report also highlights an 18% increase in Measured and Indicated Mineral Resource tonnes compared to the 2022 report, but with a decrease of up to 37% in contained metals for certain categories.
The production rate is planned to increase to 1.0 million tonnes per year (Mtpa) in FY2025 and 1.2 Mtpa in subsequent years. Pre-tax and post-tax NPVs are projected at $896M and $699M, respectively.
Silvercorp Metals (NYSE: SVM) reported Q1 Fiscal 2025 financial and operational results, highlighting an adjusted net income of $20.6 million or $0.12 per share, and operating cash flow of $40.0 million.
Key metrics include:
- Total revenue of $72.2 million, up 20% YoY
- Net income of $21.9 million, up 138% YoY
- Mined 343,847 tonnes of ore and milled 307,696 tonnes
- Produced 1.7 million ounces of silver and 1,146 ounces of gold
- Strong balance sheet with $215.7 million in cash and investments
The company faced decreases in gold, silver, lead, and zinc production due to lower head grades and unprocessed stockpiled ore, which is expected to be processed by Q3 FY2025.
Major investments included $1.0 million on exploration, $13.9 million on underground development, and $4.6 million on equipment. The acquisition of Adventus Mining, completed in July 2024, is set to diversify operations with the El Domo and Condor Projects in Ecuador.
Silvercorp Metals and Salazar Resources have announced that the El Domo-Curipamba Project in Ecuador has received the Resolution of Change of Phase from the Ministry of Energy and Mines. This approval advances the project from the Economic Evaluation Phase to the Exploitation Phase, allowing for the start of construction and subsequent mine operation. This resolution is equivalent to the Exploitation Agreement for large-scale mines in Ecuador.
Dr. Rui Feng, Chairman and CEO of Silvercorp, stated that this is the final major approval required for full stage construction to begin. Fredy E. Salazar, President and CEO of Salazar, expressed gratitude to the team for achieving this milestone and anticipates El Domo becoming the next major industrial mine in Ecuador.
Silvercorp Metals Inc. (TSX/NYSE American: SVM) has completed its acquisition of Adventus Mining (TSXV: ADZN, OTCQX: ADVZF) through a statutory plan of arrangement. Under the terms, former Adventus shareholders receive 0.1015 Silvercorp shares for each Adventus share. Adventus stock options and warrants are now exercisable for Silvercorp shares, adjusted according to the exchange ratio. Adventus restricted share units have been settled in cash.
Adventus intends to delist from the TSX Venture Exchange and cease being a reporting issuer. Adventus' President, CEO, CFO, and Corporate Secretary will stay on as consultants during the transition period. This acquisition marks a significant expansion for Silvercorp in the mining sector.
Silvercorp Metals Inc. (TSX/NYSE AMERICAN: SVM) has announced it will proceed to close the acquisition of Adventus Mining on July 31, 2024. This decision comes after a positive development in a litigation that had previously been considered a Material Adverse Effect. On July 24, 2024, a local court in Ecuador rejected the litigation that sought to void the environmental license of the Curipamba-El Domo project.
The court ruled that the Ecuadorean government correctly discharged its environmental consultation obligations. Although the plaintiffs have given notice of their intention to appeal, Silvercorp believes that all conditions to closing are now satisfied. This acquisition, originally announced on April 26, 2024, will involve Silvercorp acquiring all issued and outstanding common shares of Adventus through a plan of arrangement.
Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) reported Q1 Fiscal 2025 operational results, highlighting record revenue of approximately $72.0 million, a 20% increase year-over-year. Ore mined increased by 13% to 341,927 tonnes, while ore milled rose 4% to 307,696 tonnes. However, silver production decreased by 4% to 1.7 million ounces due to 59,293 tonnes of inventory stockpile not yet processed. Lead and zinc production also declined by 12% and 6% respectively. The Ying Mining District saw a 20% increase in ore mined, while the GC Mine experienced slight decreases in production. The company expects to process stockpiled ore in Q3 and Q4 once mill capacity expansion is completed.
Altius Minerals (ATUSF) has provided an update on its Project Generation business activities and public junior equities portfolio for Q2 2024. The market value of equities in the portfolio increased to $55.8 million from $45.4 million in Q1 2024. The company generated $7.6 million in cash proceeds from portfolio sales and invested $2.9 million through warrant exercises, leading to net proceeds of $11.4 million in 2024. Key portfolio updates include:
1. Orogen Royalties Inc. reported positive cashflows and advancements at the Expanded Silicon gold project.
2. Adventus Mining Corp. announced a definitive arrangement agreement with Silvercorp Metals Inc. Altius received C$9.6 million from Adventus.
3. Canterra Minerals Corp. advanced its base metal and gold projects in Newfoundland.
4. Sterling Metals Inc. exercised its option to acquire 100% of the Adeline Copper-Silver Project.
5. Gungnir Resources Inc. provided an update on its exploration activities in Sweden.
6. Strikepoint Gold Inc. reported positive drilling results from the Cuprite gold project.
Silvercorp Metals has provided an update on its proposed acquisition of Adventus Mining. The acquisition, initially announced on April 26, 2024, involves Silvercorp purchasing all outstanding shares of Adventus. However, a Material Adverse Effect has arisen due to litigation seeking to void the environmental license of Adventus's Curipamba-El Domo project. Silvercorp has analyzed the litigation and concluded it constitutes a Material Adverse Effect. The company will continue to evaluate the situation and is open to extending the July 31 deadline for closing the acquisition.
On May 27, 2024, Silvercorp Metals (TSX/NYSE American: SVM) announced a semi-annual dividend of US$0.0125 per share. Shareholders of record by June 7, 2024, will receive the dividend by June 27, 2024. The dividends qualify as eligible for Canadian tax purposes. Future dividends will depend on market conditions, financial performance, cash requirements, and other relevant factors, as decided by the Board of Directors.
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