202631 releases
Silvercorp Reports Operational Results and Financial Results Release Date for the Second Quarter, Fiscal 2027
Q2 Fiscal 2027 (ended September 30, 2026) production at the Ying Mining District totalled 213,320 tonnes of ore processed for 0.9 million ounces of silver, 1,371 ounces of gold, 7.6 million pounds of lead and 0.7 million pounds of zinc, down 41%, 34%, 41% and 51% year over year, with revenue of $72.1 million, down 13%, on realized prices of $61.83 per ounce silver and $3,955 per ounce gold. The GC Mine remains suspended pending an updated mine development design, with production resumption targeted for November 2027. Unaudited interim financial results are due November 5, 2026 after market close.
CorporateSilvercorp Reports 2026 Annual General and Special Meeting Results
All matters put to shareholders at Silvercorp's annual general and special meeting held October 2, 2026 were approved, with 123,182,474 common shares, or 55.69% of votes attached to outstanding shares as at the record date, represented. Directors Rui Feng, Paul Simpson, Yikang Liu, Marina Katusa, Ken Robertson and Helen Cai were elected, and Deloitte LLP was re-appointed as auditor. A special resolution amending the Articles to align with Hong Kong Stock Exchange listing rules passed with 95.74% in favour, and amendments to the share-based compensation plan passed with 84.51%.
CorporateSilvercorp Announces Further Amendments to Meeting Proposal
A further variation to the special resolution on proposed amendments to Silvercorp's Articles will be considered at the annual general and special meeting on October 2, 2026 at 10:00 a.m. Pacific time, with the proxy voting deadline extended to September 30, 2026 at 4:00 p.m. Pacific time. Article 16 will be amended to remove the Company's ability to request information on a proposed director nominee beyond that enumerated in Article 16, paragraph 4. Previously submitted proxies remain valid, and Laurel Hill Advisory Group, retained as proxy solicitation agent, will receive a $30,000 fee.
CorporateSilvercorp Announces Amendments to Meeting Proposal and Postponement of Annual General and Special Meeting
Silvercorp's annual general and special meeting has been postponed from September 25, 2026 to October 2, 2026 at 10:00 a.m. Pacific time, with the proxy voting deadline extended to September 30, 2026 at 10:00 a.m. Pacific time. The Board approved a variation to the special resolution on amending the Company's Articles, adding governance changes including raising the shareholder meeting quorum from 5% to 25%, setting director quorum at least one-half of directors in office, deleting Article 15 on alternate directors, and revising advance notice provisions. Existing proxies remain valid.
CorporateSilvercorp Renews Share Repurchase Program
A normal course issuer bid commencing September 21, 2026 will allow Silvercorp Metals to buy back up to 8,848,585 common shares, about 4% of the 221,214,642 shares outstanding as of September 8, 2026, with the program expiring September 20, 2027. Daily TSX purchases are capped at 261,176 shares, 25% of the six-month average daily volume of 1,044,706, and all repurchased shares will be cancelled. No shares were purchased under the prior 2025 NCIB.
CorporateSilvercorp Publishes Fiscal 2026 Sustainability Report
Silvercorp Metals has published its Sustainability Report for the year ended March 31, 2026, covering ESG commitments, performance and targets. Reported highlights include a 46% reduction in freshwater withdrawal intensity from the 2020 baseline, $3.7 million invested in environmental protection (up 64% over Fiscal 2025), zero significant environmental incidents, more than 25,000 hours of production safety training, $3.2 million in community initiatives and a 72% local employment rate. Two new policies were added on waste and emissions management and information security.
CorporateSilvercorp Announces Main Zone Drill Results, Including 1.68 g/t Gold over 212.5 Metres, at the Kyzyltash Sulfide Gold Project, Kyrgyzstan
Drill results from 29 diamond holes at the Main Zone of the Kyzyltash Sulfide Gold Project in Jalal-Abad Oblast, western Kyrgyzstan, covering 3,640 m of strike from Line 1480 to Line 5120, included 212.5 m at 1.68 g/t gold from 34.5 m in hole DH26M687, 39.0 m at 4.79 g/t (including 6.0 m at 22.23 g/t) in DH26M686, and 47.0 m at 3.95 g/t in DH26M818. Contact Zone assays are pending, with six rigs drilling there; since July drilling shifted mainly to in-fill for a pre-feasibility study.
Drill resultsSilvercorp Reports Adjusted Net Income Of $53.9 Million, $0.24 Per Share And Cash Flow from Operating Activities Of $61.7 Million For Q1 Fiscal 2027
Q1 Fiscal 2027 results (three months ended June 30, 2026) included revenue of $138.7 million, up 70% year over year on a 135% higher average realized silver price of $69.38 per ounce, net income attributable to shareholders of $59.4 million ($0.27 per share), adjusted earnings of $53.9 million ($0.24 per share) and operating cash flow of $61.7 million. Production was about 1.7 million silver equivalent ounces; AISC was $18.38 per ounce of silver net of by-product credits. Chinese operations were voluntarily suspended from mid-June for safety-system upgrades budgeted at about $11.5 million, with Q2 production expected to be reduced 40% to 50%.
CorporateSilvercorp Reports Operational Results and Financial Results Release Date for the First Quarter, Fiscal 2027
Q1 Fiscal 2027 revenue of $138.7 million, up 70% over Q1 Fiscal 2026, with silver production of 1.5 million ounces (down 17%), gold of 2,536 ounces (up 24%), silver equivalent of 1.7 million ounces (down 15%), lead of 13.4 million pounds and zinc of 4.4 million pounds (both down 15%). Operations were voluntarily suspended from mid-June for safety self-reviews and "Six Major Safety Systems" upgrades under new Chinese regulations. Unaudited interim results are due August 10, 2026, after market close.
CorporateSilvercorp Provides Updates on China Operations
Operations at the Ying Mining District and GC mine in China were suspended after a self review identified non-compliances with new nationwide mine safety regulations issued following a late May 2026 coal mine accident in Shanxi Province. Five certified vendors have been engaged to complete the Six Major Safety Systems at non-compliant mining levels at a cost of approximately US$5.5 million over about 50 days, with a further $6 million for facility and equipment upgrades. Production is expected to be affected by 10 to 15% in the current quarter, and by 40% to 50% at Ying and about 50% at GC in the July-September quarter.
CorporateSilvercorp Announces Filing of Form 40-F Annual Report and Updated Technical Report
Silvercorp filed its Annual Report on Form 40-F for the fiscal year ended March 31, 2026 with the U.S. Securities and Exchange Commission, including its fiscal 2026 annual information form, audited consolidated financial statements and MD&A, which were also filed with Canadian securities regulators. The company also filed an updated NI 43-101 technical report on the Curipamba-El Domo polymetallic copper-gold project in the provinces of Bolivar and Los Rios, Ecuador, prepared by SRK Consulting China Ltd. with an effective date of December 31, 2025.
CorporateSilvercorp Announces Filing of Updated Technical Reports
An updated NI 43-101 technical report for the Gaocheng silver-lead-zinc mine in Guangdong Province, China has been filed, prepared by SRK Consulting China Ltd with mineral reserves and resources effective December 31, 2025, with no material differences from the June 23, 2026 news release. An amended technical report for the Tulkubash and Kyzyltash Chaarat gold projects in the Republic of Kyrgyzstan was also filed, correcting a typographical error in two Kyzyltash resource tables without changing estimates, conclusions or recommendations; it remains effective October 15, 2025.
Study resultsSilvercorp Reports Updated Mineral Reserves and Resources at the GC Mine
An updated NI 43-101 technical report for the Gaocheng (GC) silver-lead-zinc mine in Guangdong Province, China, prepared by SRK Consulting China with an effective date of December 31, 2025, estimates Measured and Indicated Resources of 18.3 Mt at 65 g/t Ag, 0.91% Pb and 2.24% Zn, and Proven and Probable Reserves of 6.2 Mt at 63 g/t Ag, 0.91% Pb and 2.23% Zn, containing 12.5 Moz Ag. Reserve tonnes rose 25% versus the 2024 report. Post-tax NPV at an 8% discount rate is $101.4 million.
Resource updateSilvercorp Announces the Construction Plan and Schedule for the Development of the Chaarat ZAAV Project
A US$196.3 million budget has been approved by the board of Chaarat ZAAV CJSC for Phase 1 development of Tulkubash and initial work on Phase 2 Kyzyltash in the Tien Shan area of the Kyrgyz Republic, with US$57 million forecast for 2026 and US$139 million for 2027. Tulkubash is designed as a 4 million tonne per year open-pit heap leach operation, with an updated LogiProc feasibility study expected by July 2026. Silvercorp holds 70% and operates; Kyrgyzaltyn holds a 30% free-carried interest.
CorporateSilvercorp Announces Filing of Updated Technical Report for the Ying Mining District
An updated NI 43-101 technical report for the Ying Ag-Pb-Zn-Au property in Henan Province, China has been filed, prepared by AMC Mining Consultants (Canada) Ltd. with a mineral reserve and mineral resource effective date of December 31, 2025. The report follows Silvercorp's June 12, 2026 news release, and there are no material differences between the technical report and the information in that release. It is available on SEDAR+, EDGAR and the company's website.
Study resultsSilvercorp reports a Mineral Reserve increase of 50% in tonnes and 20% in silver ounces for the Ying Mining District
An updated NI 43-101 technical report for the Ying Ag-Pb-Zn-Au property in Henan Province, China, with an effective date of December 31, 2025, estimates Proven and Probable Reserves of 19 million tonnes grading 174 g/t Ag, 0.17 g/t Au, 2.47% Pb, 0.80% Zn and 0.04% Cu, a 50% increase in tonnes and 20% more contained silver versus 2024. Measured and Indicated Resources total 42.18 million tonnes. Pre-tax and post-tax NPVs at 5% are $1,275M and $1,030M over a 17-year mine life.
Resource updateSilvercorp Reports Adjusted Net Income of $151 Million, $0.69 per Share, and Cash Flow from Operating Activities of $310.6 Million for Fiscal 2026
Fiscal 2026 results (year ended March 31, 2026) included record revenue of $438.1 million, up 47%, adjusted net income attributable to shareholders of $150.8 million or $0.69 per share, and cash flow from operating activities of $310.6 million, versus $138.6 million in Fiscal 2025; a net loss of $9.9 million was reported due to a $178.5 million non-cash mark-to-market charge on convertible note derivative liabilities. Production totalled 6.8 million ounces of silver and 8,723 ounces of gold, with AISC of $14.25 per ounce net of by-product credits. Cash, equivalents and short-term investments were $422.3 million.
CorporateSilvercorp Files Listing Application with the Hong Kong Stock Exchange
A listing application has been filed with the Stock Exchange of Hong Kong Limited for a proposed triple primary listing of Silvercorp's common shares on the Main Board, together with a global offering of shares. A redacted draft disclosure document is available on the Hong Kong Stock Exchange website and SEDAR+, and will be submitted on Form 6-K on EDGAR. There is no assurance as to if or when the listing and global offering will take place.
CorporateSilvercorp Declares Semi-Annual Dividend of US$0.0125 Per Share
A semi-annual dividend of US$0.0125 per share was declared by Silvercorp Metals' Board of Directors, payable to shareholders of record at the close of business on June 5, 2026, with payment scheduled on or before June 25, 2026. The dividends are considered eligible dividends for Canadian tax purposes.
CorporateSilvercorp Changes Fiscal 2026 Financial Results Release Date to May 26, 2026
Fiscal 2026 audited financial results will now be released on Tuesday, May 26, 2026, after market close, due to certain scheduling factors. A conference call to discuss the results is scheduled for Friday, May 29, at 9:00 am PDT (12:00 pm EDT), with dial-in numbers for Canada/USA, China and international participants and conference ID 21137. A replay and transcript will be available on Silvercorp's website.
CorporateSilvercorp Announces Extension of Mining License for the Tulkubash/Kyzyltash Gold Projects, Kyrgyzstan
Chaarat ZAAV CJSC has been converted into a joint venture company held 70% by Silvercorp, as operator, and 30% free-carried by Kyrgyzaltyn, a wholly-owned entity of the Kyrgyz Republic. ZAAV holds a 100% interest in the ~7 square kilometre mining license hosting the Tulkubash/Kyzyltash gold projects in the Tien Shan area of Kyrgyzstan, plus 27.42 square kilometres of exploration licenses; the license has been extended from June 25, 2032 to June 25, 2062. Silvercorp paid $60 million cash to the Kyrgyzstan government, with a further $10 million due on milestones. The JVC approved Phase 1 Development of Tulkubash for 2026-2027.
CorporateEarly Warning Report Issued Pursuant to National Instrument 62-103
Beneficial ownership of 15,000,000 Tincorp Metals Inc. (TSXV: TIN) common shares was acquired by Silvercorp under a February 24, 2026 share purchase agreement among Tincorp, Silvercorp and its wholly-owned subsidiary Adventus Mining Corporation, as partial consideration for Tincorp's acquisition of the Santa Barbara Gold-Copper Project in southeastern Ecuador, which closed May 13, 2026. Silvercorp now holds 35,738,699 common shares, about 27.4% of Tincorp's outstanding shares, versus 28.9% previously. An early warning report will be filed on SEDAR+.
CorporateSilvercorp Secures RMB 1.5 Billion (~US$220 Million) Syndicated Term Loan Facilities with 2x Oversubscription, Bolstering Financial Strength for Global Mining Growth
A three-year syndicated term loan facilities agreement totalling RMB1.5 billion in principal (approximately US$220 million) has been signed with a syndicate of international banks, with total bank commitments of RMB2 billion (about US$293 million) against an original RMB1 billion target. Standard Chartered Bank (Hong Kong) Limited acted as sole mandated lead arranger and bookrunner; Facility A of RMB425,500,000 bears CNH HIBOR plus 1.92% per annum and Facility B of RMB1,047,500,000 a fixed 3.67%. Proceeds are for general corporate purposes and global working capital.
FinancingSilvercorp Reports Operational Results and Financial Results Release Date for Fiscal 2026, and Issues Fiscal 2027 Production, Cash Cost, and Capital Expenditure Guidance
Fiscal 2026 revenue reached approximately $438.1 million, up 47% over Fiscal 2025, with 1,475,512 tonnes processed, 6.8 million ounces of silver, 8,723 ounces of gold and 7.5 million ounces of silver equivalent; Q4 revenue was $147.4 million. Fiscal 2027 guidance calls for 1,526,600 to 1,607,000 tonnes processed, 6.8 to 7.1 million ounces of silver, 9,500 to 10,000 ounces of gold, and consolidated cash cost of $83.3 to $85.4 per tonne. Audited Fiscal 2026 results are due May 25, 2026.
CorporateSilvercorp Announces Filing of MRE for the Tulkubash/Kyzyltash Gold Projects, Kyrgyzstan
An updated NI 43-101 Mineral Resource Estimate technical report has been filed for the Tulkubash and Kyzyltash Chaarat Gold Projects in the Republic of Kyrgyzstan, with an effective date of October 15, 2025. The report was prepared by Silvercorp's Technical Services department, including Lei Xue and Dr. Donovan Pienaar, under the supervision of qualified persons Guoliang Ma and Alex Zhang, and is available on the company's website, SEDAR+ and EDGAR.
Resource updateSilvercorp Reports Adjusted Net Income Of $47.9 Million, $0.22 Per Share, And Cash Flow from Operating Activities Of $132.9 Million For Q3 Fiscal 2026
Q3 Fiscal 2026 results (three months ended December 31, 2025) show revenue of $126.1 million, up 51% year over year, adjusted net income attributable to shareholders of $47.9 million or $0.22 per share, and cash flow from operating activities of $132.9 million, including a $43.9 million draw-down from Wheaton Precious Metals. A net loss of $15.8 million, or $0.07 per share, was recorded mainly on a $60.2 million non-cash mark-to-market charge on convertible notes. Production totalled about 2.0 million ounces of silver equivalent, with AISC of $12.86 per ounce of silver net of by-product credits and cash and short-term investments of $462.8 million.
CorporateSilvercorp Announces Project Update for El Domo
The construction budget for the El Domo project in Ecuador has been raised to $284 million, up $44 million from the $240 million estimate dated March 31, 2025, with production now scheduled for July 1, 2027, a six-month delay from early 2027. Changes include a VAT rate revision from 10% to 15% ($16 million), $15 million more for process plant equipment, and contingency cut from 20% to 8%. A fixed unit rate mining contract with CRCC 19 is expected, valued at $35 million for construction, about $63 million over five operating years, plus $8 million for TSF dam raises. Silvercorp spent $44.5 million in 2025 and new flotation tests showed copper recovery up 5.4% and gold recovery up 6.2%.
CorporateSilvercorp Announces Filing of PEA for Condor Gold Project in Ecuador
A Preliminary Economic Assessment for the Condor gold project in Zamora Chinchipe Province, Ecuador has been filed, titled "Independent Technical Report for the Condor Gold Project, Zamora Chinchipe Province, Ecuador," with an effective date of November 30, 2025. The report was prepared by SRK Consulting (Canada) Inc. in accordance with NI 43-101 and is available on the company's website, SEDAR+ and EDGAR.
Study resultsSilvercorp Completes Acquisition of the Tulkubash/Kyzyltash Gold Projects, Kyrgyzstan
The acquisition of Chaarat ZAAV CJSC from Chaarat Gold Holdings has closed, with Silvercorp paying $92 million after the Kyrgyz government waived its statutory pre-emptive right. ZAAV holds a 100% interest in the mining license covering the fully-permitted Tulkubash/Kyzyltash gold projects and surrounding exploration licenses hosting the Karator and Ishakuld gold zones in the Tian Shan area. ZAAV will be converted into a joint venture 70% owned and operated by Silvercorp, with Kyrgyzaltyn holding a 30% free-carried interest. The JVC will seek a mining license extension from June 25, 2032 to June 25, 2062, after which Silvercorp will pay $60 million to the National Investment Agency.
AcquisitionSilvercorp Acquires 70% Interest in the Tulkubash/Kyzyltash Gold Projects, Kyrgyzstan
A 70% interest in Chaarat ZAAV CJSC, holder of the fully-permitted Tulkubash/Kyzyltash gold projects and surrounding exploration licenses in the Tian Shan area of the Kyrgyz Republic, will be acquired for US$162 million cash, with $92 million to Chaarat Gold Holdings and $70 million to the National Investment Agency in two payments; Kyrgyzaltyn will hold a 30% free-carried interest and Silvercorp will operate. The Kyrgyz Government has issued the pre-emptive right waiver, allowing the Chaarat payment to proceed.
AcquisitionSilvercorp Reports Operational Results and Financial Results Release Date for the Third Quarter, Fiscal 2026
Record quarterly revenue of approximately $126.1 million for the third quarter ended December 31, 2025, up 51% year over year, with silver production of 1.9 million ounces (down 4%), lead of 16.4 million pounds (down 4%) and zinc of 7.0 million pounds (up 5%). The Ying Mining District processed 328,425 tonnes and the GC Mine 87,095 tonnes, with 89,208 metres of drilling completed. Unaudited Q3 Fiscal 2026 financial results are scheduled for February 9, 2026, after market close.
Corporate
202523 releases
Silvercorp Delivers Robust PEA for Condor Gold Project in Ecuador
A preliminary economic assessment for the Condor gold project in Ecuador outlines an after-tax NPV (5%) of $522 million and a 29% IRR at $2,600/oz gold, $31.00/oz silver, $1.27/lb zinc and $0.91/lb lead, rising to $1,559 million and 61% at near-spot prices of $4,300/oz gold and $60.00/oz silver. The 13-year underground operation at 5,000 tonnes per day would produce 1,375 koz payable gold, 5,266 koz silver, 95,656 klbs zinc and 8,448 klbs lead, with $292 million initial capital, three-year payback and LOM AISC of $1,258/oz. The technical report will be filed within 45 days.
Study resultsSilvercorp Announces CFO Transition
Derek Liu retired as Chief Financial Officer effective November 10 after serving in the role since 2015, and will assist Silvercorp in a consulting capacity during a transition period. Winnie Wang, previously CFO of the Company's China Operations and with Silvercorp since 2024, was appointed Interim Chief Financial Officer effective immediately. Lei Wu, formerly Finance Controller at New Gold's Rainy River Mine from 2021 to 2025, was appointed Corporate Controller.
ManagementSilvercorp Declares Semi-Annual Dividend of US$0.0125 Per Share
A semi-annual dividend of US$0.0125 per share was declared by Silvercorp's Board of Directors, payable to shareholders of record at the close of business on November 28, 2025, with payment scheduled on or before December 12, 2025. The dividends are considered eligible dividends for Canadian tax purposes.
CorporateSilvercorp Reports Adjusted Net Income Of $22.6 Million, $0.10 Per Share, And Cash Flow from Operating Activities Of $39.2 Million For Q2 Fiscal 2026
Q2 fiscal 2026 (three months ended September 30, 2025) revenue was $83.3 million, up 23% from Q2 fiscal 2025, with income from mine operations of $40.9 million, a net loss attributable to shareholders of $11.5 million ($0.05 per share) on a $53.2 million non-cash convertible note mark-to-market charge, adjusted net income of $22.6 million ($0.10 per share), operating cash flow of $39.2 million and free cash flow of $11.4 million. Production totalled about 1.66 million ounces silver, 2,085 ounces gold, 14.23 million pounds lead and 5.64 million pounds zinc, at AISC of $13.94 per ounce of silver net of by-products.
CorporateSilvercorp Reports Operational Results and Financial Results Release Date for the Second Quarter, Fiscal 2026
Revenue of approximately $83.3 million in the second quarter ended September 30, 2025, up 23% year over year, with silver production of 1.7 million ounces, silver equivalent of 1.84 million ounces, lead of 14.2 million pounds and zinc of 5.6 million pounds. Exploration at the Ying Mining District and GC Mine totalled 77,507 metres of drilling and 14,437 metres of tunneling; El Domo construction removed 1.29 million cubic metres. Unaudited interim financial results are expected November 6, 2025, after market close.
CorporateSilvercorp Reports 2025 AGM Results
All matters submitted to shareholders in the Notice of Meeting and Information Circular dated August 11, 2025 were approved at Silvercorp's annual general meeting held September 26, 2025, including the election of directors. A total of 108,216,233 common shares, or 49.50% of votes attached to all outstanding shares as at the record date, were represented at the meeting. Shareholders also re-approved the share-based compensation plan and the re-appointment of Deloitte LLP as auditors for the ensuing year.
CorporateSilvercorp Renews Share Repurchase Program
A normal course issuer bid commencing September 19, 2025 will allow Silvercorp to repurchase up to 8,747,245 common shares, about 4% of the 218,681,127 shares outstanding as of September 5, 2025, with the program expiring September 18, 2026. Daily TSX purchases are capped at 157,233 shares, 25% of the six-month average daily volume of 628,934, and all repurchased shares will be cancelled. Under the 2024 NCIB, 300,000 shares were bought at a weighted average price of CAD$4.51 and cancelled.
CorporateSilvercorp Publishes Fiscal 2025 Sustainability Report
Silvercorp Metals published its Sustainability Report for the year ended March 31, 2025, covering ESG commitments, performance and targets. Highlights include $1.3 million invested in local community initiatives, over 68,000 hours of employee training (a 115% increase year over year), a 44% reduction in the Lost Time Incident Rate to 0.52, a 17% reduction in Scope 1 and 2 GHG emissions from the 2020 baseline, zero significant environmental incidents, and four new corporate policies. The report references GRI, UN SDGs, TCFD, ICMM tailings and SASB standards.
CorporateSilvercorp Announces Filing of Base Shelf Prospectus
A base shelf prospectus dated September 4, 2025 has been filed with securities commissions in all Canadian provinces and territories, along with a corresponding Form F-10 registration statement with the SEC, which is now effective under the U.S./Canada Multijurisdictional Disclosure System. The filings qualify Silvercorp to offer up to US$400 million of common shares, preferred shares, debt securities, subscription receipts, units and warrants over the 25-month effective period. The company said it has no present intention to offer securities under the prospectus.
FinancingSilvercorp Reports Adjusted Net Income of $21.0 Million, $0.10 per Share, and Cash Flow from Operating Activities of $48.3 Million for Q1 Fiscal 2026
Q1 Fiscal 2026 (three months ended June 30, 2025) revenue was $81.3 million on sales of about 1.8 million oz silver, 1,951 oz gold, 15.2 million lb lead and 5.2 million lb zinc, with net income attributable to shareholders of $18.1 million ($0.08 per share), adjusted net income of $21.0 million ($0.10 per share), operating cash flow of $48.3 million and AISC of $13.49 per oz silver net of by-products. Cash, equivalents and short-term investments were $377.1 million. A contractor worker fatality at the HZG mine in the Ying Mining District has closed certain mining areas, with an estimated 20-25% production shortfall in the current quarter.
CorporateSilvercorp Announces Ecuador Constitutional Court Decision Upholding Environmental License for El Domo Project
Ecuador's Constitutional Court unanimously rejected the final legal challenge to the environmental license for Silvercorp's El Domo project, upholding its validity. The court declined to admit the plaintiffs' Extraordinary Protection Action on February 26, 2025, and rejected their clarification motion on July 24, 2025, following earlier dismissals by local and provincial courts. El Domo, in Las Naves, Bolívar Province, Ecuador, is under construction; Silvercorp said disruptive activities by anti-mining groups have not materially impacted project advancement to date.
CorporateSilvercorp Reports Operational Results and Financial Results Release Date for the First Quarter, Fiscal 2026
Revenue of approximately $81.3 million in the quarter ended June 30, 2025, up 13% year over year, with silver production of 1.8 million ounces (up 6%), silver equivalent of about 2.0 million ounces, lead of about 15.7 million pounds (up 1%) and zinc of about 5.2 million pounds (down 19%). Exploration at the Ying Mining District and GC Mine totalled 81,425 m of drilling and 19,950 m of tunneling; El Domo construction moved 370,564 cubic metres and Kuanping development began. Q1 Fiscal 2026 financial results are due August 7, 2025.
CorporateSilvercorp Announces Filing of the Updated Mineral Resource Estimate for its Condor Project
An updated mineral resource estimate for the Condor gold project in Ecuador has been filed as an NI 43-101 technical report titled Independent Technical Report for the Condor Project, Ecuador, prepared by SRK Consulting (Canada) Inc. with an effective date of February 28, 2025. There are no material differences from the information in the Company's May 12, 2025 news release. Condor is not considered a material property, and the estimate was prepared and filed voluntarily.
Resource updateSilvercorp Files Form 40-F Annual Report
Silvercorp Metals filed its fiscal 2025 annual report on Form 40-F with the U.S. Securities and Exchange Commission on June 5, 2025. The filing includes the company's fiscal 2025 annual audited financial statements, management's discussion and analysis, and annual information form, available on Silvercorp's website and the SEC's website. Printed copies are available free of charge to securityholders upon written request.
CorporateSilvercorp Declares Semi-Annual Dividend of US$0.0125 per Share
A semi-annual dividend of US$0.0125 per share was declared by Silvercorp's Board of Directors, payable to shareholders of record at the close of business on June 6, 2025, with payment scheduled on or before June 26, 2025. The dividends are considered eligible dividends for Canadian tax purposes.
CorporateSilvercorp Reports Adjusted Net Income of $75.1 Million, $0.37 per Share, and Cash Flow from Operations of $138.6 Million for Fiscal 2025
Fiscal 2025 results (year ended March 31, 2025) included revenue of $298.9 million, up 39%, net income attributable to shareholders of $58.2 million or $0.29 per share, adjusted net income of $75.1 million or $0.37 per share, and cash flow from operating activities of $138.6 million. Production totalled 7,495 oz gold, 6.948 million oz silver, 62.170 million lb lead and 23.317 million lb zinc, with AISC of $12.12 per oz silver net of by-product credits. In Q4, revenue was $75.1 million and the loss attributable to shareholders was $7.6 million, or $0.03 per share, after a $20.6 million derivative fair value charge. Cash, equivalents and short-term investments ended at $369.1 million.
CorporateSilvercorp Announces Updated Mineral Resource Estimate for its Condor Project, located in the Zamora Chinchipe Province of Ecuador
An updated NI 43-101 mineral resource estimate for the Condor gold project in Zamora-Chinchipe Province, Ecuador, effective February 28, 2025, was prepared by SRK Consulting (Canada) Inc. At a 2.2 g/t AuEq cutoff, the Camp and Los Cuyes underground resources total 3.17 Mt indicated containing 0.34 Moz gold, 2.0 Moz silver and 49.4 Mlbs zinc, plus 12.1 Mt inferred containing 1.38 Moz gold, 8.56 Moz silver and 204.2 Mlbs zinc. Conceptual open pit resources at Soledad and Enma total 4.06 Mt indicated and 14.17 Mt inferred. A 3,500-metre, 10-hole drill program starts in May 2025, with a PEA planned by end-2025.
Resource updateSilvercorp Announces the Construction Plan and Schedule for the Development of the El Domo Project
A construction budget of $240.5 million has been set for the El Domo project in central Ecuador, compared with $247.6 million in the 2021 feasibility study, with production targeted by the end of 2026. Package #1 site preparation, roads, channels and TSF was awarded to CRCC 14 Bureau Group in January 2025; open pit stripping starts August 2025, moving 5.4 million cubic metres. The processing plant and equipment are estimated at $33.0 million, with commissioning in December 2026.
CorporateSilvercorp Reports Operational Results and Financial Results Release Date for the Fiscal 2025, and Issues Fiscal 2026 Production, Cash Costs, and Capital Expenditure Guidance
Fiscal 2025 revenue was approximately $298.9 million, up 39% over Fiscal 2024, with record silver production of about 6.9 million ounces, up 12% and within guidance of 6.8 to 7.2 million ounces. Q4 revenue was approximately $75.1 million, up 76%, on 345,984 tonnes processed. Fiscal 2026 guidance calls for 1,331,000 to 1,369,000 tonnes processed, 7,380 to 7,600 Koz silver, consolidated cash cost of $80.7 to $82.1 per tonne, and AISC of $154.8 to $157.8. Audited results are due May 22, 2025.
CorporateSilvercorp Reports Adjusted Net Income Of $22.0 Million, $0.10 Per Share, And Cash Flow from Operations Of $44.8 Million For Q3 Fiscal 2025
Q3 fiscal 2025 (three months ended December 31, 2024) results included revenue of $83.6 million, net income attributable to shareholders of $26.1 million or $0.12 per share, adjusted net income of $22.0 million or $0.10 per share, and operating cash flow of $44.8 million. Production was 2,056 ounces of gold, 1.9 million ounces of silver, 17.1 million pounds of lead and 6.7 million pounds of zinc, with all-in sustaining cost of $12.75 per ounce of silver net of by-product credits. Cash, equivalents and short-term investments totalled $354.6 million.
CorporateSilvercorp Reports Operational Results and Financial Results Release Date for the Third Quarter, Fiscal 2025
Revenue of approximately $83.6 million in the third quarter of fiscal 2025 ended December 31, 2024, up 43% year over year, with silver production of 1.9 million ounces (up 16%), lead of about 17.1 million pounds (up 2%) and zinc of about 6.7 million pounds (down 10%). Ore mined was 383,543 tonnes and ore milled 361,810 tonnes. About 145 thousand tonnes of stockpiled ore at the Ying Mining District will be processed in the fourth quarter. Unaudited financial results are expected February 11, 2025.
CorporateTailings Storage Facility No. 3 and New 1,500 tonne per day Mill Expansion Completed and in Operation at Ying Mine, China
Construction of tailings storage facility No. 3 and a new 1,500 tonne per day flotation production line at the Ying Mining District in Henan Province, China was completed in early December 2024, with both now fully operating after a one-month commissioning period. Phase 1 of TSF No. 3 cost approximately US$28 million versus a $38 million budget and holds about 9.92 million cubic metres; the flotation line cost $7.2 million and has reached 1,700 tpd. Total Ying milling capacity is expected to exceed 1.3 million tonnes per year.
CorporateSilvercorp Reports on El Domo Project Development Progress and Awarding the First Construction Contract
Bid Package 1 at the El Domo copper-gold project in central Ecuador has been awarded to CRCC 14 Bureau Group CO., Ltd. following four bids received on a "Unit Cost" basis; the package covers a temporary camp, tailings storage facility starter dam phase, saprolite waste dump, water channels, haul roads and site preparation. Silvercorp, Curimining and Salazar Resources continue to target production in the second half of 2026, with Bid Packages 2 and 3 to be awarded in Q1 2025. A powerline contract with CNEL EP has been executed.
Corporate
202440 releases
Silvercorp Intercepts 34 Grams per Tonne Gold and 4.45 Percent Copper Over 0.82 Metres at the LMW Mine, China
Drilling at the LMW underground mine in the Ying Mining District, Henan Province, China returned 34 g/t gold, 31 g/t silver and 4.45% copper over 0.82 m of vein LM28 at the 1,019 m elevation, 2,705 g/t silver, 0.67% lead, 0.26% zinc and 0.14% copper over 18.02 m of vein W18W, and 4,738 g/t silver, 2.12% lead and 1.33% zinc over 1.80 m of vein LM32E. From June 1, 2023 to November 30, 2024, 78,980 m in 678 holes were completed, with assays received for 548 holes.
Drill resultsSilvercorp Provides Plan to Develop the Condor Gold Project as a High-Grade Underground Mine
Plans were outlined to develop the Condor gold project in southern Ecuador as a high-grade underground mine rather than the high-tonnage, low-grade open pit outlined in a previous operator's 2021 PEA. Work may include re-estimating mineral resources on an underground basis, publishing a new PEA, community agreements and permitting for two cross-cut exploration access tunnels at different elevations, underground drilling, a feasibility study and a construction decision. Cited intercepts include 44.16 g/t Au over 4.5 m true width at Enma and 9.00 g/t Au over 21.1 m at San Jose.
Drill resultsSilvercorp Announces Closing of US$150 million Convertible Senior Notes Offering
A private placement offering of US$150,000,000 aggregate principal amount of 4.75% convertible senior notes due 2029 has closed, including full exercise of the initial purchasers' option for up to an additional US$20,000,000 principal amount. Silvercorp intends to use net proceeds for construction of copper-gold mining projects outside of China, exploration and development of other projects, and working capital.
FinancingSilvercorp Announces Pricing of US$130 Million Convertible Senior Notes Offering
A private placement of US$130,000,000 aggregate principal amount of 4.75% convertible senior notes due December 15, 2029 has been priced, with initial purchasers granted an option for up to US$20,000,000 additional notes. The initial conversion price is approximately US$4.63 per common share, a premium of about 30% over the November 20, 2024 closing price of US$3.56 on the NYSE American. Net proceeds of approximately US$124.2 million will fund construction of copper-gold mining projects outside China, other exploration and development, and working capital; closing is expected on or about November 25, 2024.
FinancingSilvercorp Announces Offering of US$130 Million Convertible Senior Notes
A private placement offering of US$130,000,000 aggregate principal amount of convertible senior notes due December 15, 2029 has commenced, with initial purchasers to be granted an option for up to an additional US$20,000,000. The senior unsecured notes will pay interest semi-annually, are convertible into cash, common shares or a combination at Silvercorp's election, and are not redeemable before December 20, 2027 except on certain tax law changes. Proceeds are intended for construction of copper-gold mining projects outside China, other exploration and development, and working capital.
FinancingSilvercorp Provides Positive El Domo Legal Update and Announces Repayment of Wheaton Early Deposit
The Provincial Court of Bolivar, Ecuador, dismissed on November 12, 2024 the plaintiffs' appeal in the Curipamba – El Domo constitutional protective action, affirming that Ecuadorian subsidiary Curimining can continue construction of the El Domo project and upholding the environmental license issued by MAATE. Silvercorp and Salazar Resources also reported repayment of the US$13.25 million early deposit advanced by Wheaton Precious Metals, making the precious metals purchase agreement's full $175.5 million cash contribution available to be drawn during construction, subject to certain conditions.
CorporateSilvercorp Declares Semi-Annual Dividend of US$0.0125 Per Share
A semi-annual dividend of US$0.0125 per share was declared by Silvercorp Metals' Board of Directors, payable to shareholders of record at the close of business on November 29, 2024, with payment scheduled on or before December 13, 2024. The dividends are considered eligible dividends for Canadian tax purposes.
CorporateSilvercorp Reports Adjusted Net Income of $17.8 Million, $0.09 per Share, and Cash Flow From Operations of $23.1 Million for Q2 Fiscal 2025
Q2 fiscal 2025 results (three months ended September 30, 2024) showed revenue of $68.0 million, net income attributable to shareholders of $17.7 million or $0.09 per share, adjusted net income of $17.8 million or $0.09 per share, and operating cash flow of $23.1 million, with cash cost per ounce of silver net of by-products of negative $0.73 and all-in sustaining cost of $11.66. Production was 1,183 ounces of gold, 1.7 million ounces of silver, 13.2 million pounds of lead and 5.8 million pounds of zinc. Commissioning trial runs of the new 1,500 tonne per day mill at the Ying Mining District began November 1, 2024, with about 129,000 tonnes of stockpiled ore to be processed over 2-3 months.
CorporateSilvercorp Reports Operational Results and Financial Results Release Date for the Second Quarter, Fiscal 2025
Revenue of approximately $68.0 million was reported for the second quarter of fiscal 2025 ended September 30, 2024, up 26% year over year, with ore mined of 361,440 tonnes (up 32%) and ore milled of 297,205 tonnes (up 14%). Production totalled 1.7 million ounces of silver (up 4%), 5.8 million pounds of zinc (up 26%) and 13.2 million pounds of lead (down 18%), with about 129,000 tonnes stockpiled due to mill capacity constraints. Unaudited financial results are due November 7, 2024.
CorporateSilvercorp Renews Mining License at Ying Mining District
The Yuelianggou Mining License, covering the SGX and HZG silver-lead-zinc mines in the western part of the Ying Mining District, has been renewed until September 24, 2035, with production capacity increased to 500,000 tonnes per year, per information posted by the Mineral Rights Administration of Henan Province's Department of Natural Resources. The paper certificate will be issued subject to a final assessment of historical government investment in the License area, which may require certain payments. The mines are operating normally and Silvercorp is working on a mine optimization plan to reach the allowed capacity.
CorporateSilvercorp Reports 2024 AGM Results
All matters submitted to shareholders, as set out in Silvercorp Metals' Notice of Meeting and Information Circular dated August 12, 2024, were approved by the requisite majority of votes cast at the annual general meeting held September 27, 2024. A total of 98,611,116 common shares, representing 45.55% of the votes attached to all outstanding shares as at the record date, were represented at the meeting. Final results will be filed on SEDAR+ and the company's website.
CorporateSilvercorp Renews Share Repurchase Program
A renewed normal course issuer bid begins September 19, 2024 and expires September 18, 2025, allowing repurchase of up to 8,670,700 common shares, about 4% of the 216,767,513 shares outstanding as of September 5, 2024. Daily TSX purchases are capped at 101,257 shares, 25% of the 405,031 six-month average daily volume, and all repurchased shares will be cancelled. Under the prior 2023 NCIB, 191,770 shares were acquired at a weighted average price of CAD$3.16 and cancelled.
CorporateSilvercorp Announces Filing of Updated Technical Report for the GC Mine
An updated NI 43-101 technical report for the Gaocheng (GC) silver-lead-zinc Mine in Guangdong Province, China has been filed, titled Technical Report on Gaocheng Silver-Lead-Zinc Project in Guangdong Province, China. The report is effective June 30, 2024 and was prepared by SRK Consulting China Ltd. There are no material differences between the report and the information in the Company's August 27, 2024 news release.
Study resultsSilvercorp Publishes Fiscal 2024 Sustainability Report
The Fiscal 2024 Sustainability Report has been published, reporting an 85% water recycling rate at processing plants (a 4% increase from the 2020 baseline), deployment of 10 electric mining trucks, XRT waste rock screening cutting electricity use by 50 kilowatt-hours per tonne screened, and zero significant environmental incidents. Social and governance figures include $3.2 million invested in local community initiatives, 74% local employment, and 33% female representation and 83% independence on the Board. The report references GRI, TCFD, SASB, ICMM and UN SDG frameworks.
CorporateSilvercorp Announces Filing of Updated Technical Reports for the Ying Mining District
An updated NI 43-101 technical report for the Ying Ag-Pb-Zn Property in Henan Province, China has been filed, effective July 16, 2024 and prepared independently by AMC Mining Consultants (Canada) Ltd. The report follows the company's August 19, 2024 news release and contains no material differences from the information in that release. It is available on Silvercorp's website and on SEDAR+.
Study resultsSilvercorp Issues Updated Technical Report for the GC Mine
An updated NI 43-101 technical report for the Gaocheng (GC) underground mine in Guangdong Province, China, effective June 30, 2024 and prepared by SRK Consulting China Ltd, estimates Measured and Indicated Mineral Resources of 11.5 million tonnes grading 84 g/t silver, 1.18% lead and 2.85% zinc, and Proven and Probable Mineral Reserves of 5.0 million tonnes grading 81 g/t silver, 1.21% lead and 2.84% zinc, a 20% increase in reserve tonnes versus the 2021 report. Post-tax NPV at an 8% discount rate is $63.1M, with $62.5M attributable to Silvercorp's 99% interest. Production is planned to rise from about 326,000 tpa in FY2025 to roughly 362,000–363,000 tpa from FY2026 to FY2037.
Study resultsSilvercorp Updates El Domo Development Plans and Staffing
Construction preparations have begun at the El Domo copper-gold project in central Ecuador, with a goal of production sometime in 2026, following the July 31, 2024 acquisition of Adventus Mining and receipt of the Change of Phase. Jaymes Dircks was hired as General Manager of Ecuadorian subsidiary Curimining to lead construction, along with a senior mining engineer. Planned work includes further metallurgical test work reviewing sequential copper flotation, which in 2019 Test #26 yielded 87% Cu, 74% Au and 53% Ag rougher recoveries, plus a five-hole geotechnical drilling campaign.
CorporateSilvercorp Issues Updated Technical Report for the Ying Mining District
An updated NI 43-101 technical report by AMC Mining Consultants for the Ying Mining District in Henan Province, China, covering the SGX, HZG, HPG, TLP, LME, LMW and DCG underground mines, reports Proven and Probable Mineral Reserves of 76 million tonnes grading 216 g/t Ag, 0.17 g/t Au, 3.20% Pb and 0.96% Zn, and Measured and Indicated Resources of 22.15 million tonnes, with a 14-year mine life. Using $22/oz Ag, $1,900/oz Au, $1.00/lb Pb, $1.15/lb Zn and a 5% discount rate, pre-tax and post-tax NPVs are $896M and $699M.
Study resultsSilvercorp Reports Adjusted Net Income of $20.6 Million, $0.12 per Share, and Cash Flow from Operations of $40.0 Million for Q1 Fiscal 2025
Q1 Fiscal 2025 results (three months ended June 30, 2024) included revenue of $72.2 million, net income attributable to shareholders of $21.9 million or $0.12 per share, adjusted basic earnings of $20.6 million or $0.12 per share, and operating cash flow of $40.0 million. Production was about 1,146 ounces gold, 1.7 million ounces silver, 15.6 million pounds lead and 6.4 million pounds zinc, with all-in sustaining cost of $9.82 per ounce of silver net of by-product credits. Cash, equivalents and short-term investments totalled $215.7 million; 59,293 tonnes of stockpiled ore await the new 1,500 tonne per day mill at Ying, expected in operation by November 2024.
CorporateEl Domo - Curipamba Project Fully Permitted to Start Construction
Ecuador's Ministry of Energy and Mines has issued a Resolution of Change of Phase for the El Domo-Curipamba Project, advancing it from the Economic Evaluation Phase to the Exploitation Phase and permitting the start of construction and subsequent mine operation. The change of phase for a medium-scale project is equivalent to the Exploitation Agreement for large-scale Ecuadorian mines such as Fruta del Norte and Mirador. Salazar Resources holds a 25% stake in Curipamba, fully carried through to production.
CorporateSilvercorp Update on Acquisition of Adventus
Silvercorp will close its acquisition of Adventus Mining Corporation on July 31, 2024, under the arrangement agreement announced April 26, 2024, acquiring all issued and outstanding Adventus shares. The decision follows a July 24, 2024 ruling by the local court in Las Naves Canton, Bolívar Province, Ecuador rejecting litigation seeking to void the environmental licence for the Curipamba-El Domo project; Silvercorp had deemed that litigation a Material Adverse Effect on July 5, 2024. The plaintiffs have given notice of intent to appeal.
AcquisitionSilvercorp Completes Acquisition of Adventus
Silvercorp Metals has closed its acquisition of all outstanding common shares of Adventus Mining Corporation, effective 12:01 a.m. on July 31, 2024, under a plan of arrangement pursuant to the Canada Business Corporations Act. Former Adventus shareholders other than Silvercorp receive 0.1015 of one Silvercorp common share per Adventus share, with outstanding options and warrants adjusted accordingly and restricted share units settled in cash. Adventus shares will be delisted from the TSX Venture Exchange and it will apply to cease being a reporting issuer.
AcquisitionSilvercorp Reports Operational Results and Financial Results Release Date for the First Quarter, Fiscal 2025
First-quarter fiscal 2025 results for the quarter ended June 30, 2024 included record revenue of approximately $72.0 million, up 20% year over year, with ore mined of 341,927 tonnes (up 13%) and ore milled of 307,696 tonnes (up 4%). Silver production was 1.7 million ounces, down 4%, lead was approximately 15.6 million pounds, down 12%, and zinc approximately 6.4 million pounds, down 6%, as 59,293 tonnes of stockpiled ore went unprocessed due to mill capacity constraints at the Ying Mining District. Audited financial results are expected August 13, 2024, after market close.
CorporateUpdate on the Acquisition of Adventus Mining Corporation
A Material Adverse Effect has arisen in respect of Adventus Mining Corporation under the April 26, 2024 arrangement agreement, Silvercorp said, based on litigation disclosed in Adventus's June 17, 2024 news release seeking to void the environmental licence of the Curipamba-El Domo project in Ecuador. Silvercorp said it remains open to working with Adventus to close the transaction if closing conditions for its benefit are satisfied, and has offered to discuss extending the July 31 deadline.
AcquisitionSilvercorp Declares Semi-Annual Dividend of US$0.0125 Per Share
A semi-annual dividend of US$0.0125 per share was declared by Silvercorp's Board of Directors, payable to shareholders of record at the close of business on June 7, 2024, with payment scheduled on or before June 27, 2024. The dividends are considered eligible dividends for Canadian tax purposes.
CorporateSilvercorp Reports Adjusted Net Income Of $39.3 Million, $0.22 Per Share,And Cash Flow From Operations Of $91.6 Million For Fiscal 2024
Fiscal 2024 results (year ended March 31, 2024) included revenue of $215.2 million, net income attributable to shareholders of $36.3 million or $0.21 per share, adjusted earnings of $39.3 million or $0.22 per share, and cash flow from operating activities of $91.6 million. Production totalled approximately 7,268 ounces of gold, 6.2 million ounces of silver, 63.2 million pounds of lead and 23.4 million pounds of zinc, with all-in sustaining cost of $11.38 per ounce of silver net of by-product credits. Cash, equivalents and short-term investments were $184.9 million.
CorporateSilvercorp to Acquire Adventus, Creating a Geographically Diversified Mining Company by Adding the Advanced El Domo Project
Silvercorp has entered a definitive arrangement agreement to acquire all outstanding shares of Adventus Mining, with Adventus shareholders receiving 0.1015 of a Silvercorp share per Adventus share, implying C$0.50 per share, a 31% premium on 20-day VWAPs as at April 25, 2024, and an implied equity value of about C$200 million fully diluted. Silvercorp shareholders would hold about 81.6% of the combined company, which adds the 75%-owned El Domo copper-gold project in Ecuador and the Condor gold project. Silvercorp will also subscribe for 67,441,217 Adventus shares at C$0.38 for C$25,627,662, about 15%.
AcquisitionSilvercorp Reports Operational Results and Financial Results Release Date for Fiscal 2024, and Issues Fiscal 2025 Production, Cash Costs, and Capital Expenditure Guidance
Fiscal 2024 production, ended March 31, 2024, totalled 7,268 ounces of gold (up 65%), approximately 6.8 million ounces of silver equivalent (down 2%), 63.2 million pounds of lead (down 7%) and 23.4 million pounds of zinc (down 1%), with 827,112 tonnes mined at the Ying Mining District and 290,006 tonnes at the GC Mine. Fiscal 2025 guidance is 1,151,000 to 1,256,000 tonnes processed, 7,900–9,000 ounces gold, 6.8–7.2 million ounces silver, 64.2–69.3 million pounds lead, 27.1–30.1 million pounds zinc, and $90.8 million capital expenditures. Audited results are expected May 23, 2024.
CorporateSilvercorp Offer for OreCorp Lapsed
Silvercorp's off-market takeover bid for all ordinary shares of OreCorp Limited (ASX:ORR) lapsed after the 50.1% minimum acceptance condition was not satisfied before the offer closed on March 22, 2024. Silvercorp elected not to exercise its right to match a competing offer for OreCorp. The Company remains entitled to a break fee of approximately AUD$2.8 million in certain circumstances under the BID.
AcquisitionSilvercorp Offer for OreCorp to Expire March 22, 2024
Silvercorp's off-market takeover bid for the OreCorp Limited (ASX:ORR) shares it does not already own will close at 7:00pm (Sydney time) on March 22, 2024. As of market close on March 14, 2024, the offer — A$0.19 in cash plus 0.0967 Silvercorp shares per OreCorp share — had an implied value of A$0.60 per OreCorp share, a 9% premium to the Perseus Mining offer. If the 50.1% minimum acceptance condition is not met, tendered shares will be returned. Silvercorp has received Tanzanian Fair Competition Commission approval.
AcquisitionSilvercorp Clarifies OreCorp Offer Intentions
Silvercorp will file a third supplementary bidder statement confirming it will not waive the 50.1% minimum acceptance condition of its off-market takeover bid for all OreCorp Limited (ASX: ORR) shares it does not already own, offered at 0.0967 Silvercorp common shares plus A$0.19 cash per OreCorp share. The offer is open for acceptances until 7:00 pm (Sydney time) on 22 March 2024, unless extended or withdrawn. If the condition is unmet, Silvercorp will rescind acceptance contracts or extend the offer period.
CorporateSilvercorp Provides OreCorp Offer Update
Silvercorp's off-market takeover bid for all OreCorp Limited (ASX:ORR) ordinary shares it does not already own has been extended to close at 7:00pm (Sydney time) on March 22, 2024, unless further extended or withdrawn under the Corporations Act 2001 (Cth). Notice was lodged with the Australian Securities and Investments Commission and given to OreCorp. Silvercorp also noted that Perseus Mining has not yet updated on its Fair Competition Commission of Tanzania merger control approval application for its competing offer.
CorporateSilvercorp Reports Adjusted Net Income of $11.5 Million, $0.06 per Share, and Cash Flow from Operations of $23.6 Million for Q3 Fiscal 2024
Q3 Fiscal 2024 results (three months ended December 31, 2023) included revenue of $58.5 million, net income attributable to shareholders of $10.5 million or $0.06 per share, adjusted earnings of $11.5 million or $0.06 per share, and operating cash flow of $23.6 million. Production was about 1,342 ounces of gold, 1.7 million ounces of silver, 16.8 million pounds of lead and 7.4 million pounds of zinc, with all-in sustaining costs of $11.33 per ounce of silver net of by-product credits. Cash, cash equivalents and short-term investments totalled $198.3 million.
CorporateHelen Cai Joins Silvercorp Board
Helen Cai has been appointed to Silvercorp Metals' board as an independent director. Cai is a finance and investment professional with over two decades of experience and currently serves as an independent director of Barrick Gold Corporation and Largo Inc. She previously worked as a managing director at China International Capital Corporation until spring 2021 and as a research analyst at Goldman Sachs Group.
ManagementSilvercorp Receives Tanzanian FCC Approval and Provides Further Updates on OreCorp Offer
A Merger Clearance Certificate dated January 30, 2024 from the Tanzanian Fair Competition Commission provides unconditional merger control approval for Silvercorp's off-market takeover offer for OreCorp Limited shares it does not already own, at 0.0967 Silvercorp common shares plus A$0.19 cash per OreCorp share; this was the sole Tanzanian regulatory requirement. OreCorp's independent expert, BDO Corporate Finance (WA), concluded the offer is fair and reasonable absent a superior proposal, and each OreCorp director has accepted. The offer closes 7:00 p.m. Sydney time on February 23, 2024 unless extended or withdrawn.
CorporateSilvercorp Satisfies Another Condition in Connection with OreCorp Offer
Authorization of Silvercorp's supplemental listing application has been received from the NYSE American in connection with its off-market takeover offer for all OreCorp Limited shares not already owned, for consideration of 0.0967 Silvercorp common shares and A$0.19 cash per OreCorp share. Silvercorp will now issue notice under the Australian Corporations Act that the Stock Exchange Approvals condition has been satisfied, following conditional TSX approval on January 24, 2024. A Tanzanian Fair Competition Commission decision is expected by mid-February 2024.
AcquisitionSilvercorp Reports High-Grade Silver Drill Results at The TLP Mine
Drilling at the TLP mine in the Ying Mining District, China returned high-grade silver intercepts, including surface hole ZKTDB0102 with 2,186 g/t silver, 6.80% lead, 0.35% zinc, 0.11 g/t gold and 0.43% copper over 2.29 m, and underground hole ZKG1830 with 5,955 g/t silver, 1.53% lead, 0.98% zinc over 0.60 m. From June 16 to December 31, 2023, 23,742 m in 180 holes were completed; assays for 158 holes were received, with 101 intersecting mineralized vein structures.
Drill resultsSilvercorp Receives TSX Conditional Approval in Connection with OreCorp Offer
Conditional approval from the Toronto Stock Exchange has been received for the listing of Silvercorp shares to be issued under its off-market takeover offer for all OreCorp Limited shares it does not already own, at 0.0967 Silvercorp common shares plus A$0.19 cash per OreCorp share. Final TSX approval is subject to customary conditions, and conditional approval from NYSE American is expected shortly. A merger-approval decision from the Tanzanian Fair Competition Commission is anticipated by mid-February.
CorporateSilvercorp Provides Update on OreCorp Transaction
Dispatch of the offer document to OreCorp Limited shareholders began January 15, 2024 in relation to Silvercorp's off-market takeover offer for all OreCorp shares not already owned by Silvercorp. Consideration is 0.0967 Silvercorp common shares plus A$0.19 cash per OreCorp share, as described in the December 26, 2023 news release. The offer is open for acceptance until February 23, 2024 (Sydney time), unless extended.
AcquisitionSilvercorp Reports Operational Results and Financial Results Release Date for Third Quarter, Fiscal 2024
Third-quarter fiscal 2024 production for the quarter ended December 31, 2023 included 1,342 ounces of gold, up 22% year over year, approximately 1.8 million ounces of silver equivalent, 7.4 million pounds of zinc, up 6%, and 16.8 million pounds of lead, down 16%. At the Ying Mining District 245,606 tonnes were mined and 214,201 tonnes milled, while the GC Mine mined 99,667 tonnes and milled 98,299 tonnes. Unaudited financial results are expected on Thursday, February 8, 2024 after market close.
Corporate
202328 releases
Silvercorp Adds New General Manager for Tanzania Project
Kevin Moxham has been hired as General Manager of Tanzania Projects, effective January 1, 2024, reporting to the CEO and President. He will lead construction and commissioning of the Nyanzaga Gold Project and related infrastructure in Tanzania once Silvercorp has assumed effective control of the project. Moxham previously served as Executive General Manager of the Khoemacau Copper Mine in Botswana, which was sold to MMG Limited for approximately US$2 billion in November 2023.
ManagementSilvercorp Announces Takeover Offer for OreCorp
An off-market takeover offer has been agreed under a Bid Implementation Deed for all OreCorp Limited (ASX: ORR) shares Silvercorp does not already own, at A$0.19 cash plus 0.0967 Silvercorp shares per OreCorp share, an implied A$0.589 per share, replacing the previously agreed Scheme of Arrangement, which has been terminated. The offer is subject to a 50.1% minimum acceptance condition and other customary conditions, with no financing or due diligence conditions. Silvercorp holds 15.74% of OreCorp; the OreCorp Board unanimously recommends acceptance absent a Superior Proposal. A break fee of approximately A$2.8 million may apply. OreCorp owns the Nyanzaga Project in Tanzania.
AcquisitionSilvercorp Reports High-Grade Gold-Silver-Lead-Zinc Drill Results from the HPG Mine
Drilling at the HPG mine in the Ying Mining District, China returned intercepts including 8.24 m of 4.31 g/t gold, 15 g/t silver and 2.10% lead from 56.28 m in surface hole ZK1645; 0.61 m of 3.86 g/t gold, 6,132 g/t silver, 6.45% lead, 8.47% zinc and 0.33% copper in hole ZK02N36; and 0.45 m of 25.80 g/t gold and 216 g/t silver in hole ZK19N15. From January 1, 2022 to November 15, 2023, 45,046 m in 297 holes were completed, with 139 of 270 assayed holes intercepting mineralization; eight rigs are drilling.
Drill resultsSilvercorp Considering Perseus Announcements
Silvercorp is considering announcements made by Perseus Mining Limited (ASX/TSX: PRU) regarding Perseus's acquisition of a 19.9% interest in OreCorp Limited (ASX: ORR), to determine an appropriate course of action in the best interests of Silvercorp shareholders.
NewsSilvercorp and OreCorp Enter into Amending Agreement
Cash consideration in Silvercorp's agreed acquisition of OreCorp Limited (ASX: ORR) has been increased from A$0.15 to A$0.19 per OreCorp share, a 26.7% rise, under an amending deed to the August 5, 2023 scheme implementation deed; the share component remains 0.0967 of a Silvercorp common share or CDI. Silvercorp holds 72,312,344 OreCorp shares, or 15.40%. The OreCorp board unanimously recommends the revised scheme ahead of a shareholder meeting set for December 8, 2023, with Tanzanian regulatory approval already received and Federal Court of Australia and exchange acceptances outstanding.
CorporateSilvercorp Provides Update on OreCorp Transaction Progress
OreCorp shareholders will vote on the proposed scheme of arrangement with Silvercorp at a Scheme Meeting scheduled for 10:00 am (AWST) on December 8, 2023, following Federal Court approval on November 2 and delivery of the Scheme Booklet on November 8; the Independent Expert's Report concluded the Scheme is fair and reasonable and in the best interests of OreCorp shareholders absent a superior proposal. Silvercorp also received an unconditional Merger Clearance Certificate from the Tanzanian Fair Competition Commission dated November 3, 2023, the sole Tanzanian regulatory requirement. Consideration is A$0.15 cash plus 0.0967 Silvercorp shares per OreCorp share.
AcquisitionSilvercorp Reports Adjusted Net Income of $11.7 Million, $0.07 per Share, and Cash Flow from Operations of $28.8 Million for Q2 Fiscal 2024
Q2 Fiscal 2024 results (three months ended September 30, 2023) included revenue of $54.0 million, net income attributable to equity shareholders of $11.1 million or $0.06 per share, adjusted earnings of $11.7 million or $0.07 per share, and operating cash flow of $28.8 million. Production was 2,458 ounces of gold, 1.6 million ounces of silver, 16.1 million pounds of lead and 4.6 million pounds of zinc, with cash costs per ounce of silver net of by-products of negative $1.00 and AISC of $11.50. Cash, equivalents and short-term investments totalled $189.1 million.
CorporateSilvercorp Declares Semi-Annual Dividend of US$0.0125 per Share
A semi-annual dividend of US$0.0125 per share was declared by Silvercorp's Board of Directors, payable to shareholders of record at the close of business on November 24, 2023, with payment scheduled on or before December 15, 2023. The dividends are considered eligible dividends for Canadian tax purposes. Silvercorp produces silver, lead and zinc in concentrates from mines in China and trades on the TSX and NYSE American under SVM.
CorporateSilvercorp Reports Operational Results and Financial Results Release Date for Second Quarter, Fiscal 2024
Second quarter fiscal 2024 production (ended September 30, 2023) included 2,458 ounces of gold, up 105% year over year, approximately 1.8 million ounces of silver equivalent, and 16.1 million pounds of lead and 4.6 million pounds of zinc, down 11% and 23% respectively. At the Ying Mining District, 12,800 tonnes of gold ore grading 1.9 g/t gold were processed at 91.1% recovery, and the company produced and sold 649 ounces of gold doré. GC Mine output fell on a five-week production disruption. Unaudited financial results are due November 9, 2023 after market close.
CorporateSilvercorp Releases Fiscal 2023 Sustainability Report
Silvercorp Metals has published its Fiscal 2023 Sustainability Report, covering its environmental, social and governance performance, management and targets. Reported highlights include ISO certifications in environmental, energy and occupational health and safety management at 100% of operating mines, an 84.85% water recycling rate (up 5.63% from 2020 levels), no work-related fatalities, and a reduction in LTIR from 0.55 to 0.25. Four new ESG-related policies were adopted at the Board level.
CorporateSilvercorp Reports 2023 AGM Results
Shareholders approved all matters put forward at Silvercorp's annual general meeting held September 29, 2023, with 86,866,294 common shares, or 49.13% of votes attached to all outstanding shares as at the record date, represented. Directors elected were Dr. Rui Feng (94.78% for), Paul Simpson (55.16%), Yikang Liu (97.27%), Marina Katusa (96.77%) and Ken Robertson (96.83%). David Kong did not stand for re-election. Final results will be filed on SEDAR+.
CorporateSilvercorp Announces Share Repurchase Program
A normal course issuer bid was launched to repurchase up to 8,487,191 common shares, about 4.8% of the 176,816,488 shares outstanding as of September 5, 2023, running from September 19, 2023 to September 18, 2024, with purchases on the TSX capped at 58,170 shares per day and all shares to be cancelled. Silvercorp held cash, cash equivalents and short-term investments of $200.6 million and investments valued at $71.7 million as at June 30, 2023. Under the prior 2022 bid, 294,831 shares were bought at a weighted average CAD$3.49.
CorporateSilvercorp Provides Management Updates
Lon Shaver, previously Vice President, has been promoted to President of Silvercorp Metals, effective immediately. Luke Sun, previously Accounting Manager in Vancouver, has been promoted to Controller. Shaver joined the company in August 2018 with responsibility for investor relations and corporate development, while Sun joined in September 2014.
NewsGC Mine Safety Production Permits Renewed
Safety Production Permits for the GC Mine and its tailings storage facility in Guangdong Province have been renewed by the Department of Emergency Response and Administration of Guangdong Province for a three-year period, following expiry of the previous permits on September 3, 2023. Ahead of renewal, Silvercorp carried out authority-requested improvements including upgrading all electric cables to flame retardant cables and backfilling certain open areas. Those measures, a district-wide cessation of industrial activity tied to provincial power grid work, and a contractor employee fatality at the mine caused a production disruption of four to five weeks this quarter.
CorporateSilvercorp Reports Adjusted Net Income of $12.4 Million, $0.07 per Share, and Cash Flow from Operation of $28.9 Million for Q1 Fiscal 2024
Q1 fiscal 2024 results (three months ended June 30, 2023) included revenue of $60.0 million, net income attributable to shareholders of $9.2 million or $0.05 per share, adjusted earnings of $12.4 million or $0.07 per share, and operating cash flow of $28.9 million. Production was about 1.8 million ounces of silver, 1,552 ounces of gold, 17.8 million pounds of lead and 6.8 million pounds of zinc, with all-in sustaining cost of $9.46 per ounce of silver net of by-products. Cash, equivalents and short-term investments totalled $200.6 million.
CorporateExpiry of Exclusivity Period
The exclusivity period under the non-binding term sheet between Silvercorp Metals and Celsius Resources Limited, announced May 15, 2023 and subsequently extended, expired effective July 31, 2023. The two companies did not agree on the terms of a definitive agreement in line with the term sheet, and no negotiations are currently ongoing.
NewsSilvercorp to Acquire OreCorp, Creating a Diversified, High Growth Precious Metals Company
A binding scheme implementation deed will see Silvercorp acquire all OreCorp shares it does not already hold for A$0.15 cash plus 0.0967 of a Silvercorp share (valued at A$0.45), implying A$0.60 per share, a 31.5% premium to OreCorp's August 4, 2023 close of A$0.435 and valuing OreCorp at about A$242 million fully diluted. Silvercorp will also subscribe for 70,411,334 OreCorp shares at A$0.40 for about A$28 million to advance the Nyanzaga Gold Project in Tanzania, targeting first gold in H2 2025. OreCorp shareholders would hold 17.8% of Silvercorp; the scheme meeting is expected in November 2023.
AcquisitionSilvercorp Defers First Quarter Fiscal 2024 Financial Results Release Date to August 10, 2023
The release of first quarter fiscal 2024 financial results, for the period ended June 30, 2023, has been deferred by one week to August 10, 2023. Silvercorp attributed the delay to unforeseen travel by certain Board members and the August 7 public holiday in many parts of Canada.
CorporateSilvercorp Continues to Intersect High-Grade Silver-Lead Zones at the TLP Mine
Drilling at the TLP mine in the Ying Mining District, China returned intercepts including 8,254 g/t silver, 11.71% lead and 1.30% zinc over 1.87 m in hole ZKG0847, 7,140 g/t silver, 30.79% lead, 0.92% zinc and 1.43% copper over 0.57 m in ZKG1447, and 1,025 g/t silver, 3.01% lead and 0.11 g/t gold over 2.48 m in surface hole ZKTDB0413. From January 1, 2022 to June 15, 2023, 66,679 m in 340 holes were completed, with 197 of 227 assayed holes intersecting mineralization. Step-out drilling extended the resource area boundary about 300 m northeast; 10 rigs are drilling.
Drill resultsSilvercorp Reports Operational Results and the Financial Results Release Date for the First Quarter of Fiscal 2024
First-quarter fiscal 2024 production, for the quarter ended June 30, 2023, totalled approximately 1.9 million ounces of silver equivalent, including 1,552 ounces of gold (up 41%), approximately 1.8 million ounces of silver (down 4%), 17.8 million pounds of zinc (down 7%) and 6.8 million pounds of lead (down 2%) versus Q1 Fiscal 2023, with lower silver and lead output attributed to decreased head grades at the Ying Mining District. Fiscal 2024 guidance of 6.8–7.2 million ounces of silver, 4,400–5,500 ounces of gold, 70.5–73.8 million pounds of lead and 27.7–29.7 million pounds of zinc was reiterated. Unaudited financial results are expected August 3, 2023 after market close.
CorporateSilvercorp Reports High-Grade Silver-Lead Drill Results from the SGX Mine
Assay results from ongoing diamond drilling at the LMW mine in the Ying Mining District, China include hole ZKX0471 grading 3,943 g/t silver, 2.54% lead, 0.95% zinc and 1.07% copper over 3.43 m in vein W1, and hole ZKX1009 with 18.0 g/t gold, 32 g/t silver and 8.38% copper over 1.11 m in newly discovered low angle vein LM29. From October 1, 2022 to May 31, 2023, 25,692 m in 189 holes were completed, with assays received for 145 holes, plus 4,257 m of exploration tunnels.
Drill resultsSilvercorp Announces High-Grade Gold and Silver Drill Results and The Discovery of New Low Angle Gold Veins at the LMW Mine
Drill results from the LMW mine in the Ying Mining District, China, include the discovery of new low angle copper-gold veins at the W Zone, where hole ZKX1009 cut 18.0 g/t gold, 32 g/t silver and 8.38% copper over 1.11 m. Other intercepts included 22.79 g/t gold over 0.59 m in hole ZKX0598 and 3,943 g/t silver, 2.54% lead over 3.43 m in hole ZKX0471. From October 1, 2022 to May 31, 2023, 25,692 m in 189 holes were completed, with assays received for 145 holes.
Drill resultsSilvercorp Declares Semi-Annual Dividend of US$0.0125 per Share
A semi-annual dividend of US$0.0125 per share was declared by Silvercorp Metals' Board of Directors, payable to shareholders of record at the close of business on June 12, 2023, with payment scheduled on or before June 29, 2023. The dividends are considered eligible dividends for Canadian tax purposes.
CorporateSilvercorp Reports Adjusted Net Income of $37.0 Million, $0.21 per Share, and Cash Flow from Operation of $85.6 Million for Fiscal 2023
Fiscal 2023 results for the year ended March 31, 2023 showed revenue of $208.1 million, net income attributable to equity shareholders of $20.6 million or $0.12 per share, adjusted earnings of $37.0 million or $0.21 per share, and cash flow from operating activities of $85.6 million. Production totalled 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, at all-in sustaining costs of $9.73 per ounce of silver net of by-product credits.
CorporateSilvercorp Announces Non-Binding Term Sheet for Proposed Acquisition of Celsius Resources Limited
A non-binding term sheet has been signed to acquire all outstanding shares of Celsius Resources Limited (ASX/AIM: CLA) at AUD$0.030 per share, paid 90% in Silvercorp shares and 10% cash, a 76% premium to Celsius' 20-day VWAP as of May 11, 2023, totalling approximately AUD$56 million. The deal adds the Maalinao-Caigutan-Biyog copper-gold project in the Philippines. Silvercorp also subscribed to a AUD$5 million private placement at AUD$0.015 per share for about 15% of Celsius, and will invest AUD$4 million in a spinout holding the Sagay and Opuwo projects.
AcquisitionSilvercorp Reports Operational Results and the Financial Results Release Date for Fiscal 2023
Fiscal 2023 production for the year ended March 31, 2023 totalled 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, up 8%, 29% and 6% in silver, gold and lead and down 12% in zinc versus Fiscal 2022, from 1,072,654 tonnes milled at the Ying Mining District and GC Mine. Fiscal 2024 guidance of 6.8–7.2 million ounces of silver, 4,400–5,500 ounces of gold, 70.5–73.8 million pounds of lead and 27.7–29.7 million pounds of zinc was reiterated. Audited results are expected Thursday, May 25, 2023 after market close.
CorporateSilvercorp Reports Q3 Fiscal 2023 Adjusted Net Income Of $11.8 Million, $0.07 per Share, and Issues Fiscal 2024 Production, Cash Costs, and Capital Expenditure Guidance
Q3 Fiscal 2023 (three months ended December 31, 2022) net income attributable to equity holders was $11.9 million, or $0.07 per share, with adjusted earnings of $11.8 million ($0.07 per share) on revenue of $58.7 million and operating cash flow of $25.7 million. Output was 1.9 million ounces of silver, 1,100 ounces of gold, 20.1 million pounds of lead and 7.0 million pounds of zinc, at cash costs of negative $1.15 per silver ounce and AISC of $9.28. Fiscal 2024 guidance is 1,100,000 to 1,170,000 tonnes processed.
CorporateSilvercorp Reports Operational Results and the Financial Results Release Date for the Third Quarter of Fiscal 2023
Production in the third quarter of fiscal 2023 (ended December 31, 2022) totalled approximately 1.9 million ounces of silver, 1,100 ounces of gold, 20.1 million pounds of lead and 7.0 million pounds of zinc, with silver up 1%, gold flat, lead up 6% and zinc down 13% year over year. Consolidated ore mined was 296,050 tonnes and 303,442 tonnes were milled, from the Ying Mining District and GC Mine. Unaudited financial results are expected February 9, 2023 after market close.
Corporate
20226 releases
Silvercorp Declares Semi-Annual Dividend of US$0.0125 per Share and Reports the Filing of an Updated Technical Report for the Ying Mining District
A semi-annual dividend of US$0.0125 per share was declared, payable on or before December 16, 2022 to shareholders of record at the close of business on November 25, 2022. The dividends are eligible dividends for Canadian tax purposes. Silvercorp also filed an updated NI 43-101 technical report on mineral resources and reserves for the Ying Mining District in Henan Province, China, prepared by AMC Mining Consultants (Canada) Ltd. and covering the SGX, HZG, HPG, TLP, LME, LMW and DCG underground mines.
CorporateSilvercorp Reports Adjusted Net Income of $6.7 Million, $0.04 per Share, and Cash Flow from Operations of $14.1 Million for Q2 Fiscal 2023
Q2 Fiscal 2023 (three months ended September 30, 2022) revenue was $51.7 million, down 11% from $58.4 million, with adjusted earnings attributable to equity shareholders of $6.8 million, or $0.04 per share, cash flow from operating activities of $14.1 million, and a net loss of $1.7 million, or $0.01 per share, mainly due to a $20.2 million impairment charge against the La Yesca Project. Production totalled 1.8 million ounces of silver, 1,200 ounces of gold, 18.0 million pounds of lead and 6.0 million pounds of zinc, with all-in sustaining costs of $8.25 per ounce of silver net of by-product credits. Cash, cash equivalents and short-term investments stood at $201.0 million.
CorporateSilvercorp Reports Operational Results and the Financial Results Release Date for the Second Quarter of Fiscal 2023
Second-quarter fiscal 2023 production (quarter ended September 30, 2022) totalled approximately 1.8 million ounces of silver, 1,200 ounces of gold, 18.0 million pounds of lead and 6.0 million pounds of zinc, up 6%, 50% and 2% in silver, gold and lead and down 20% in zinc year over year. Consolidated ore mined was 290,981 tonnes, down 1%, with 291,643 tonnes milled, up 7%. GC Mine output fell as ventilation and power upgrades were made to meet new Chinese safety regulations effective September 1, 2022. Unaudited financial results are due November 3, 2022 after market close.
CorporateSilvercorp Intercepts New High-Grade Structures at LMW Mine, Ying Mining District, China, Including Vein LM26: 5.39 Metres True Width Grading 2,896 Grams Per Tonne Silver and 2.58% Copper
Drilling at the LMW mine in the Ying Mining District, China returned hole ZKX03X021 with 7.03 m (5.39 m true width) of vein LM26 grading 0.17 g/t gold, 2,896 g/t silver and 2.58% copper at the 602 m elevation, plus new high-grade silver-lead-zinc veins west of LMW including 2.82 m true width of 2,238 g/t silver, 5.90% lead in ZKX0818. From October 1, 2021 to September 30, 2022, 56,803 m in 416 holes were completed, with assays received for 378 holes; results are not in the December 31, 2021 reserve and resource update.
Drill resultsSilvercorp Reports 2022 AGM Results and Appoints New Director
All matters put to shareholders at Silvercorp's annual general meeting held September 30, 2022 were approved, with 101,907,093 common shares represented, or 57.58% of votes attached to outstanding shares as at the record date. Six directors were elected: Dr. Rui Feng (96.08%), Paul Simpson (91.10%), David Kong (91.41%), Yikang Liu (98.54%), Marina Katusa (95.20%) and new director Ken Robertson (98.62%), a Chartered Professional Accountant and former EY Partner and Global Mining & Metals Group Leader. Shareholders also approved the share-based compensation plan and re-appointed Deloitte LLP as auditors.
CorporateSilvercorp Reports Mineral Reserves And Resources And Extends Life Of Mine To 2037 At The Ying Mining District
An updated NI 43-101 technical report for the Ying Mining District in Henan Province, China, effective December 31, 2021, reports Proven and Probable Mineral Reserves of 12.3 million tonnes grading 241 g/t silver, 0.26 g/t gold, 3.36% lead and 1.03% zinc, containing 96 million oz silver, 105 thousand oz gold, 414 thousand tonnes lead and 127 thousand tonnes zinc, a 3% increase in reserve tonnes. Measured and Indicated Resources total 18.7 million tonnes at 242 g/t silver. Life of mine extends to 2037, with output rising from about 650,000 tpa to roughly 950,000 tpa by 2026, and the DCG mine reporting reserves for the first time.
Resource update