Silvercorp Metals Inc
TSX:SVM
Silvercorp Metals Inc
Silvercorp Metals, Inc. is a mining company. The company is headquartered in Vancouver, British Columbia and currently employs 1,289 full-time employees. The firm along with its subsidiaries is engaged in acquisition, exploration, development, and mining of mineral properties. Silvercorp operates several silver-lead-zinc mines, including Ying Mining District in Henan Province, China, Gaocheng (GC) silver-lead-zinc mine in Guangdong Province, China and BYP Gold-Lead-Zinc mine in Hunan Province. The Ying Mining District consists of several mines, including the SGX mine, HZG mine, TLP mine, HPG mine, LMW mine, LME mine and DCG mine. The Ying Property is approximately 240 kilometers (km) west-southwest of Zhengzhou, the capital city of Henan Province, and approximately 145 km southwest of Luoyang. The GC mine is located approximately 200 kilometers west of Guangzhou City, Guangdong Province, southern China, the permit covers an area of approximately 5.5 km2. The BYP Mine is located in Hunan Province.
Silvercorp Metals, Inc. is a mining company. The company is headquartered in Vancouver, British Columbia and currently employs 1,289 full-time employees. The firm along with its subsidiaries is engaged in acquisition, exploration, development, and mining of mineral properties. Silvercorp operates several silver-lead-zinc mines, including Ying Mining District in Henan Province, China, Gaocheng (GC) silver-lead-zinc mine in Guangdong Province, China and BYP Gold-Lead-Zinc mine in Hunan Province. The Ying Mining District consists of several mines, including the SGX mine, HZG mine, TLP mine, HPG mine, LMW mine, LME mine and DCG mine. The Ying Property is approximately 240 kilometers (km) west-southwest of Zhengzhou, the capital city of Henan Province, and approximately 145 km southwest of Luoyang. The GC mine is located approximately 200 kilometers west of Guangzhou City, Guangdong Province, southern China, the permit covers an area of approximately 5.5 km2. The BYP Mine is located in Hunan Province.
Record Revenue: Silvercorp delivered record Q3 revenue of $126 million, up 51% from last year, mainly driven by higher silver prices.
Strong Cash Flow: Cash flow from operations reached $133 million, and free cash flow was $90 million, both substantially higher than last year.
Adjusted Profit Growth: Adjusted net income was $47.9 million, or $0.22 per share, more than doubling year-over-year.
Net Loss on Paper: Reported net loss of $15.8 million due to a large $60 million noncash charge from convertible note derivatives.
Production & Costs: Silver production was 1.9 million ounces, with strong cost performance at Ying mine; cash cost per silver ounce was negative $1.22.
Guidance Unchanged: No changes to production guidance, but reaching even the lower end may be challenging due to earlier operational issues.
Strategic Moves: Announced acquisition of Kyrgyzstan gold projects, expanding global presence.
