Silvercorp Produces 1.8 Million Silver Ounces In Fiscal Q3 2022

Silvercorp Metals Inc. (TSX: SVM) announced on Thursday the company’s operational results for its fiscal third quarter ending December 31, 2021. The results came from the company’s China-based operations at Ying mining district and GC mine.

The firm produced a total of 1.8 million silver ounces for the quarter, up from 1.7 million ounces both in Q2 2022 and Q3 2021. Ying mining district contributed 1.6 million ounces while GC mine produced the remaining 0.2 million ounces.

The silver mining company also produced 1,100 gold ounces, 19.0 million lead pounds, and 8.0 million zinc pounds — all increases from last quarter’s 800 gold ounces, 17.6 million lead pounds, and 7.5 million zinc pounds; and last year’s 900 gold ounces, 17.1 million lead pounds, and 8.7 million zinc pounds

During the quarter, the firm was also able to sell 1.7 million silver ounces, virtually unchanged from last quarter’s 1.7 million ounces and last year’s 1.6 million ounces.

Silvercorp also mined 292,072 tonnes and milled 304,772 tonnes of ore for the quarter, compared to last quarter’s 292,468 tonnes of ore mined and 271,816 of ore milled, and last year’s 279,445 tonnes of ore mined and 260,648 tonnes of ore milled.

The firm also saw metal head grades fall in Q3 2022: 205 g/t silver, 3.1% lead, and 1.5% zinc from Q2 2022’s 214 g/t silver, 3.2% lead, and 1.6% zinc, and Q3 2021’s 216 g/t silver, 3.2% lead, and 1.8% zinc.

The Canadian mining company said that it targets to release its detailed Q3 2022 financials and full-year production guidance for the fiscal year 2023 on February 8, 2022.

Silvercorp Metals Inc. last traded at $4.55 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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