Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Silvercorp Metals (SVM) reported its financial and operating results for the three months ended June 30, 2022
  • Revenue of $63.6 million, up 8 per cent from Q1, 2022
  • Cash flow from operations of $40.2 million, up 10 per cent from Q1, 2022
  • $215.8 million in cash and cash equivalents and short-term investments
  • Silvercorp VP Lon Shaver sat down with Sabrina Cuthbert to discuss the results
  • Silvercorp Metals Inc. (SVM) opened trading at C$3.45

Silvercorp Metals (SVM) reported its financial and operating results for the three months ended June 30, 2022.

 Highlights:

  • Mined 300,104 tonnes of ore and milled 298,176 tonnes of ore, up 30 per cent and 23 per cent compared to the prior year quarter;
  • Sold approximately 1.9 million ounces of silver, 1,100 ounces of gold, 19.1 million pounds of lead, and 6.9 million pounds of zinc
  • Revenue of $63.6 million, up 8 per cent compared to $58.8 million in the prior year quarter
  • Adjusted earnings attributable to equity shareholders of $13.5 million, or $0.08 per share, compared to $15.8 million, or $0.09 per share in the prior year quarter
  • Cash flow from operations of $40.2 million, up 10 per cent or $3.7 million compared to $36.5 million in the prior year quarter
  • Spent $3.1 million on exploration drilling, $9.7 million on underground development and $1.2 million on the construction of the new mill
  • Paid $2.2 million of dividends to the company’s shareholders
  • Spent $0.9 million to buy back 334,990 common shares of the company under its NCIB, and subsequent to the quarter, bought back further 404,970 common shares for $1.0 million
  • Strong balance sheet with $215.8 million in cash and cash equivalents and short-term investments, up $2.9 million or 1 per cent compared to $212.9 million as at March 31, 2022

Silvercorp VP Lon Shaver sat down with Sabrina Cuthbert to discuss the results.

Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growth potential.

Silvercorp Metals Inc. (SVM) opened trading at C$3.45.


More From The Market Herald
The Market Herald Video

" BioVaxys (CSE:BIOV) expands vaccines intellectual property portfolio

BioVaxys Technology Corp. (BIOV) has broadened patent coverage for its viral vaccine platform.
Copper Mountain Mining Corporation - President & CEO, Gil Clausen.

" Copper Mountain Mining (TSX:CMMC) reports reserve increase

Copper Mountain Mining Corporation (CMMC) has reported an increased MRE with a revised life of mine plan for its Copper Mountain Mine in British

" Rover Metals Corp. (TSXV:ROVR) receives exchange approval for IML critical minerals project acquisition, NT, Canada

Rover Metals (ROVR) has received approval for the Indian Mountain Lake (IML) option-purchase agreement and the included milestone payment.

" Fabled Copper (CSE:FABL) secures underground adits at Muskwa Project

Fabled Copper (FABL) has secured four adit entrances on its Muskwa Copper Project in B.C.