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Silvercorp Metals (NYSE: SVM) +3.3% in trading on Tuesday after reporting higher gold and silver production in the March quarter and anticipating further production growth next year.
Silvercorp (SVM) said its silver-equivalent FQ4 production rose 11% y/y to 1.32 million ounces, including gold production nearly doubled to 1,916 ounces from 1,000 ounces in the year-ago period, while silver production rose to 1.15 million ounces from 1.11 million ounces a year earlier.
Fourth-quarter production in the Ying mining district of China’s Henan province amounted to 1.1 million ounces of silver and 1,916 ounces of gold, with a total of 147,122 tons of ore mined and 180,267 tons milled, respectively up 11% and 38% y/y.
For fiscal 2025 through March 31, Silvercorp (SVM) said it expects to produce 6.8 million-7.2 million ounces of silver and 7.9 thousand-9 thousand ounces of gold, up 9%- 17% for silver production and 8%-23% for gold production, along with 64.2 million-69.3 million pounds of lead and 27.1 million-30.1 million pounds of zinc .