Disseminated on behalf of Silvercorp Metals Inc. (NYSE-A/TSX: SVM) and includes paid advertisement.
- Precious metals producer Silvercorp recently reported one of its strongest quarterly performances from its mines in China and is expanding with development in Ecuador
- Silvercorp is working to expand ore production at its flagship Ying operations, to obtain the permits to boost mine production, and to commission its El Domo mine by the end of next year
Silvercorp Metals (NYSE American/TSX: SVM) is building on a quarter marked by one of its strongest quarterly revenue and higher gold and silver production from its operations in China with new updates on its growing pipeline in Ecuador. Silvercorp’s profitable operations in China are complemented by construction and development-stage projects in Ecuador, aligning with the company’s strategy of diversifying its asset base through disciplined acquisitions and project development.
Rising market prices helped lift Silvercorp’s revenue report for gold by 64% year-over-year in its latest quarterly financial report issued Nov. 6. Silver, the most significant contributor to the company’s revenue stream, was responsible for about 67% of the quarterly net revenue.
“We expect to mine approximately 346,000 tonnes of ore in this current quarter Q3 compared to the 265,000 tonnes mined in Q2,” Silvercorp President Lon Shaver said while discussing the financial report during a conference call with investors Nov. 7 (https://ibn.fm/bTQGf).
“We’re now in the process of applying to increase the TLP-LM mining permit to 600,000 tonnes per year with approval expected later this quarter,” he added in regard to the company’s flagship Ying mine complex in China. “Once all approvals are in place, Ying’s total permitted annual mining capacity will rise to 1.32 million tonnes from approximately 1 million tonnes currently.”
Silvercorp also reported a 249% increase in the amount of material it’s moving for site preparation, roads and channel construction at the El Domo mine in Ecuador. The project is expected to begin production by the end of 2026 with an open pit, taking advantage of a flat-lying deposit that begins just 30 meters from surface (https://ibn.fm/FcFgW).
Once in production, El Domo is expected to increase Silvercorp’s revenue by at least 50%, with a significant contributions from copper and gold (https://ibn.fm/V0tFX). Silvercorp is also working to develop the Condor Gold project in Ecuador, seeking licensing and permits to access Condor’s underground deposits for detailed drilling.
For more information, visit the company’s website at https://silvercorpmetals.com/welcome.
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