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VANCOUVER, BC, July 14, 2022 /PRNewswire/ – Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX:SVM) (NYSE:SVM) reports production and sales figures for the first quarter of fiscal year 2023 ended June 30, 2022 (“Q1 Fiscal 2023”). The Company expects to release its Q1 Fiscal 2023 unaudited financial results on Thursday, August 11, 2022 after market close.
In Q1 Fiscal 2023, the Company produced and 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, representing production increases of 26%, 10% and 20%, respectively, in silver, gold and lead production, and a decrease of 4% in zinc production over the first quarter of fiscal 2022 (“Q1 Fiscal 2022”). The Company is on track to produce 7.0 million to 7.3 million ounces of silver, 6,300 to 7,900 ounces of gold, 68.4 million to 71.3 million pounds of lead, and 32.0 million to 34.5 million pounds of zinc in Fiscal 2023.
- On a consolidated basis, 300,104 tonnes of ore were mined, up 30% over Q1 Fiscal 2022, and 298,176 tonnes of ore were milled, up 23% over Q1 Fiscal 2022.
- On a consolidated basis, sales increased by 17%, 10%, and 14%, respectively, for silver, lead, gold, and decreased 5% for zinc in Q1 Fiscal 2022.
- At the Ying Mining District, 214,038 tonnes of ore were mined, up 50% over Q1 Fiscal 2022, and 212,055 tonnes of ore were milled, up 36% over Q1 Fiscal 2022. Approximately 1.7 million ounces of silver, 1,100 ounces of gold, 16.7 million pounds of lead, and 1.9 million pounds of zinc were produced, representing increases of 32%, 10%, 26%, and 27%, respectively, in silver, gold, lead, and zinc over Q1 Fiscal 2022.
- At the GC Mine, 86,066 tonnes of ore were mined, down 3% over Q1 Fiscal 2022, and 86,121 tonnes of ore were milled, down 2% compared to Q1 Fiscal 2022. Approximately 164 thousand ounces of silver, 2.4 million pounds of lead, and 5.0 million pounds of zinc were produced, representing decreases of 14%, 9% and 12%, respectively, over Q1 Fiscal 2022.
Full story available on Benzinga.com
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