- 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.