Business
Silvercorp Metals Reports Operational Results and Financial Results Release Date for First Quarter Of Fiscal 2024
VANCOUVER, BC, July 13, 2023 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) reports production and sales figures
About this update from Silvercorp Metals Inc.
[{"type":"text","content":" VANCOUVER, BC, July 13, 2023 /CNW/ - Silvercorp Metals Inc. (\"Silvercorp\" or the \"Company\") (TSX: SVM) (NYSE American: SVM) reports production and sales figures for the first quarter of fiscal year 2024 ended June 30, 2023 (\"Q1 Fiscal 2024\"). The Company expects to release its Q1 Fiscal 2024 unaudited financial results on Thursday, August 3, 2023 after market close. Production highlights Gold and silver production are on track to achieve Fiscal 2024 annual guidance; Silver equivalent (including silver and gold)1 production of approximately 1.9 million ounces, effectively the same as Q1 Fiscal 2023; Gold production of 1,552 ounces; 41% increase over Q1 Fiscal 2023; Silver production of approximately 1.8 million ounces; 4% decrease over Q1 Fiscal 2023; and Zinc and lead production of approximately 17.8 million pounds and 6.8 million pounds; 7% and 2% decreases, respectively, over Q1 Fiscal 2023. The lower silver and lead production is primarily due to a decrease in head grades at the Ying Mining District in line with the planned mining sequences and Mineral Reserves. The Company reiterates its Fiscal 2024 production guidance of approximately 6.8 to 7.2 million ounces of silver, 4,400 to 5,500 ounces of gold, 70.5 to 73.8 million pounds of lead, and 27.7 to 29.7 million pounds of zinc. 1 Silver equivalent is calculated by converting the gold metal quantity to its silver equivalent using the ratio of 1:84, and then adding the converted amount expressed in silver ounces to the ounces of silver. First Quarter Fiscal 2024 Consolidated Operating Highlights First Quarter Fiscal 2024 First Quarter Fiscal 2023 Ying Mining District GC Consolidated Ying Mining District GC Consolidated Production Data Ore Mined (tonne) 213,748 89,472 303,220 214,038 86,066 300,104 Ore Milled (tonne) 208,809 86,286 295,095 212,055 86,121 298,176 Head Grades ...