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Silvercorp Metals Reports Operational Results and the Financial Results Release Date for the Third Quarter of Fiscal 2021
VANCOUVER, British Columbia, Jan. 15, 2021 (GLOBE NEWSWIRE) -- Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX/NYSE American: SVM) reports productio
About this update from Silvercorp Metals Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 15, 2021 (GLOBE NEWSWIRE) -- Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX/NYSE American: SVM) reports production and sales figures for the third quarter of Fiscal 2021 ended December 31, 2020 (“Q3 Fiscal 2021”). The Company produced approximately 1.7 million ounces of silver, 900 ounces of gold, 17.1 million pounds of lead, and 8.7 million pounds of zinc, and sold approximately 1.6 million ounces of silver, 800 ounces of gold, 16.8 million pounds of lead, and 9.0 million pounds of zinc in Q3 Fiscal 2021. For the first nine months of Fiscal 2021, the Company produced approximately 5.1 million ounces of silver, 3,200 ounces of gold, 56.3 million pounds of lead, and 23.3 million pounds of zinc. The Company is on track to produce between 6.2 – 6.5 million ounces of silver, 66.1 – 68.5 million pounds of lead, and 24.5 – 26.7 million pounds of zinc in Fiscal 2021, in line with the annual production guidance previously reported in the Company’s news release dated February 6, 2020. The Company will report its unaudited financial and operating results for Q3 Fiscal 2021, expected to be released on Thursday, February 4, 2021 after market close. Q3 FISCAL 2021 OPERATING HIGHLIGHTS At the Ying Mining District, the Company mined 182,268 tonnes of ore, a 3% increase compared to the third quarter of Fiscal 2020 (“Q3 Fiscal 2020”), and milled 162,905 tonnes of ore, down 7% over Q3 Fiscal 2020. This decrease was caused by power rationing in December 2020 as the local government is subject to an annual environmental emissions KPI assessment. Approximately 1.5 million ounces of silver, 900 ounces of gold, 14.4 million pounds of lead, and 1.9 million pounds of zinc were produced, representing a 7% increase in gold production, and decreases of 6% in silver, 13% in lead, and 25% in zinc production compared to Q3 Fiscal 2020. At the GC Mine, the Company mined 97,177 tonnes of ore, a 12% increase over Q3 Fiscal 2020, and milled 97,743 tonnes of ore, a 9% increase over Q3 Fiscal 2020. Approximately 212 thousand ounces of silver, 2.8 million pounds of lead, and 6.8 million pounds of zinc were produced, representing a 23% increase in zinc production, and decreases of 2% in silver and 21% in lead production compared to Q3 Fiscal 2020. On a consolidated basis, the Company ...