Silvercorp Metals : Year End & Q4 MD&A - March 31, 2026

About this update from Silvercorp Metals Inc.

[{"type":"text","content":"\n \n SILVERCORP METALS INC.\n \n \n MANAGEMENT'S DISCUSSION AND ANALYSIS\n \n \n For the year ended March 31, 2026\n \n \n (Expressed in thousands of U.S. dollars, except per share figures or otherwise stated)\n \n \n Table of Contents\n \n 1 Core Business and Strategy\n \n \n 2\n \n \n 2 Fourth Quarter of Fiscal Year 2026 Highlights\n 3\n \n \n 3 Fiscal 2026 Highlights\n \n \n 4\n \n \n 4 Operating Performance\n 4\n \n \n 5 Fiscal 2027 Production, Cash Costs, and Capital Expenditure Guidance\n \n \n 14\n \n \n 6 Acquisition of ZAAV\n 17\n \n \n 7 Investment in Associates\n \n \n 18\n \n \n 8 Overview of Financial Results\n 20\n \n \n 9 Liquidity, Capital Resources, and Contractual Obligations\n \n \n 27\n \n \n 10 Convertible Notes\n 30\n \n \n 11 Environmental Rehabilitation Provision\n \n \n 31\n \n \n 12 Risks and Uncertainties\n 32\n \n \n 13 Off-Balance Sheet Arrangements\n \n \n 53\n \n \n 14 Transactions with Related Parties\n 53\n \n \n 15 Alternative Performance (Non-GAAP) Measures\n \n \n 54\n \n \n 16 Material Accounting Policies, Judgments, and Estimates\n 66\n \n \n 17 Other MD&A Requirements\n \n \n 67\n \n \n 18 Outstanding Share Data\n 67\n \n \n 19 Corporate Governance, Safety, Environmental and Social Responsibility\n \n \n 67\n \n \n 20 Disclosure Controls and Procedures\n 68\n \n \n 21 Management's Report on Internal Control over Financial Reporting\n \n \n 69\n \n \n 22 Changes in Internal Control over Financial Reporting\n 69\n \n \n 23 Directors and Officers\n \n \n 70\n \n \n Technical Information\n \n \n 70\n \n \n Forward Looking Statements\n \n \n 70\n \n This Management's Discussion and Analysis (\"MD&A\") is intended to help the reader understand the significant factors that have affected Silvercorp Metals Inc. and its subsidiaries' (\"Silvercorp\", the \"Company\", \"us\", \"we\" or \"our\") performance and such factors that may affect its future performance. This MD&A should be read in conjunction with the Company's audited consolidated financial statements for the year ended March 31, 2026 and 2025 and the related notes contained therein. The Company reports its financial position, financial performance and cash flows in accordance with the IFRS® Accounting Standards as issued by the International Accounting Standards Board (\"IASB\"). Silvercorp's material accounting policy informat...

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