Business
SILVERCORP REPORTS ADJUSTED NET INCOME OF $6.7 MILLION, $0.04 PER SHARE, AND CASH FLOW FROM OPERATIONS OF $14.1 MILLION FOR Q2 FISCAL 2023
SILVERCORP REPORTS ADJUSTED NET INCOME OF $6.7 MILLION, $0.04 PER SHARE, AND CASH FLOW FR...
About this update from Silvercorp Metals Inc.
[{"type":"text","content":"\n \n \n \n SILVERCORP REPORTS ADJUSTED NET INCOME OF $6.7 MILLION, $0.04 PER SHARE, AND CASH FLOW FROM OPERATIONS OF $14.1 MILLION FOR Q2 FISCAL 2023\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Nov. 3, 2022\n \n \n /CNW/ -\n \n Silvercorp Metals Inc.\n \n (\"Silvercorp\" or the \"Company\") (TSX: SVM) (NYSE American: SVM) reported its financial and operating results for the three months ended\n \n September 30, 2022\n \n (\"Q2 Fiscal 2023\"). All amounts are expressed in US dollars, and figures may not add due to rounding.\n \n \n \n HIGHLIGHTS FOR Q2 FISCAL 2023\n \n \n \n \n Mined 290,981 tonnes of ore, milled 291,643 tonnes of ore, and produced approximately 1.8 million ounces of silver, 1,200 ounces of gold, 18.0 million pounds of lead, and 6.0 million pounds of zinc;\n \n \n \n \n Sold approximately 1.8 million ounces of silver, 1,200 ounces of gold, 17.3 million pounds of lead, and 5.9 million pounds of zinc, for revenue of\n \n $51.7 million\n \n ;\n \n \n \n \n Realized adjusted earnings attributable to equity shareholders of\n \n $6.8 million\n \n , or\n \n $0.04\n \n per share. The adjustments were made to remove impacts from impairment charges, share-based compensation, foreign exchange, mark-to-market equity investments, and the share of associates' operating results;\n \n \n \n \n Reported net loss attributable to equity shareholders of\n \n $1.7 million\n \n , or\n \n $0.01\n \n per share, with the loss mainly due to an impairment charge of\n \n $20.2 million\n \n against the La Yesca Project;\n \n \n \n \n Generated cash flow from operating activities of\n \n $14.1 million\n \n ;\n \n \n \n \n Cash costs per ounce of silver, net of by-product credits, of\n \n $0.77\n \n ;\n \n \n \n \n All-in sustaining costs per ounce of silver, net of by-product credits, of\n \n $8.25\n \n ;\n \n \n \n \n Spent and capitalized\n \n $2.9 million\n \n on exploration drilling,\n \n $9.4 million\n \n on underground development, and\n \n $1.2 million\n \n on construction ...