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Silvercorp Reports Operational Results and the Financial Results Release Date for Fiscal 2021

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Silvercorp Reports Operational Results and the Financial Results Release Date for Fiscal 2021

 

 

 

 

 

 

Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) reports production and sales figures for fiscal year 2021 ended March 31, 2021. The Company’s Fiscal 2021 financial results are expected to be released on Thursday, May 20, 2021 after market close.

 

In Fiscal 2021, the Company produced approximately 6.3 million ounces of silver and 68.4 million pounds of lead, meeting the production guidance of between 6.2 – 6.5 million ounces of silver and 66.1 – 68.5 million pounds of lead. The Company also produced approximately 28.0 million pounds of zinc, beating the guidance to produce between 24.5 – 26.7 million pounds of zinc.

 

FISCAL 2021 OPERATING HIGHLIGHTS 

 

  • At the Ying Mining District, ore mined was 650,025 tonnes, up 8.7% over Fiscal 2020, and ore milled was 651,402 tonnes, up 8.3% over Fiscal 2020. Approximately 5.6 million ounces of silver, 3,500 ounces of gold, 57.9 million pounds of lead, and 6.9 million pounds of zinc were produced, representing increases of 0.4% in silver production, 6.1% in gold production, and 2.6% in lead production, and a decrease of 5.7% in zinc production over Fiscal 2020.
  • At the GC Mine, ore mined was 314,900 tonnes, up 9.5% over Fiscal 2020, and ore milled was 316,179 tonnes, up 8.8% over Fiscal 2020. Approximately 716 thousand ounces of silver, 10.5 million pounds of lead, and 21.1 million pounds of zinc were produced, representing increases of 2.4% in silver production and 15.6% in zinc production, and a decrease of 3.6% in lead production over Fiscal 2020.
  • On a consolidated basis, ore mined was 964,925 tonnes, up 8.9% over Fiscal 2020, with ore milled of 967,582 tonnes, up 8.4% over Fiscal 2020. Approximately 6.3 million ounces of silver, 3,500 ounces of gold, 68.4 million pounds of lead, and 28.0 million pounds of zinc were produced, up 0.6%, 6.1%, 1.6%, and 9.5%, respectively, over Fiscal 2020.
  • On a consolidated basis, Silvercorp sold approximately 6.3 million ounces of silver, 4,700 ounces of gold, 67.1 million pounds of lead, and 27.9 million pounds of zinc, up 0.9%, 42.8%, 2.7%, and 9.9%, respectively, over Fiscal 2020.

 

The operational results for the full year Fiscal 2021 are summarized as follows:

 

 

 Year ended March 31, 2021   Year ended March 31, 2020
Ying Mining
District
GC BYP  Consolidated  Ying Mining
District
GC  Consolidated
 Production Data 
 Ore Mined (tonne)   650,025 314,900 964,925 598,197 287,633 885,830
 Ore Milled (tonne)  651,402 316,179 967,581 601,605 290,610 892,215
 Head Grades 
      Silver (gram/tonne)  290 85 223 309 97 240
      Lead  (%)  4.3 1.7 3.4 4.6 1.9 3.7
      Zinc (%)  0.8 3.4 1.7 0.9 3.3 1.7
 Recovery Rates 
      Silver  (%)   94.2 82.5 92.7 96.0 77.4 93.5
      Lead  (%)  96.0 89.6 95.0 95.9 89.3 94.8
      Zinc (%)  62.4 88.2 80.0 63.2 86.0 77.8
 Sales Data 
 Silver (in thousands of ounces)  5,610 705 6,315 5,558 699 6,257
 Gold  (in thousands of ounces)  3.5 1.2 4.7 3.3 3.3
 Lead (in thousands of pounds)  56,708 10,410 67,118 54,459 10,885 65,344
 Zinc  (in thousands of pounds)  6,968 20,946 27,914 7,264 18,137 25,401
 Metal production 
 Silver (in thousands of ounces)  5,615 716 6,330 5,592 699 6,291
 Gold  (in thousands of ounces)  3.5 3.5 3.3 3.3
 Lead  (in thousands of pounds)  57,886 10,544 68,430 56,436 10,937 67,373
 Zinc   (in thousands of pounds)  6,916 21,096 28,012 7,337 18,244 25,581

 

The operational results for the fourth quarter ended March 31, 2021 (“Q4 Fiscal 2021”) are summarized as follows:

 

 

 Three months ended March 31, 2021   Three months ended March 31, 2021
Ying Mining
District
GC  Consolidated  Ying Mining
District
GC  Consolidated
 Production Data 
 Ore Mined (tonne)   112,561 50,511 163,072 69,379 37,216 106,595
 Ore Milled (tonne)  131,725 48,949 180,674 69,188 33,243 102,431
 Head Grades 
      Silver (gram/tonne)  280 87 228 297 94 231
      Lead  (%)  3.9 1.7 3.3 4.6 1.8 3.7
      Zinc (%)  0.8 3.3 1.5 1.0 3.5 1.8
 Recovery Rates 
      Silver  (%)   93.7 81.9 92.5 95.3 80.7 93.4
      Lead  (%)  95.1 89.7 94.4 95.7 90.4 94.8
      Zinc (%)  65.0 88.2 79.0 67.7 87.7 80.3
 Sales Data 
 Silver (in thousands of ounces)  936 120 1,056 711 89 800
 Gold  (in thousands of ounces)  0.7 0.7 0.5 0.5
 Lead (in thousands of pounds)  9,137 1,739 10,876 8,322 1,332 9,654
 Zinc  (in thousands of pounds)  1,306 3,274 4,580 865 2,194 3,059
 Metal production 
 Silver (in thousands of ounces)  1,083 112 1,195 614 82 696
 Gold (in thousands of ounces)  0.3 0.3 0.2 0.2
 Lead (in thousands of pounds)  10,504 1,652 12,156 6,573 1,199 7,772
 Zinc (in thousands of pounds)  1,496 3,176 4,672 999 2,277 3,276

 

 

Ying Mining District

 

In Q4 Fiscal 2021, ore mined at the Ying Mining District was 112,561 tonnes, an increase of 62%, compared to 69,379 tonnes in the fourth quarter of Fiscal 2020 (“Q4 Fiscal 2020”). Ore milled was 131,725 tonnes, with average head grades of 280 grams per tonne (“g/t”) for silver, 3.9% for lead, and 0.8% for zinc, compared to 69,188 tonnes of ore milled with average head grades of 297 g/t for silver, 4.6% for lead, and 1.0% for zinc in Q4 Fiscal 2020. The Company mined and processed increased ore during the quarter as result of an extra month shutdown due to Covid-19 in Q4 Fiscal 2020. Metals production at the Ying Mining District in Q4 Fiscal 2021 was approximately 1.1 million ounces of silver, 300 ounces of gold, 10.5 million pounds of lead, and 1.5 million pounds of zinc, compared to approximately 0.6 million ounces of silver, 200 ounces of gold, 6.6 million pounds of lead, and 1.0 million pounds of zinc in Q4 Fiscal 2020.

 

In Fiscal 2021, metals production at the Ying Mining District was approximately 5.6 million ounces of silver, 3,500 ounces of gold, 57.9 million pounds of lead and 6.9 million pounds of zinc, compared to approximately 5.6 million ounces of silver, 3,300 ounces of gold, 56.4 million pounds of lead and 7.3 million pounds of zinc in Fiscal 2020. The Ying Mining District met its guidance to produce between 5.6 – 5.8 million ounces of silver and 56.6 – 58.0 million pounds of lead, but was slightly below its guidance to produce between 7.0 – 8.0 million pounds of zinc in Fiscal 2021.

 

GC Mine

 

In Q4 Fiscal 2021, ore mined at the GC Mine was 50,511 tonnes, an increase of 36% compared to 37,216 tonnes in Q4 Fiscal 2020. Ore milled was 48,949 tonnes, with average head grades of 87 g/t for silver, 1.7% for lead, and 3.3% for zinc, compared to 33,243 tonnes of ore milled with average head grades of 94 g/t for silver, 1.8% for lead and 3.5% for zinc in Q4 Fiscal 2020. Metals production at the GC Mine in Q4 Fiscal 2021 was approximately 112 thousand ounces of silver, 1.7 million pounds of lead, and 3.2 million pounds of zinc, compared to approximately 82 thousand ounces of silver, 1.2 million pounds of lead, and 2.3 million pounds of zinc in Q4 Fiscal 2020.

 

In Fiscal 2021, metals production at the GC Mine was approximately 716 thousand ounces of silver, 10.5 million pounds of lead, and 21.1 million pounds of zinc, compared to approximately 699 thousand ounces of silver, 10.9 million pounds of lead, and 18.2 million pounds of zinc in Fiscal 2020. The GC Mine met or surpassed its guidance to produce between 600 – 700 thousand ounces of silver, 9.5 – 10.5 million pounds of lead, and 17.5 – 18.7 million pounds of zinc in Fiscal 2021.

 

About Silvercorp

 

Silvercorp is a profitable Canadian mining company producing silver, lead and zinc metals in concentrates from mines in China.  The Company’s goal is to continuously create healthy returns to shareholders through efficient management, organic growth and the acquisition of profitable projects.  Silvercorp balances profitability, social and environmental relationships, employees’ wellbeing, and sustainable development.

 

Posted April 16, 2021

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