Silvercorp Metals: One Quarter Does Not Make A Trend
- The June quarter provided for some positive results at the Ying mines, although coming from a low base.
- The latest resource and reserve update provided a nasty reduction in grades.
- Care and maintenance at the BYP mine comes as a downside surprise.
- We believe that lower grades are here to stay at the Ying mines, putting a cap on the share price.