Silvercorp tops full-year output guidance despite China suspension

May 22, 2020 10:33 AM ETSilvercorp Metals Inc. (SVM), SVM:CASVMBy: Carl Surran, SA News Editor4 Comments
  • Silvercorp Metals (SVM +1.4%) rises after reporting better than expected FQ4 earnings and saying it surpassed full-year production targets despite the extended coronavirus shutdown.
  • Silvercorp says silver, lead and zinc production beat its guidance for the fiscal year ending March by 3%, 3% and 17%, respectively, even as operations in China were suspended for six weeks during the quarter, although the amount of ore mined overall fell 2% to 885.8K mt compared to the prior year.
  • All-in sustaining costs for silver for the full year, net of by-product credits, were $6.86/oz., compared to $3.52/oz. in the prior year.
  • Cash flow from operations for the year was $77.2M, up from $70.4M for the previous year, and cash holdings totaled $142.5M vs. $115.3M at the end of FY 2019.
  • Q4 sales volumes totaled 800K silver oz., at all-in sustained costs of $15.17/oz. vs. $4.49/oz. in the previous quarter; ore mined during the quarter fell 34% Q/Q to 106.6K metric tons.

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