VANCOUVER, British Columbia � November 9, 2009 � Silvercorp Metals Inc. (�Silvercorp� or the �Company�) reports its unaudited financial and operating results for the second quarter ended September 30, 2009. The financial results are expressed in thousands of US dollars (US$) unless stated otherwise.
SECOND QUARTER HIGHLIGHTS
During the quarter ended September 30, 2009 (�Q2 2010�), financial highlights included:
- Net earnings of $8.9 million, 83% higher compared to $4.9 million in the same quarter last year;
- Earnings per share of $0.06, double the earnings per share of $0.03 in the same quarter last year;
- Production of 1.2 million ounces of silver and 15.2 million pounds of lead, representing 35% and 43% increases, respectively, compared to 0.8 million ounces of silver and 10.7 million pounds of lead produced in the same quarter last year;
- Total production cost of negative $5.61 per ounce of silver and cash cost of negative $6.33 per ounce of silver, net credit of other metals, making Silvercorp an industry leading low-cost silver producer;
- Generated $15.9 million cash from operating activities or $0.10 per share; and,
- Total cash, cash equivalents and short term investments increased to $79.0 million.
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PRODUCER |
CODE : SVM.TO |
ISIN : CA82835P1036 |
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Silvercorp Metals is a silver producing company based in Canada. Silvercorp Metals produces silver, gold, lead and zinc in China, develops gold, lead, silver and zinc in China, and holds various exploration projects in Canada. Its main assets in production are YING MINE, BYP, HPG MINE, TLP MINE and XBG in China, its main assets in development are LM MINE, GAOCHENG (GC) and SHIMENTOU (SMT) in China and its main exploration properties are NA BAO and GC in China and SILVERTIP in Canada. Silvercorp Metals is listed in Canada, in Germany and in United States of America. Its market capitalisation is 314.5 millions as of today (US$ 228.9 millions, € 209.2 millions). Its stock quote reached its lowest recent point on December 21, 2001 at 0.02, and its highest recent level on October 02, 2020 at 9.97. Silvercorp Metals has 47 442 200 shares outstanding. |