Company warns Q2 production could fall 40% to 50% after voluntary safety suspension in China
Silvercorp targets commissioning of El Domo mine by July 2027
Overview
Canada mining firm's Q1 fiscal revenue up 70% yr/yr, driven by higher silver prices
Adjusted net income and EPS rose sharply yr/yr
Company suspended China operations mid-June for safety upgrades, Q2 output expected to drop
Key details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
$0.24
$0.25 (2 Analysts)
Q1 Adjusted Net Income
$53.93 mln
Q1 Net Income
$59.38 mln
Result drivers
Higher silver prices - Co said 135% increase in average realized silver price drove 70% revenue growth, with silver accounting for 77% of Q1 revenue
Lower production output - Co attributed declines in silver, lead, and zinc production to lower head grades, mining dilution, and mid-June suspension for safety upgrades
Higher unit costs and taxes - Co said all-in sustaining cost per ounce of silver rose 36% due to higher government taxes linked to increased revenue and less metals produced and sold
