Canada's Silvercorp Metals Q2 revenue drops 13% on lower output
SVM•Silvercorp Metals' fiscal second-quarter revenue fell 13% year over year as lower metal production outweighed higher realized silver and gold prices. Adjusted net income was $18.35 million and net income was $5.32 million.
1. Lower production weighs
Fiscal second-quarter revenue fell 13% year over year, and adjusted net income and earnings per share also declined. The company said safety work at the Ying Mining District and the suspension of GC Mine operations reduced production and revenue; higher realized silver and gold prices partly offset the declines. Cash flow from operations rose, aided by a Wheaton draw-down.
2. Mine plans
Silvercorp targets resuming production at GC Mine in November 2027, pending regulatory approvals and construction, and expects El Domo mine production to begin that month, subject to further delays. It continues operating in the Ying Mining District while updating production safety permits for an expansion.
