Canada's Silvercorp Q2 revenue falls 13% on lower production
SVM•Silvercorp's second-quarter revenue fell 13% year over year to $72.1 million as production declined, though higher silver and gold prices partly offset the drop. The company said the suspended GC Mine is expected to resume production by November 2027, pending regulatory approvals.
1. Production declines
Silvercorp Metals Inc said second-quarter output of silver, gold, lead and zinc fell 34% to 51% year over year because of safety improvement works at the Ying Mining District. Revenue fell 13% to $72.1 million, above the $57.5 million consensus estimate.
2. GC Mine outlook
The company said higher realized silver prices, up 82% year over year, and gold prices, up 32%, partially offset lower production. The GC Mine remains suspended pending regulatory approval, and Silvercorp expects production to resume by November 2027; it does not expect the suspension to materially affect overall operations or financial performance.
