(Kitco News) - China-focused miner Silvercorp Metals (TSX: SVM) announced today that in Q2 2022 (the company’s fiscal Q1 2023), it produced and sold approximately 1.9 million ounces of silver, which is 26% higher than a year before.
The company also produced 1,100 ounces of gold, 19.1 million pounds of lead, and 6.9 million pounds of zinc in Q2 2022, representing production increases of 10% and 20%, respectively, in gold and lead production, and a decrease of 4% in zinc production over Q2 2021 (fiscal Q1 2022).
Silvercorp also noted that the company is on track to produce 7.0 million to 7.3 million ounces of silver, 6,300 to 7,900 ounces of gold, 68.4 million to 71.3 million pounds of lead, and 32.0 million to 34.5 million pounds of zinc in its fiscal 2023.
The company added that at the Ying Mining District, approximately 1.7 million ounces of silver, 1,100 ounces of gold, 16.7 million pounds of lead, and 1.9 million pounds of zinc were produced in Q2 2022, representing increases of 32%, 10%, 26%, and 27%, respectively, in silver, gold, lead, and zinc over Q2 2021.
At the GC Mine, approximately 164 thousand ounces of silver, 2.4 million pounds of lead, and 5.0 million pounds of zinc were produced in Q2 2022, representing decreases of 14%, 9% and 12%, respectively, over Q2 2021.
Silvercorp is a Canadian company operating several profitable silver mines in China. Silvercorp first entered China in 2003 to capitalize on the country's underexplored geological potential. Since production began in 2006, the company’s mines have produced 81 million ounces of silver and 1.1 billion pounds of lead & zinc.
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