 | Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day's top stories directly to your inbox. Sign up here! |
(Kitco News) - China-focused Canadian mining company Silvercorp Metals (TSX: SVM) yesterday reported production figures for the first quarter of its fiscal year 2024 ended June 30, 2023 (June quarter 2023).
In June quarter 2023, the company produced 1,552 ounces of gold (41% increase over June quarter 2022), 1.8 million ounces of silver (4% decrease over June quarter 2022), 17.8 million pounds of zinc (7% decrease over June quarter 2022), and 6.8 million pounds of lead (2% decrease over June quarter 2022).
The company said that lower silver and lead production is primarily due to a decrease in head grades at the Ying Mining District in line with the planned mining sequences and mineral reserves.
Importantly, Silvercorp noted it reiterates its fiscal 2024 production guidance of approximately 6.8 to 7.2 million ounces of silver, 4,400 to 5,500 ounces of gold, 70.5 to 73.8 million pounds of lead, and 27.7 to 29.7 million pounds of zinc.
Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc from silver mines in China. The company has measured and indicated silver resources of 210.2 million ounces, including proven and probable reserves of 114.9 million ounces, plus inferred resources of 126.3 million ounces.
|
| South Africa's mining sector contracts in May y-o-y; mineral sales down 11.8% |
