Silvercorp Metals revenue rises 70% in first quarter
The mining company reported revenue of $138.7 million for the quarter ended June 30, 2026
Silvercorp Metals Inc. (SVM), a precious metals producer, reported revenue of $138.7 million for the first quarter ended June 30, 2026. This figure represents an increase of 70% over the same quarter in the previous fiscal year.
Metals production declined during the period as the company voluntarily suspended operations starting in mid-June. Silvercorp said it took this action to conduct self-reviews and complete underground upgrades to the "Six Major Safety Systems" to comply with new Chinese government regulations.
Silver production fell 17% over the prior-year quarter to 1.5 million ounces. Lead and zinc production both decreased 15% to 13.4 million pounds and 4.4 million pounds, respectively. Silver equivalent 1 production dropped 15% to 1.7 million ounces. Gold production rose 24% to 2,536 ounces.
Development continued at several sites. The company completed 86,104 metres of drilling and 18,749 metres of exploration tunneling at the GC Mine and the Ying Mining District. Construction began on the No. 3 mill at the Ying Mining District, with work currently focused on the elevated water tank and foundation treatment.
At the Kuanping mine, the company completed 3,716 metres of drilling, 886 metres of exploration tunneling, and 2,155 metres of ramp development. Construction at the El Domo mine progressed with 604,600 cubic metres of earthworks excavation and fill. Silvercorp said it commenced open-pit pre-stripping and procured major equipment for the water treatment station and processing plant.
Silvercorp expects to release its unaudited interim financial results for the quarter on August 10, 2026.