Silvercorp Metals Revenue Drops 13% Amid Production Decline
The company reported revenue of $72.1 million for the second quarter ended September 30, 2026
Silvercorp Metals Inc. (SVM), a precious metals producer, reported revenue of $72.1 million for the second quarter ended September 30, 2026. This figure represents a 13% decrease over the same quarter last year.
The company processed 213,320 tonnes of ore at the Ying Mining District during the period. This resulted in the production of 0.9 million ounces of silver, 1,371 ounces of gold, 7.6 million pounds of lead, and 0.7 million pounds of zinc. These volumes represented decreases of 41% for silver, 34% for gold, 41% for lead, and 51% for zinc compared to the second quarter of fiscal 2026. Silver equivalent production fell 42% to 1.0 million ounces. Silvercorp said these results aligned with a 40-50% impact previously disclosed on June 29, 2026.
Lower production volumes were partially offset by higher realized metal prices. The average realized silver price rose 82% to $61.83 per ounce, and the gold price rose 32% to $3,955 per ounce.
Operational activity at the Ying Mining District resumed and ended the quarter at a 90% operating rate. The company spent approximately $13.4 million in the second quarter on safety improvement works. These works included equipment upgrades, tunnel enlargement and support, and the replacement of flame-retardant power cables with halogen-free versions. Government inspectors approved the resumption of operations following the completion of these works.
Silvercorp is currently seeking permits for environment, safety, and land to construct waste rock dumps at the Ying Mining District. The company said these dumps are necessary to accommodate material from tunneling because the aggregate plant cannot process and sell all the waste rock.
Construction of the No. 3 mill at the Ying Mining District is advancing as planned. The company has completed and delivered most drawings to the construction team and established foundations for the machine shop. The GC Mine remains under suspension while the company awaits additional work and approval for a new mine development design.
Silvercorp Metals Acquires Kyrgyz Gold Projects as Net Income Drops
Crown's Segment Profit Growth Reversed Under Cost Pressure