Silvercorp Metals (TSX:SVM) reports Q1 2023 results

Silvercorp Metals (SVM) reported its financial and operating results for the three months ended June 30, 2022
Revenue of $63.6 million, up 8 per cent from Q1, 2022
Cash flow from operations of $40.2 million, up 10 per cent from Q1, 2022
$215.8 million in cash and cash equivalents and short-term investments
Silvercorp VP Lon Shaver sat down with Sabrina Cuthbert to discuss the results
Silvercorp Metals Inc. (SVM) opened trading at C$3.45

Silvercorp Metals (SVM) reported its financial and operating results for the three months ended June 30, 2022.

Mined 300,104 tonnes of ore and milled 298,176 tonnes of ore, up 30 per cent and 23 per cent compared to the prior year quarter;
Sold approximately 1.9 million ounces of silver, 1,100 ounces of gold, 19.1 million pounds of lead, and 6.9 million pounds of zinc
Revenue of $63.6 million, up 8 per cent compared to $58.8 million in the prior year quarter
Adjusted earnings attributable to equity shareholders of $13.5 million, or $0.08 per share, compared to $15.8 million, or $0.09 per share in the prior year quarter
Cash flow from operations of $40.2 million, up 10 per cent or $3.7 million compared to $36.5 million in the prior year quarter
Spent $3.1 million on exploration drilling, $9.7 million on underground development and $1.2 million on the construction of the new mill
Paid $2.2 million of dividends to the company’s shareholders
Spent $0.9 million to buy back 334,990 common shares of the company under its NCIB, and subsequent to the quarter, bought back further 404,970 common shares for $1.0 million
Strong balance sheet with $215.8 million in cash and cash equivalents and short-term investments, up $2.9 million or 1 per cent compared to $212.9 million as at March 31, 2022

Silvercorp VP Lon Shaver sat down with Sabrina Cuthbert to discuss the results.

Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growth potential.

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