Silvercorp Metals Inc. (TSX: SVM) (NYSE: SVM) has reported its production and sales figures for the third quarter of fiscal 2023, which ended on December 31, 2022. The company produced approximately 1.9 million ounces of silver, 1,100 ounces of gold, 20.1 million pounds of lead, and 7.0 million pounds of zinc in Q3 Fiscal 2023. This represents a 1% increase in silver, no change in gold, a 6% increase in the lead, and a 13% decrease in zinc compared to the third quarter of fiscal 2022. For the first nine months of fiscal 2023, the company produced approximately 5.5 million ounces of silver, 3,400 ounces of gold, 57.1 million pounds of lead, and 19.9 million pounds of zinc, representing increases of 10%, 17%, and 9%, respectively, in silver, gold, and lead, and a decrease of 12% in zinc compared to the same period in the prior year. In terms of operating highlights, the company mined and milled roughly the same amount of ore as in Q3 fiscal 2022 and sold approximately 1.9 million ounces of silver, 1,100 ounces of gold, 19.3 million pounds of lead, and 7.1 million pounds of zinc. At the Ying Mining District, ore mining and milling were up 3% and down 1%, respectively, compared to Q3 fiscal 2022, and at the GC mine, ore mining was down 2%, and ore milling was the same as Q3 fiscal 2022. Overall, production at both mines decreased compared to Q3 fiscal 2022 but increased compared to last quarter.
Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growth potential. The Company’s strategy is to create shareholder value by 1) focusing on generating free cash flow from long-life mines; 2) organic growth through extensive drilling for discovery; 3) ongoing merger and acquisition efforts to unlock value; and 4) long-term commitment to responsible mining and ESG. For more information, please visit our website at www.silvercorp.ca.