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VANCOUVER - Silvercorp Metals Inc. (TSX:SVM) (NYSE American:SVM), a profitable mining company with a strong financial health score according to InvestingPro, announced Thursday it has filed an updated mineral resource estimate for its Condor gold project in Ecuador. The company, currently trading near $4.24, has delivered impressive returns with a 41.74% gain year-to-date.
The technical report, titled "Independent Technical Report for the Condor Project, Ecuador," was prepared by SRK Consulting (Canada) Inc. and has an effective date of February 28, 2025.
According to the company, there are no material differences between the information contained in the technical report and what was previously disclosed in its May 12 news release.
The report was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects and is now available on the company’s website and regulatory filing systems.
Silvercorp noted that the Condor Project is not currently considered a material property for the company, and the mineral resource estimate was filed voluntarily.
The technical report can be accessed through the company’s website, SEDAR+, and EDGAR.
Silvercorp Metals is a Canadian mining company that produces silver, gold, lead, and zinc. The company’s announcement was made through a press release statement.
In other recent news, Silvercorp Metals Inc. reported its fourth-quarter earnings for fiscal year 2025, showcasing a 76% year-over-year increase in revenue to $75 million. The company’s adjusted net income stood at $14.7 million, or $0.07 per share, aligning with market forecasts. Despite these figures, the company recorded a net loss of $7.6 million, attributed primarily to a non-cash charge related to derivative liabilities. Silvercorp’s full-year revenue reached $299 million, marking a 39% increase from the previous year, with a full-year attributable net income of $58 million, or $0.29 per share. The company also declared a semi-annual dividend of US$0.0125 per share, maintaining its tradition of returning value to shareholders. Looking forward, Silvercorp projects a production target of 7.4 to 7.6 million ounces of silver and plans significant investments in projects like the El Domo project. The company has budgeted $25 million for ramp and tunnel development at the Ying mine and $241 million for the El Domo project in Ecuador. These developments highlight Silvercorp’s ongoing commitment to growth and expansion in the mining sector.
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