Silvercorp net earnings fall on higher production costs

TSX-listed Silvercorp Metals on Thursday said fourth-quarter profit fell by 19% to $9.7-million quarter-on-quarter, or 6c a share, weighed down by increased production costs despite higher prices achieved. The lower net income was mainly...

Silvercorp to grow production by one-fifth in F2013

Silvercorp Metals, which reported a 30% drop in profit for the three months ended December, on Thursday said silver production in its financial year to March 2013 would climb 20%. Gold output would jump 90% to 18 240 oz, while lead and zinc...

Silvercorp sees profit drop 26%, blames 'short and distort' scheme

Silvercorp Metals, which is suing the anonymous short sellers that accused it of fraud last year, on Wednesday reported a 26% year-on-year drop in proft for the quarter ended December 31, to $27-million, owing to lower production and a higher tax...

Salazar's high-grade copper-zinc project attracts Lundin, Silvercorp

Toronto-based Lundin Mining has bought a 15.4% stake in Salazar Resources, which owns copper-zinc properties in Ecuador, after taking up over 80% of the units on offer in a $3-million equity financing. Silvercorp, the Vancouver-domiciled,...

Silvercorp adds names to its US lawsuit

Silvercorp Metals, which anonymous attackers accused of fraud last year, on Monday said it had made significant headway in its investigation as to who was behind the reports, adding EOS Holdings, Jon Carnes, Zane Heilig, Andrew Wong and the...

Silvercorp hires well-known consultants to confirm resources

Silvercorp Metals, the China-focused miner attacked by short sellers earlier this year, said late on Thursday it is hiring two “brand name” geological consultants to confirm the resources at its operations. The company became the target of at...

Silvercorp boosts dividend 25%, pays $2.5m to fight fraud claims

Silvercorp, which owns mines in China, said on Wednesday it has spent around $2.5-million fighting anonymous fraud allegations so far, also announcing a 25% dividend hike to C$0.02 a share. The company earlier said revenue for the quarter ended...

Management focus to return to mining: Silvercorp's Feng

Silvercorp Metals chairperson and CEO Rui Feng on Tuesday said the company had “gone above and beyond all reasonable efforts” to defend itself against nameless fraud accusers, who he reiterated were part for a “short and distort” share...

Silvercorp to reward shareholders with any damages from NY lawsuit

Silvercorp Metals, suing its anonymous fraud accusers in a New York County Supreme Court suit, will return any damages it wins to shareholders, chairperson and CEO Rui Feng said on Friday. "The money we can claim back, we will just give to all...

Silvercorp buys another $4m of its shares

Fraud-accused Silvercorp Metals has bought around another $4-million worth of its own shares, as short seller attacks refuse to abate. The firm, which says it is China’s biggest primary silver miner, has acquired a total 4.47-million shares...

Under attack again

The American author Mark Twain once said “Reputation is a hall-mark: it can remove doubt from pure silver, and it can also make the plated article pass for pure.” And China-focused Silvercorp’s reputation has come under further strain after...

Anonymous Silvercorp report authors say will cooperate with regulator

As the war of words deepened between TSX- and NYSE-listed Silvercorp and a website that again published allegations about the company, investigators that compiled the Alfredlittle.com report claimed on Monday they had offered “full...