https://www.miningweekly.com

Upbeat Silvercorp reinstates dividend

5th November 2016

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

VANCOUVER (miningweekly.com) – China-focused primary silver miner Silvercorp Metals has reinstated its twice-yearly dividend of C$0.01 a share on the back of significantly improved second-quarter performance metrics for the fiscal year, the company announced Friday.

Vancouver-based Silvercorp, which has several producing low-cost mines in China, suspended dividends in August 2015 as a result of lower silver prices and to preserve capital.

Silvercorp on Thursday reported net income attributable to equity shareholders for the quarter ended September 30 of $12.4-million, or $0.07 a share, up 454% year-on-year compared with net earnings of $2.2-million, or $0.01 a share, in the comparable period a year earlier.

Revenues totalled $46.3-million, up 70% year-on-year, as the company benefited from increased head grades and significantly reduced costs.

All-in sustaining costs fell to $3.16/oz of silver, net of by-product credits, from $12.40/oz a year earlier.

Year-on-year silver, lead and zinc sales rose 44%, 51% and 27%, respectively, to about 1.8-million ounces of silver, 19.9-million pounds of lead, and 5.9-million pounds of zinc.

Improved commodity prices also boosted the outlook, with the company reporting a 27% year-on-year improvement in the realised selling price for silver, 3% for lead and 22% for zinc.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Advanced Fire Suppression Technologies
Advanced Fire Suppression Technologies

Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...

VISIT SHOWROOM 
Bell Equipment
Bell Equipment

As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.041 0.714s - 110pq - 2rq
Subscribe Now