Silvercorp Metals SVM

Silvercorp Metals Inc. is a Canadian mining company engaged in the exploration, development, and production of silver, gold, lead, zinc and other metals. The company's primary operations are located in China where it runs several silver, lead, zinc mines in the Ying Mining District of Henan Province and the GC silver, lead, zinc mine in Guangdong Province. Silvercorp's strategy centers on generating free cash flow from long life mines, expanding reserves through extensive drilling, pursuing mergers and acquisitions to unlock value, and maintaining a strong commitment to responsible mining and environmental, social, and governance practices.

Silvercorp generates revenue by selling its metal concentrates to local smelters and companies involved in the mineral products trading business. Its principal products are silver, gold, lead, and zinc concentrates. In fiscal 2025 the company reported revenue of $298.9 million derived primarily from the sale of silver, lead, and zinc concentrates with smaller contributions from gold production.

The company operates through the following segments:

• Ying Mining District: This segment comprises multiple silver, lead, zinc mines in Henan Province that process ore to produce gold, silver, lead, and zinc concentrates. In fiscal 2025 the district processed approximately 1,031,000 to 1,057,000 tonnes of ore and yielded about 9,100 to 10,400 ounces of gold, 6.800 to 7.000 million ounces of silver, 58.800 to 60.300 million pounds of lead, and 11.800 to 12.200 million pounds of zinc.

• GC Mine: This segment operates the silver, lead, zinc mine in Guangdong Province processing ore to produce silver, lead, and zinc concentrates. In fiscal 2025 the GC Mine processed about 300,000 to 312,000 tonnes of ore and produced roughly 0.580 to 0.600 million ounces of silver, 6.400 to 6.600 million pounds of lead, and 17.500 to 18.100 million pounds of zinc.

Silvercorp holds a competitive position in the global mining industry due to its high grade ore bodies, relatively low production costs in China, and proximity to domestic smelters, which together support strong margins. The company competes with numerous larger and similarly sized mining firms that possess greater financial and technical resources, but its advantage lies in the quality of its concentrates and its ability to operate at lower cash costs than many international peers.

Silvercorp's customer base consists mainly of local smelters and mineral products trading companies in China that purchase its metal concentrates for further refining.