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PR Newswire·

SILVERCORP REPORTS ADJUSTED NET INCOME OF $22.6 MILLION, $0.10 PER SHARE, AND CASH FLOW FROM OPERATING ACTIVITIES OF $39.2 MILLION FOR Q2 FISCAL 2026

SVM
  • Silvercorp Metals reported Q2 Fiscal 2026 results for the three months ended September 30, 2025, with revenue of $83.3 million, a 23% increase year-over-year.
  • The company produced approximately 1.66 million ounces of silver, 2,085 ounces of gold, 1.84 million ounces of silver equivalent, 14.23 million pounds of lead, & 5.64 million pounds of zinc.
  • Metals sold included 1.66 million ounces of silver, 2,033 ounces of gold, 14.75 million pounds of lead, & 5.67 million pounds of zinc.
  • All-in sustaining cost (AISC) per ounce of silver, net of by-product credits, was $13.94, up from $11.66 in the prior year quarter.
  • The company reported a net loss of $11.5 million ($0.05 per share) primarily due to a $53.2 million non-cash mark-to-market charge on convertible notes.
  • Adjusted net income was $22.6 million ($0.10 per share), excluding the convertible note charge, a $21.6 million investment gain, & other one-time items.
  • Adjusted EBITDA attributable to equity shareholders was $38.3 million ($0.18 per share), an increase from $29.3 million in the prior year quarter.
  • Operating cash flow was $39.2 million, generating a free cash flow of $11.4 million.
  • Capital expenditures totaled $26.7 million, with $15.8 million spent on China operations & $10.9 million on Ecuador operations for El Domo & Condor projects.
  • The company ended the quarter with $382.3 million in cash & short-term investments & equity investments valued at $180.2 million.
  • Subsequent to the quarter end, Silvercorp drew down $43.875 million from a $175.5 million stream financing agreement with Wheaton Precious Metals for the El Domo mine.
  • Production at the Ying Mining District increased 1% in silver & 76% in gold, while the GC Mine saw decreases in silver, lead, & zinc due to weather interruptions.
  • El Domo mine construction advanced with 1.29 million cubic metres of material cut for site preparation & the completion of a 481-bed camp.
  • A preliminary economic assessment (PEA) for the Condor Project was initiated in Q2 Fiscal 2026.