SVM · Silvercorp Metals Inc.

Silvercorp Metals Inc. reported operational results for the fourth quarter and full fiscal year 2026, highlighted by record annual revenue of $438.1 million, representing a 47% increase over the prior year. This revenue growth occurred despite mixed production performance, with silver production decreasing 2% to 6.8 million ounces while gold production increased 16% to 8,723 ounces for the full year. The company processed 1,475,512 tonnes of ore, exceeding the high end of its annual guidance. For the fourth quarter, revenue reached approximately $147.4 million, a 96% increase year-over-year, though metal production declined across silver, lead, and zinc due to lower head grades associated with increased shrinkage mining. The company issued comprehensive guidance for Fiscal 2027, projecting ore processing of 1,526,600 to 1,607,000 tonnes, representing a 3% to 9% increase from Fiscal 2026. Metal production guidance includes silver (6.8-7.1 million ounces), gold (9,500-10,000 ounces), lead (62.7-65.8 million pounds), and zinc (22.3-23.4 million pounds), with most metals showing modest to moderate growth expectations. Cost guidance indicates higher cash costs and all-in sustaining costs (AISC) for Fiscal 2027 compared to prior periods, attributed to anticipated increases in contractor unit costs and more development activities planned for future production growth. Capital expenditure guidance totals $141.0 million for China Operations, including $124.1 million for the Ying Mining District focused on development tunneling, exploration, and construction of a new No. 3 Mill expected to add 3,000 tonnes per day of capacity by Q1 Fiscal 2028. Additionally, $159.8 million is budgeted for the El Domo Project in Ecuador, with the total project budget remaining unchanged at $283.6 million and an expected completion date of July 1, 2027. The company also noted its MSCI ESG rating was upgraded from A to AA during the fourth quarter.