Q1 2025 Silvercorp Metals Inc Earnings Call Transcript
Key Points
- Silvercorp Metals Inc (SVM) reported record quarterly revenue of $72 million, a 20% increase from the previous year.
- The company achieved significant improvements in realized metal prices, with silver prices rising by 36%, gold by 18%, lead by 18%, and zinc by 23%.
- Attributable net income for Q1 was $22 million or $0.12 per share, up from $9 million or $0.05 per share in the same quarter last year.
- Cash flow from operating activities increased by 38% year over year, largely due to higher metals prices.
- The company ended the quarter with $216 million in cash, cash equivalents, and short-term investments, an increase of $31 million from the previous quarter.
- Despite higher throughput, production in silver, lead, and zinc decreased by 4%, 12%, and 6%, respectively, due to lower head grades.
- Production costs averaged $80 per tonne, 2% higher than last year's results.
- All-in sustaining costs per ounce of silver increased by 4% year over year to $9.82.
- The company faced higher business expenses related to the Adventus acquisition.
- There is a pending mine safety report approval for the Kuanping Project, which could delay development.
Thank you for standing by. Good afternoon. My name is Julie, and I will be your conference operator today. At this time, I would like to welcome everyone to the Silvercorp first-quarter fiscal 2025 financial results conference call. (Operator Instructions)
I would now like to turn the conference over to Lon Shaver, President of Silvercorp. Please go ahead.
Thank you, Julie. On behalf of Silvercorp, I'd like to welcome everyone to the call this morning. Today, we'll discuss our first quarter fiscal 2025 financial results which were released yesterday after the close of the market. A copy of the news release, our MD&A and financial statements are available on our website and SEDAR+. Before we get going, please note that certain statements on today's call will contain forward-looking information within the meaning of applicable securities laws. And also please review the cautionary statements in our news release as well as the risk factors described in our most recent regulatory filings.
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