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Press Release: Silvercorp Reports Net Income of -8-

· 02/04/2021 17:11
Three months ended December Nine months ended December GC Mine 31, 31, --------------------------- ----------------------------- 2020 2019 Changes 2020 2019 Changes ------------------ ------ ------ --------- ------- ------- --------- Production Data Mine Data Ore Mined (tonne) 97,177 86,437 12% 264,389 250,417 6% Ore Milled (tonne) 97,743 89,372 9% 267,230 257,367 4% Head Grades Silver (gram/tonne) 82 96 -15% 85 97 -12% Lead (%) 1.4 2.0 -30% 1.7 1.9 -11% Zinc (%) 3.5 3.3 6% 3.4 3.3 3% Recovery Rates Silver (%) * 82.6 78.0 6% 82.6 76.9 7% Lead (%) 89.6 90.4 -1% 89.5 89.2 0% Zinc (%) 89.7 85.5 5% 88.2 85.8 3% Cost Data Mining cost per tonne of ore + mined ($) 50.53 51.60 -2% 46.56 48.07 -3% Cash mining cost per tonne of ore mined ($) 41.47 42.96 -3% 37.89 39.91 -5% Depreciation and amortization charges per tonne of ore mined ($) 9.06 8.64 5% 8.67 8.16 6% Milling cost per tonne of ore + milled ($) 13.72 15.20 -10% 13.39 15.14 -12% Cash milling cost per tonne of ore milled ($) 12.60 14.01 -10% 12.22 13.53 -10% Depreciation and amortization charges per tonne of ore milled ($) 1.12 1.19 -6% 1.17 1.61 -27% Cash production cost per tonne of ore processed + ($) 54.07 56.97 -5% 50.11 53.44 -6% All-in sustaining cost per tonne of ore processed + ($) 78.63 71.03 11% 71.58 67.14 7% Cash cost per ounce of Silver, net of by-product + credits ($) (14.43) (4.33) -233% (11.21) (7.30) -54% All-in sustaining cost per ounce of Silver, net of by-product + credits ($) (1.05) 2.18 148% (0.10) (0.33) 70% Concentrate inventory Lead concentrate (tonne) 282 190 48% 282 190 48% Zinc concentrate (tonne) 549 80 586% 549 80 586% Sales Data Metal Sales Silver (in thousands of ounces) 201 234 -14% 585 610 -4% Lead (in thousands of pounds) 2,599 3,867 -33% 8,671 9,553 -9% Zinc (in thousands of pounds) 6,724 5,471 23% 17,672 15,942 11% Revenue Silver (in thousands of $) 2,707 2,603 4% 7,326 6,389 15% Lead (in thousands of $) 1,961 3,021 -35% 6,228 7,763 -20% Zinc (in thousands of $) 5,809 3,203 81% 12,758 9,776 31% Other (in thousands of $) 305 - 0% 665 289 130% 10,782 8,827 22% 26,977 24,217 11% ------ ------ ---- ------- ------- ---- Average Selling Price, Net of Value Added Tax and Smelter Charges Silver ($ per ounce) ** 13.47 11.12 21% 12.52 10.47 20% Lead ($ per pound) 0.75 0.78 -4% 0.72 0.81 -11% Zinc ($ per pound) 0.86 0.59 46% 0.72 0.61 18% * Silver recovery includes silver recovered in lead concentrate and silver recovered in zinc concentrate. ** Silver in zinc concentrate is subjected to higher smelter and refining charges which lowers the net silver selling price.Three months ended December Nine months ended December Ying Mining District 31, 31, ----------------------------- ----------------------------- 2020 2019 Changes 2020 2019 Changes ------------------ ------- ------- --------- ------- ------- --------- Production Data Mine Data Ore Mined (tonne) 182,268 176,149 3% 537,464 528,818 2% Ore Milled (tonne) 162,905 175,488 -7% 519,677 532,317 -2% Head Grades Silver (gram/tonne) 297 296 0% 293 311 -6% Lead (%) 4.3 4.6 -7% 4.4 4.6 -4% Zinc (%) 0.8 0.9 -11% 0.8 0.9 -11% Recovery Rates Silver (%) 93.9 96.1 -2% 94.4 96.1 -2% Lead (%) 96.4 96.3 0% 96.2 95.9 0% Zinc (%) 63.3 70.3 -10% 61.7 62.6 -1% Cost Data Mining cost per tonne of ore + mined ($) 94.03 91.91 2% 91.47 89.67 2% Cash mining cost per tonne of ore mined ($) 68.02 64.69 5% 66.67 62.33 7% Depreciation and amortization charges per tonne of ore mined ($) 26.01 27.22 -4% 24.80 27.34 -9% Unit shipping + costs ($) 3.98 3.89 2% 3.80 3.92 -3% Milling costs per tonne of ore + milled ($) 12.94 12.76 1% 10.97 11.74 -7% Cash milling cost per tonne of ore milled ($) 11.09 10.99 1% 9.30 9.98 -7% Depreciation and amortization charges per tonne of ore milled ($) 1.85 1.77 5% 1.67 1.76 -5% Cash production cost per tonne of ore processed + ($) 83.09 79.57 4% 79.77 76.23 5% All-in sustaining cost per tonne of ore processed + ($) 133.07 126.43 5% 127.40 124.31 2% Cash cost per ounce of Silver, net of by-product + credits ($) (1.12) (0.72) -56% (0.71) (1.40) 49% All-in sustaining cost per ounce of Silver, net of by-product + credits ($) 5.24 5.57 -6% 5.31 4.55 17% Concentrate inventory Lead concentrate (tonne) 871 3,625 -76% 871 3,625 -76% Zinc concentrate (tonne) 62 190 -67% 62 190 -67% Sales Data Metal Sales Silver (in thousands of ounces) 1,446 1,475 -2% 4,674 4,848 -4% Gold (in thousands of ounces) 0.8 0.7 14% 2.9 2.8 4% Lead (in thousands of pounds) 14,207 14,912 -5% 47,571 46,137 3% Zinc (in thousands of pounds) 2,241 2,882 -22% 5,662 6,400 -12% Revenue Silver (in thousands of $) 28,013 21,437 31% 82,625 68,648 20% Gold (in thousands of $) 1,194 890 34% 4,164 3,286 27% Lead (in thousands of $) 10,892 11,112 -2% 35,386 37,750 -6% Zinc (in thousands of $) 2,114 1,836 15% 4,556 4,460 2% Other (in thousands of $) 273 406 -33% 1,112 1,609 -31% 42,486 35,681 19% 127,843 115,753 10% ------- ------- ---- ------- ------- ---- Average Selling Price, Net of Value Added Tax and Smelter Charges Silver ($ per ounce) 19.37 14.53 33% 17.68 14.16 25% Gold ($ per ounce) 1,493 1,271 17% 1,436 1,174 22% Lead ($ per pound) 0.77 0.75 3% 0.74 0.82 -10% Zinc ($ per pound) 0.94 0.64 47% 0.80 0.70 14%

(Expressed in thousands of U.S. dollars, except for mining data figures)

SILVERCORP METALS INC.

Mining Data

(Expressed in thousands of U.S. dollars, except for mining data figures)

(END) Dow Jones Newswires

February 04, 2021 17:11 ET (22:11 GMT)