Silvercorp Shares Drop 5.22% as Preliminary Q2 Revenue Falls 13%

Silvercorp Metals Inc. (SVM) shares closed 5.22% lower at $9.26 on Oct. 20 after the Canadian miner posted a 13% decline in preliminary fiscal second-quarter revenue as production fell at its Ying Mining District in China. Preliminary revenue was $72.1 million for the quarter ended Sept. 30. The stock had closed at $9.77 on Oct. 19. Silver production at Ying fell 41% to about 900,000 ounces, while gold output declined 34% to 1,371 ounces. The district processed 213,320 metric tons of ore, down 20%, as safety work affected operations.

Source: TokenPost