About the company
A mining company, Silvercorp Metals Inc focuses on the extraction of silver, lead, and zinc metals from mines in China. The company resides in the Ying Mining District in Henan Province and Gaocheng province in China. Getting an svm stock at https://www.webull.com/quote/amex-svm is a matter of pride since it is one of the top mining companies in China. The company has several mines in the Ying Mining District, some of them being SGX, HPG, TLP, LME, LMW, and HZG mines. A smaller satellite deposit is present in the SGX area. The HZG mine has an enlisted 19.83 square kilometers(km) of the area.
Why invest in silver
Taking references from the current mining situation in China, we can observe why a silver mining company is on cloud nine when compared to that of other metals. Some of the facts are:
- Silver miners have hit the jackpot this February.
- Silver has reached its highest price, with a rise of $18/ounce. That calls for a rise of 13% in the last 5 sessions.
- Shares of Silvercorp Metals were the biggest equity gainers, which is a positive sign for anyone looking for svm stock.
- Despite the extended shut-down during Q4 Fiscal 2020, the company was able to achieve its production target.
Update on FISCAL 2021
Covid-19 had a serious impact on The Republic of China from various perspectives. Although most of the company operations were put on hold, it is now back to its normal form. The Fiscal 2021 production guidance was tweaked to some extent and this was announced on February 6, 2020 news release. The company has decided to implement some of its cost-saving measures to bring balance in capital expenditures. They have to implement cost-saving methods in the company as there is a decrease in metal prices during the post-Covid-19 era.
The Amending Agreement
Silvercorp Metals limited and Guyana Goldfields have decided to enter into an Amending agreement. After this agreement, each holder of Guyana Goldfield’s shares will receive, for each Guyana Goldfields held, $0.25 in cash and 0.1849 for Silvercorp common share, for a total of $1.30 per share. Silvercorp Metals Limited holds 9.48% of the outstanding common shares. The Amending Act has received the stamp of approval from the Board of directors of Guyana Goldfields. They have asked their stakeholders to vote in favor of the agreement. Silvercorp Metals Limited board has also approved of it. You can also check ibio stock at https://www.webull.com/quote/amex-ibio .