04:45:20 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Silvercorp Metals Inc
Symbol SVM
Shares Issued 166,995,106
Close 2016-07-26 C$ 3.47
Market Cap C$ 579,473,018
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Lundin says keep holding Silvercorp Metals

2016-07-26 20:54 ET - In the News

Brien Lundin, in the July, 2016, edition of the Gold Newsletter, says hold Silvercorp Metals Inc., recently $2.95. Mr. Lundin first said buy in June, 2003, at 71 cents. Since then, he has bought 15 more times at prices ranging from 71 cents to $19.50 and sold half twice, at $10.55 and $10.10 (the stock split 3:1 in October, 2007). Assuming a $1,000 investment for each of the 16 buys, the two half sales yielded profits of $14,366 and $26,835, respectively. The current $11,750 position is now worth $16,369. Silvercorp earned $6.3-million on sales of $107.9-million in fiscal 2016, a huge improvement over the $103.1-million loss incurred in fiscal 2015. Sales have been doing better since the silver market improved. Year over year, the company's fiscal fourth quarter sales figures were up by 6 per cent to one million silver ounces, 2 per cent to 9.3 million lead pounds and 41 per cent to 3.6 million zinc pounds. Silvercorp has completed 63,398 metres of underground drilling and 19,113 metres of preparation tunnelling at its Ying mine, as well as 58,268 metres of underground drilling and 13,570 metres of tunnelling at its GC mine, both in China. It remains a hold at current levels.

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