Silvercorp Metals Inc. reported net income of $18.1 million, or $0.08 per share, for the first quarter of Fiscal 2026, driven by revenue of $81.3 million generated from metal sales including 1.8 million ounces of silver, 1,951 ounces of gold, 15.2 million pounds of lead, and 5.2 million pounds of zinc. Production figures for the quarter were equally strong, with the company producing 1.8 million ounces of silver, 2,050 ounces of gold, 15.7 million pounds of lead, and 5.2 million pounds of zinc, totaling 2.0 million ounces of silver equivalent. The company maintained efficient operations with all-in sustaining costs of $13.49 per ounce of silver, net of by-product credits, demonstrating cost control amid challenging market conditions.
Adjusted financial metrics further highlighted the company's solid performance, with adjusted net income reaching $21.0 million, or $0.10 per share, and EBITDA attributable to equity shareholders totaling $33.8 million, or $0.15 per share. Operating cash flow was particularly noteworthy at $48.3 million, contributing significantly to free cash flow generation of $22.5 million for the quarter. This strong cash flow performance underscores the company's operational efficiency and ability to generate substantial returns from its mining activities.
Strategic investments during the quarter totaled $18.8 million in China operations and $5.4 million in Ecuador operations, reflecting the company's commitment to expanding and optimizing its production capabilities across key geographic regions. Additionally, the company distributed $2.7 million in dividends to shareholders, balancing growth investments with returns to investors. Silvercorp ended the quarter with a robust financial position, holding $377.1 million in cash and cash equivalents along with $72.2 million in equity investments, providing substantial liquidity for future opportunities.
A significant development during the quarter was the $175 million stream financing commitment from Wheaton Precious Metals International Ltd. for the El Domo project, which represents a major step forward in the company's growth strategy. This substantial financing arrangement provides crucial capital for project development and positions Silvercorp for continued expansion in the precious metals sector. For more detailed information about Silvercorp's financial performance and strategic initiatives, visit https://ibn.fm/rubWN.
