Silvercorp Reports Q1 2016 Results

Silvercorp Metals (TSX:SVM) has reported its financial and operating results for the first quarter ended June 30, 2016.
As quoted in the press release:

FIRST QUARTER HIGHLIGHTS

• Net income attributable to equity shareholders of $4.7 million, or $0.03 per share compared with net earnings attributable to equity shareholders of $2.3 million or $0.01 per share in the prior year period;
• Silver, lead and zinc sales up 20%, 12% and 15%, respectively, from the prior year period to 1.6 million ounces silver, 16.7 million pounds lead and 5.2 million pounds zinc;
• Sales of $35.3 million, up 9% from the prior year period despite a 3%, 13%, and 17% decline in the average selling price of silver, lead and zinc from prior year period;
• A 23%, 21% and 22% increase in the head grades of silver, lead and zinc;
•  Gross margin improved to 45% from 36% in the prior year period;
• Cash flows from operations of $20.2 million, up 52% from the prior year period;
• Cash production cost per tonne1 of $61.65 compared with $71.01 in the prior year period;
• Cash cost per ounce of silver 1, net of by-product credits, of $0.08, compared to $1.39 in the prior year period;
• All-in sustaining cost per ounce of silver1 , net of by-product credits, of $7.06, compared to $10.94 in the prior year quarter; and
• Ended the period with $73.4 million in cash and short term.

Click here to read the full press release.