Silvercorp Reports Silver Production of 5 Million Ounces

Silvercorp Metals (TSX:SVM) has reported its financial and operating results for the fourth quarter and fiscal year ending March 31, 2016.
As quoted in the press release:

FISCAL YEAR 2016 HIGHLIGHTS

• Net income attributable to equity shareholders of $6.3 million, or $0.04 per share, compared to net loss attributable to equity shareholders of $103.1 million, or a loss of $0.60 per share in the prior year;
• Silver, lead and zinc head grades at the Ying Mining District (“Ying”) improved by 12%, 12% and 3% to 268 g/t, 3.9% and 0.8%, respectively compared to the prior year;
• G&A costs decreased by 16% to $17.4 million compared to $20.6 million in the prior year;  All‐in sustaining cost per ounce of silver, net of by‐product credits, of $10.20, compared to $11.33 in the prior year;
• Silver sales of 5.0 million ounces, lead sales of 52.5 million pounds and zinc sales of 17.5 million pounds, down 2%, and up 2% and 10%, respectively, from the prior year;
• Sales of $107.9 million, down 16% from the prior year on a 17% drop in average selling price of silver;
• Gross margin of 33% compared with 43% in the prior year;
• Cash cost per ounce of silver, net of by‐product credits, of $1.44, compared to $0.22 in the prior year;
• Cash flow from operations of $31.9 million, or $0.19 per share, down 41% compared to $54.1 million, or $0.32 per share in the prior year; and,
• Ended the fiscal year with $62.0 million in cash, cash equivalents and short‐term investments.

Click here to read the full press release.