Silvercorp Metals (TSX: SVM) has released preliminary results for the fiscal first quarter, announcing last night after the bell that they anticipate revenue of $81.3 million for the second quarter. The figure represents an improvement of 13% on a year over year basis, and is up from $75.1 million on a quarter over quarter basis.
That revenue figure follows the sale of 1.8 million ounces of silver, 1,951 ounces of gold, 15.2 million pounds of lead, and 5.2 million pounds of zinc during the quarter.
Total silver production during the first quarter is said to have totaled 1.8 million ounces, which when combined with 2,050 ounces of gold production, resulted in silver equivalent production of 2.0 million ounces, which was an improvement from 1.8 million silver equivalent ounces in the year ago period.
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15.7 million pounds of lead and 5.2 million pounds of zinc were produced during the quarter as well, which Silvercorp does not include within their silver equivalent figures.
Exploration during the quarter meanwhile saw a total of 81,425 metres of drilling conducted, as well as 19,950 metres of exploration tunneling.
Silvercorp last traded at $6.97 on the TSX.
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