GC to boost Silvercorp
10th Feb 2012
VANCOUVER, Feb 10 – The start of production from the GC mine in China’s Guangdong Province will help Silvercorp Metals to record its eighth successive year of higher silver production in the coming 12 months.
Production guidance for the financial year ending March 31, 2013 indicates a 20% rise in silver production to 6,700,000oz. The company predicts gold output will grow 90% to 18,240oz, lead 12% to 81.2M lb and zinc 63% to 9.6M lb.
Silvercorp says the four mines at the Ying Mining Camp will produce 5.9M oz of silver, 3,350 oz of gold and 87M lb of lead and zinc. Cash and total production costs will be slightly higher at $68 and $85/t.
The GC mine, due to commence production in the September quarter, is expected to produce 630,000 oz of silver and 12M lb of lead and zinc at cash and total production costs of $40 and $65/t.
BYP mine in Hunan Province is expected to produce 13,590 oz gold at cash and total production costs of $35 and $60/t.
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