Silvercorp Metals (TSX: SVM; NYSE: SVM) enters this year buoyed by a 43% quarterly revenue increase from its two mines in China as it advances two projects in South America towards production.
President Lon Shaver says the El Domo copper-gold project in Ecuador, which Silvercorp acquired last July, can be built for less than the US$248 million capex estimated in a 2021 feasibility study. Wheaton Precious Metals (TSX: WPM, NYSE: WPM; LSE: WPM) has also bought a stream for US$175 million which will go towards the capex, Shaver said last month at the AME Roundup conference in Vancouver.
“That is a very material return to our shareholders and also a return for the government as they’ll participate in taxes earlier from this project,” he said.
Silvercorp is scheduling output to start in next year’s second half. It’s also working on exploration and permitting at its Condor project in southern Ecuador, which Shaver said could become a high-grade gold mine.
Watch the full chat below with The Northern Miner’s western editor, Henry Lazenby. JV videos are paid-for content in arrangement with The Northern Miner.
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