Northwire Canada EditionMonday, November 2, 2026
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Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8% Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8%
Resource Estimate Routine +

Silvercorp reports a Mineral Reserve increase of 50% in tonnes and 20% in silver ounces for the Ying Mining District

Silvercorp’s Ying District reserve extension adds 20% silver ounces and extends mine life to 2042.

By The Northwire Desk — AI Analysis Jun 12, 2026 · 08:00 SVM · 14.71 Silvercorp Metals Inc.
Executive Summary
  • Silvercorp updated its NI 43-101 Technical Report for the Ying Mining District, revealing a 50% increase in total Mineral Reserve tonnes and a 20% increase in contained silver ounces versus the 2024 report.
  • Updated reserves stand at 19.08 Mt (Proven & Probable) grading 174 g/t Ag, 0.17 g/t Au, 2.47% Pb, 0.80% Zn, and 0.04% Cu.
  • Contained metals total 106 Moz Ag, 107 koz Au, 472 kt Pb, 150 kt Zn, and 6.7 kt Cu.
  • The updated 17-year Life of Mine (LOM) plan projects ore production ramping from ~1.2 Mt in FY2026 to >1.6 Mt by FY2029, extending mine life through 2042.
  • Economic analysis at long-term prices ($28/oz Ag, $2,800/oz Au) and a 5% discount rate projects a pre-tax NPV of $1,275M and post-tax NPV of $1,030M.
  • Operating cost assumptions include mining at $75.43/t, milling at $12.40/t, royalties at $9.87/t, and sustaining/growth capex at $19.08/t.
  • Mining methods are predominantly cut-and-fill resuing (64%) and shrinkage stoping (32%), with dilution averaging 17-20% and recovery factors of 92-95%.
  • A 20% increase in cut-off grades results in an approximate 16% reduction in total Ying AgEq ounces, indicating moderate sensitivity.
  • Mine-by-mine contributions: SGX leads with 38% of tonnes and 44% of Ag; TLP contributes 18% of tonnes; LMW contributes 13% of tonnes; KP reports its first Mineral Reserves of 0.21 Mt.
Material Impact
  • The reserve update is fundamentally positive but aligns with prior expectations and does not constitute a market-moving catalyst. It validates the longevity and economics of the Ying district, which remains the company's cash engine.
  • The ~30% stock decline from the May 13 high ($21.52) to the Jun 9 low ($14.05) already priced in the El Domo budget increase ($284M, 6-month delay) and broader precious metals volatility.
  • This news provides a fundamental floor rather than a re-rating trigger. It extends mine life by 17 years and adds 20% more silver ounces, but it does not alter near-term production guidance, cost structure, or capital allocation plans.
  • The market's revealed expectation into this print is neutral-to-slightly-positive, as the technical update is expected and the stock has already corrected to a more attractive valuation multiple.
SVM · Price
Company Overview
  • Silvercorp is a producing precious and base metals miner with operations in China, Ecuador, and Kyrgyzstan.
  • Flagship asset: Ying Mining District (China), a multi-mine silver-lead-zinc-gold operation with extended mine life through 2042.
  • Growth assets: El Domo (Ecuador, silver-gold-copper-zinc-lead), Tulkubash/Kyzyltash (Kyrgyzstan, gold), Condor (Ecuador, gold-silver-zinc-lead), and Kuanping (China, silver).
  • The company operates under NI 43-101 standards, with technical reports prepared by independent qualified persons.
  • Jurisdictional mix includes stable Chinese operations, emerging Ecuadorian projects, and a new Kyrgyzstan joint venture.
Read the original news release →

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