Silvercorp Minerals steigt unbemerkt - 500 Beiträge pro Seite
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| Platz | vorher | Wertpapier | Kurs | Perf. % | Anzahl | ||
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| 1. | 1. | 18.772,85 | +0,46 | 131 | |||
| 2. | 3. | 0,2170 | +3,33 | 125 | |||
| 3. | Neu! | 8,9600 | +58,87 | 108 | |||
| 4. | 4. | 167,76 | -2,45 | 103 | |||
| 5. | 14. | 5,7540 | -2,18 | 56 | |||
| 6. | 2. | 0,2980 | -3,87 | 50 | |||
| 7. | 5. | 2,5700 | -6,55 | 49 | |||
| 8. | 7. | 6,8000 | +2,38 | 38 |
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hallo börsenfreunde,
ich habe seit 2 wochen den wert von silvercorp, wkn A0EAS0, auf meiner watchlist und die aktie steigt und steigt...
silvercorp ist eine explorationsgesellschaft, welche in china tätig ist.
die aktie ist noch nicht lange in D gelistet, das volumen fängt aber ganz langsam an anzuziehen!!!
am gestrigen freitag konnte der wert in CAN auf einem neuen hoch schließen (13,49$)
nachbörslich kamen nochmals news:
im original
2006-03-03 21:42 ET - News Release
See News Release (C-NUX) New Pacific Metals Corp
Mr. Rui Feng of New Pacific reports
KANG DIAN OPTION AGREEMENT SHARE ISSUANCE
New Pacific Metals Corp. has issued a second tranche of two million shares to Silvercorp Metals Inc. pursuant to the option agreement reported in Stockwatch on March 5, 2004. Under the option agreement the company agreed to issue Silvercorp a total of 6.5 million shares as consideration for the Kang Dian property, located in Sichuan province, China. Silvercorp now holds 4.5 million shares of the company, representing 24.86 per cent of the company`s issued and outstanding shares.
silvercorp gab am donnerstag bekannt, auf welche weise sie ihr programm starten wollen, d.h. sie haben ihre vorgaben für verlegungen der pipelines u.ä. veröffentlicht
ihr könnt es hier nachlesen, das wird sonst zu viel text:
http://www.stockwatch.com/swnet/newsit/newsit_newsit.aspx?bi…
die aktie von silverecorp konnte innerhalb eines monats um 100% zulegen und ich denke, dass aufgrund den news es noch viel weiter gehen wird.
sollte der wert hier in D erstmal bekannt werden, dann kann es nur eine richtung geben, denn die news sind erstklassig und die firma ist sehr gut aufgestellt.
es soll nur ein denkanstoss sein, schaut es euch einfach mal an.
http://www.silvercorp.ca/corp_prof.html
hier noch einige auszüge aus vergangenen news:
A total of $670,000 has been budgeted to complete 4,540 metres of tunnelling designed to intersect S9, S11, S12, S13 and S14 at the east of northeast the end of the S8 vein at the YLG camp. Another 2,100 metres of tunnels will be developed at the southwest end of the S8 vein to detect the seven northeast-trending veins at the HZG camp, where massive galena sheet mineralization grading over 80 ounces of silver per ton was recently discovered.
A total of $1.07-million (U.S.) is budgeted to sink the three shafts a total of 900 metres and to install cages. By the end of the year, the three shafts are each expected to have been sunk to the 200-metre elevation, and cages and pumps will have been installed. Two of the shafts will be used to haul ore and waste with the third providing ventilation for the mine. When the shafts are operational at the beginning of 2007, tunnels will be developed at depth on six elevations (500 metres, 460 metres, 410 metres, 360 metres, 310 metres and 260 metres).
the resource utilization plan (RUP) report has been reviewed by an independent engineering firm certified by the Ministry of Land and Resource, with the Health and Safety section of the report reviewed by the Provincial Safety Production Bureau. As required, the RUP together with positive review conclusions, have been filed with, and accepted for filing by, the Henan Province Department of Land and Resources (DOLAR);
the EAR has been completed by qualified engineering firm and has been reviewed and approved by a government-appointed independent review panel together with environmental protection agents from county, municipal and provincial governments. The EAR has been submitted to and approved by the Environment Protection Bureau of Henan Province; and
the geological hazards assessment report has been prepared by a qualified geological engineering firm and reviewed by a qualified third party, with the report and its approval filed with, and accepted for filing by, DOLAR.
The remainder is available to Stockwatch subscribers.
viel spaß mit der aktie, nehmt sie mal auf die watchlist, ich bin investiert
ich habe seit 2 wochen den wert von silvercorp, wkn A0EAS0, auf meiner watchlist und die aktie steigt und steigt...
silvercorp ist eine explorationsgesellschaft, welche in china tätig ist.
die aktie ist noch nicht lange in D gelistet, das volumen fängt aber ganz langsam an anzuziehen!!!
am gestrigen freitag konnte der wert in CAN auf einem neuen hoch schließen (13,49$)
nachbörslich kamen nochmals news:
im original
2006-03-03 21:42 ET - News Release
See News Release (C-NUX) New Pacific Metals Corp
Mr. Rui Feng of New Pacific reports
KANG DIAN OPTION AGREEMENT SHARE ISSUANCE
New Pacific Metals Corp. has issued a second tranche of two million shares to Silvercorp Metals Inc. pursuant to the option agreement reported in Stockwatch on March 5, 2004. Under the option agreement the company agreed to issue Silvercorp a total of 6.5 million shares as consideration for the Kang Dian property, located in Sichuan province, China. Silvercorp now holds 4.5 million shares of the company, representing 24.86 per cent of the company`s issued and outstanding shares.
silvercorp gab am donnerstag bekannt, auf welche weise sie ihr programm starten wollen, d.h. sie haben ihre vorgaben für verlegungen der pipelines u.ä. veröffentlicht
ihr könnt es hier nachlesen, das wird sonst zu viel text:
http://www.stockwatch.com/swnet/newsit/newsit_newsit.aspx?bi…
die aktie von silverecorp konnte innerhalb eines monats um 100% zulegen und ich denke, dass aufgrund den news es noch viel weiter gehen wird.
sollte der wert hier in D erstmal bekannt werden, dann kann es nur eine richtung geben, denn die news sind erstklassig und die firma ist sehr gut aufgestellt.
es soll nur ein denkanstoss sein, schaut es euch einfach mal an.
http://www.silvercorp.ca/corp_prof.html
hier noch einige auszüge aus vergangenen news:
A total of $670,000 has been budgeted to complete 4,540 metres of tunnelling designed to intersect S9, S11, S12, S13 and S14 at the east of northeast the end of the S8 vein at the YLG camp. Another 2,100 metres of tunnels will be developed at the southwest end of the S8 vein to detect the seven northeast-trending veins at the HZG camp, where massive galena sheet mineralization grading over 80 ounces of silver per ton was recently discovered.
A total of $1.07-million (U.S.) is budgeted to sink the three shafts a total of 900 metres and to install cages. By the end of the year, the three shafts are each expected to have been sunk to the 200-metre elevation, and cages and pumps will have been installed. Two of the shafts will be used to haul ore and waste with the third providing ventilation for the mine. When the shafts are operational at the beginning of 2007, tunnels will be developed at depth on six elevations (500 metres, 460 metres, 410 metres, 360 metres, 310 metres and 260 metres).
the resource utilization plan (RUP) report has been reviewed by an independent engineering firm certified by the Ministry of Land and Resource, with the Health and Safety section of the report reviewed by the Provincial Safety Production Bureau. As required, the RUP together with positive review conclusions, have been filed with, and accepted for filing by, the Henan Province Department of Land and Resources (DOLAR);
the EAR has been completed by qualified engineering firm and has been reviewed and approved by a government-appointed independent review panel together with environmental protection agents from county, municipal and provincial governments. The EAR has been submitted to and approved by the Environment Protection Bureau of Henan Province; and
the geological hazards assessment report has been prepared by a qualified geological engineering firm and reviewed by a qualified third party, with the report and its approval filed with, and accepted for filing by, DOLAR.
The remainder is available to Stockwatch subscribers.
viel spaß mit der aktie, nehmt sie mal auf die watchlist, ich bin investiert
hier noch ein bericht von financial.de
Silvercorp – in China gibt es noch viel Silber...
14.12.2005 (20:12)
Silvercorp Metals Inc. (vormals SKN Resources Ltd.) ist eine Aktiengesellschaft, die sich mit der Akquisition, Exploration und Ausbeutung von hochwertigen Mineralliegenschaften in China beschäftigt. Die Gesellschaft ist an der TSX unter dem Symbol SVM gelistet.
Die Strategie von Silvercorp ist es, durch die schnelle Entwicklung und Ausweitung ihres Ying Silberprojektes ein signifikanter Silberproduzent zu werden. Mit dem Erhalt des 77,5% Anteils akquiriert Silvercorp weitere Ländereien in diesem Gebiet und konsolidiert den Ying Silberdistrikt, der größer ist, als das Coeur D´Alene Silbercamp in Idaho. Gleichzeitig überprüft Silvercorp aktiv andere fortgeschrittene Silberliegenschaften in China für Akquisitionen.
Silvercorp ist ausgezeichnet finanziert, mit ausreichendem Betriebskapital und der Aussicht auf in kurzer Zeit erreichbare Rentabilität, um ihr Explorations- und Entwicklungsprogramm fortführen zu können. Silvercorp hält außerdem einen Anteil von 31% an New Pacific Metals Corp., einer Aktiengesellschaft, die an der TSX Venture unter dem Symbol NUX gelistet ist. New Pacific exploriert Nickel–Kupfer-Platingruppen-Metalle (PGM) in China.
Das Ying Silberprojekt
Das Ying Projekt besteht aus fünf Explorationsgenehmigungen, die sich über 52,6qkm erstrecken. Die Liegenschaft ist etwa 200km südlich von Zhengzhou, der Hauptstadt der Provinz Henan, gelegen und ist leicht über Straßen zu erreichen. Ein chinesisches/ausländisches Joint Venture Unternehmen, Henan Found Mining Co. Ltd. (Found), hält einen Anteil von 100% am Ying Silbeprojekt. Silvercorp hat einen Anteil von 77,5% an Found erhalten, der auf 90% aufgestockt werden kann, wenn sich dessen chinesischer Partner nicht dazu entschließt, nach Silvercorps anfänglichem Einstieg keine Barzahlungen zu leisten.
Bis heute wurden im Ying Silberprojekt über 40 Erzadern kartographisch erfasst. Im SGX Genehmigungsbereich wurde ein Haufen von 22 Erzadern identifiziert, jeder davon enthält den Beweis von Mineralisierung in Form von massivem Galenit (MGS). Galenit ist ein Bleisulphid – die natürlich vorkommende Form von Blei und Silber.
Eine unabhängige Ressourcenschätzung wurde für Teile von fünf Erzadern im SGX Gebiet angefertigt. Die Ressourcen der „measured“ und „indicated“ Kategorie belaufen sich auf 18,8 Mio. Unzen Silber (44,8 Unzen/T), 137`730 Tonnen Blei (32,8%) und 42`004 Tonnen Zink (9,99%). In der „inferred“ Kategorie wurden die Ressourcen mit 24,5 Mio. Unzen Silber (49,5 Unzen/T), 173`394 Tonnen Blei (35,0%) und 47`323 Tonnen Zink (9,6%) definiert, was eine Gesamtressource von 99,1 Mio. Unzen Silberäquivalent entspricht. Bei der Kalkulation der Silberäquivalente wurden Preise von 6,50 USD/Unze Silber, 0,35 USD/Pfund Blei und 0,35 USD/Pfund Zink zugrunde gelegt.
Highlights:
- Verkäufe der direkt verschifften Erze und gemahlenen Konzentrate, die aus Beiprodukten gewonnen wurden, generierten im ersten Halbjahr 2005 Einkünfte von 1,46 Mio. USD. Aus diesem Grund war das Explorations- und Entwicklungsprogramm im ersten Halbjahr selbstfinanzierend.
- Für das Jahr 2006 ist der Start der Produktion vorgesehen; dazu wird eine Mühle mit der Kapazität von 600t/Tag gebaut. Sobald eine Abbaugenehmigung vorliegt, sollen im Laufe des Jahres 5 Mio. Unzen Silber, 30`500 Tonnen Blei, 9`500 Tonnen Zink abgebaut werden. Dazu ist die Erweiterung der Ressourcen in die Tiefe vorgesehen.
- Enorm hochgradige Ressourcen lassen ein umweltfreundliches Abbauverfahren zu.
Unsere Einschätzung
Silvercorp ist im Vergleich zur „Peer Group“, bestehend aus anderen Silbergesellschaften ähnlicher Größe, die ebenfalls kurz vor der Produktion stehen, eindeutig sehr viel günstiger bewertet. Dies liegt wohl vor allem an der Abneigung vieler Investoren, sich an einem Projekt in China zu beteiligen. Erfahrungen anderer Minengesellschaften in China lassen sich aber nicht unbedingt auf Silvercorp anwenden. Insbesondere wird Silvercorp keinen Bedarf an Zyanid-Laugung haben und kann umweltfreundliche Gewinnungsmethoden einsetzen. Dazu verfügt das Management über ein gutes Beziehungsnetz in China. Wir sehen daher gute Chancen auf den Erhalt der Abbaugenehmigung im Jahre 2006.
Wir sind der Ansicht, dass die Risiken, die sich für die Gesellschaft mit dem Standort China ergeben, einen derartigen Kursabschlag nicht rechtfertigen und sehen daher für Silvercorp im Rahmen steigender Silberpreise weiteres Kurspotential. Insbesondere bei Erhalt der Abbaugenehmigung dürfte im Jahre 2006 ein Kursschub anstehen.
Kurstechnische Einschätzung: Börse: Toronto; Aktueller Kurs: $4,36 (13.12.05)
Der Kursverlauf von Silvercorp macht Laune! Denn dieser ist sowohl für langfristig-orientierte Investoren als auch kurzfristig-spekulativ orientierte Trader geeignet.
Das Schöne an Silvercorp aktuell ist, dass ein Einstieg sowohl für lang- als auch kurzfristig Orientierte ideal erscheint, denn der Kurs steht kurz vor einem neuen Aufwärtstrend.
Seit Ende 2004 befindet sich die Aktie in einem aufwärtsgerichteten (grünen) Trendkanal; nach welchem Erreichen des oberen Trendkanals jeweils eine dreimonatige Konsolidierungsphase bis zum unteren Trendkanal folgte. Diese Konsolidierung nahm jeweils die Form eines Dreiecks an; mit dem eingezeichneten oberen (roten) Dreiecksschenkel. Nach Erreichen des unteren Trendkanals folgte jeweils ein Ausbruch über den roten Widerstand, und es setzte einen scharfen, mehrmonatigen Boom bis zum oberen Trendkanal. Und genau so löst sich ein Dreieck bilderbuchmäßig auf; genannt „Thrust“.
Silvercorp – in China gibt es noch viel Silber...
14.12.2005 (20:12)
Silvercorp Metals Inc. (vormals SKN Resources Ltd.) ist eine Aktiengesellschaft, die sich mit der Akquisition, Exploration und Ausbeutung von hochwertigen Mineralliegenschaften in China beschäftigt. Die Gesellschaft ist an der TSX unter dem Symbol SVM gelistet.
Die Strategie von Silvercorp ist es, durch die schnelle Entwicklung und Ausweitung ihres Ying Silberprojektes ein signifikanter Silberproduzent zu werden. Mit dem Erhalt des 77,5% Anteils akquiriert Silvercorp weitere Ländereien in diesem Gebiet und konsolidiert den Ying Silberdistrikt, der größer ist, als das Coeur D´Alene Silbercamp in Idaho. Gleichzeitig überprüft Silvercorp aktiv andere fortgeschrittene Silberliegenschaften in China für Akquisitionen.
Silvercorp ist ausgezeichnet finanziert, mit ausreichendem Betriebskapital und der Aussicht auf in kurzer Zeit erreichbare Rentabilität, um ihr Explorations- und Entwicklungsprogramm fortführen zu können. Silvercorp hält außerdem einen Anteil von 31% an New Pacific Metals Corp., einer Aktiengesellschaft, die an der TSX Venture unter dem Symbol NUX gelistet ist. New Pacific exploriert Nickel–Kupfer-Platingruppen-Metalle (PGM) in China.
Das Ying Silberprojekt
Das Ying Projekt besteht aus fünf Explorationsgenehmigungen, die sich über 52,6qkm erstrecken. Die Liegenschaft ist etwa 200km südlich von Zhengzhou, der Hauptstadt der Provinz Henan, gelegen und ist leicht über Straßen zu erreichen. Ein chinesisches/ausländisches Joint Venture Unternehmen, Henan Found Mining Co. Ltd. (Found), hält einen Anteil von 100% am Ying Silbeprojekt. Silvercorp hat einen Anteil von 77,5% an Found erhalten, der auf 90% aufgestockt werden kann, wenn sich dessen chinesischer Partner nicht dazu entschließt, nach Silvercorps anfänglichem Einstieg keine Barzahlungen zu leisten.
Bis heute wurden im Ying Silberprojekt über 40 Erzadern kartographisch erfasst. Im SGX Genehmigungsbereich wurde ein Haufen von 22 Erzadern identifiziert, jeder davon enthält den Beweis von Mineralisierung in Form von massivem Galenit (MGS). Galenit ist ein Bleisulphid – die natürlich vorkommende Form von Blei und Silber.
Eine unabhängige Ressourcenschätzung wurde für Teile von fünf Erzadern im SGX Gebiet angefertigt. Die Ressourcen der „measured“ und „indicated“ Kategorie belaufen sich auf 18,8 Mio. Unzen Silber (44,8 Unzen/T), 137`730 Tonnen Blei (32,8%) und 42`004 Tonnen Zink (9,99%). In der „inferred“ Kategorie wurden die Ressourcen mit 24,5 Mio. Unzen Silber (49,5 Unzen/T), 173`394 Tonnen Blei (35,0%) und 47`323 Tonnen Zink (9,6%) definiert, was eine Gesamtressource von 99,1 Mio. Unzen Silberäquivalent entspricht. Bei der Kalkulation der Silberäquivalente wurden Preise von 6,50 USD/Unze Silber, 0,35 USD/Pfund Blei und 0,35 USD/Pfund Zink zugrunde gelegt.
Highlights:
- Verkäufe der direkt verschifften Erze und gemahlenen Konzentrate, die aus Beiprodukten gewonnen wurden, generierten im ersten Halbjahr 2005 Einkünfte von 1,46 Mio. USD. Aus diesem Grund war das Explorations- und Entwicklungsprogramm im ersten Halbjahr selbstfinanzierend.
- Für das Jahr 2006 ist der Start der Produktion vorgesehen; dazu wird eine Mühle mit der Kapazität von 600t/Tag gebaut. Sobald eine Abbaugenehmigung vorliegt, sollen im Laufe des Jahres 5 Mio. Unzen Silber, 30`500 Tonnen Blei, 9`500 Tonnen Zink abgebaut werden. Dazu ist die Erweiterung der Ressourcen in die Tiefe vorgesehen.
- Enorm hochgradige Ressourcen lassen ein umweltfreundliches Abbauverfahren zu.
Unsere Einschätzung
Silvercorp ist im Vergleich zur „Peer Group“, bestehend aus anderen Silbergesellschaften ähnlicher Größe, die ebenfalls kurz vor der Produktion stehen, eindeutig sehr viel günstiger bewertet. Dies liegt wohl vor allem an der Abneigung vieler Investoren, sich an einem Projekt in China zu beteiligen. Erfahrungen anderer Minengesellschaften in China lassen sich aber nicht unbedingt auf Silvercorp anwenden. Insbesondere wird Silvercorp keinen Bedarf an Zyanid-Laugung haben und kann umweltfreundliche Gewinnungsmethoden einsetzen. Dazu verfügt das Management über ein gutes Beziehungsnetz in China. Wir sehen daher gute Chancen auf den Erhalt der Abbaugenehmigung im Jahre 2006.
Wir sind der Ansicht, dass die Risiken, die sich für die Gesellschaft mit dem Standort China ergeben, einen derartigen Kursabschlag nicht rechtfertigen und sehen daher für Silvercorp im Rahmen steigender Silberpreise weiteres Kurspotential. Insbesondere bei Erhalt der Abbaugenehmigung dürfte im Jahre 2006 ein Kursschub anstehen.
Kurstechnische Einschätzung: Börse: Toronto; Aktueller Kurs: $4,36 (13.12.05)
Der Kursverlauf von Silvercorp macht Laune! Denn dieser ist sowohl für langfristig-orientierte Investoren als auch kurzfristig-spekulativ orientierte Trader geeignet.
Das Schöne an Silvercorp aktuell ist, dass ein Einstieg sowohl für lang- als auch kurzfristig Orientierte ideal erscheint, denn der Kurs steht kurz vor einem neuen Aufwärtstrend.
Seit Ende 2004 befindet sich die Aktie in einem aufwärtsgerichteten (grünen) Trendkanal; nach welchem Erreichen des oberen Trendkanals jeweils eine dreimonatige Konsolidierungsphase bis zum unteren Trendkanal folgte. Diese Konsolidierung nahm jeweils die Form eines Dreiecks an; mit dem eingezeichneten oberen (roten) Dreiecksschenkel. Nach Erreichen des unteren Trendkanals folgte jeweils ein Ausbruch über den roten Widerstand, und es setzte einen scharfen, mehrmonatigen Boom bis zum oberen Trendkanal. Und genau so löst sich ein Dreieck bilderbuchmäßig auf; genannt „Thrust“.
und schon wieder im plus...
gibt es eine bessere trading-aktie?? hab schon schöne gewinne gemacht
Silvercorp Metals Inc.: Letter Agreement Signed to Acquire Operating Silver-Gold-Lead Mine Within the Ying Silver Project Area, Henan Province, China
Monday March 13, 9:10 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 13, 2006) - Silvercorp Metals Inc. ("Silvercorp") (TSX:SVM - News) announces that it has signed a letter agreement with a private Chinese company ("HT Mining") to acquire a 60% interest in the Hou-Ping-Gou (HPG) silver (Ag)-gold (Au)-lead (Pb) mine, located within the Ying Silver Project area, Henan Province, China. This is the second acquisition in Silvercorp`s plan to increase and consolidate its land holdings in the Ying Project area. The acquisition of the HPG Mine remains subject to signing of the final joint venture contract, positive due diligence by independent consulting geologists, and regulatory approvals.
ADVERTISEMENT
Letter Agreement
Under the letter agreement, Silvercorp will enter into a joint venture contract with HT Mining, to create a joint venture company ("JV Company"), in which Silvercorp will have a 60% interest and HT Mining a 40% interest. HT Mining will contribute the HPG mine assets and permits to the JV Company and Silvercorp will pay a total of RMB42,000,000 (CDN$6 million @ CDN7.0/RMB) to HT Mining in installments, timed with the signing of the final joint venture contract, receipts of government approvals, issuance of the business license for the JV Company and transfer of the exploration and mining permits to the JV Company. Silvercorp will take over control of the operation upon receipt of a business license for the JV Company. Once Silvercorp has acquired its 60% interest, any future profit and funding requirement will be shared based on a 60%-40% ratio with a straight line dilution clause.
Current Operations
The HPG Mine, which has been in operation for about 5 years, is comprised of an exploration permit of 6.5 square km (km2), two mining permits totaling 0.53 km2; the HPG Mine itself and a lead-silver 250 tonnes per day (tpd) flotation mill about 10 km away from the mine. According to HT Mining, it is currently mining and milling about 200 to 250 tpd ores averaging 10% Pb, 8 ounces per tonne (oz/t) Ag and 0.05 oz/t Au with a total production cost of about US$30 per tonne of ore.
The HPG mine is mined through a shaft from 638m elevation at section Line 7 near H15 to 500m elevation near section line 10. The second access tunnel PD3 was developed at the 600m elevation along H15. Through several sub-declines, the tunnel extends down to the 380m elevation, about 220 m from surface. Ore and waste rock loaded on rail cars are hauled from declines using a 1.6m diameter hoist.
HT Mining is currently focusing on mining a high-grade massive galena sheet lens in the H17 vein discovered in 2004 between exploration lines 20 and 28. The lens is 1.5m to a maximum over 5m in width, 70 m in length and over 200 m in depth, extending from the 560 m elevation down to below 360 m elevation. Two continuous chip samples from the lens collected by Silvercorp`s geologists returned the following results:
Sample 1: 10.6 oz/t Ag, 0.019 oz/t Au, and 20.62% Pb over 2.3m (true width) at the 460m elevation
Sample 2: 29.6 oz/t Ag, 0.035 oz/t Au, and 38.64% Pb over 1.4m (true width) at the 420m elevation
Mineralization and Historical Resource
Based on an independent geological report completed by Henan Bureau of Non-ferrous Geology and Mineral Resources (HGMR), surface mapping, sampling, and trenching have defined over 20 northeast-trending veins, approximately 100 meters (m) apart, within the HPG Mine permit area. Only five out the 20 veins (H15, H16, H17, H18 and H20 veins), have been subjected to limited exploration. The Ag-Au-Pb mineralization in the HPG veins is similar to that of the veins in the SGX area of the Ying Silver project in orientation and mineralization, with mineralized quartz-carbonate vein structure containing massive galena sheets being hosted in the Archean gneisses. The majority of the veins are less than 1,000 m in strike length with widths ranging from 0.5 to 5.8 m, except H15 which is over 1,350m and H17 over 2,700m in length.
A total of 31 diamond drill holes totaling 9,041m were completed on the property by HGMR from 1988 to 1992 to intercept H15, H17 and H18 veins. However, only 7 drill holes intercepted significant mineralization (see Historical Drill Result Table below). Based on this drilling and tunnel sampling (see Historical Tunnel Assay Result below), HGMR made a resource estimate for parts of the H15 and H17 veins in 1999. HGMR estimated parts of the two veins have about 2,100,000 tonnes of inferred resources grading about 0.06 oz/t Au, 6.75 oz/t Ag and 12.24% Pb, containing about 128,000 oz of Au, 14,000,000 oz of Ag, and 250,000 tonnes of Pb metal. The historical estimate is not compliant with NI 43-101, however it is believed to be reliable, subject to the fact that a portion of the resource has been mined out since the estimate. While the current operator has made some new discoveries since the estimate, the remaining Resource cannot be calculated with reliability until confirmed by the Company.
Future Exploration Program
In comparison to the Ying Project, mineralized veins at the HPG project tend to be much wider, while silver and lead grades are lower. HT Mining has focused solely on mining high grade zones as they are encountered, rather than carrying out systematic exploration tunnelling work, therefore the resource potential on the HPG property has not yet been properly established.
Silvercorp`s geologists, however, believe that the Ag-Au-Pb vein mineralization in the HPG project area is similar to the mineralized quartz-carbonate vein structure containing massive galena sheets found at the SGX area of the Ying Silver project. The site visits made by Silvercorp indicate that mineralization on the major veins H15 and H17 remain open in all directions. Once Silvercorp has taken over the HPG operation a thorough systematic underground tunnelling and drilling program will be conducted on the twenty veins.
Historical Drilling and Tunneling Results
Significant Ag-Au-Pb mineralization was intercepted by previous drilling by HGMR on three veins - H15, H17, and H18. The assay results are listed in the Table below.
Historical Drilling Results Table for H15, H17 and H18 veins-----------------------------------------------------------------------
Core
Mineral- Inter- Elev-
Drill ized From To val ation Au Ag Cu Pb
Hole Veins (m) (m) (m) (m) (g/t) (g/t) (%) (%)
-----------------------------------------------------------------------
ZK1608 H17 385.27 390.90 5.63 390 2.38 221.65 18.79
Including 386.62 387.12 0.50 2.34 580.00 60.92
-----------------------------------------------------------------------
ZK1602 H15 141.81 143.16 1.35 690 0.77 146.41 14.58
-----------------------------------------------------------------------
ZK1604 H17 145.15 145.85 0.70 733 1.12 563.00 0.57
-----------------------------------------------------------------------
H18 164.05 164.75 0.70 692 2.25 7.50 0.03
-----------------------------------------------------------------------
ZK1601 H17 67.20 68.10 0.90 760 1.90 4.40 0.01
-----------------------------------------------------------------------
ZK1606 H15 338.93 341.73 2.80 490 0.28 234.86 0.67 22.83
Including 339.93 340.73 0.80 0.27 502.00 1.13 47.08
-----------------------------------------------------------------------
ZK1608 H17 246.93 249.25 2.32 590 7.49 186.22 0.93 8.14
Including 247.74 248.54 0.80 19.40 285.00 1.26 12.65
-----------------------------------------------------------------------
ZK0002-1 H15 145.01 146.21 1.20 520 0.66 126.00 5.63
------------------------------------------------------
H17 183.88 185.08 1.20 501 0.75 122.00 0.98
-----------------------------------------------------------------------
The best interval on H17 vein was from hole ZK1608, grading 2.34 g/t Au, 580 g/t Ag, and 60.92% Pb over 0.50m (core length) at 390m elevation, approximately 390m from the surface. The best interval on H15 vein was from hole ZK1606, returning 502 g/t Ag, 47.08% Pb, and 1.13% Cu over 0.80m (core length) about 340m at 490m elevation. It is believed that these two high grade lenses has not been mined out yet.
No systematic tunneling work has been conducted by previous operators during the period from 1992 to the present. The only available assay results for channel samples collected by HGMR for Veins H15 and H17 from 1992 to 1999 are listed below.
Historical Tunnel Result Table for H15 and H17 veins--------------------------------------------------------------------
True
Veins Tunnels Elevation Width Au Ag Pb
(m) (m) (g/t) (g/t) (%)
--------------------------------------------------------------------
H15 PD(15)32 800 0.40 4.09 204.82 8.53
PD(15)31 782 1.29 1.40 129.18 14.57
SJ4 762 1.00 1.87 174.57 11.63
PD(15)30 728 1.08 0.98 110.50 15.04
PD(15)44 711 1.31 1.24 145.33 12.43
PD115 691 1.50 1.57 146.29 12.77
PD108 690 1.34 2.97 137.40 2.84
PD(15)26 650 1.30 1.95 365.08 12.95
PD114 634 1.96 1.32 227.19 18.60
PD1-H2 580 1.21 1.56 151.23 5.86
PD1-H3 580 1.13 1.25 120.16 2.28
--------------------------------------------------------------------
H17 PD119 836 0.93 19.24 93.32 1.06
PD122 828 0.60 5.48 92.90 0.05
PD121 824 1.10 25.93 56.88 0.22
PD(15)44 714 0.99 1.30 130.51 10.29
PD108 698 0.90 2.56 145.58 9.81
PD115 693 1.20 3.93 602.83 10.78
PD(15)26 653 1.37 3.46 164.44 7.96
PD114 642 1.12 4.39 285.38 19.87
PD(15)25 635 0.92 2.22 156.02 7.03
PD(15)25 613 0.94 3.30 344.28 14.86
PD1-H2 586 1.05 2.17 101.27 3.42
PD1-H3 556 1.06 1.85 201.00 5.80
PD1-H4 548 1.02 2.50 107.00 6.82
PD1-H5 507 1.12 1.36 118.50 4.85
PD1-H6 507 1.03 4.90 140.00 7.81
--------------------------------------------------------------------
Quality Control
Myles Gao, P.Geo, is the Company`s Qualified Person on the project under NI 43-101. The Company`s Quality Control/Quality Assurance Program is disclosed in the January 4, 2006 Press Release.
Silvercorp is currently developing the Ying Silver project into production through its 77.5% subsidiary, Henan Found Mining Co. Ltd., a Sino-foreign joint venture company which holds 100 per cent of the Ying project and operates under a 30-year business license. HGMR, an entity controlled by Henan provincial government, holds the remaining 22.5% interest. The HPG Mine will be held independently from Henan Found.
SILVERCORP METALS INC.
Monday March 13, 9:10 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 13, 2006) - Silvercorp Metals Inc. ("Silvercorp") (TSX:SVM - News) announces that it has signed a letter agreement with a private Chinese company ("HT Mining") to acquire a 60% interest in the Hou-Ping-Gou (HPG) silver (Ag)-gold (Au)-lead (Pb) mine, located within the Ying Silver Project area, Henan Province, China. This is the second acquisition in Silvercorp`s plan to increase and consolidate its land holdings in the Ying Project area. The acquisition of the HPG Mine remains subject to signing of the final joint venture contract, positive due diligence by independent consulting geologists, and regulatory approvals.
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Letter Agreement
Under the letter agreement, Silvercorp will enter into a joint venture contract with HT Mining, to create a joint venture company ("JV Company"), in which Silvercorp will have a 60% interest and HT Mining a 40% interest. HT Mining will contribute the HPG mine assets and permits to the JV Company and Silvercorp will pay a total of RMB42,000,000 (CDN$6 million @ CDN7.0/RMB) to HT Mining in installments, timed with the signing of the final joint venture contract, receipts of government approvals, issuance of the business license for the JV Company and transfer of the exploration and mining permits to the JV Company. Silvercorp will take over control of the operation upon receipt of a business license for the JV Company. Once Silvercorp has acquired its 60% interest, any future profit and funding requirement will be shared based on a 60%-40% ratio with a straight line dilution clause.
Current Operations
The HPG Mine, which has been in operation for about 5 years, is comprised of an exploration permit of 6.5 square km (km2), two mining permits totaling 0.53 km2; the HPG Mine itself and a lead-silver 250 tonnes per day (tpd) flotation mill about 10 km away from the mine. According to HT Mining, it is currently mining and milling about 200 to 250 tpd ores averaging 10% Pb, 8 ounces per tonne (oz/t) Ag and 0.05 oz/t Au with a total production cost of about US$30 per tonne of ore.
The HPG mine is mined through a shaft from 638m elevation at section Line 7 near H15 to 500m elevation near section line 10. The second access tunnel PD3 was developed at the 600m elevation along H15. Through several sub-declines, the tunnel extends down to the 380m elevation, about 220 m from surface. Ore and waste rock loaded on rail cars are hauled from declines using a 1.6m diameter hoist.
HT Mining is currently focusing on mining a high-grade massive galena sheet lens in the H17 vein discovered in 2004 between exploration lines 20 and 28. The lens is 1.5m to a maximum over 5m in width, 70 m in length and over 200 m in depth, extending from the 560 m elevation down to below 360 m elevation. Two continuous chip samples from the lens collected by Silvercorp`s geologists returned the following results:
Sample 1: 10.6 oz/t Ag, 0.019 oz/t Au, and 20.62% Pb over 2.3m (true width) at the 460m elevation
Sample 2: 29.6 oz/t Ag, 0.035 oz/t Au, and 38.64% Pb over 1.4m (true width) at the 420m elevation
Mineralization and Historical Resource
Based on an independent geological report completed by Henan Bureau of Non-ferrous Geology and Mineral Resources (HGMR), surface mapping, sampling, and trenching have defined over 20 northeast-trending veins, approximately 100 meters (m) apart, within the HPG Mine permit area. Only five out the 20 veins (H15, H16, H17, H18 and H20 veins), have been subjected to limited exploration. The Ag-Au-Pb mineralization in the HPG veins is similar to that of the veins in the SGX area of the Ying Silver project in orientation and mineralization, with mineralized quartz-carbonate vein structure containing massive galena sheets being hosted in the Archean gneisses. The majority of the veins are less than 1,000 m in strike length with widths ranging from 0.5 to 5.8 m, except H15 which is over 1,350m and H17 over 2,700m in length.
A total of 31 diamond drill holes totaling 9,041m were completed on the property by HGMR from 1988 to 1992 to intercept H15, H17 and H18 veins. However, only 7 drill holes intercepted significant mineralization (see Historical Drill Result Table below). Based on this drilling and tunnel sampling (see Historical Tunnel Assay Result below), HGMR made a resource estimate for parts of the H15 and H17 veins in 1999. HGMR estimated parts of the two veins have about 2,100,000 tonnes of inferred resources grading about 0.06 oz/t Au, 6.75 oz/t Ag and 12.24% Pb, containing about 128,000 oz of Au, 14,000,000 oz of Ag, and 250,000 tonnes of Pb metal. The historical estimate is not compliant with NI 43-101, however it is believed to be reliable, subject to the fact that a portion of the resource has been mined out since the estimate. While the current operator has made some new discoveries since the estimate, the remaining Resource cannot be calculated with reliability until confirmed by the Company.
Future Exploration Program
In comparison to the Ying Project, mineralized veins at the HPG project tend to be much wider, while silver and lead grades are lower. HT Mining has focused solely on mining high grade zones as they are encountered, rather than carrying out systematic exploration tunnelling work, therefore the resource potential on the HPG property has not yet been properly established.
Silvercorp`s geologists, however, believe that the Ag-Au-Pb vein mineralization in the HPG project area is similar to the mineralized quartz-carbonate vein structure containing massive galena sheets found at the SGX area of the Ying Silver project. The site visits made by Silvercorp indicate that mineralization on the major veins H15 and H17 remain open in all directions. Once Silvercorp has taken over the HPG operation a thorough systematic underground tunnelling and drilling program will be conducted on the twenty veins.
Historical Drilling and Tunneling Results
Significant Ag-Au-Pb mineralization was intercepted by previous drilling by HGMR on three veins - H15, H17, and H18. The assay results are listed in the Table below.
Historical Drilling Results Table for H15, H17 and H18 veins-----------------------------------------------------------------------
Core
Mineral- Inter- Elev-
Drill ized From To val ation Au Ag Cu Pb
Hole Veins (m) (m) (m) (m) (g/t) (g/t) (%) (%)
-----------------------------------------------------------------------
ZK1608 H17 385.27 390.90 5.63 390 2.38 221.65 18.79
Including 386.62 387.12 0.50 2.34 580.00 60.92
-----------------------------------------------------------------------
ZK1602 H15 141.81 143.16 1.35 690 0.77 146.41 14.58
-----------------------------------------------------------------------
ZK1604 H17 145.15 145.85 0.70 733 1.12 563.00 0.57
-----------------------------------------------------------------------
H18 164.05 164.75 0.70 692 2.25 7.50 0.03
-----------------------------------------------------------------------
ZK1601 H17 67.20 68.10 0.90 760 1.90 4.40 0.01
-----------------------------------------------------------------------
ZK1606 H15 338.93 341.73 2.80 490 0.28 234.86 0.67 22.83
Including 339.93 340.73 0.80 0.27 502.00 1.13 47.08
-----------------------------------------------------------------------
ZK1608 H17 246.93 249.25 2.32 590 7.49 186.22 0.93 8.14
Including 247.74 248.54 0.80 19.40 285.00 1.26 12.65
-----------------------------------------------------------------------
ZK0002-1 H15 145.01 146.21 1.20 520 0.66 126.00 5.63
------------------------------------------------------
H17 183.88 185.08 1.20 501 0.75 122.00 0.98
-----------------------------------------------------------------------
The best interval on H17 vein was from hole ZK1608, grading 2.34 g/t Au, 580 g/t Ag, and 60.92% Pb over 0.50m (core length) at 390m elevation, approximately 390m from the surface. The best interval on H15 vein was from hole ZK1606, returning 502 g/t Ag, 47.08% Pb, and 1.13% Cu over 0.80m (core length) about 340m at 490m elevation. It is believed that these two high grade lenses has not been mined out yet.
No systematic tunneling work has been conducted by previous operators during the period from 1992 to the present. The only available assay results for channel samples collected by HGMR for Veins H15 and H17 from 1992 to 1999 are listed below.
Historical Tunnel Result Table for H15 and H17 veins--------------------------------------------------------------------
True
Veins Tunnels Elevation Width Au Ag Pb
(m) (m) (g/t) (g/t) (%)
--------------------------------------------------------------------
H15 PD(15)32 800 0.40 4.09 204.82 8.53
PD(15)31 782 1.29 1.40 129.18 14.57
SJ4 762 1.00 1.87 174.57 11.63
PD(15)30 728 1.08 0.98 110.50 15.04
PD(15)44 711 1.31 1.24 145.33 12.43
PD115 691 1.50 1.57 146.29 12.77
PD108 690 1.34 2.97 137.40 2.84
PD(15)26 650 1.30 1.95 365.08 12.95
PD114 634 1.96 1.32 227.19 18.60
PD1-H2 580 1.21 1.56 151.23 5.86
PD1-H3 580 1.13 1.25 120.16 2.28
--------------------------------------------------------------------
H17 PD119 836 0.93 19.24 93.32 1.06
PD122 828 0.60 5.48 92.90 0.05
PD121 824 1.10 25.93 56.88 0.22
PD(15)44 714 0.99 1.30 130.51 10.29
PD108 698 0.90 2.56 145.58 9.81
PD115 693 1.20 3.93 602.83 10.78
PD(15)26 653 1.37 3.46 164.44 7.96
PD114 642 1.12 4.39 285.38 19.87
PD(15)25 635 0.92 2.22 156.02 7.03
PD(15)25 613 0.94 3.30 344.28 14.86
PD1-H2 586 1.05 2.17 101.27 3.42
PD1-H3 556 1.06 1.85 201.00 5.80
PD1-H4 548 1.02 2.50 107.00 6.82
PD1-H5 507 1.12 1.36 118.50 4.85
PD1-H6 507 1.03 4.90 140.00 7.81
--------------------------------------------------------------------
Quality Control
Myles Gao, P.Geo, is the Company`s Qualified Person on the project under NI 43-101. The Company`s Quality Control/Quality Assurance Program is disclosed in the January 4, 2006 Press Release.
Silvercorp is currently developing the Ying Silver project into production through its 77.5% subsidiary, Henan Found Mining Co. Ltd., a Sino-foreign joint venture company which holds 100 per cent of the Ying project and operates under a 30-year business license. HGMR, an entity controlled by Henan provincial government, holds the remaining 22.5% interest. The HPG Mine will be held independently from Henan Found.
SILVERCORP METALS INC.
Trading Spotlight
China to protect foreign miners` rights-vice min
Sat Mar 11, 2006 6:16 AM ET
BEIJING, March 11 (Reuters) - China will protect the rights of foreign prospectors, as it seeks more exploration investment to increase domestic reserves of metals and other resources, a senior government official said on Saturday.
Although rich in many rarer ores, China has relatively poor deposits of more common ores used for industrial metals.
FACT BOX
N.TO (Inco Ltd)
Last: $53.40
Change: -0.14
Up/Down: -0.26%
AprJulOctJan
Quote
Full Chart
Company Profile
Analyst Research
News for N.TO
Falconbridge labor talks progressing well-union
Toronto stocks continue retreat on weak resources
Oils, metals drag Toronto index down almost 80 pts
Beijing is trying to entice international miners to explore for new mines, especially in the underdeveloped west, but some of them worry that the right to exploit a deposit once found is insufficiently guaranteed.
Speaking at a news conference on the sidelines of the annual session of parliament, Li Yuan, vice minister of land and resources, sought to reassure them.
"We will put in place a fair and just market mechanism for the exploration of resources ... We will straighten out all kinds of economic regulation in the field of exploration of mineral resources," Li said. "We will open up more to the outside and protect the legitimate rights and interests of foreigners who invest in mineral resources."
Li said China would also increase exploration for energy resources, including non-conventional oil and gas, without giving further details.
Foreign gold miners have made the biggest inroads in the Chinese mining sector, with some companies now operating gold mines. Multinationals such as Canadian nickel firm Inco Ltd. (N.TO: Quote, Profile, Research) and BHP Billiton Ltd. (BHP.AX: Quote, Profile, Research)(BLT.L: Quote, Profile, Research) have also invested in exploration in China.
The Ministry of Land and Resources also said in a press release on Saturday that it would "strengthen the fundamental geological surveys in national key projects".
Investors remain leery of the quality and interpretations of some of China`s survey data.
Sat Mar 11, 2006 6:16 AM ET
BEIJING, March 11 (Reuters) - China will protect the rights of foreign prospectors, as it seeks more exploration investment to increase domestic reserves of metals and other resources, a senior government official said on Saturday.
Although rich in many rarer ores, China has relatively poor deposits of more common ores used for industrial metals.
FACT BOX
N.TO (Inco Ltd)
Last: $53.40
Change: -0.14
Up/Down: -0.26%
AprJulOctJan
Quote
Full Chart
Company Profile
Analyst Research
News for N.TO
Falconbridge labor talks progressing well-union
Toronto stocks continue retreat on weak resources
Oils, metals drag Toronto index down almost 80 pts
Beijing is trying to entice international miners to explore for new mines, especially in the underdeveloped west, but some of them worry that the right to exploit a deposit once found is insufficiently guaranteed.
Speaking at a news conference on the sidelines of the annual session of parliament, Li Yuan, vice minister of land and resources, sought to reassure them.
"We will put in place a fair and just market mechanism for the exploration of resources ... We will straighten out all kinds of economic regulation in the field of exploration of mineral resources," Li said. "We will open up more to the outside and protect the legitimate rights and interests of foreigners who invest in mineral resources."
Li said China would also increase exploration for energy resources, including non-conventional oil and gas, without giving further details.
Foreign gold miners have made the biggest inroads in the Chinese mining sector, with some companies now operating gold mines. Multinationals such as Canadian nickel firm Inco Ltd. (N.TO: Quote, Profile, Research) and BHP Billiton Ltd. (BHP.AX: Quote, Profile, Research)(BLT.L: Quote, Profile, Research) have also invested in exploration in China.
The Ministry of Land and Resources also said in a press release on Saturday that it would "strengthen the fundamental geological surveys in national key projects".
Investors remain leery of the quality and interpretations of some of China`s survey data.
Following the Trail of Mining Mergers and Acquisitions
NovaGold Resources Inc.,Silvercorp Metals Inc., Endeavour Silver Corp., Canarc Resource Corp., and Hunter Dickinson Inc. Offer Their Viewpoints
By Jennifer Lee
March, 2006
With last year’s surge in merger and acquisition activity in the market, the question arises what implications this will have for future trends in the mining sector. Other events which could be seen to have impact on change in the industry include the shift in global regulatory policies, the prospect of silver becoming an exchange traded fund (ETF) as well as unfolding prospects for diversification. Spotting the departure point for these upcoming changes could help indicate what direction things are moving, over a longer term period.
In January this year, S &P credit analysts Reginaldo Takara, Sergio Fuentes and Juan P. Becerra indicated that M&A activity should have a significant effect on mining companies this year, “as shareholders increase the pressure on the miners to share their cash windfalls.” However supply and demand growth from developing regions such as China, will continue to effect market imbalances, increased competition and pricing swings for raw materials, as well as considerable fluctuations in profitability and cash flows.
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On the topic of supply and demand, director of Global Mining Research for RBC Capital Markets, Stephen Walker stated towards the end of last year that, “since the majority of global silver production occurs as a by-product of gold, copper and lead-zinc mining, investors have limited opportunities to take advantage of this precious metal’s rising popularity. We think there are attractive opportunities for investors in this sector today, given the outlook for continued demand from industry, jewelry, flatware and photography users, declining aboveground stockpiles and the creation of Exchange Traded Funds (ETFs) backed by silver bullion.”
Taking a look at some of they key influential factors behind gold, Greg Johnson, Vice President of Corporate Communications for NovaGold Resources Inc. (AMEX:NG; TSX:NG) commented, “we see the revaluation of gold back toward more historic ratios relative to the value of the major stock indexes along with increased purchase of gold by central banks to diversify their holdings beyond the US dollar, as key drivers for gold’s continued advance over coming years.” Additionally, the Bank of China recently released reports that it will allow holders of US accounts to trade gold in the country through to May 27th, 2006.
Whether these latest transitions will have much of an impact on gold in general, remains to be seen. However, Matthew Turner, of Virtual Metals Consulting Limited commented that in his opinion, it “will naturally have some effect, which can only be positive. Furthermore the buy/sell spread is going to be cut, which will in effect make gold cheaper. So this too is positive. However, I think one can overstate both the Chinese appetite for gold and the impact it will have on world prices. China is unlikely to be another India-gold doesn’t play the same role and there’s no reason why it should.”
In light of this recent trail of mergers and acquisitions in the market last year, there is a need to understand how companies believe they are poised to benefit from this. Hugh Clarke, director of Investor Relations at Endeavour Silver Corp. (TSX: EDR) offered insight that, “last year’s trend in mergers and acquisitions was a natural phenomenon, given the market conditions. It is inevitable that this trend will continue and accelerate in the near future. The impact on the silver industry is quite dramatic because there are very few true silver companies around the world. Any time a silver company disappears through acquisition, it creates less supply for investors. The recent acquisition of Western Silver Corp. by Glamis Gold is a case in point as Western was a company that was scheduled to be in production next year.”
Taking a look at his company, Hugh stated that, “Endeavour is aggressively looking to expand its operations in Mexico as we speak. We are in advanced negotiations with three major acquisitions and by this I am referring to dealing with companies who are either in production or very near this stage.”
Last year marked a major shift as deals between Barrick Gold Corp. and Placer Dome were sealed to create one of the biggest combined gold producing companies in the world. Also, in February Nevada based Glamis Gold Ltd. (NYSE:GLG; TSX GLG) announced its intention to acquire Western Silver Corp. (TSX: WTC.TO; AMEX:WTZ) for approximately $1.2 billion. Western Silver, still a development stage company, has as its principal mine the Penasquito site in central Mexico, which also contains gold, zinc and lead opportunities. Glamis CEO Kevin McArthur recently stated that, “Western Silver’s Penasquito project is a world-class development asset that will significantly increase our gold and silver reserves and enhance our sector leading growth profile.”
Canarc Resource Corp. (TSX: CCM;OTCBB: CRCUF) Gregg Wilson, Manager of Investor Relations said, “mergers and acquisitions such as we have seen over the past year are a normal part of the commodities cycle. Companies who are wanting to grow or replace a depleting resource will acquire other companies or projects to accomplish this end. This is often more economical than the expense of exploring for new discoveries and bringing them into production.” In terms of where the Canarc positions itself amidst this recent market change, Wilson says “we are focused on making Canarc a mid-tier gold producer and we’ve begun the steps to accomplish this through our new Polaris project in Northern British Columbia. We are exploring, developing and aggressively looking for gold projects to make this happen.”
When asked where the company stands on diversifying its operations in Suriname or even further globally, Wilson responded, “We are looking at acquisitions in different jurisdictions throughout the world, with a focus on the Americas. However if the right project came along, we would have an interest to explore opportunities in any part of the world.”
As China is seen to be relaxing regulatory measures, creating a more encouraging environment for exploration companies to enter the market, the wonder is whether or not this will lead mining companies into expanding their operations. Expressing his thoughts on the matter Turner implied that, “China certainly is thought to have large gold reserves, though I imagine the big mining companies will remain reluctant to commit there and will concentrate on more established foreign countries for expansion, until they are convinced it is going to be a success.”
Commenting on the latest pattern of mergers and acquisitions in the mining sector, Michael Turner said, “the takeover of Placer Dome by Barrick is likely to lead to a new wave of mergers and acquisitions. Many companies seem happier expanding in this way than through new mining development. There is also some desire to be the, “no. 1 producer.”
Offering further insight on this side of the world, Cathy Fong, Vice President of Corporate Development for Silvercorp Metals Inc. (TSX: SVM) commented that overall, “we see that China is very progressive in their business dealings and that their policy is very pro-business. That is so inviting for foreign companies right now and we would definitely like to expand, not only in silver mines but in other mining opportunities as well.” When asked how the company views their involvement in the country, Fong replied, “our focus in China involves knowing the culture (including the business culture) and understanding the geology and how to operate in the country as a mining producer.”
Beyond the issue of mergers and acquisitions however, lies the supply demand issue, which still remains questionable as to whether the supply issue will be helped along over the coming years. As we see the market shift, companies moving to consolidate, the question remains, does this mean they are doing anything about the supply problem and how will it be improved over the long term? With so many priorities on the agenda, in solving the puzzle to remain strong amidst global competition, just how much forethought is being put into the future of precious metals reserves?
Hunter Dickinson Inc., a private company located in Vancouver, B.C. Canada manages publicly traded companies in all phases of mineral and mining exploration around the world. When their Investor Relations division says that, “sure, a large-scale merger will likely deliver cost savings at the administrative level; however, on aggregate, these transactions do not replace one ounce of the rapidly depleting Reserves. Once the waves of post merger integration have smoothed, we will see a further increase in appetite amongst majors to earn into junior mining assets that have projects close to production.”
NovaGold Resources Inc.,Silvercorp Metals Inc., Endeavour Silver Corp., Canarc Resource Corp., and Hunter Dickinson Inc. Offer Their Viewpoints
By Jennifer Lee
March, 2006
With last year’s surge in merger and acquisition activity in the market, the question arises what implications this will have for future trends in the mining sector. Other events which could be seen to have impact on change in the industry include the shift in global regulatory policies, the prospect of silver becoming an exchange traded fund (ETF) as well as unfolding prospects for diversification. Spotting the departure point for these upcoming changes could help indicate what direction things are moving, over a longer term period.
In January this year, S &P credit analysts Reginaldo Takara, Sergio Fuentes and Juan P. Becerra indicated that M&A activity should have a significant effect on mining companies this year, “as shareholders increase the pressure on the miners to share their cash windfalls.” However supply and demand growth from developing regions such as China, will continue to effect market imbalances, increased competition and pricing swings for raw materials, as well as considerable fluctuations in profitability and cash flows.
advertisement
On the topic of supply and demand, director of Global Mining Research for RBC Capital Markets, Stephen Walker stated towards the end of last year that, “since the majority of global silver production occurs as a by-product of gold, copper and lead-zinc mining, investors have limited opportunities to take advantage of this precious metal’s rising popularity. We think there are attractive opportunities for investors in this sector today, given the outlook for continued demand from industry, jewelry, flatware and photography users, declining aboveground stockpiles and the creation of Exchange Traded Funds (ETFs) backed by silver bullion.”
Taking a look at some of they key influential factors behind gold, Greg Johnson, Vice President of Corporate Communications for NovaGold Resources Inc. (AMEX:NG; TSX:NG) commented, “we see the revaluation of gold back toward more historic ratios relative to the value of the major stock indexes along with increased purchase of gold by central banks to diversify their holdings beyond the US dollar, as key drivers for gold’s continued advance over coming years.” Additionally, the Bank of China recently released reports that it will allow holders of US accounts to trade gold in the country through to May 27th, 2006.
Whether these latest transitions will have much of an impact on gold in general, remains to be seen. However, Matthew Turner, of Virtual Metals Consulting Limited commented that in his opinion, it “will naturally have some effect, which can only be positive. Furthermore the buy/sell spread is going to be cut, which will in effect make gold cheaper. So this too is positive. However, I think one can overstate both the Chinese appetite for gold and the impact it will have on world prices. China is unlikely to be another India-gold doesn’t play the same role and there’s no reason why it should.”
In light of this recent trail of mergers and acquisitions in the market last year, there is a need to understand how companies believe they are poised to benefit from this. Hugh Clarke, director of Investor Relations at Endeavour Silver Corp. (TSX: EDR) offered insight that, “last year’s trend in mergers and acquisitions was a natural phenomenon, given the market conditions. It is inevitable that this trend will continue and accelerate in the near future. The impact on the silver industry is quite dramatic because there are very few true silver companies around the world. Any time a silver company disappears through acquisition, it creates less supply for investors. The recent acquisition of Western Silver Corp. by Glamis Gold is a case in point as Western was a company that was scheduled to be in production next year.”
Taking a look at his company, Hugh stated that, “Endeavour is aggressively looking to expand its operations in Mexico as we speak. We are in advanced negotiations with three major acquisitions and by this I am referring to dealing with companies who are either in production or very near this stage.”
Last year marked a major shift as deals between Barrick Gold Corp. and Placer Dome were sealed to create one of the biggest combined gold producing companies in the world. Also, in February Nevada based Glamis Gold Ltd. (NYSE:GLG; TSX GLG) announced its intention to acquire Western Silver Corp. (TSX: WTC.TO; AMEX:WTZ) for approximately $1.2 billion. Western Silver, still a development stage company, has as its principal mine the Penasquito site in central Mexico, which also contains gold, zinc and lead opportunities. Glamis CEO Kevin McArthur recently stated that, “Western Silver’s Penasquito project is a world-class development asset that will significantly increase our gold and silver reserves and enhance our sector leading growth profile.”
Canarc Resource Corp. (TSX: CCM;OTCBB: CRCUF) Gregg Wilson, Manager of Investor Relations said, “mergers and acquisitions such as we have seen over the past year are a normal part of the commodities cycle. Companies who are wanting to grow or replace a depleting resource will acquire other companies or projects to accomplish this end. This is often more economical than the expense of exploring for new discoveries and bringing them into production.” In terms of where the Canarc positions itself amidst this recent market change, Wilson says “we are focused on making Canarc a mid-tier gold producer and we’ve begun the steps to accomplish this through our new Polaris project in Northern British Columbia. We are exploring, developing and aggressively looking for gold projects to make this happen.”
When asked where the company stands on diversifying its operations in Suriname or even further globally, Wilson responded, “We are looking at acquisitions in different jurisdictions throughout the world, with a focus on the Americas. However if the right project came along, we would have an interest to explore opportunities in any part of the world.”
As China is seen to be relaxing regulatory measures, creating a more encouraging environment for exploration companies to enter the market, the wonder is whether or not this will lead mining companies into expanding their operations. Expressing his thoughts on the matter Turner implied that, “China certainly is thought to have large gold reserves, though I imagine the big mining companies will remain reluctant to commit there and will concentrate on more established foreign countries for expansion, until they are convinced it is going to be a success.”
Commenting on the latest pattern of mergers and acquisitions in the mining sector, Michael Turner said, “the takeover of Placer Dome by Barrick is likely to lead to a new wave of mergers and acquisitions. Many companies seem happier expanding in this way than through new mining development. There is also some desire to be the, “no. 1 producer.”
Offering further insight on this side of the world, Cathy Fong, Vice President of Corporate Development for Silvercorp Metals Inc. (TSX: SVM) commented that overall, “we see that China is very progressive in their business dealings and that their policy is very pro-business. That is so inviting for foreign companies right now and we would definitely like to expand, not only in silver mines but in other mining opportunities as well.” When asked how the company views their involvement in the country, Fong replied, “our focus in China involves knowing the culture (including the business culture) and understanding the geology and how to operate in the country as a mining producer.”
Beyond the issue of mergers and acquisitions however, lies the supply demand issue, which still remains questionable as to whether the supply issue will be helped along over the coming years. As we see the market shift, companies moving to consolidate, the question remains, does this mean they are doing anything about the supply problem and how will it be improved over the long term? With so many priorities on the agenda, in solving the puzzle to remain strong amidst global competition, just how much forethought is being put into the future of precious metals reserves?
Hunter Dickinson Inc., a private company located in Vancouver, B.C. Canada manages publicly traded companies in all phases of mineral and mining exploration around the world. When their Investor Relations division says that, “sure, a large-scale merger will likely deliver cost savings at the administrative level; however, on aggregate, these transactions do not replace one ounce of the rapidly depleting Reserves. Once the waves of post merger integration have smoothed, we will see a further increase in appetite amongst majors to earn into junior mining assets that have projects close to production.”
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Silvercorp Receives Mining Permit on Ying Silver Project, Henan, China
10:26 EST Thursday, March 30, 2006
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 30, 2006) - Silvercorp Metals Inc. ( "Silvercorp" ) is very pleased to report that it has received a mining permit issued by the Department of Land and Resources of Henan Province, covering 9.945 square kilometers of the SGX area within the Ying Silver Project, where the major exploration effort by Silvercorp has been focused. The permit was issued on the terms applied for, and allows operation of a 600 tonne per day underground mine within the permit area to produce silver, lead and zinc ores. The production rate can be increased in the future through amending the existing mining permit when expanded resource estimates have been filed with the Department of Land and Resources of Henan.
As planned, the 35,000 metres of exploration and development tunneling completed during the last 18 months allows mining operations to be commenced immediately without incurring further capital expenditures. Between now and March 31, 2007, Silvercorp anticipates the production rate will gradually reach the designed 600 tonnes per day capacity, for total production during the period of 140,000 tonnes of materials, containing 70,000 tonnes of high grade ores plus 70,000 tonnes of waste rock. The anticipated grades for the 70,000 tonnes of high grade ores are 45 ounces per tonne silver, 32% lead, and 6.6% zinc. The average realized prices net of smelter charges and value added tax during the first 3 months of 2006 (based on US$3.1 million revenues already realized from exploration production during the period) are US$7.6 per ounce for silver, US$0.46 per pound for lead, and US$0.62 per pound for zinc.
Silvercorp will focus on demonstrating the ability to mine narrow veins to the full designed production capacity, as well as constructing a 600 tonne per day mill. In addition, Silvercorp has also planned a program of 31,000 metres (m) of mining, development, and exploration tunnels and 32,800m of drilling, including 71 underground holes (25,705m) and 16 surface holes (7,090m) for 2006 in order to expand the high grade silver resources at the Ying project. The approximately US$15 million budget for the mining production, exploration and development program will be financed entirely from anticipated production revenues.
Development of the Ying Project is carried out through Silvercorp's 77.5% subsidiary, Henan Found Mining Co. Ltd., a Sino-foreign joint venture company which holds 100% of the Ying Project and operates under a 30-year business license. Myles Gao, P.Geo, is the Company's Qualified Person on the project under NI 43-101.
Quality Control
The Company's Quality Control/Quality Assurance Program is disclosed in the January 4, 2006 Press Release.
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Silvercorp Metals Inc.
Rui Feng
Chairman & CEO
(604) 669-9397
or
Silvercorp Metals Inc.
Cathy Fong
VP Corporate Development
(604) 669-9397
(604) 669-9387 (FAX)
info@silvercorp.ca
www.silvercorp.ca
über http://www.tsx.com/
Get Quote: SVM
[rechte Spalte:] <NEWS> :
Silvercorp Receives Mining Permit on Ying Silver Project, Henan, China
10:26 EST Thursday, March 30, 2006
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 30, 2006) - Silvercorp Metals Inc. ( "Silvercorp" ) is very pleased to report that it has received a mining permit issued by the Department of Land and Resources of Henan Province, covering 9.945 square kilometers of the SGX area within the Ying Silver Project, where the major exploration effort by Silvercorp has been focused. The permit was issued on the terms applied for, and allows operation of a 600 tonne per day underground mine within the permit area to produce silver, lead and zinc ores. The production rate can be increased in the future through amending the existing mining permit when expanded resource estimates have been filed with the Department of Land and Resources of Henan.
As planned, the 35,000 metres of exploration and development tunneling completed during the last 18 months allows mining operations to be commenced immediately without incurring further capital expenditures. Between now and March 31, 2007, Silvercorp anticipates the production rate will gradually reach the designed 600 tonnes per day capacity, for total production during the period of 140,000 tonnes of materials, containing 70,000 tonnes of high grade ores plus 70,000 tonnes of waste rock. The anticipated grades for the 70,000 tonnes of high grade ores are 45 ounces per tonne silver, 32% lead, and 6.6% zinc. The average realized prices net of smelter charges and value added tax during the first 3 months of 2006 (based on US$3.1 million revenues already realized from exploration production during the period) are US$7.6 per ounce for silver, US$0.46 per pound for lead, and US$0.62 per pound for zinc.
Silvercorp will focus on demonstrating the ability to mine narrow veins to the full designed production capacity, as well as constructing a 600 tonne per day mill. In addition, Silvercorp has also planned a program of 31,000 metres (m) of mining, development, and exploration tunnels and 32,800m of drilling, including 71 underground holes (25,705m) and 16 surface holes (7,090m) for 2006 in order to expand the high grade silver resources at the Ying project. The approximately US$15 million budget for the mining production, exploration and development program will be financed entirely from anticipated production revenues.
Development of the Ying Project is carried out through Silvercorp's 77.5% subsidiary, Henan Found Mining Co. Ltd., a Sino-foreign joint venture company which holds 100% of the Ying Project and operates under a 30-year business license. Myles Gao, P.Geo, is the Company's Qualified Person on the project under NI 43-101.
Quality Control
The Company's Quality Control/Quality Assurance Program is disclosed in the January 4, 2006 Press Release.
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Silvercorp Metals Inc.
Rui Feng
Chairman & CEO
(604) 669-9397
or
Silvercorp Metals Inc.
Cathy Fong
VP Corporate Development
(604) 669-9397
(604) 669-9387 (FAX)
info@silvercorp.ca
www.silvercorp.ca
News
über http://www.tsx.com/
Get Quote: SVM
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Silvercorp Arranges Bought Deal Financing to Raise $41,542,500
08:13 EDT Monday, April 03, 2006
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 3, 2006) -
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Silvercorp Metals Inc. ( "Silvercorp" ) (TSX:SVM) has today entered into a letter agreement with Sprott Securities Inc. and GMP Securities L.P as co-leader managers and co-bookrunners, together with a syndicate of other dealers including, CIBC World Markets Inc., MGI Securities Inc., Salman Partners Inc. and BMO Nesbitt Burns Ltd., ( collectively, the "Underwriters" ), pursuant to which the Underwriters and the underwriting syndicate have reached agreement to buy and sell to the public 2,175,000 units from the Company ( "Units" ) at a price of $19.10 per Unit, representing an aggregate amount of issue of $41,542,500 ( "Offering" ). Closing is expected on or about April 26 2006 ( "Closing Date" ). Each Unit shall entitle the unitholder to acquire one common share of the Company and warrant to purchase one half of a common share of the Company, such warrant to be exercisable for a period of eighteen months from the Closing Date at a strike price of $24 per common share. In addition, the Company has granted the Underwriters an option, expiring 30 days after the Closing Date, to purchase for resale up to 15% of the Offering.
The net proceeds of the financing will be used for general corporate purposes including potential future acquisitions.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. These securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Silvercorp Metals Inc.
Rui Feng
Chairman & CEO
(604) 669-9397
(604) 669-9387 (FAX)
or
Silvercorp Metals Inc.
Cathy Fong
VP Corporate Development
(604) 669-9397
(604) 669-9387 (FAX)
info@silvercorp.ca
www.silvercorp.ca
über http://www.tsx.com/
Get Quote: SVM
[rechte Spalte:] <NEWS> :
Silvercorp Arranges Bought Deal Financing to Raise $41,542,500
08:13 EDT Monday, April 03, 2006
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 3, 2006) -
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Silvercorp Metals Inc. ( "Silvercorp" ) (TSX:SVM) has today entered into a letter agreement with Sprott Securities Inc. and GMP Securities L.P as co-leader managers and co-bookrunners, together with a syndicate of other dealers including, CIBC World Markets Inc., MGI Securities Inc., Salman Partners Inc. and BMO Nesbitt Burns Ltd., ( collectively, the "Underwriters" ), pursuant to which the Underwriters and the underwriting syndicate have reached agreement to buy and sell to the public 2,175,000 units from the Company ( "Units" ) at a price of $19.10 per Unit, representing an aggregate amount of issue of $41,542,500 ( "Offering" ). Closing is expected on or about April 26 2006 ( "Closing Date" ). Each Unit shall entitle the unitholder to acquire one common share of the Company and warrant to purchase one half of a common share of the Company, such warrant to be exercisable for a period of eighteen months from the Closing Date at a strike price of $24 per common share. In addition, the Company has granted the Underwriters an option, expiring 30 days after the Closing Date, to purchase for resale up to 15% of the Offering.
The net proceeds of the financing will be used for general corporate purposes including potential future acquisitions.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. These securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Silvercorp Metals Inc.
Rui Feng
Chairman & CEO
(604) 669-9397
(604) 669-9387 (FAX)
or
Silvercorp Metals Inc.
Cathy Fong
VP Corporate Development
(604) 669-9397
(604) 669-9387 (FAX)
info@silvercorp.ca
www.silvercorp.ca
News
über http://www.tsx.com/
Get Quote: SVM
[rechte Spalte:] <NEWS> :
Silvercorp Metals Inc.: Technical Update on the Ying Silver Mine, Henan Province, China
16:30 EDT Friday, April 21, 2006
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 21, 2006) - Silvercorp Metals Inc. ( "Silvercorp" ) (TSX:SVM) is pleased to report that a new National Instrument ( "NI" ) 43-101 Technical Update Report on the Ying Project ( the "Update Report" ) dated April 18, 2006 has been completed and is available for review on the SEDAR system. The Update Report is in the nature of a preliminary assessment of the Ying Mine, based on the Measured and Indicated Resource in place as at April 2005, and covers the development and exploration work completed to date that has enabled the Ying Mine to commence production.
An update of the Resource on the Ying Project resulting from the extensive work done in the last year is expected to be completed in May, 2006.
The Update Report is authored by Chris Broili, C.P. Geo., L.P. Geo., and Jasman W. Yee, P.Eng., both independent Qualified Persons, and Cathy Shuk Yim Fong, P.Eng., a Qualified Person and V.P. Corporate Development for Silvercorp. Development of the Ying Project is carried out through Silvercorp's 77.5% subsidiary, Henan Found Mining Co. Ltd. ( "Found" ), a Sino-foreign joint venture company which holds 100% of the Ying Project and operates under a 30-year business license.
The following summarizes the Update Report:
Recent work on the Ying Property has defined a high-grade Silver-Lead-Zinc underground mineral Resource in veins averaging 0.42 meters (m) thick. The Resource was established by channel sampling of new underground tunnels, and underground drilling. Mineralization is hosted in a set of quartz-carbonate veins crosscutting Precambrian age mafic and felsic gneisses.
The Update Report is based on the Resource estimate calculated a year ago in Chris Broili's April 18, 2005 NI 43-101 Technical Report. ( the "2005 Report" ), where five veins on the Ying property were reported to have a Measured and Indicated Resource of 420,453 tonnes averaging 0.42 m wide with an average grade of 1,393 gram/tonne ( "g/t" ) silver ( "Ag" ), 32.76% lead ( "Pb" ), 9.99% zinc ( "Zn" ). The contained metals for the Measured and Indicated Resource are 18.8 million ounces of Ag, 137,730 tonnes of Pb, and 42,004 tonnes of Zn. The Inferred Resource is 495,205 tonnes also averaging 0.42 m wide, with a grade of 1,539 g/t Ag, 35.01% Pb, 9.56% Zn. This Inferred Resource contains 24.5 million ounces of Ag, 173,394 tonnes of Pb, and 47,323 tonnes of Zn.
Of the 28,957m of tunnels completed since August 2004, about 14,000m are mining development tunnels. As a result, within 2 months of Found receiving the mining permit, preliminary production could start from over 20 initial stopes that have been developed at the 518m elevation ( "L" ) and 480m L for S14 and S6 veins, 490m L and 460m L for S2 and S2E veins, 534m L, 570m L, 610m L, and 640m L for S16W, S16W1, and S16E veins, 600m L for S7 vein, 570m L and 640m L for S8 vein.
The custom milling during 2005 of 40,711 tonnes of diluted by-product ore extracted from exploration and development tunnels indicates that Ag, Pb, and Zn metals can be easily recovered from Ying Project ore. The Pb-Ag and Zn concentrate produced satisfies smelter requirements. Milling tests have also confirmed the economic viability of using off-site flotation mills to treat diluted ore.
Concentrate sale contracts have been signed with several lead and zinc smelters on terms of delivery at mine site against cash advanced. The payable prices for lead and silver metal in lead-silver concentrate are 76% and 75% of spot prices, respectively, quoted on the Shanghai Metal Exchange ( "SME" ) on the delivery date. The payable price for zinc metal in zinc concentrate is 70% of the SME spot price. China levies a 13% value-added tax (VAT) on sales of lead, zinc, silver, copper and other metal products, and the quoted prices for silver, lead and zinc on the Shanghai Metal Exchange are about 13% above World prices due to the Chinese government levying a 13% Value-added Tax on metal imports.
Three shafts, now each equipped with hoists, are being sunk and are expected to reach the intended depth of 210m L by the end of 2006. The shafts are designed to be 3.8m in finished diameter. Each shaft will be equipped with a cage guarded by four steel cables. Each Shaft is capable of handling 150,000 tonnes of material per annum (based on 300 days/year).
Ten shrinkage stopes are currently being extracted at the Ying Mine and it is anticipated that an additional 12 to 15 stopes will be under extraction in 6 months to reach a phase one mining capacity of 600 tonne per day ( "tpd" ). As a minimum of 5 portal accesses to 13 mineralized veins in which high grade ore shoots have been delineated, the Company expects that in time it can reach its production goal, without incurring substantial capital cost. The first 3 years of production is planned to come mainly through horizontal portals and thereafter, shafts will be used.
Based only on the Measured + Indicated Resources in Chris Broili's 2005 Report and using a 100% dilution factor and 90% recovery rate for the high grade resources, the Mineable, Measured + Indicated Resources are calculated to be 756,815 tonnes grading 696 g/t (22.3 oz/t) Ag, 16.36% Pb and 4.99% Zn. Based on a mining rate of 140,000 tonnes for 2006/2007 fiscal year and 200,000 tonnes per year thereafter, the above resource will last for four year's mine production. An updated Resource estimate based on the extensive exploration and development work completed from April 1 2005 to March 31, 2006 is being prepared and is expected to be available by the end of May 2006. Mine production is anticipated to be extended with increased mineral resources.
Construction of a 600 tpd mill is underway about 17 km from the Ying Property and is expected to be completed by the end of March 2007. During the first year of production, Found will continue to use custom mills to process ore. Starting from April 1, 2007 Found's own 600 tpd flotation mill is expected to be in production, producing Pb-Ag and Zn concentrate.
Based on net metal prices of US$7.5/oz Ag, US$0.34/lb Pb, and US$0.71 lb Zn and assuming a total production cost of US$48.2 per tonne of ore for the first year and US$41.6 per tonne of ore thereafter, and using recovery rates of 95% for Pb, 90% for Ag, and 75% for Zn, Silvercorp's share (77.5%) of projected net profit is anticipated to be US$30.06 million for the 1st year, US$43.6 million for the 2nd year, and US$37.06 million for the 3rd and 4th years, respectively. The capital payback period is projected to be zero as all the capital expenditures are projected to be financed from 1st year cash flow. For foreign invested companies such as Found, income is tax free for the first 2 years, taxable at 15% for the 3rd to 5th years and 30% thereafter.
If Pb and Zn revenue is used to cover production cost, then unit Ag production cost adjusted for Pb and Zn credit is projected to be negative US$6.3 to negative US$6.5 per ounce. If Pb and Zn are treated as free credits and only Ag revenue is used to cover the production cost, then the unit Ag production cost is projected to be US$1.99 to $1.79 per ounce.
Myles Gao, P.Geo, is the Companys Qualified Person on the project under NI 43-101.
SILVERCORP METALS INC.
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements. Production and revenue projections are based not on mineral reserves but on mineral resources which do not have demonstrated economic viability.
FOR FURTHER INFORMATION PLEASE CONTACT:
Silvercorp Metals Inc.
Rui Feng
Chairman & CEO
(604) 669-9397
or
Silvercorp Metals Inc.
Cathy Fong
VP Corporate Development
(604) 669-9397
(604) 669-9387 (FAX)
info@silvercorp.ca
www.silvercorp.ca
über http://www.tsx.com/
Get Quote: SVM
[rechte Spalte:] <NEWS> :
Silvercorp Metals Inc.: Technical Update on the Ying Silver Mine, Henan Province, China
16:30 EDT Friday, April 21, 2006
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 21, 2006) - Silvercorp Metals Inc. ( "Silvercorp" ) (TSX:SVM) is pleased to report that a new National Instrument ( "NI" ) 43-101 Technical Update Report on the Ying Project ( the "Update Report" ) dated April 18, 2006 has been completed and is available for review on the SEDAR system. The Update Report is in the nature of a preliminary assessment of the Ying Mine, based on the Measured and Indicated Resource in place as at April 2005, and covers the development and exploration work completed to date that has enabled the Ying Mine to commence production.
An update of the Resource on the Ying Project resulting from the extensive work done in the last year is expected to be completed in May, 2006.
The Update Report is authored by Chris Broili, C.P. Geo., L.P. Geo., and Jasman W. Yee, P.Eng., both independent Qualified Persons, and Cathy Shuk Yim Fong, P.Eng., a Qualified Person and V.P. Corporate Development for Silvercorp. Development of the Ying Project is carried out through Silvercorp's 77.5% subsidiary, Henan Found Mining Co. Ltd. ( "Found" ), a Sino-foreign joint venture company which holds 100% of the Ying Project and operates under a 30-year business license.
The following summarizes the Update Report:
Recent work on the Ying Property has defined a high-grade Silver-Lead-Zinc underground mineral Resource in veins averaging 0.42 meters (m) thick. The Resource was established by channel sampling of new underground tunnels, and underground drilling. Mineralization is hosted in a set of quartz-carbonate veins crosscutting Precambrian age mafic and felsic gneisses.
The Update Report is based on the Resource estimate calculated a year ago in Chris Broili's April 18, 2005 NI 43-101 Technical Report. ( the "2005 Report" ), where five veins on the Ying property were reported to have a Measured and Indicated Resource of 420,453 tonnes averaging 0.42 m wide with an average grade of 1,393 gram/tonne ( "g/t" ) silver ( "Ag" ), 32.76% lead ( "Pb" ), 9.99% zinc ( "Zn" ). The contained metals for the Measured and Indicated Resource are 18.8 million ounces of Ag, 137,730 tonnes of Pb, and 42,004 tonnes of Zn. The Inferred Resource is 495,205 tonnes also averaging 0.42 m wide, with a grade of 1,539 g/t Ag, 35.01% Pb, 9.56% Zn. This Inferred Resource contains 24.5 million ounces of Ag, 173,394 tonnes of Pb, and 47,323 tonnes of Zn.
Of the 28,957m of tunnels completed since August 2004, about 14,000m are mining development tunnels. As a result, within 2 months of Found receiving the mining permit, preliminary production could start from over 20 initial stopes that have been developed at the 518m elevation ( "L" ) and 480m L for S14 and S6 veins, 490m L and 460m L for S2 and S2E veins, 534m L, 570m L, 610m L, and 640m L for S16W, S16W1, and S16E veins, 600m L for S7 vein, 570m L and 640m L for S8 vein.
The custom milling during 2005 of 40,711 tonnes of diluted by-product ore extracted from exploration and development tunnels indicates that Ag, Pb, and Zn metals can be easily recovered from Ying Project ore. The Pb-Ag and Zn concentrate produced satisfies smelter requirements. Milling tests have also confirmed the economic viability of using off-site flotation mills to treat diluted ore.
Concentrate sale contracts have been signed with several lead and zinc smelters on terms of delivery at mine site against cash advanced. The payable prices for lead and silver metal in lead-silver concentrate are 76% and 75% of spot prices, respectively, quoted on the Shanghai Metal Exchange ( "SME" ) on the delivery date. The payable price for zinc metal in zinc concentrate is 70% of the SME spot price. China levies a 13% value-added tax (VAT) on sales of lead, zinc, silver, copper and other metal products, and the quoted prices for silver, lead and zinc on the Shanghai Metal Exchange are about 13% above World prices due to the Chinese government levying a 13% Value-added Tax on metal imports.
Three shafts, now each equipped with hoists, are being sunk and are expected to reach the intended depth of 210m L by the end of 2006. The shafts are designed to be 3.8m in finished diameter. Each shaft will be equipped with a cage guarded by four steel cables. Each Shaft is capable of handling 150,000 tonnes of material per annum (based on 300 days/year).
Ten shrinkage stopes are currently being extracted at the Ying Mine and it is anticipated that an additional 12 to 15 stopes will be under extraction in 6 months to reach a phase one mining capacity of 600 tonne per day ( "tpd" ). As a minimum of 5 portal accesses to 13 mineralized veins in which high grade ore shoots have been delineated, the Company expects that in time it can reach its production goal, without incurring substantial capital cost. The first 3 years of production is planned to come mainly through horizontal portals and thereafter, shafts will be used.
Based only on the Measured + Indicated Resources in Chris Broili's 2005 Report and using a 100% dilution factor and 90% recovery rate for the high grade resources, the Mineable, Measured + Indicated Resources are calculated to be 756,815 tonnes grading 696 g/t (22.3 oz/t) Ag, 16.36% Pb and 4.99% Zn. Based on a mining rate of 140,000 tonnes for 2006/2007 fiscal year and 200,000 tonnes per year thereafter, the above resource will last for four year's mine production. An updated Resource estimate based on the extensive exploration and development work completed from April 1 2005 to March 31, 2006 is being prepared and is expected to be available by the end of May 2006. Mine production is anticipated to be extended with increased mineral resources.
Construction of a 600 tpd mill is underway about 17 km from the Ying Property and is expected to be completed by the end of March 2007. During the first year of production, Found will continue to use custom mills to process ore. Starting from April 1, 2007 Found's own 600 tpd flotation mill is expected to be in production, producing Pb-Ag and Zn concentrate.
Based on net metal prices of US$7.5/oz Ag, US$0.34/lb Pb, and US$0.71 lb Zn and assuming a total production cost of US$48.2 per tonne of ore for the first year and US$41.6 per tonne of ore thereafter, and using recovery rates of 95% for Pb, 90% for Ag, and 75% for Zn, Silvercorp's share (77.5%) of projected net profit is anticipated to be US$30.06 million for the 1st year, US$43.6 million for the 2nd year, and US$37.06 million for the 3rd and 4th years, respectively. The capital payback period is projected to be zero as all the capital expenditures are projected to be financed from 1st year cash flow. For foreign invested companies such as Found, income is tax free for the first 2 years, taxable at 15% for the 3rd to 5th years and 30% thereafter.
If Pb and Zn revenue is used to cover production cost, then unit Ag production cost adjusted for Pb and Zn credit is projected to be negative US$6.3 to negative US$6.5 per ounce. If Pb and Zn are treated as free credits and only Ag revenue is used to cover the production cost, then the unit Ag production cost is projected to be US$1.99 to $1.79 per ounce.
Myles Gao, P.Geo, is the Companys Qualified Person on the project under NI 43-101.
SILVERCORP METALS INC.
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements. Production and revenue projections are based not on mineral reserves but on mineral resources which do not have demonstrated economic viability.
FOR FURTHER INFORMATION PLEASE CONTACT:
Silvercorp Metals Inc.
Rui Feng
Chairman & CEO
(604) 669-9397
or
Silvercorp Metals Inc.
Cathy Fong
VP Corporate Development
(604) 669-9397
(604) 669-9387 (FAX)
info@silvercorp.ca
www.silvercorp.ca
Antwort auf Beitrag Nr.: 21.291.557 von TomCole am 24.04.06 10:19:42das sollte man sich anschauen, sehr gutll!
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