China’s largest silver producer

$48.6-million in cash, strong operations and the lowest production costs among its global peers.

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Message: THIRD QUARTER HIGHLIGHTS

THIRD QUARTER HIGHLIGHTS

posted on Feb 09, 2010 05:52PM

THIRD QUARTER HIGHLIGHTS

During the quarter ended December 31, 2009 ("Q3 2010"), financial highlights included:

- Net earnings of $12.4 million, compared with a loss of $33.7 million in the same quarter last year, and up 39% compared to $8.9 million in the previous quarter ("Q2 2010");

- Earnings per share of $0.08, compared with a loss of $0.22 per share in the same quarter last year, and $0.02 higher compared to earnings per share of $0.06 in Q2 2010;

- Record silver production of 1.22 million ounces and 16.2 million pounds of lead, representing 12% and 10% increases, respectively, compared to the same quarter last year;

- Total production cost of negative $6.87 per ounce of silver and cash cost of negative $7.73 per ounce of silver, net credit of other metals, making Silvercorp an industry leading low-cost silver producer;

- Cash flows from operating activities of $15.9 million, or $0.10 per share;

- Paid $3.0 million in quarterly dividend payments; and

- Total cash, cash equivalents and short term investments increased to $87.8 million.


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