Silvercorp’s third-quarter profits fall on foreign exchange loss, lower prices

Canadian miner Silvercorp, which produces silver, gold, lead and zinc from its mines in China, reported income attributable to equity shareholders of $6.3-million, or $0.04 a share for the quarter ended December 31 – the third quarter of its 2020 financial year. This was lower than income attributable to equity shareholders of $8.7-million, or $0.05 a share, reported for the the third quarter of the prior financial year, mainly as a result of a $1.3-million foreign exchange loss and decreases of 21% and 27% in the average realised selling prices for lead and zinc, respectively. This was offset, to some extent, by increases of 17% and 20% in the average realised selling prices for silver and gold, respectively, and increases of 6% and 103% in the volumes of lead and zinc sold.