Significant Growth in Resources and Reserves
On June 23, 2026, Silvercorp Metals released the latest NI 43-101 technical report for its Gaicheng (GC) silver-lead-zinc mine in Guangdong, China (as of end of 2025). Data shows Measured and Indicated resources at 18.3 million tonnes with grades of 65 g/t silver, 0.91% lead, and 2.24% zinc, representing a 59% increase in tonnage compared to June 2024; Proven and Probable reserves increased to 6.2 million tonnes with a silver grade of 63 g/t, with reserve tonnage rising 25%.
Production Expansion Relies on Tailings Capacity
Based on this, the company plans to increase annual processing from approximately 345,000 tonnes in FY2026 to approximately 370,000 tonnes in FY2041, with estimated annual silver production of about 700,000 ounces and a post-tax net present value (8% discount rate) of approximately USD 101 million. This plan extends the mine life but explicitly states operations rely heavily on tailings dam expansion to support production after 2043. If tailings facilities are not expanded in time, long-term supply increases face uncertainty, and investors should monitor subsequent infrastructure progress.