Silvercorp reports Q1 uptick

TSX-listed Silvercorp Metals has reported a first-quarter rise in net income attributable to equity shareholders of 134%, on the back of an increase in metal prices and the gains of the disposal of Silvertip mine's net smelter return. During the three months to June 30, Silvercorp achieved a net income of $10.9-million, or $0.07 a share – owing to an increase in the realised selling price for silver, lead, and zinc of 5%, 35%, and 65% respectively, and the recorded $4.3-million gain on disposal. This compared favourably against the $4.7-million, or $0.03 a share, achieved in the first quarter of last year.