Silvercorp Metals Inc.

Notable vs. Peers

• Jurisdiction risk score of 4/10 is meaningfully riskier than the peer average of 7/10.
• All-in sustaining cost of $18.38/AgEq oz is 44% lower than the peer producer average of $33.00/AgEq oz.

Lifecycle Milestones

1. Permit granted

   Reached — date not disclosed · GC Mine's mining license (No. C1000002010113210083333) is valid from June 2012 to November 2040 per Silvercorp's own project page. Exact day within June 2012 not confirmed from available sourcing -- recorded reached-but-undated. · Source
2. Construction decision (FID)

   Reached — date not disclosed · Task #922: written as a real, undated MinerConstructionMilestone row (achievedDate intentionally null). Silvercorp Metals' GC Mine (Guangdong, China) demonstrably reached a construction decision: contractors were mobilised August 2011 ahead of a mining licence valid from June 2012, and the mine has produced since 2014. Consolidating this miner's own constructionMilestone:CONSTRUCTION_DECISION MetricStatus research (Task #672 re-check, which also tested and eliminated El Domo-Curipamba, Ecuador, as the stronger-looking alternative anchor -- rejected because its authorising event was a government Resolution of Change of Phase, not a Silvercorp board FID): no dated FID was found in the Task #430 batch 7 pass for the GC Mine either, across two independent research passes. Recorded as reached-but-undated rather than promoting a government regulatory approval into a company construction decision.
3. Construction start

   Reached — date not disclosed · Mine-construction contractors mobilized to the GC Mine site in August 2011 and began work on the main access ramp and main shaft (2,224m ramp / 618m shaft planned; by 31 Dec 2011, 564m of ramp and 22m of shaft were complete, per Silvercorp's own fiscal-2012 6-K operational update), following the Dec 2010 mining permit and the site-preparation/surface-rights phase described in Silvercorp's fiscal-2011 filings. Exact day within August 2011 not found. CAVEAT: sec.gov 403's on every direct fetch attempt (same bot-wall this project has hit before, e.g. Task #612's HL row); sourced via search-summarized SEC 6-K filings, corroborated across two independently-worded queries returning the same August 2011 mobilization date and the same Dec-2011 progress figures. · Source
4. First pour / production

   Reached — date not disclosed · GC Mine 'has been in production since 2014' per Silvercorp's own project page. Exact day not confirmed from available sourcing -- recorded reached-but-undated. (Chosen as the anchor asset for SVM's stage=PRODUCTION claim because it has a dateable mining-license/production history; the Ying Mining District's constituent mines (SGX/HPG/TLP/LM), in production since 2006 per the district overview page, had no comparably dateable permit/construction history reachable this research pass.) · Source
5. Commercial production

   Reached — date not disclosed · Genuinely reached, but no single company-wide commercial-production date exists: the Ying Mining District (Henan Province, China) comprises multiple individual mines (SGX, HZG, LM, HPG, TLP) brought into production at different times over roughly two decades of continuous operation, while El Domo (Ecuador) remains under construction (construction camp substantially completed, targeting operational readiness around October 2025/2026 -- not yet producing). Q2 FY2026 results reported Ying District production of 265,002 tonnes processed, ~1,529 koz silver, 2,085 oz gold. This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. · Source

Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.

A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.