Silvercorp Metals (SVM) Investor presentation summary

Investment profile

• Production since 2006 exceeded 110 Moz silver and 1.6B lb lead and zinc; generated profits exceeded $600M and shareholder returns exceeded $235M.

• Cash of $387M at June 30, 2026, plus investments of $440M at October 9, 2026.

• China operations produce ~7.5 Moz AgEq and ~90M lb lead and zinc annually; trailing-12-month AISC was ~ $15/oz silver, net of by-product credits.

China operations

• Ying has seven mines feeding two mills with 4,000 tpd capacity and a reserve life exceeding 17 years.

• Ying mine output is expected to exceed 1.6 Mt by FY2029, from 1.2 Mt in FY2026; the 3,000 tpd No. 3 Mill is targeted for Q1 FY2028, bringing net capacity to 6,500 tpd.

• FY2027 China capex guidance totals $141.1M across Ying, GC and Kuanping, including $124.2M for Ying.

• GC processed 330,000 tonnes annually since 2014; updated P&P reserve tonnes rose 25% versus the 2024 resource estimate despite 1.5 years of production depletion.

Growth projects

• El Domo construction is underway with $284M estimated capex, including $160M budgeted in FY2027; commissioning is targeted by July 2027, with 2026 technical report mine life of 11.5 years.

• El Domo average annual payable production for years 1–11 is projected at 24M lb copper and 27 koz gold; after-tax NPV at 8% is $571M, IRR 46%, and payback ~3 years.

• Tulkubash Phase 1 has a $166.3M construction budget, ~110 koz annual gold production and a 2027–2028 production start-up target; stripping and heap-leach pad development are underway.

• Kyzyltash plans ~US$30M of spending over two years, including 100,000 m of drilling; a PEA is expected in 2027 and feasibility study and detailed engineering in 2028.

• Condor’s 2025 PEA outlines a 13-year underground mine producing 113 koz gold and 430 koz silver annually in years 1–12; after-tax NPV at 5% is $522M and IRR 29%.