Silvercorp's operations in China are usually suspended two weeks for the Chinese New Year holiday. During the 2020 holiday season (Q4 Fiscal 2020), the operations in China were shut down for an extra month due to the Covid-19 situation in China at that time as the Company reported in the news released on January 29, February 18, and March 12, 2020. The operations were ramped up to full capacity in March 2020 with no employee infection and are in full compliance with government measures to prevent the spread of the virus. Total ore mined in March 2020 was 75,199 tonnes, representing approximately 95% of full capacity in normal situations.
Despite the extended shut-down during Q4 Fiscal 2020, the Company was able to achieve its full year production target, surpassing its Fiscal 2020 guidance: Silver production of approximately 6.3 million ounces, 3% above Fiscal 2020 guidance; Lead production of approximately 67.4 million pounds, 3% above Fiscal 2020 guidance; and Zinc production of approximately 25.6 million pounds, 17% above Fiscal 2020 guidance. |