Silvercorp Metals Inc. (TSE:SVM)

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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby precious44 » Wed Sep 14, 2011 4:15 pm

Great pick you guys, looks like you timed it bang on.
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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Pixel8r » Wed Sep 14, 2011 4:54 pm

Concrete Jungle wrote:I took advantage of the shenanigans surrounding Silvercorp to get in at six bucks a pop. :)

Welcome onboard, should be at least a double over the next year IMO. :thumbup:
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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby wee Jinky » Fri Sep 16, 2011 8:01 am

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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Pixel8r » Fri Sep 16, 2011 8:08 am

wee Jinky wrote:http://alfredlittle.com/2011/09/13/silvercorp-metals-questionable-customers-geologists-production-quality-and-serious-related-party-failures/

http://silvercorpmetals.com/news/2011/i ... ent_id=307

nicked from GEI - any worries ?

I haven't got any worries about it, as far as I am concerned it is a short raid. See my posts above.
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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Pixel8r » Fri Sep 16, 2011 1:25 pm

Silvercorp Repurchases Over $31 Million Of Shares Under NCIB

September 15, 2011

VANCOUVER, British Columbia – September 15, 2011 – Silvercorp Metals Inc. (“Silvercorp” or the “Company”) announced it has acquired a total of 3,918,012 of its common shares at a total cost of $31,290,657 (average price of CDN$7.97 pursuant to its normal course issuer bid (“NCIB”) announced on June 17, 2011.

Under the existing NCIB the Company intends to acquire up to 10 million common shares. All common shares purchased under the NCIB will be cancelled.

The Company is purchasing its owns shares because it believes that prevailing market conditions have resulted in Silvercorp's shares being undervalued relative to the immediate and long term value of Silvercorp's portfolio of producing and development properties in China and Canada.
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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Pixel8r » Fri Sep 16, 2011 1:35 pm

Silvercorp CEO Says Company May Become Target of a Takeover Bid

By Christopher Donville | September 15, 2011, 5:26 PM EDT

Sept. 16 (Bloomberg) -- Silvercorp Metals Inc., the Canadian miner accused of fraud in two anonymous reports, may be vulnerable to a takeover after its shares declined, Chief Executive Officer Rui Feng said.

“I’m worried our company will now become the target of a takeover,” Feng said yesterday in a telephone interview. “I’m very concerned because compared to our peers, our stock should be C$15 to C$16. Now we are about C$6 and people may take advantage of the situation.”

Silvercorp rose 44 cents, or 6.8 percent, to C$6.90 at 4:16 p.m. yesterday in Toronto Stock Exchange trading. The shares have dropped 19 percent this month. Silvercorp, which describes itself as China’s largest silver miner, denies the allegations and says it’s the victim of short sellers who are trying to drive the shares lower.

“Whether it’s a mining company, a hedge fund or a private equity firm that really knows for sure that everything is legit, they’ll cobble the coin together right now and put in a bid,” John Goldsmith, a Toronto-based money manager at Montrusco Bolton Investments Inc. who manages about C$500 million ($508 million), said in a telephone interview. He doesn’t hold Silvercorp shares. “The question then becomes, what’s the likelihood that Silvercorp’s shareholders would approve.”

On Sept. 2, Vancouver-based Silvercorp denied allegations contained in an anonymous report that was sent to Canadian regulators. The document, which was circulated by e-mail, alleged Silvercorp reported a profit in calendar 2010 to the U.S. Securities and Exchange Commission while posting a loss to regulators in China.

...
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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Pixel8r » Sat Sep 17, 2011 7:29 am

Silvercorp Responds to Allegations

In-Depth Interview with Lorne Waldman of Silvercorp Metals Inc., as well as Robert Archer of Great Panther and Jason Reid of Gold Resource Corp.

Jim is joined by Lorne Waldman of Silvercorp Metals to respond directly to the fraud allegations leveled at the company. In addition, two other top silver executives, Robert Archer, President and CEO of Great Panther Silver, and Jason Reid, President of Gold Resource Corp. join Jim to discuss allegations made against their companies and how they addressed them.




Silver Stocks - Fraud or Manipulation?

Expert panel discussion: Dr. Keith Barron, Dr. Leanne Baker, David Morgan, Chen Lin, and David Bond

In a special broadcast, Jim is joined by famed exploration geologist Dr. Keith Barron, Dr. Leanne Baker, Managing Director of Investor Resources LLC, silver expert David Morgan of the Stone Investment Group, analyst and metals newsletter editor Chen Lin, and silver expert and editor of SilverMiners.com David Bond to discuss recent fraud allegations against several silver companies, particularly Silvercorp Metals.


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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Ziknik » Mon Sep 19, 2011 3:13 pm

Silver corp fraud

www.zerohedge.com/news/alfred-little-ta ... y-inflated

(I've not read it)
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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby fexx » Mon Sep 19, 2011 8:28 pm

Disclaimer - I am not backed by anything.
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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Pixel8r » Mon Sep 19, 2011 10:25 pm

Watch on youtube.com
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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Capitalist_Pig » Thu Sep 22, 2011 5:09 pm

A lot of the time, the stock market is just like Tescos ... You just gotta find the value packs, reduced to clear, and buy one get one free offers!
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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Pixel8r » Sat Sep 24, 2011 10:48 am

Silvercorp files lawsuit against short sellers

BRENDA BOUW AND TIM KILADZE | TORONTO AND VANCOUVER— From Saturday's Globe and Mail | Published Friday, Sep. 23, 2011 9:51AM EDT

Silvercorp Metals Inc. (SVM-T6.91-0.14-1.99%) has filed a lawsuit in New York against two websites and several individuals for allegedly spreading false information about the miner to drive down its stock price – accusations that one of the defendants has dismissed as “frivolous.”

Among the list of allegations from Vancouver-based Silvercorp are defamation and “deceptive acts and practices” on the part of the websites and their operators, both of which have said their backers are short selling the stock. (A short sale occurs when the seller borrows stock from a brokerage, and sells it, expecting the price to fall. if it does, the seller will buy stock at the lower price to replace the stock that was borrowed.)

“This is the first step on our journey to hold participants of this scheme, or those who otherwise defamed the company, harmed its shareholders and manipulated the capital markets accountable” said Rui Feng, Silvercorp’s chairman and chief executive officer.

Silvercorp wants the court to order the defendants to remove their allegations, including that the miner overstated its financials and production, and to pay millions in damages.

Two separate sets of short-seller allegations surfaced earlier this month – the first in an anonymous letter that was later updated on chinastockwatch.com, and the second in a series of reports on the website AlfredLittle.com, which looks at companies operating in China.

Silvercorp denies all of the allegations, saying they are “false, defamatory and fraudulent” and that they have distracted the company from its normal business operations.

...
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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Pixel8r » Wed Nov 09, 2011 1:07 pm

Silvercorp profit rises, despite cost of fighting short-sellers

Silvercorp Metals Inc. (SVM-T9.62-0.05-0.52%) said its latest quarterly profit rose 49 per cent on higher metal prices, but was stunted in part by fees needed to fight short-seller allegations of wrongdoing.

Vancouver-based Silvercorp, which has four mines in China, reported profit of $18.5-million (U.S.), or 11 cents a share, in the second quarter ended Sept. 30, up from a profit of $12.4-million, or 8 cents a share, for the same quarter last year.

The company took a $1.5-million hit for costs incurred to battle what it called a “short and distort” scheme, where two sets of short-sellers alleged wrongdoing, including overstating revenues.

The company denied the allegations and shot back saying the motive behind the short-selling was to drive down the stock to make a profit. (A short sale occurs when the seller borrows stock from a brokerage, and sells it, expecting the price to fall. If it does, the seller will buy stock at the lower price to replace the stock that was borrowed, and pocket the difference.) Silvercorp also filed a lawsuit against the two websites behind the accusations – AlfredLittle.com and ChinaStockWatch.com – and several individuals, alleging defamation and “deceptive acts and practices.”

Excluding those extra fees to fight the allegations, as well as $3.6-million in China dividend withholding taxes, Silvercorp said adjusted earnings in the quarter were $23.6-million or 14 cents per share...
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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Concrete Jungle » Wed Nov 09, 2011 1:33 pm

:thumbup:
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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Pixel8r » Tue Nov 22, 2011 9:36 am

Silvercorp announces new mine purchase in China

By Gordon Hamilton, Vancouver Sun November 21, 2011

Vancouver-based Silvercorp Metals said Monday it is expanding its operations in China by buying SX Gold Mining Co. for $23 million.

The SX Gold purchase agreement was signed by a subsidiary company, Henan Found Mining Co. With the exception on one property in B.C., all of Silvercorp’s operations are in China.

SX Gold, which operates a gold-silver-lead-zinc mine, is a Luoyang City government-owned company. Luoyang City auctioned the company off through a public tendering process which Henan Found won.

In a news release Monday, the company states that the acquisition of the XHP project, together with the August acquisition of another mine in the same region, “furthers Silvercorp’s intent to consolidate (through Henan Found) the mines and prospective projects in the high grade silver, gold and base metal belt in the Southwest Luoyang City district.”

“Silvercorp has established itself in the region as an effective explorer and developer, with a good brand name and has become the largest non-state-controlled company and one of the top tax payers in Luoyang City.”

Silvercorp has recently been fighting allegations of fraud by an anonymous group of short sellers who have posted two reports in the last two months alleging fraud at the company.

Silvercorp has fought the allegations by posting information on its own website refuting the claims. An independent audit recently found that the fraud allegations were not true...
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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Pixel8r » Sat Dec 03, 2011 9:13 am

Lorne Waldman of Silvercorp Looks Ahead

Silvercorp moves past the false allegations and sees a bright future

Jim welcomes Lorne Waldman of Silvercorp to assess the company outlook. Lorne sees growing silver production and revenues, and a growing dividend as well.

Lorne Waldman, Corporate Secretary for Silvercorp Metals Inc, earned a law degree and a Masters of Business Administration from the University of British Columbia in 1993. He is responsible for regulatory and compliance affairs of the company, and managing investor relations duties. Mr. Waldman brings with him over ten years experience with Nam Tai Electronics, Inc. (NYSE: NTE), an electronics manufacturer with 100% of its manufacturing in China, where he held positions of in-house legal counsel, corporate secretary, and was responsible for investor relation functions.


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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Pixel8r » Fri Mar 09, 2012 2:11 pm

Silvercorp moving on from fraud allegations

After spending months loudly pushing back against fraud accusations from a group of anonymous short-sellers before an independent review found no wrong-doing at Silvercorp Metals Inc., the China-focused silver miner has come to the Prospectors and Developers Association of Canada (PDAC) conference with the firm intention of moving on.

Lorne Waldman, corporate secretary of Silvercorp, presided over a brief investor presentation at the mining conference Tuesday trumpeting the company’s strong balance sheet, dividend record and share buybacks. But when shareholders asked questions about the short-sellers and fraud allegations that plagued Silvercorp last year, his answers became terse.

“Let’s face it, there was a problem with Sino-Forest and it appears some investors have been scared out of China,” he said, referring to the China-based forestry company listed on the Toronto Stock Exchange that had its shares collapse under fraud allegations from now-infamous short-seller Carson Block. “Let me remind you though, China is the world’s best jurisdiction in which to operate.”...
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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Pixel8r » Thu Mar 29, 2012 9:39 am

Watch on youtube.com
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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Pixel8r » Thu May 17, 2012 11:00 pm

:clap: :D :thumbup:

SILVERCORP REPORTS RECORD SILVER PRODUCTION OF 5.6 MILLION OUNCES, RECORD REVENUE OF $238.0 MILLION, RECORD NET INCOMEOF $73.8 MILLION & RECORD CASH FLOWS OF $123.8 MILLION FOR FISCAL YEAR 2012

FISCAL 2012 YEAR HIGHLIGHTS

For the year ended March 31, 2012 (“fiscal 2012”), highlights included:

  • Record net income attributable to equity holders of the Company of $73.8 million, or $0.43 per share, an increase of 9% compared to net income of $67.7 million, or $0.40 per share, in year ended March 31, 2011 (“fiscal 2011”);
  • Record revenue of $238.0 million, an increase of 42% compared to $167.3 million in fiscal 2011;
  • Record cash flows from operations, excluding non-cash working capital, of $123.8 million or $0.72 per share, an increase of 34%, compared to $92.2 million or $0.55 per share in fiscal 2011;
  • Record production of 5.6 million ounces of silver, or 6.06 million ounces of silver equivalent (including 8,800 ounces of gold), being the sixth consecutive year of production growth with an increase of 6% in silver production compared to 5.3 million ounces in fiscal 2011;
  • Total production costs of negative $3.25 per ounce of silver and cash costs of negative $5.13 per ounce of silver;
  • Commenced mine development and mill construction at the GC mine. In fiscal 2012, 717 metres (“m”) of the 2,210m main access ramp, 42m of the 618m main shaft and 400m of a 3.7m by 4m water diversion tunnel were completed. The construction of mill, office building and lab facilities are also well underway;
  • Completed XBG and XHP project acquisitions, further consolidating mines in the high-grade silver, gold and base metal belt in the southwest Luoyang City district region;
  • Increased quarterly dividend by 25% to $0.025 per share, and declared $15.6 million, or $0.09 per share, of dividends in aggregate; and
  • Repurchased and cancelled 4.5 million shares under a normal course issuer bid, at an average cost of $7.90 per share, totaling $35.4 million.
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Re: Silvercorp Metals Inc. (TSE:SVM)

Postby Ziknik » Fri May 18, 2012 6:07 am

Negative cash costs! How can to cash cost be negative?
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