Silvercorp Metals Announces $196 Million Budget for ZAAV Project Development

MT Newswires Live06-22

Silvercorp Metals (SVM) said Monday it has a budget of about $196.3 million for its ZAAV joint venture, which includes the development of phase 1 of the Tulkubash gold project and initial spending for phase 2 of the Kyzyltash gold project.

The expected spending for this year is $57.3 million and the anticipated spending for next year is $139 million, the company said.

ZAAV is a joint venture between Silvercorp, which has a 70% stake and is the operator, and Kyrgyzaltyn, which has a 30% free-carried interest, Silvercorp said.

The joint venture holds a 100% interest in the mining license hosting the Tulkubash and Kyzyltash gold projects, as well as surrounding exploration licenses, in the Kyrgyz Republic's Tien Shan area, Silvercorp said.

Price: 11.22, Change: -0.11, Percent Change: -0.93

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment