THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES.Vancouver, British Columbia--(Newsfile Corp. - February 25, 2026) - Tincorp Metals Inc. (TSXV: TIN) ("Tincorp" or the "Company") is pleased to announce that on February 24, 2026, it entered into a share purchase agreement (the "Agreement") with Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) ("Silvercorp") and its wholly-owne ...

Silvercorp ( SVM ) hasn't been on my radar for a long time, simply because of its geopolitical risk. I've shied away from buying the stock as it owns silver mines in China. A Canadian silver miner based in China? In thisAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in SVM over the next 72 hours. I wrote this a ...

Company Analysis - Silvercorp Metals Inc. (SVM) was valued at approximately $1.374 billion using a conservative sum-of-the-parts approach in December [1] - At that time, SVM traded at $7.83, with a market capitalization of around $1.59 billion, and the analyst's recommendation was a neutral Hold [1] Investment Strategy - The investment approach is focused on building a resilient, income-generating portfolio with a long-term growth mindset, primarily long-only [2] - The strategy blends dividend-paying equities, REITs, and other income strategies with selective growth opportunities, emphasizing disciplined, fundamentals-driven investing [2] - Capital preservation is prioritized while compounding returns over time [2]

Group 1 - The leading index of Chinese concept stocks rose by 0.94% on February 21 [1] - Among the constituent stocks, NetEase Youdao increased by nearly 10%, Hilltop Metal Mining rose over 5%, and Tuya Smart gained more than 4% [1] - Other notable gainers included Daylight Technology and Zhiyun Group, both rising over 3% [1] Group 2 - Century Internet and Lufax both fell by over 4%, while AHG and NEGG dropped more than 3% [1] - Other decliners included Wenyan Zhixing and Bilibili, which both decreased by over 2% [1]

Core Viewpoint - Silvercorp Metals Inc. is identified as one of the 10 undervalued growth stocks for the next 5 years, with recent earnings exceeding Wall Street estimates [1]. Financial Performance - The company reported a quarterly EPS of $0.22 per share and revenue of $126.11 million, which is $3.56 million above Wall Street estimates [1]. Project Budget Update - The construction budget for the El Domo project has been revised to $284 million, reflecting a $44 million increase from the previous estimate of $240 million [2]. - The increase in budget is attributed to a rise in the value-added tax (VAT) rate from 10% to 15%, raising the VAT component from $19 million to $35 million, which adds $16 million to the overall cost [2]. - Additional costs related to equipment and material purchases for the process plant have risen by $15 million, further contributing to the budget increase [3]. Tax Recovery - The VAT amount is expected to be recovered as a tax credit during the first year of operations once concentrate exports begin [3]. Analyst Ratings - Canaccord Genuity raised its price target on Silvercorp Metals Inc. from $10.98 to $14.64 while maintaining a Buy rating on January 23 [3]. Company Overview - Silvercorp Metals Inc. operates as an explorer, acquirer, developer, and miner of mineral properties in China, focusing on gold, copper, zinc, silver, and lead [4].

Core Viewpoint - Hilltop Metal Mining (SVM.US) experienced a stock price increase of 4.50% on February 11, 2026, closing at $11.37, driven by strong financial results and positive strategic developments [1] Financial Performance - For the third quarter of fiscal year 2026, Hilltop reported record revenue of approximately $126.1 million, a year-over-year increase of 51%, primarily due to strong precious metal prices, particularly silver, which surpassed $90 per ounce during the reporting period [2] - The company's operational data indicated a 15% year-over-year increase in ore processing volume to 341,300 tons, and a significant 76% increase in gold production to 2,085 ounces, reflecting robust core business expansion [2] Project Progress - The company's core growth projects are progressing as planned, with the Ying mine capacity expansion expected to increase total capacity to 1.32 million tons per year [3] - The El Domo copper-gold project in Ecuador has secured $175.5 million in financing from Wheaton, with production anticipated in 2027-2028, which is expected to further diversify the company's product portfolio [3] - The acquisition of a gold mining project in Kyrgyzstan has enhanced the company's geographical and product diversification, strengthening its risk resilience [3] Financial Condition - As of the end of fiscal year 2025, the company reported cash and short-term investments totaling $369.1 million, a debt-to-asset ratio of 26.83%, and a current ratio of 5.05, indicating a solid financial structure and ample liquidity, which instills confidence in the company's operational safety [4] Recent Stock Performance - On February 11, the broader U.S. stock market showed mixed performance, with the Nasdaq index slightly up by 0.22%, while the silver sector, to which Hilltop belongs, rose by 1.05%. The company's stock performance outpaced both the sector and the market, reflecting positive market sentiment towards its specific favorable developments [5]

Core Viewpoint - The company achieved a record high revenue of approximately $126.1 million in Q3 of FY2026, representing a significant year-over-year increase of 51% driven by strong precious metal prices, particularly silver surpassing $90 per ounce [1][2]. Financial Performance - The revenue for Q3 reached approximately $126.1 million, marking a substantial 51% increase compared to the same period last year, primarily due to the robust performance of precious metal prices [2]. - As of the end of FY2025 (March 31, 2025), the company reported a cash and short-term investment balance of $369.1 million, a debt-to-asset ratio of 26.83%, and a current ratio of 5.05, indicating a solid financial structure and ample liquidity [4]. Operational Performance - In Q2 of FY2026 (ending September 30, 2025), the company processed 341,300 tons of ore, a 15% increase year-over-year, with silver equivalent production rising 5% to 1.84 million ounces, and gold production significantly increasing by 76% to 2,085 ounces [3]. - The expansion plan for the core Ying mine is progressing well, with total capacity expected to increase to 1.32 million tons per year [3]. Project Development - The El Domo copper-gold project in Ecuador is advancing as planned, having secured $175.5 million in financing from Wheaton, with production expected to commence in 2027-2028, further diversifying the company's product portfolio [5].

Core Viewpoint - Silvercorp Metals Inc. is a mining company focused on silver, lead, and zinc production, primarily operating in China, with a cost-effective mining approach [1] Group 1: Company Overview - Silvercorp Metals competes with firms like Pan American Silver and Hecla Mining [1] - The company's market capitalization is approximately $2.42 billion [3] Group 2: Stock Performance - The current trading price of SVM is $10.99, reflecting a price change of $0.21, or an increase of approximately 1.99% [3] - The stock has fluctuated between $10.55 and $11.18 during the day, with a yearly high of $14 and a low of $3.15, indicating significant volatility [3] Group 3: Analyst Ratings - Roth Capital set a price target of $11 for SVM, indicating a potential increase of about 1.99% from the current price [4][5] - The stock has received a "Moderate Buy" consensus rating from six brokerages, with an average one-year target price of $9.50 [2] - BMO Capital Markets and Raymond James Financial have reiterated an "outperform" rating for Silvercorp Metals [2]

Financial Data and Key Metrics Changes - The company reported record-breaking revenue of $126 million, a 51% increase from the previous year [2] - Cash flow from operating activities reached $133 million, up 196%, while free cash flow was $90 million, up 336% from last year [2][4] - Adjusted net income for the quarter was $47.9 million or $0.22 per share, compared to $22 million or $0.10 per share in the same quarter last year, reflecting a 118% increase [3][4] - The net income reported was -$15.8 million or -$0.07 per share, primarily due to a $60 million non-cash charge on derivative liabilities [3] Business Line Data and Key Metrics Changes - Silver accounted for 72% of total revenue, with an 80% increase in the realized selling price of silver, adding just under $49 per ounce after smelter deductions [3] - Production at Ying increased, with tons mined and milled up 23% and 18% respectively compared to Q3 2025 [6] - Q3 production costs averaged $76 per ton at Ying, down 11% from last year, and cash cost per ounce of silver was negative $1.22 [7] Market Data and Key Metrics Changes - The company produced approximately 1.9 million ounces of silver, over 2,000 ounces of gold, 16 million pounds of lead, and 7 million pounds of zinc in Q3 [5] - Year-to-date production figures showed increases in silver, gold, and lead production by 1%, 42%, and 1% respectively, while zinc production decreased by 6% [6] Company Strategy and Development Direction - The company is focused on expanding mining capacity across its licenses at Ying, with recent permit renewals increasing capacity significantly [8] - Investment in growth projects at Ying totaled $9 million in Q3, aimed at enhancing underground access and material handling [7] - The company is also advancing its gold projects in Kyrgyzstan, aiming to build a globally diversified producer with strong fundamentals [13][14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in Q2 but expressed optimism about smoothing over Q4 performance due to additional tons to mill during the Chinese New Year [16] - The company is actively engaged in obtaining necessary permits for its projects, with the environmental impact study for the Condor project approved [11] Other Important Information - The company ended the quarter with a strong cash balance of $463 million, an increase of over $80 million from the previous quarter [5] - A transaction to acquire a gold project in Kyrgyzstan for $162 million was announced, with $92 million paid at closing [5] Q&A Session Summary Question: Guidance on throughput at Ying - Management indicated that while guidance remains unchanged, throughput is likely tracking towards the higher end, but lower grades may pose challenges [16] Question: Derivative liability details - The $60 million derivative liability was solely related to convertible notes [17]

Financial Data and Key Metrics Changes - The company reported record-breaking revenue of $126 million, a 51% increase from the previous year [2] - Cash flow from operating activities reached $133 million, up 196%, while free cash flow was $90 million, up 336% from last year [2][3] - Adjusted net income for the quarter was $47.9 million or $0.22 per share, compared to $22 million or $0.10 per share in the same quarter last year, reflecting a 118% increase [3][4] - The company reported a net income of -$15.8 million for the quarter, primarily due to a $60 million non-cash charge on derivative liabilities [3] Business Line Data and Key Metrics Changes - Silver accounted for 72% of total revenue, with an 80% increase in the realized selling price of silver [3] - Production at Ying increased, with tons mined and milled up 23% and 18% respectively compared to Q3 2025 [6] - Q3 production costs averaged $76 per ton at Ying, down 11% from last year, and cash cost per ounce of silver was negative $1.22 [7] Market Data and Key Metrics Changes - The company produced approximately 1.9 million ounces of silver, just over 2,000 ounces of gold, 16 million pounds of lead, and 7 million pounds of zinc in Q3 [5] - Year-to-date production figures showed increases in silver, gold, and lead production by 1%, 42%, and 1% respectively, while zinc production decreased by 6% [6] Company Strategy and Development Direction - The company is focused on expanding mining capacity across its licenses at Ying, with recent permit renewals and expansions [8] - Investment in growth projects at Ying totaled $9 million in Q3, aimed at enhancing underground access and material handling [7] - The company is also advancing its projects in Kyrgyzstan, acquiring a 70% interest in gold projects to diversify its production portfolio [13][14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in Q2 but expressed optimism about smoothing out Q4 performance due to additional tons to mill during the Chinese New Year [16] - The company is actively engaged in obtaining necessary permits for its projects, with the environmental impact study for the Condor project approved [11] Other Important Information - The company ended the quarter with a strong cash balance of $463 million, an increase of over $80 million from the previous quarter [5] - A transaction to acquire a gold project in Kyrgyzstan for $162 million was announced, with $92 million paid at closing [5] Q&A Session Summary Question: Guidance and throughput at Ying - Analyst inquired about guidance and throughput expectations, noting that while guidance remains unchanged, throughput may exceed expectations despite lower grades [16] Question: Derivative liability details - Analyst asked if the $60 million derivative liability was solely related to convertible notes, to which management confirmed it was [17]