Core Viewpoint - The S&P/TSX Composite Index in Canada closed up 0.15% at 33,090.96 points, marking a new all-time high for the index [1] Group 1: Index Performance - The S&P/TSX Composite Index continues to set record closing highs [1] Group 2: Notable Stock Performances - IAMGOLD saw a significant increase of 9.73% [1] - G Mining Ventures rose by 5.47% [1] - Hilltop Metals increased by 5.21% [1] - Dundee Precious Metals gained 4.80% [1] - K92 Mining experienced a rise of 4.71% [1] - Wesdome Gold Mines increased by 4.53% [1] - Lundin Gold rose by 4.30% [1] - Nova Gold Resources saw an increase of 4.09% [1] - SeaBridge Gold gained 4.03% [1] - Discovery Silver rose by 4.01% [1]

Group 1 - Silvercorp Metals Inc. experienced a significant stock surge, closing up 10.88% at $11.31, driven by strong preliminary earnings results for Q3 FY2026 [1] - The company reported a 51% increase in revenues for Q3, reaching $126.1 million compared to $83.6 million in the same period last year, attributed to higher silver prices [2] - Silver production decreased to 1.9 million ounces, down from 1.946 million ounces year-on-year, while silver equivalent production fell by 5% to 2 million ounces [3] Group 2 - Lead production also saw a decline of 4%, totaling 16.4 million pounds compared to 17.09 million pounds in the previous year, whereas zinc production increased by 5% to 7 million pounds [3] - Official results for Silvercorp are expected to be released after market close on February 9 [4]

Core Viewpoint - Silvercorp Metals Inc. (SVM.US) reported a record revenue of approximately $126.1 million for the third quarter of fiscal year 2026, marking a 51% increase compared to the same period last year [1] Company Summary - Silvercorp focuses on the acquisition, exploration, development, and production of non-ferrous and precious metal mines, including silver, gold, lead, and zinc [1] - The company's stock price has increased over 22% this year, continuing a strong upward trend from last year, which saw an increase of nearly 180% [1] Industry Summary - Precious metal prices, particularly gold and silver, have been reaching historical highs, with silver prices increasing approximately 27% this year, following a nearly 150% rise last year [1] - Silver prices have surpassed $90 per ounce, contributing to the overall positive performance of companies in the precious metals sector [1]

Core Viewpoint - Silvercorp Metals Inc. reported its production and sales figures for Q3 Fiscal 2026, highlighting a record revenue increase of 51% compared to the same quarter last year, despite some decreases in metal production [6]. Production and Operational Highlights - The Ying Mining District processed 328,425 tonnes of ore, an 18% increase from Q3 Fiscal 2025, producing approximately 1.7 million ounces of silver, 2,096 ounces of gold, and 14.7 million pounds of lead, with a decrease in silver production by 4% [3][6]. - The GC Mine processed 87,095 tonnes of ore, a 4% increase from Q3 Fiscal 2025, producing 0.1 million ounces of silver and 5.1 million pounds of zinc, with a 15% increase in zinc production but a 28% decrease in silver [4][6]. - Consolidated operational results showed a total of 415,520 tonnes processed, with a head grade for silver-lead ore at 226 grams/tonne and for gold ore at 2.1 grams/tonne [5][8]. Financial Performance - The company achieved record revenue of approximately $126.1 million for Q3 Fiscal 2026, marking a 51% increase over Q3 Fiscal 2025 [6]. - Silver production totaled 1.9 million ounces, a 4% decrease from the previous year, while silver equivalent production was 2.0 million ounces, down 5% [6][7]. Exploration and Development - Active exploration continued at both the Ying Mining District and the GC Mine, with a total of 89,208 meters of drilling and 22,271 meters of exploration tunneling completed [6]. - Construction at the Kuanping mine progressed with 3,297 meters of ramp development and 693 meters of exploration tunneling completed [6]. Recovery Rates - Recovery rates for Q3 Fiscal 2026 included gold at 92.8%, silver at 95.3%, lead at 93.6%, and zinc at 63% [7].

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, capitalizing on established price movements [1]. Company Overview: Silvercorp (SVM) - Silvercorp currently holds a Momentum Style Score of B, indicating a favorable momentum outlook [3]. - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [4]. Performance Metrics - Over the past week, SVM shares have increased by 10.31%, outperforming the Zacks Mining - Miscellaneous industry, which rose by 6.54% [6]. - In a longer timeframe, SVM's shares have appreciated by 32.56% over the past quarter and 204.64% over the last year, significantly surpassing the S&P 500's gains of 3.7% and 19.07%, respectively [7]. Trading Volume - The average 20-day trading volume for SVM is 5,203,778 shares, indicating a bullish sentiment as rising stocks with above-average volume are generally seen as positive [8]. Earnings Outlook - In the last two months, one earnings estimate for SVM has increased, while none have decreased, raising the consensus estimate from $0.32 to $0.37 [10]. - For the next fiscal year, one estimate has also moved upwards with no downward revisions, indicating a positive earnings outlook [10]. Conclusion - Considering the positive momentum indicators and earnings outlook, SVM is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [12].

Market Performance - The US stock market continued its post-Christmas pullback, with all three major indices closing lower, marking a subdued end to 2025. The S&P 500 index fell by 0.74% to 6845.5 points, the Nasdaq Composite dropped by 0.76% to 23241.99 points, and the Dow Jones Industrial Average decreased by 0.63% to 48063.29 points [1]. - For the year, the S&P 500 recorded an annual increase of 16.39%, while the Nasdaq managed a 20.36% rise, achieving over 20% growth for three consecutive years. The Dow Jones also rose by 12.97%, marking a similar performance for the third year in a row [3]. Individual Stock Performance - Among the top performers in the S&P 500, four storage giants—SanDisk, Western Digital, Micron Technology, and Seagate Technology—led the annual gains. Semiconductor stocks like Lam Research, AI application leader Palantir, and Comfort Systems, which provides HVAC solutions for data centers, also featured prominently [3]. - In the tech sector, only Google and Nvidia among the "Big Seven" tech companies outperformed the benchmark index in 2025 [8]. Commodity and Sector Movements - US silver futures experienced a significant drop of 9% due to a second margin increase by the CME Group within a week, negatively impacting the mining sector. Companies like Endeavour Silver and Silvercorp Metals saw declines of over 4% and 2.8%, respectively [11]. Chinese Stocks - The Nasdaq Golden Dragon China Index closed down 1.13% but recorded an annual increase of 11.33%. Notable Chinese stocks included Alibaba, which rose over 75%, and Netease, which increased by 58.28% [12]. Corporate News - Warren Buffett officially retired as CEO of Berkshire Hathaway on December 31, 2025, after a long tenure, although he will remain as chairman of the board [13]. - Tesla achieved a milestone with a driver completing a coast-to-coast journey using full self-driving technology, marking a significant advancement in autonomous vehicle capabilities [15]. - Nvidia and AMD are expected to enter a "year-long price increase cycle" for GPUs, driven by rising memory costs, with flagship models potentially reaching prices as high as $5000 [16]. - Trump Media & Technology Group announced plans to issue a new cryptocurrency to shareholders, despite a significant annual decline in stock value [17]. - Brookfield Asset Management is launching a cloud computing business to challenge tech giants like Amazon, aiming to reduce AI development costs [18]. - Uber is in talks to acquire the parking app SpotHero, which could create synergies between ride-hailing and parking services [19].

Core Viewpoint - Hilltop Metal Mining Company (SVM.US) has completed a Preliminary Economic Assessment (PEA) for its Condor gold project in Ecuador, highlighting significant resource potential and economic viability [1][2] Group 1: Project Overview - The PEA focuses on two high-grade underground ore bodies, Camp and Los Cuyes, with total resources of 81 tons of gold at an average grade of 2.15 g/t, 570 tons of silver at 14.2 g/t, 23,000 tons of lead at 0.06%, and 223,000 tons of zinc at 0.54% [1] - The project plans to mine 1.8 million tons of ore annually over a 13-year mine life, resulting in total production of 43 tons of gold, 164 tons of silver, and 110,000 tons of zinc [1] Group 2: Economic Metrics - Initial capital investment for the project is $292 million, with a post-tax payback period of only 3 years [2] - The All-In Sustaining Cost (AISC) is $1,258 per ounce of gold, which is competitive given the current gold market [2] - At a benchmark price of $2,600 per ounce, the project's post-tax Net Present Value (NPV5%) is $522 million, with a post-tax Internal Rate of Return (IRR) of 29% [2] - If the project is evaluated at a spot price of $4,300 per ounce, the NPV would increase to $1.559 billion, and the IRR would exceed 60% [2] Group 3: Technical Advantages - The project's economic resilience is attributed to multiple technical advantages, including a combination of various ore processing methods that achieve over 90% gold recovery [2] - Favorable terrain allows for the use of sublevel caving mining methods, significantly reducing infrastructure and mining costs [2] - The current high prices of precious metals further enhance the project's profit potential [2] Group 4: Next Steps - The next steps for the Condor gold project include obtaining relevant environmental permits, constructing underground access tunnels, and further exploration to upgrade resource estimates, which will support subsequent feasibility studies and development [2]

Core Insights - Hillway Metal Mining Co., Ltd. (SVM.US) was awarded the "Annual Excellence in New Quality Productivity" for its systematic practices in the field of new quality productivity, reflecting its commitment to technological innovation and industry upgrades [1] Group 1: Technological Innovation and Patent Accumulation - Technological innovation is the core engine of new quality productivity, with Hillway and its subsidiaries focusing on R&D investment and patent breakthroughs across the entire process of exploration, mining, and selection [3] - As of August 2025, Henan Faende Mining, Hillway's flagship mine, holds 111 various invention patents, including 15 related to automation [3] - R&D investment at Henan Faende Mining reached 55.7 million yuan in 2024, with plans to increase to 65 million yuan in 2025, marking a year-on-year increase of 16.7% [3] - Guangdong Faende Mining has obtained 27 authorized patents and was re-certified as a national high-tech enterprise in 2024, with its new flotation reagents recognized as a high-tech product in Guangdong [4] Group 2: Digital Transformation and Smart Mining - Digital transformation is key to enhancing overall productivity, with Hillway aiming for "mechanization to replace labor, automation to reduce labor, and intelligence to achieve unmanned operations" [5] - The "Shishi Ming" digital platform developed by Hillway serves as the core tool for digital management, enabling real-time data tracking for geological exploration teams [6] - By 2025, digital transformation efforts have led to improvements in safety reliability, economic benefits, and technical team capabilities across the two subsidiaries [6][7] Group 3: Green Development and Resource Efficiency - Hillway integrates green development into its new quality productivity framework, achieving a balance between resource development and ecological protection [9] - Henan Faende has established three national-level green mines and one provincial-level green mine, with a rooftop solar project generating 700,000 kWh of electricity [10] - Guangdong Faende has implemented a tailings lifecycle management model, achieving 100% recycling of mineral processing wastewater and reducing dust emissions significantly [10] Group 4: Talent Development and International Expansion - Hillway has established a comprehensive talent system focusing on recruitment, training, and growth, with Guangdong Faende training over 40 professionals since 2020 [11] - The company has expanded internationally by acquiring Adventus Mining in July 2024, gaining access to key projects in Ecuador, including the El Domo copper-gold mine and the Condor gold-silver mine [13] - The El Domo project has a resource volume of 10.1 million tons, with plans for a 15-year mining operation, while the Condor project is expected to significantly increase precious metal output [13]

Core Viewpoint - Silvercorp Metals Inc. has released the results of its Preliminary Economic Assessment (PEA) for the Condor gold project in Ecuador, indicating strong economic potential based on the Mineral Resource Estimate prepared in accordance with NI 43101 standards [1][2]. Economic Results and Sensitivities - The PEA projects an after-tax net present value (NPV) of $522 million and an internal rate of return (IRR) of 29% at base case metal prices of $2,600/oz gold and $31/oz silver [5]. - At near spot metal prices of $4,300/oz gold and $60/oz silver, the after-tax NPV increases to $1,559 million with an IRR of 61% [5]. - The project has a mine life of 13 years, producing approximately 1,375 thousand ounces of payable gold and 5,266 thousand ounces of payable silver [5]. Production and Cost Estimates - The total mill feed is estimated at 21.34 million tonnes, with an annual processing rate of 1.8 million tonnes per annum [4]. - The average all-in sustaining cost (AISC) is projected at $1,258/oz net of by-product credits [5]. - Initial capital costs are estimated at $292 million, with a post-tax payback period of 3 years starting from commercial production [5][6]. Mineral Resource Estimate - The updated Mineral Resource estimate includes 10.15 million tonnes of indicated resources with an average grade of 2.30 g/t gold equivalent [26]. - Inferred resources total 30.10 million tonnes with an average grade of 2.49 g/t gold equivalent [26]. Next Steps - The company is advancing environmental permitting for underground development, with the environmental impact study approved and community consultations ongoing [29]. - Following the issuance of the environmental permit, the company plans to develop underground access tunnels to facilitate further exploration and resource upgrading [30]. Company Overview - Silvercorp is a Canadian mining company focused on producing silver, gold, lead, and zinc, with a strategy aimed at generating free cash flow and pursuing organic growth through exploration and acquisitions [33].

Core Viewpoint - The "Annual Outstanding New Quality Productive Enterprises" award recognizes companies that excel in promoting new quality productivity, emphasizing the importance of total factor productivity improvement in driving economic transformation and upgrading [4]. Group 1: Award Announcement - The "Annual Outstanding New Quality Productive Enterprises" award ceremony was held online on December 22, featuring the announcement of the prestigious "Golden Award" winners [1]. - Nine companies were recognized for their contributions, including Fan Shi Intelligent (06682.HK), Lihe Science and Technology (002243.SZ), Sanqi Interactive Entertainment (002555.SZ), Hillway (SVM.US), Trip.com Group-S (09961.HK/TCOM.US), Yika Tong (ECX.US), Youjia Innovation (02431.HK), Zhengli New Energy (03677.HK), and Zhaol Intelligent Logistics (02098.HK) [1]. Group 2: Evaluation Criteria - The selection process for the award involved quantitative data analysis and evaluation by an expert jury, ensuring a comprehensive assessment of the candidates [4]. - The award aims to create a valuable reference list of listed companies and unicorns in the investment community, covering all listed companies on major exchanges including the Hong Kong Stock Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange, New York Stock Exchange, and NASDAQ [4].