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Silvercorp Higher in TSX, U.S. on Acquisition of Chinese Miners for $10.4 Million

Silvercorp Metals (SVM.TO) was higher by about 3% on the Toronto Stock Exchange and was also posting gains in the United States after announcing that its subsidiary, Henan Found Mining Co., will acquire 2 local private mining companies in China for US$10.4 million.

The company said its acquisition of Zhongxing Mining Co. Ltd. and Chuanxin Mining Co. Ltd. marks another significant step for the company's growth in China, allowing it to establish a fourth production base in a prominent polymetallic belt with a mixed production of precious and base metals.

Companies: Silvercorp Metals Inc.

Price: US$32.09. Price Change: +1.94. Percent Change: +6.5.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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