On Tuesday, Silvercorp Metals Inc. (USA) (NYSE:SVM)’s shares declined -5.65% to $1.17.
Silvercorp Metals Inc. (USA) (SVM) stated its financial and operating results for the fourth quarter and fiscal year ended March 31, 2015 (“Fiscal 2015″).
The Company is happy that administration enhancements and operational improvements enacted in Fiscal 2015 to address the lower commodity price environment have favorably influenced all aspects of operations, with improvements in head grade and mining tonnage, resulting in improved cash flow and adjusted net income.
FISCAL YEAR 2015 HIGHLIGHTS
- Silver sales of 5.1 million ounces, lead sales of 51.5 million pounds and zinc sales of 15.9 million pounds, up 33%, 39%, and 89% from the preceding year;
- Silver and lead head grades at the Ying Mining District improved 16% and 24% contrast to the preceding year period;
- Sales of $128.5 million , up 19% from the preceding year;
- Gross margin of 43% contrast with 45% in the preceding year, relatively steady despite a 13% decline in the average selling price of silver from the preceding year;
FOURTH QUARTER HIGHLIGHTS
- Silver sales of 0.9 million ounces, an enhance of 58% contrast to the same preceding year period;
- Lead sales of 9.2 million pounds and zinc sales of 2.5 million pounds, up 78% and 188%, respectively, contrast to the same preceding year period;
- Sales of $20.3 million , an enhance of 26% contrast to the same preceding year period;
- Gross margin of 26% down from 43%, influenced by the decline of metal prices and the inclusion of lower profit margin operations at the GC mine;
- Cash flow from operations of $4.8 million , or $0.03 per share ;
Silvercorp Metals Inc., together with its auxiliaries, is engaged in the acquisition, exploration, development, and mining of mineral properties in China and Canada. The companys principal property comprises the Ying silver-lead-zinc project located in the Ying Mining District, the Henan Province, China. It also explores for gold properties. The company was formerly known as SKN Resources Ltd. and changed its name to Silvercorp Metals Inc. in May 2005. Silvercorp Metals Inc. is headquartered in Vancouver, Canada.
Inovio Pharmaceuticals Inc (NASDAQ:INO)’s shares dropped -5.32% to $8.36.
Inovio Pharmaceuticals Inc (INO) declared it will advance its DNA vaccine for MERS (Middle East Respiratory Syndrome) into a phase I clinical trial in healthy volunteers in a partnershipwith GeneOne Life Science Inc. (011000.KS), an international DNA vaccine developer and manufacturer in which Inovio holds an equity interest. MERS is a respiratory disease caused by a coronavirus, which is related to the severe acute respiratory syndrome (SARS) virus. Presently, MERS carries a 40% death rate; there is no vaccine or effective treatment for this virus.
Inovio and GeneOne will conduct a phase I trial to evaluate the safety, tolerability and immunogenicity of Inovio’s DNA-based MERS vaccine. The companies are presently conducting pre-IND activities and plan to start the clinical study before year end. GeneOne will conduct and fund the clinical study in return for milestone-based co-ownership of the immunotherapy. Upon successful completion of the study, the companies plan to jointly seek additional third party support and resources to further develop and commercialize this product.
Inovio Pharmaceuticals, Inc., a clinical stage biopharmaceutical company, develops active DNA immunotherapies and vaccines in combination with proprietary electroporation delivery devices to prevent and treat cancers and infectious diseases.
At the end of Tuesday’s trade, Noranda Aluminum Holding Corporation (NYSE:NOR)‘s shares dipped -5.16% to $2.02.
Noranda Aluminum Holding Corporation (NOR) declared that its Board of Directors has designated Richard B. Evans to serve as the Chairman of the Company`s Board of Directors. Mr. Evans has more than 40 years in the aluminum industry, having served in senior administration positions at Rio Tinto, Alcan and Kaiser Aluminum & Chemical. His executive administration experience encompasses engineering, operations, finance, sales and strategy. The Company also declared that the Board of Directors designated its former Board Chairman, William H. Brooks, to serve as Chairman of the Nominating and Corporate Governance Committee. Mr. Brooks formerly served as Chairman of the Board from March 2008 to May 2015.
Noranda Aluminum Holding Corporation produces and sells primary aluminum and rolled aluminum coils in the United States. The company’s Bauxite segment mines, produces, and sells bauxite used for alumina production. Its Alumina segment refines and converts bauxite into alumina, which is used in the production of primary aluminum; and sells smelter grade alumina and alumina hydrate, or chemical-grade alumina.
First Majestic Silver Corp (NYSE:AG), ended its Tuesday’s trading session with -5.16% loss, and closed at $4.96.
First Majestic Silver Corp (AG) declared the voting results for the election of its Board of Directors at its annual general meeting held on May 21, 2015.
First Majestic is a producing silver company focused on silver production in México and is aggressively pursuing the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its corporate growth objectives.
First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver projects in Mexico. The company owns and operates five producing mines, counting the La Encantada silver mine in Coahuila State, the La Parrilla silver mine in Durango State, the Del Toro silver mine in Zacatecas State, the San Martin silver mine in Jalisco State, and the La Guitarra silver mine in Mexico State.
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