Silvercorp (SVM.TO)

Silvercorp Metals Inc. ("Silvercorp") (TSX:SVM)

is pleased to report the new and compiled results for the drill programs completed between April 2005 up to the end of February, 2006 on the high-grade Ying Silver-Lead-Zinc project in Henan province, China.

Of the 86 holes drilled so far, every hole intercepted the mineralized vein structure and 30 of the holes hit massive galena sheets (MGS) exceeding a 1,250 g/t Ag-equivalent grade cut-off giving a 35% drilling success rate.

From FreeMarketNews.com

With the silver price breaking $10 US per ounce for the first time in 23 years, Silvercorp had impeccable timing for the release of drilling results from its massive drilling program in the Henan province of China. Numerous silver stocks have been on a tear, but few have spiked like Silvercorp, a Vancouver-based silver/lead/zinc play.

From Resource Investor

Clearly the easy money has been made here, but one should not rule out further upside as permits are issued and the Silvercorp moves to full-scale production. They will be amongst the world largest silver producers, and the world lowest-cost producers. It is unclear how much of a discount there will be going forward for China, but management has done a great job, and there are very few large producing silver plays out there for the institutions to bet on. This reality should mitigate the discount, and it is important to keep in mind that with the massive cash flows coming in, the company will be able to diversify if it so chooses, thus minimizes country risk.

Canadian Silver Stock Listing

Top 5 Silver Stocks by Market Capitalization: (last update March 26)

(1) Silver Wheaton (SLW.TO)
(2) Pan American (PAA.TO)
(3) Coeur D'Alene (CDM.TO)
(4) Gammons Lake (GAM.TO)
(5) Silver Standards (SSO.TO)

Silver Companies Market Capitalizations by Alphabet

Abcourt Mines (ABI.V)
28,275,872.00

Apogee Minerals (APE.V)
29,517,469.80

Bear Creek (BCM.V)
240,642,875.22

Coeur D'Alene (CDM.TO)
1,864,122,485.31

ECU Silver (ECU.V)
253,206,099.78

Endeavour (EDR.V)
152,339,439.30

Esperanza Silver (EPZ.V)
67,963,930.20

Excellon (EXN.V)
89,915,379.00

First Majestic (FR.V)
136,257,620.85

First Silver (FSR.TO)
82,597,410.94

Gammon Lake (GAM.TO)
1,466,308,128.00

Genco Resources (GGC.V)
48,694,465.80

Golden Goliath (GNG.V)
20,851,712.00

Great Panther (GPR.V)
62,492,477.11

Huldra Silver (HDA.V)
4,479,201.78

IMA Exploration (IMR.V)
161,736,741.84

Impact Silver (IPT.V)
49,075,579.00

Kimber (KBR.TO)
123,839,474.40

MAG Silver (MAG.V)
136,871,805.00

Minco Silver (MSV.TO)
96,148,779.00

Minera Andes (MAI.V)
129,050,415.36

Minefinders (MFL.TO)

329,956,569.00

Mines Management (MGT.TO)
132,725,455.50

Palmarejo (PJO.V)
846,630,597.12

Pan American (PAA.TO)
2,030,840,430.00

Portal Resources (PDO.V)
14,615,325.76

Revett Minerals (RVM.TO)
75,059,378.75

Sabina Silver (SBB.V)
63,296,697.96

Silver Standards (SSO.TO)
1,320,118,021.30

Silver Wheaton (SLW.TO)
2,414,619,513.72

Silvercorp Metals (SVM.TO)
689,350,214.90

Silvercrest Mines (SVL.V)
25,844,675.00

Southern Silver (SSV.V)
18,457,136.80

Western Silver (WTC.TO)
1,192,658,257.74

Silver News: ETF

Analysts said the fund had potential to attract up to 4,000 tonnes of silver, which would be equal to nearly two months of consumption. The silver market is expected to remain in deficit in the next couple of years as industrial and consumer demand is seen outpacing mine supply, estimated at around 20,000 tonnes in the current year.

Silver News: Silver Wheaton (SLW.TO, SLW)

Friday before the opening bell, Silver Wheaton Corp. (SLW.TO, SLW), a buyer and seller of silver, announced that it had completed the previously announced transaction with Glencore International AG. The company said it had agreed to purchase 4.75 million ounces of silver produced per year, for a period of 20 years, from Glencore, based on production from their Yauliyacu mining operations in Peru.

The company said it would provide an up front payment of US$285 million, comprised of US$245 million in cash and a US$40 million promissory note, and US$3.90 per ounce of silver delivered under the contract with a provision for inflationary adjustment after three years.

The company said Yauliyacu was a low-cost silver/lead/zinc mine located in central Peru and had been in continuous operation for more than 100 years. Yauliyacu is expected to produce an average of 6 million ounces of silver per year during the term of the contract.

Silver Wheaton said in the event that silver produced at Yauliyacu in any year fell below 4.75 million ounces, the amount sold to Silver Wheaton in subsequent years would be enhanced to make up for the shortfall, so long as production allows.

During the term of the contract, Silver Wheaton will have a right of first refusal on any future sales of silver streams from the Yauliyacu mine and a right of first offer on future sales of silver from any other mine currently owned by Glencore.