The Phaserl


Early Christmas for Chinese silver miner

by David Bond, 24hGold:

Christmas came early for Silvercorp (NYSE: SVM), the Vancouver-based miner of silver, lead and zinc in the Chinese central province of Henan.

As one of the first round-eyes ever to visit Silvercorp’s flagship Ying Mine there, when the underground property was still under development and the mill foundations were barely poured, we’ve continued to follow this operation with interest – beginning, actually, when at the 2005 Silver Summit confab, Silvercorp founder Rui Feng likened his find to a Sullivan-type deposit similar in scale to northern Idaho’s own Bunker Hill.

Our B.S. detectors went up. Dr. Feng invited us to China for a look so in November of 2005 we went. And those two-foot-thick black and grey veins running throughout the Ying Mine sure did look familiar. Nevermind that the 1,000 tonne/day concentrator hadn’t been built yet; Silvercorp was already getting handsomely paid for its high-grade, smelter-friendly raw muck.

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