Silvercorp Metals Announces $196 Million Budget for ZAAV Project Development
Silvercorp Metals (SVM) said Monday it has a budget of about $196.3 million for its ZAAV joint venture, which includes the development of phase 1 of the Tulkubash gold project and initial spending for phase 2 of the Kyzyltash gold project.The expected spending for this year is $57.3 million and the anticipated spending for next year is $139 million, the company said.ZAAV is a joint venture between Silvercorp, which has a 70% stake and is the operator, and Kyrgyzaltyn, which has a 30% free-carried interest, Silvercorp said.The joint venture holds a 100% interest in the mining license hosting the Tulkubash and Kyzyltash gold projects, as well as surrounding exploration licenses, in the Kyrgyz Republic's Tien Shan area, Silvercorp said.Price: $11.22, Change: $-0.11, Percent Change: -0.93%
