Silvercorp Metals Inc. shares rise 3.24% premarket after filing a $400M base shelf prospectus.

Silvercorp Metals Inc. rose 3.24% in premarket trading, with the company filing a base shelf prospectus and a corresponding registration statement with the SEC. This move allows the company to raise up to $400 million, which can be used for various purposes such as funding its operations, acquisitions, or other corporate activities. The filing of a base shelf prospectus is generally seen as a positive development for the company, as it provides flexibility in raising capital when needed.