SVM.US, a metal mining company, soared 45% year-to-date, with a promising outlook for its Luoning Basin operation.
Shilongwang Mining (SVM.US) recently released the 2024 NI43-101 Technical Report (as of June 30, 2024) for Ying Mining District in Luoning, Henan Province. The report updated the resource and reserve of Ying Mining District, including Shagu Lead-Zinc-Silver Mine, Houzhanggou Silver-Lead Mine, Yankougou Gold-Silver-Lead Mine, Tieoluopu Silver-Lead Mine, Longmenxi Silver-Lead Mine, Longmendong Silver-Lead Mine and Dongcaogou Gold-Silver Mine.
The report showed that the resources in Luoning Mining District include silver, gold, lead and zinc. Compared with the technical report in 2022, the mineral resources and reserves have increased. Since the release of the technical report in 2022 to June this year, Luoning Mining District has produced 445 tons of silver, 64,000 tons of lead, 87,000 tons of zinc and 414 kilograms of gold.
In addition, there is still a potential of about 28,000 tons of lead-zinc-silver ore reserves left in the remaining 14 years of mining service life. The extension of mining service life to 2038 and beyond is still very promising after further exploration and development in the identified inferred resource area.
In general, according to the current mineral reserves, Luoning Mining District is still a very promising project and has the potential to expand its mineral resources through further exploration and development, and extend its mining service life.
According to public information, Shilongwang Mining mainly acquires, explores, develops and produces precious metals and non-ferrous metals such as lead-zinc-silver, gold and lead, and has become one of China's major lead-zinc producers. Luoning Mining District is its flagship mine, with multiple high-quality lead-zinc-silver mines in production, focusing on risk exploration and resource development of lead-zinc-silver mines in the small Qinling Mining Belt in the western part of Henan Province. It has transformed from a company mainly engaged in geological exploration to a large-scale mining enterprise integrating exploration, mining and development, and has been recognized as a national high-tech enterprise.
As of Monday's closing, Shilongwang Mining rose nearly 5%, with a year-to-date gain of 45%. The strong trend of precious metal prices such as gold and lead-zinc is expected to continue to drive the rise of Shilongwang Mining's stock price.