Silvercorp Completes Acquisition of the Tulkubash/Kyzyltash Gold Projects, Kyrgyzstan

Core Viewpoint - Silvercorp Metals Inc. has successfully completed the acquisition of Chaarat ZAAV CJSC, with a payment of $92 million, and will convert ZAAV into a joint venture with Kyrgyzaltyn, holding a 70% interest [1][2]. Group 1: Acquisition Details - The acquisition of Chaarat ZAAV CJSC was finalized following the Kyrgyz government's waiver of its statutory pre-emptive right [1]. - Silvercorp will operate the joint venture company (JVC) with a 70% interest, while Kyrgyzaltyn will hold a 30% free-carried interest [2]. Group 2: Mining License and Financial Commitments - The JVC plans to extend the validity of its mining license from June 25, 2032, to June 25, 2062, with a subsequent cash payment of $60 million to the National Investment Agency [3]. - ZAAV holds a 100% interest in the mining license for the Tulkubash/Kyzyltash gold projects and surrounding exploration licenses [4]. Group 3: Company Overview - Silvercorp is a Canadian mining company focused on producing silver, gold, lead, and zinc, with a strategy aimed at generating free cash flow, organic growth, and ongoing mergers and acquisitions [6].