Core Viewpoint - Silvercorp Metals Inc. reported its financial and operational results for Q1 Fiscal 2026, showing a 13% increase in revenue but a decline in net income and earnings per share compared to the previous year [2][6][8]. Financial Results - Revenue for Q1 Fiscal 2026 was $81.3 million, up 13% from $72.2 million in Q1 Fiscal 2025, driven by increased production and higher selling prices for silver and gold [4][6]. - Mine operating earnings decreased by 2% to $35.8 million, while net income attributable to equity holders fell by 17% to $18.1 million, or $0.08 per share [4][8]. - Adjusted earnings attributable to equity holders increased by 2% to $21.0 million, or $0.10 per share, after excluding certain charges [4][9]. - EBITDA attributable to equity holders was $33.8 million, down 9% from the previous year [4][9]. Operational Results - The company produced approximately 1.8 million ounces of silver and 2,050 ounces of gold, with silver equivalent production reaching 2.0 million ounces, representing increases of 6% and 79% respectively [12][15]. - The average selling price for silver rose by 12% to $29.54 per ounce, while gold prices increased by 45% to $2,876 per ounce [4][6]. - Cash cost per ounce of silver increased significantly to $1.11, compared to negative $1.67 in Q1 Fiscal 2025, while all-in sustaining cost per ounce of silver rose by 37% to $13.49 [4][13]. Cash Flow and Expenditures - Net cash generated from operating activities was $48.3 million, a 21% increase from $39.9 million in Q1 Fiscal 2025 [4][9]. - Free cash flow decreased slightly to $22.5 million from $23.6 million in the previous year [10]. - Total capital expenditures in Q1 Fiscal 2026 were $24.2 million, up 23% from $19.7 million in Q1 Fiscal 2025, with significant investments in exploration and development [18]. Safety Incident - A fatality occurred involving a worker at the HZG mine, leading to an investigation and temporary closure of certain mining areas, which may result in a production shortfall of 20-25% for the current quarter [16].