Core Viewpoint - Silvercorp Metals Inc. has updated the budget and construction schedule for the El Domo Project, with the new budget set at $284 million, reflecting an increase of $44 million from the previous estimate of $240 million [2]. Budget and Cost Estimates - The updated construction budget for the El Domo Project is $284 million, which is an increase from the previous estimate of $240 million [2]. - The VAT rate has been revised from 10% ($19 million) to 15% ($35 million), resulting in a $16 million increase, which accounts for 36% of the total budget growth [3]. - Package 1 construction costs increased by $5.1 million due to design changes and additional construction requirements [3]. - Equipment and material purchases for the process plant increased by $15 million, primarily due to previously missing equipment and underestimated logistics costs [3]. - The estimated construction and installation costs for the process plant rose by $7.2 million based on actual quotes [3]. - The owner's cost increased from $30 million to $32.5 million, reflecting additional expenses and a six-month extension for the construction period [3]. - The contingency budget was reduced from 20% ($32 million) to 8% ($17 million), a decrease of $15 million, due to more accurate estimates [3]. Construction Progress - In 2025, the company spent $44.5 million, approximately 16% of the total new budget, and made significant progress in various construction packages [5]. - Over 2.6 million cubic meters of material were moved for site preparation, and 8.1 km of internal haul roads were built [5]. - The construction camp with a capacity of over 600 beds was completed and commissioned [5]. - The company achieved a 5.4% increase in copper recovery and a 6.2% increase in gold recovery through improved metallurgical processes [5]. Contracting and Bidding - The mining contract for Package 2 is expected to be executed with China Railway 19th Bureau Group Co., Ltd. on a "Unit Cost" basis, valued at $35 million for the construction phase and approximately $63 million for the operations phase over five years [7]. - The contract includes the construction and management of the Tailings Storage Facility (TSF) dam, valued at $8 million [7]. Future Plans - The processing plant's detailed engineering design is expected to be completed by early April 2026, which will initiate the bidding process for construction [8]. - The external powerline, totaling 61.3 km, is expected to be completed in 2027, with backup diesel generators ordered to ensure power availability for the commissioning of the process plant in July 2027 [8].