Silvercorp Metals (TSE:SVM) has released an update.
Silvercorp Metals Inc., a Canadian mining firm, has announced the lapse of its offer to acquire all ordinary shares of OreCorp Limited due to not meeting the 50.1% minimum acceptance condition by March 22, 2024. The company will still be eligible for an approximately AUD$2.8 million break fee under certain conditions. Silvercorp continues to focus on profitability and growth through free cashflow generation, organic growth via drilling, strategic mergers and acquisitions, and responsible mining practices.
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