03:50 PM EST - Silvercorp Metals Inc. : announced that it has signed a share purchase agreement and a Sino-Foreign cooperative joint venture contract to acquire a 70% equity interest in Yunxiang Mining Co. Ltd., a local private mining company in Hunan Province. Yunxiang's primary asset is the BYP Gold-Lead-Zinc Mine, located 220 km southwest, or a 3 hour drive, from Changsha, Hunan's capital city. The cost of the share purchase and the Joint Venture capital investment is approximately US$33 million for Silvercorp. Silvercorp Metals Inc.
shares T.SVM are trading up $.83 at $12.73.
