Vancouver's Silvercorp Metals Inc. (TSX:SVM) has completed its $61.95 million purchase of Yangtze Gold Ltd., a private company that owns a silver, lead and zinc mine in China's Guangdong province.
The purchase price was paid with 40% cash and 60% in Silvercorp common shares.
Silvercorp has taken over the mine's operation and is applying for a mining permit for the project.
The company's share price range during the past week: between $7.34 and $7.56; 52-week high: $10.65.