Silvercorp Sets $196 Million Budget for Kyrgyz Gold Projects

The investment plan designates $166.3 million to bring the Tulkubash operation online as a 4-million-tonne-per-year heap leach facility. Spending is front-loaded to support infrastructure development, including a crushing plant, an ADR facility, and essential mining auxiliary services. Silvercorp expects to finalize an updated feasibility study for Tulkubash by July 2026, with construction milestones distributed throughout 2026 and 2027.

Simultaneously, the company is committing $30 million to advance the Kyzyltash sulfide project. This second phase focuses on converting inferred resources into proven categories through a rigorous 50,000 to 60,000-meter drilling program. Operations at the site are already underway, utilizing 12 drill rigs across the deposit’s main zones. These efforts serve as a precursor to a Preliminary Economic Assessment and subsequent feasibility studies scheduled for 2027 and 2028, aimed at establishing a long-term production pipeline for the joint venture, which is 70% owned by Silvercorp and 30% by the state-backed Kyrgyzaltyn.