Another winner in the silver surge cycle: Feng Rui and Hillway's visionary布局

In March 2025, international financial media released a research list focusing on mining investments, highlighting a mining company named after “Silver”—Silvercorp Metals Inc.—which attracted industry attention. As 2026 approached, silver prices continued their upward trend, recently surpassing the critical $100 per ounce mark. Investors who had positioned themselves in silver stocks early in the year benefited handsomely, and mining companies focused on silver extraction reaped substantial gains.

However, domestic investors find it difficult to directly invest in Silvercorp—an Ontario-registered mining group listed on the Toronto Stock Exchange (ticker: SVM) and the New York Stock Exchange (ticker: SVM). As a multi-metal mining company, Silvercorp operates across China, Canada, and South America, with significant investments in exploring and extracting precious and base metals such as silver, gold, lead, zinc, and zinc-silver ores.

From Academic Elite to Mining Entrepreneur

Unlike many mining entrepreneurs who built their careers through industry experience, Silvercorp’s founder and leader, Feng Rui, has a strong academic background. As one of the first college students after China reinstated the college entrance exam, Feng Rui excelled academically and earned a Ph.D. from the University of Saskatchewan in Canada in 1992. He then conducted postdoctoral research at the University of Montreal and served as an assistant researcher at the Canadian Geological Survey. During this period, Feng Rui passed the Canadian securities qualification exam, gradually mastering the typical model of startup mining companies—“project discovery + financing + geological exploration + refinancing.”

In 1994, Feng Rui decided to leave academia and officially embark on a mining entrepreneurial path. His years of geological expertise and academic training laid a solid foundation for his later business ventures. This “deep accumulation leading to rapid emergence” trait allowed Feng Rui to quickly stand out in the mining market.

Two Landmark Projects in China’s Mining Sector

Feng Rui gained fame in China’s mining industry through two major projects. The first was the exploration and development of the Changshanhao Gold Mine in Inner Mongolia—this project eventually became the largest heap leach mine in northern China, showcasing Feng Rui’s keen geological exploration skills. The second was the exploration and mining of the Yuelonggou Lead-Zinc-Silver Mine in Henan Province. Feng Rui innovatively promoted the “chicken nest” mining method at this site, systematically integrating scattered, low-grade mineral deposits into a commercially viable mine. This model was later widely adopted and promoted across China’s mining industry. Notably, this approach also demonstrated significant advantages in the comprehensive utilization of associated minerals like zinc sulfide ores.

Strategic Expansion into South American Silver Markets

Feng Rui’s most strategic move was his early deployment in the South American silver market. While deeply cultivating the Chinese market, Silvercorp accelerated its overseas expansion, successfully incubating and acquiring New Pacific Metals Corp., a Canadian exploration company listed on the Toronto Stock Exchange (ticker: NUAG) and the New York Stock Exchange (ticker: NEWP). The company focuses on investing in and developing precious metal deposits in North and South America.

New Pacific’s portfolio in Bolivia includes several high-quality exploration and development projects such as the Silver Sand Silver Mine, Colquiri Silver-Gold Mine, and Silver Needle Silver-Gold Mine. Through continuous large-scale drilling, these projects have achieved significant breakthroughs. Years ago, Feng Rui, as an invited guest at the China International Mining Conference, expressed a long-term optimistic outlook on silver and actively promoted the development of South American silver resources.

The Rewards of Forward-Looking Planning

Time is the best test. Feng Rui’s early strategic deployment in multi-metal fields like silver and zinc sulfide ores has been fully validated during this recent surge in silver prices. From late 2025 to early 2026, Silvercorp, leveraging its South American mineral reserves and production capacity, became one of the biggest beneficiaries of this silver rally. This not only affirms Feng Rui’s strategic vision but also underscores the importance of early planning and sustained investment in the mining sector. For Chinese investors, although direct ownership of Silvercorp shares may be difficult, this case serves as a reminder that identifying undervalued quality companies in the global mineral resource landscape can lead to significant industry cycle opportunities.