Thank you for standing by. Good morning and afternoon. My name is Annas, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Silvercorp's Fourth Quarter and Full Year Fiscal 2022 Financial Results Conference Call. [Operator Instructions] I would now like to turn the conference over to Mr. Lon Shaver, Vice President, for opening remarks. Please go ahead, sir.

Thank you, Annas. Good morning, everyone. On behalf of the Silvercorp Metals, I'd like to welcome you to the Silvercorp Metals Fourth Quarter and Fiscal 2022 Financial Results Conference Call. We released our results after yesterday's market close, and a copy of the news release, MD&A and financial statements for today's call are available on our website and on SEDAR. Before we get started, I'd like to remind you that certain statements on today's call will contain forward-looking information within the meaning of securities laws. Please review the cautionary statements included in our news release and presentation as well as the risk factors described in our most recent second quarter -- sorry, 10-Q and Form 40-F and AIF. So to review the results. We're pleased with the results we reported for the fourth quarter of fiscal 2022. Recall that this quarter is always impacted by a slowdown due to Chinese New Year. But overall, operations at our mines ran smoothly, as indicated by the production numbers we reported previously. Revenue in Q4 was $41.6 million, up 16% compared to the prior year quarter. And based on production levels and realized prices this quarter, silver was 55% of revenues on a net basis compared to 59% in the same quarter last year. Our fourth quarter net earnings attributable to equity shareholders were $4 million or $0.02 per share compared to $7 million or $0.04 for the same period last year. The main contributor to the decrease was the foreign exchange loss that we recorded during this quarter. If we back out this foreign exchange loss and other items, our adjusted earnings for the quarter were $9.5 million or $0.05 per share compared to $11 million or $0.06 per share for the same period last year. Just as a reminder, adjusted earnings…

[Operator Instructions] Your first question comes from Gabriel Gonzalez with Echelon Capital Markets.

I just wanted to ask if there have been any changes in schedules, procurement or costs in relation to the expansion at Ying, just given the fluid global supply chain situation and reported measures from COVID in some of the larger cities or basically if everything remains more or less on track as per the February press release that provided the cost and scheduling information.

Yes. Thanks, Gabriel. There's kind of 2 questions embedded in there. One, with respect to the program, the plans for the construction, at this point, we don't anticipate any changes. I mean, of course, we're in the planning stage right now. We're not procuring the actual equipment, but we don't see anything that causes us to dramatically change our expectations on that. And of course, we'll keep everyone informed if there are changes both to the timing or budget as we move forward. But right now, everything is moving along on the plans that we had anticipated. And I think tied into your question was if I can sort of use this to elaborate or clarify sort of what we've been experiencing with respect to COVID in China. And that has, to be honest, been very smooth. It has not really been a major disruption. Our mining operations have been operating without any interruptions. We've got measures in place for people who are arriving on site to quarantine prior to joining the crews and joining the rest of the teams. And that has worked well. And to date, we have really had no issues with respect to cases at the operations. The comment regarding other cities, the Shanghai lockdown, I'd say, is probably being treated and handled differently in Beijing. Our employees at our Beijing head office are -- some are working a skeleton crew, are working in the office, and the rest are working from home, but really without much interruption or any real impact on our activities.

[Operator Instructions] There are no further questions at this time. Mr. Shaver, you may proceed.

Well, that's great. Thank you, operator, and thanks, everyone, for tuning in today. I do think the numbers and the results really do speak for themselves. So perhaps we addressed everybody's questions. But if there are any additional questions from anyone on the call, like always, feel free to call or e-mail us. We'd be happy to address anything that you have. And we look forward to updating you again on our next results for our fourth quarter, which we'll be releasing in August. Have a great day.

This concludes today's conference call. You may disconnect your lines. Thank you for participating, and have a pleasant day.