September 14, 2011 / 3:48 PM / 7 years ago

UPDATE 1-Silvercorp slams new allegations leveled against it

TORONTO, Sept 14 (Reuters) - Silvercorp Metals (SVM.TO) on Wednesday slammed a new set of fraud allegations leveled against it, arguing that the new report targeting it is merely the effort of short-sellers seeking to drive down the value of its share price.

Shares of China-focused miner Silvercorp have slumped this week, after a new set of allegations against the company were posted on the website. Earlier this month, the company said it had obtained an anonymous letter accusing it of a $1.3 billion fraud. [ID:nN1E7810DH] (Reporting by Euan Rocha; editing by Janet Guttsman)

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