Sierra Metals Inc.

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Sierra Metals is a premier Latin American precious and base metals producer with significant resource growth potential. The Company owns and operates three mines in commercial production: the Yauricocha Mine in Peru, the Bolivar and Cusi mines in Mexico.

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Sierra Metals Inc.

lockPrivateGroup

Sierra Metals is a premier Latin American precious and base metals producer with significant resource growth potentia......

people7 Members       (0)

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8020Admin

8 hours

8020Admin posted a press release Sierra Metals Announces the Appointment of Koko Yamamoto to Its Board of Directors in SIERRA METALS INC.

TORONTO


Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or ““Company”) announces the appointment of Ms. Koko Yamamoto to its Board of Directors effective immediately. Ms. Yamamoto will also be joining Sierra Metals’ Audit Committee as its Chairperson.


Ms. Yamamoto is a chartered professional accountant with over 19 years' experience. She is a partner at McGovern, Hurley LLP, a CPAB registered firm, since 2003, and her practice includes a focus on assurance engagements for reporting issuers in the resource sector. Ms. Yamamoto is involved in initial public offerings and private placements, mergers and acquisitions. She is currently a director for Largo Resources Inc. as well as Chair of the Largo Resources Audit Committee. Ms. Yamamoto is registered as a panel auditor with the Investment Industry Regulatory Organization of Canada (IIROC), which enables her to conduct audits of investment dealers. Ms. Yamamoto obtained her CPA CA designation in 2001 and holds a Bachelor of Commerce from the University of British Columbia.


J. Alberto Arias, Chairman of Sierra Metals, commented: On behalf of the Board and Management, I would like to welcome Koko to the Sierra Metals Board of Directors. Koko’s experience in corporate accounting and reporting makes her a valuable addition as an independent director to our Board. We believe that Koko will help Sierra Metals execute on its considerable growth plans and strategic opportunities that it has available at all its properties.”


About Sierra Metals


Sierra Metals Inc. is Canadian based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new discoveries and still has additional brownfield exploration opportunities at all three Mines in Peru and Mexico that are within or close proximity to the existing Mines. Additionally, the Company has large land packages at all three Mines with several prospective regional targets providing longer term exploration upside and mineral resource growth potential.


The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.


For further information regarding Sierra Metals, please visit www.sierrametals.com.


 

Continue to Follow, Like and Watch our progress:


Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including the anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company's operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company's properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company's securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company's compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company's filings with Canadian securities regulators and the U.S. Securities and Exchange Commission ("SEC"), which filings are available at www.sedar.com and www.sec.gov, respectively.


 

This list is not exhaustive of the factors that may affect any of the Company's forward-looking information. Forward-looking information includes statements about the future and are inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company are calculated in accordance with the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the SEC. The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.




Mike McAllister
V.P., Corporate Development
Sierra Metals Inc.
+1 (416) 366-7777
Email: info@sierrametals.com


Igor Gonzales
President & CEO
Sierra Metals Inc.
+1(416) 366-7777



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8020Admin

23 hours

8020Admin posted a press release Sierra Metals Reports Second Quarter 2019 Production Results Including Record Consolidated Quarterly Ore Throughput in SIERRA METALS INC.

TORONTO


Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to report second quarter 2019 production results featuring the highest level of quarterly throughput to date at its Bolivar and Cusi Mines in Mexico.


Results are from Sierra Metals’ three underground mines in Latin America: The Yauricocha polymetallic mine in Peru, and the Bolivar copper and Cusi silver Mines in Mexico.


Second Quarter 2019 Production Highlights



  • Silver production of 0.8 million ounces; a 21% increase from Q2 2018

  • Lead production of 8.1 million pounds; a 14% increase from Q2 2018

  • Gold production of 2,540 ounces; a 40% increase from Q2 2018

  • Copper production of 9.7 million pounds; a 13% increase from Q2 2018

  • Zinc production of 16.6 million pounds; an 18% decrease from Q2 2018

  • Zinc equivalent production of 57.6 million pounds; a 4% increase from Q2 2018

  • Record quarterly throughput at the Bolivar and Cusi Mines in Mexico


The Company achieved record consolidated quarterly throughput, as well as record quarterly throughput and metal production from the Bolivar and Cusi Mines in Mexico. The Company has continued to build on its successful plant expansions and mine production increases in Mexico over the last three quarters which has resulted in record quarterly metal production as the Company reaches its 2019 target of 4,000 tonnes per day (“TPD”) at Bolivar and 1,200 tpd at Cusi. Consolidated production of silver increased 21% to 0.8 million ounces, copper increased by 13% to 9.7 million pounds, lead increased 14% to 8.1 million pounds, zinc declined 18% to 16.6 million pounds, and gold increased 40% to 2,540 ounces compared to Q2 2018.


The Yauricocha Mine experienced a 10% reduction in throughput during Q2 2019 compared to Q2 2018 due to the illegal strike action initiated by members of the Union of the Mine and Metallurgical Workers of Minera Corona on March 19, 2019. This illegal strike was resolved on April 12, 2019, however, resulted in a total of 12 days of lost production during April 2019. Regular operations at the mine and mill resumed on April 14, 2019, and management believes that any production lost during this strike action should not materially affect the Company’s annual production guidance. In fact, the month of May represented a monthly production record at the Yauricocha Mine and June was also over production budget. The reduction in throughput during the strike was offset by higher head grades and recoveries for all metals except zinc at Yauricocha which resulted in a 4% decrease in zinc equivalent pounds produced during Q2 2019 compared to Q2 2018.


At Bolivar, a 20% increase in throughput, and higher silver and gold head grades, and higher copper and silver recoveries resulted in a 19% increase in copper equivalent pounds produced during Q2 2019 compared to Q2 2018. This increase was achieved despite an 11% decrease in copper head grades and gold recoveries, however, the Company expects copper head grades to increase during H2 2019, as more ore is sourced from Bolivar West.


At Cusi, throughput reached approximately 938 tpd during Q2 2019, and the Company continues to work towards reaching the 1,200 tpd mark during Q3 2019. The 76% increase in throughput realized during Q2 2019 resulted in a 41% increase in silver equivalent ounces produced, despite lower head grades and recoveries for all metals as we continue to develop deeper into the Santa Rosa de Lima zone which has higher head grades.


Igor Gonzales, President and CEO of Sierra Metals, commented: “The Company has continued 2019 with consolidated record production results in the second quarter. This includes continued recovery and making up for lost production at Yauricocha despite an illegal strike action which occurred at the end of Q1 and start of Q2 this year. This can also be attributed to a much stronger performance from our Mexican Mines in the second quarter including record production at both of the Bolivar and Cusi Mines. We continued to successfully ramp up our mine and mill expansion plans as well as reap the benefits of operational improvement programs. Going forward we expect to deliver on our annual guidance at Yauricocha while continuing to ramp up and further improve throughput and tonnage at our Mexican operations.



Read more here: https://www.quotemedia.com/portal/quote/?qm_symbol=SMT%3ACC&qmodStoryID=7962456732463995 

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8020Admin

19 days

8020Admin posted a press release Sierra Metals Receives Permits for Additional Surface Exploration Drilling and Tailing Dam Expansion at Its Yauricocha Mine in SIERRA METALS INC.

TORONTO



Expansion to Tailing Facility underway and surface drilling of high value targets has commenced


Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to report that the Company has received its permit to construct the expansion of the tailing dam facility as well as its permit for the surface drilling program at its Yauricocha Mine in Peru.


This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190627005235/en/


Don Leona Targets (Photo: Business Wire)

Don Leona Targets (Photo: Business Wire)



Igor Gonzales, President, and CEO of Sierra Metals commented. “This is exciting news for the Company. Receipt of the construction permit for the tailings dam follows the previously obtained EIA permit. Construction has already begun on the completion of the next lift at the tailing’s facility and is an important step in the process for a future throughput expansion at the Yauricocha Mine. Additionally, surface drilling of four high-value drill targets which were identified as part of a recent Titan 24 geophysical survey and through surface sampling has also begun. We are excited to see the drills turning and look forward to the results and the potential discovery of new mineralized zones.”


He continued “Over the past 18 months, Yauricocha has been successfully drilling near-mine targets identified by Titan 24 from underground drill stations, which was successful, but has many space constraints and limitations. The surface drilling required a long permitting process, but now that has been obtained, will allow us to test previously untested top priority areas from the Titan 24 survey. Our experience with Titan 24 has been extremely positive at our Bolivar copper mine in Mexico identifying important new mineralized areas and we look forward to have the same strategy in Peru.”


Construction at the tailing dam is permitted and will take place in two stages. In the first stage the Company is permitted to complete a two meter lift. Once complete the Company will amplify the area of deposition for the next stage, which will include an additional lift of two more meters. In total, once completed the Company will have finalize a four meter lift that will add approximately three years of capacity, assuming a throughput rate of 3,000 tonnes per day.


All drilling targets have been prioritized by previous geochemistry sampling as well as geophysical work and they are all significant, high priority targets for testing. Areas to be tested as part of a surface drilling program include:


The Doña Leona area located 2.5 kilometers southeast from the Central Yauricocha Mine. This area has already had surface geochemical sampling completed on structures and gaps, which provided values ​​in anomalous silver, zinc, lead, and copper. Furthermore, geophysics from a Titan 24 survey shows significant anomalies in this area. Eight drill holes totaling 8,000 meters will be drilled from five platforms to test these targets for high grade structures.


The El Paso – Éxito areas are located between 3.5 and 5 kilometers southeast of the Central Yauricocha mine. The Éxito mine contains skarn and replacement mineralization and surface sampling detected structures with high values ​​of anomalous lead, zinc, and copper. Geophysics with the Titan 24 geophysical survey have determined important anomalies in the area. Ten drills holes totaling 10,170 meters will be completed from six platforms to test these targets for high grade structures.


The Kilcaska area located 7.5 kilometers southeast of the Central Yauricocha mine is the third target to be tested. This previously exploited area along with surface sampling have produced strong values of anomalous silver, lead, zinc, and copper. Kilcaska has not had any geophysical work completed. Four holes totaling 2,120 meters will be executed from two platforms to test these targets for high grade structures.


The Victoria area located 1.5 kilometers southeast of the Central Yauricocha mine is the fourth target to be tested. The Victoria area has a high geological potential since it has previously had narrow veins exploited with values ​​in anomalous copper, lead, zinc. Likewise, on the surface of this zone, there is a series of quartz veins and veinlets, with anomalous copper, lead and zinc in stockwork type zones. Additionally, outcrops of marble and skarns also contain veins with values ​​of anomalous copper, lead, zinc, and silver. In this area, geophysics from the Titan 24 geophysical survey identified important anomalies in the contact area and the granodiorites. Ten drill holes totaling 9,300 meters will be drilled from five platforms to test these targets for high grade structures.


 

Quality Control


All technical data contained in this news release has been reviewed and approved by Gordon Babcock, P.Eng., Chief Operating Officer and a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.


Americo Zuzunaga, FAusIMM CP (Mining Engineer) and Vice President of Corporate Planning is a Qualified Person and chartered professional qualifying as a Competent Person under the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.


Augusto Chung, FAusIMM CP (Metallurgist) and Consultant to Sierra Metals is a Qualified Person and chartered professional qualifying as a Competent Person on metallurgical processes.


About Sierra Metals


Sierra Metals Inc. is Canadian based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.


The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.


Continue to Follow, Like and Watch our progress:


Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc


 

Forward-Looking Statements


This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company’s operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company’s properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company’s securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company’s compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company’s filings with Canadian securities regulators and the U.S. Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. Forward looking information includes statements about the future and are inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission (“SEC”). The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.




For further information regarding Sierra Metals, please visit www.sierrametals.com or contact:
Mike McAllister
V.P., Investor Relations
Sierra Metals Inc.
+1 (416) 366-7777
Email: info@sierrametals.com


Gordon Babcock, P. Eng.
Chief Operating Officer
Sierra Metals Inc.
+ 1 (416) 366-7777


Igor Gonzales
President & CEO
Sierra Metals Inc.
+1(416) 366-7777



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8020Admin

26 days

8020Admin posted a press release Sierra Metals Announces Results of Annual General Meeting of Shareholders in SIERRA METALS INC.

Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) hereby announces the voting results from the Company’s Annual General Meeting of Shareholders held on Wednesday, June 19, 2019.


A total of 133,898,410 common shares were represented at the meeting, being 82.04% of the Company’s issued and outstanding shares. Shareholders voted in favour of all matters brought before the meeting including the re-appointment of PricewaterhouseCoopers as auditors for the ensuing year, and the election of management’s nominees as directors.


Detailed results of the votes on the election of directors are as follows:


Read more here: https://www.quotemedia.com/portal/quote?qm_symbol=SMT%3ACC&qmodStoryID=5477346046277269 

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8020Admin

1 month

8020Admin posted a press release Sierra Metals Repurchases Royalty at Its Cusi Silver Mine, Mexico in SIERRA METALS INC.

Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to announce that the Company has agreed to repurchase a royalty on its Cusi Silver Mine in Mexico, from Minera Cusi SA de CV for US$4.0 million. The royalty agreement required the Company to pay a 3% royalty on the net revenues generated by the mine, less transportation costs, for the life of the mine. The Company has already paid US$2.5 million upon signing the repurchase contract on May 10, 2019 and is required to pay a further US$1.5 million on May 10, 2021.


Igor Gonzales, President, and CEO of Sierra Metals stated, “The acquisition of this royalty agreement is strategically important to Sierra Metals as it enhances the cost structure of our operations at a time when we are significantly expanding our production capacity at our Cusi Mine and Malpaso processing plant.”


With this repurchase, Sierra Metals will no longer have any royalties on any of its properties or mines, with the exception of those that are legally imposed by the local governments.


About Sierra Metals


Sierra Metals Inc. is Canadian based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new discoveries and still has additional brownfield exploration opportunities at all three Mines in Peru and Mexico that are within or close proximity to the existing Mines. Additionally, the Company has large land packages at all three Mines with several prospective regional targets providing longer term exploration upside and mineral resource growth potential.


The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.


Continue to Follow, Like and Watch our progress:


Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including the anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company's operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company's properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company's securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company's compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company's filings with Canadian securities regulators and the U.S. Securities and Exchange Commission ("SEC"), which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company's forward-looking information. Forward-looking information includes statements about the future and are inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company are calculated in accordance with the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the SEC. The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.





For further information regarding Sierra Metals, please visit www.sierrametals.com or contact:


Mike McAllister
V.P., Corporate Development
Sierra Metals Inc.
+1 (416) 366-7777
Email: info@sierrametals.com


Igor Gonzales
President & CEO
Sierra Metals Inc.
+1(416) 366-7777


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8020Admin

2 months

8020Admin posted a press release Sierra Metals Reports Consolidated Financial Results for the First Quarter of 2019 Conference Call May 14, 2019 AT 10:30 AM (EDT) in SIERRA METALS INC.

TORONTO



(All $ figures reported in USD)



  • Adjusted EBITDA of $12.0 million in Q1 2019 decreased from $27.4 million in Q1 2018

  • Operating cash flows before movements in working capital of $11.8 million in Q1 2019 decreased from $27.4 million in Q1 2018

  • Revenue from metals payable of $49.2 million in Q1 2019 decreased from $61.7 million in Q1 2018 due to lower throughput and lower realized metal prices

  • Q1 2019 consolidated copper production of 7.7 million pounds, consolidated silver production of 0.7 million ounces, consolidated zinc production of 16.4 million pounds, consolidated lead production of 7.0 million pounds, and consolidated gold production of 1,986 ounces; a 4% decrease, 16% increase, 10% decrease, a 10% increase, and a 2% increase respectively, compared to Q1 2018, management expects that annual production guidance will still be met(1)

  • Record quarterly throughput at the Cusi Mine in Mexico

  • $23.9 million of cash and cash equivalents as at March 31, 2019

  • Net Debt of $45.0 million as at March 31, 2019

  • The Company through its Normal Course Issuer Bid has to date repurchased and cancelled a total of 907,266 shares at an average VWAP of C$2.04

  • Shareholder conference call to be held Tuesday, May 14, 2019, at 10:30 AM (EST)


(1) Silver equivalent ounces and copper and zinc equivalent pounds for Q1 2019 were calculated using the following realized prices: $15.57/oz Ag, $2.85/lb Cu, $0.94/lb Pb, $1.23/lb Zn, $1,305/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for Q1 2018 were calculated using the following realized prices: $16.75/oz Ag, $3.14/lb Cu, $1.15/lb Pb, $1.56/lb Zn, $1,334/oz Au.



Sierra Metals Inc. (TSX:SMT)(BVL:SMT)(NYSE American:SMTS) (“Sierra Metals” or the “Company”) today reported revenue of $49.2 million and adjusted EBITDA of $12.0 million on throughput of 568,401 tonnes and metal production of 4.0 million silver equivalent ounces, or 21.8 million copper equivalent pounds, or 50.6 million zinc equivalent pounds for the three month period ended March 31, 2019.


The Company has continued to be successful in maintaining positive operating cash flow generation from its existing operations in order to reduce debt levels, fund required capital expenditures, and maintain liquidity.


Despite the loss of 12 days of production at the Yauricocha Mine during March 2019 due to the illegal strike action which has subsequently been resolved, the mine continued its strong operational performance during Q1 2019, realizing an increase in zinc equivalent metal production compared to Q1 2018. The revenues and Adjusted EBITDA generated during Q1 2019 allowed the Company to fund its capital expenditure programs and repay some of the existing debt obligations, despite a challenging metal price environment.


The Company achieved record quarterly throughput from the Cusi Mine, and the third highest quarterly throughput from the Bolivar Mine, continuing the successful production increases realized in Mexico during 2018. Consolidated production of silver increased 16% to 0.7 million ounces, copper declined 4% to 7.7 million pounds, lead increased 10% to 7.0 million pounds, zinc declined 10% to 16.4 million pounds, and gold increased 2% to 1,986 ounces compared to Q1 2018.


Igor Gonzales, President, and CEO of Sierra Metals stated: “The first quarter has presented us with several challenges including an illegal strike at Yauricocha, as well as slower than expected ramp up of throughput at Bolivar and Cusi with lower head grades and recoveries. I want to assure shareholders that management remains focused on the expansions in Mexico and improving tonnage, head grades, and recovery rates which in turn will help to lower costs. Also, as noted above, it still bears mentioning that in Q1 2019 Yauricocha saw an increase in zinc equivalent metal production, Cusi had record throughput and Bolivar had a 1% increase in throughput over Q1 2018. Subsequent to Q1 2019, throughput rates continue to improve. At Yauricocha the strike has been settled and the mine is working to full capacity. In Mexico, production increases are expected to become more apparent in late Q2 2019 when we should reach higher throughput rates at both Bolivar and Cusi. Production is also expected to be higher in the latter half of 2019 when the mines are running at the higher throughput rates. Cash flow continues to be strong and with continued efforts, we expect to see further improvements in cash flow and good returns on the capital being invested. Management expects that the Company will still be within the annual production guidance provided.


We continue to modernize and improve all our Mines, implementing best operational practices. These improvements are expected to allow for the Company to increase metal production over the course of the coming year. Our Company-wide ongoing brownfield exploration programs should also lead to further significant growth in reserves and resources, which will add to the value of our assets during the year ahead.”


He continued, “Sierra Metals’ balance sheet remains strong with the liquidity needed to meet our operational and growth expenditure requirements. The Company is on-track for further growth in 2019 based upon positive PEA studies which demonstrates robust growth opportunities for the Company at all Mines. We continue working on Life of Mine plans which are expected to be completed in mid-2019. Furthermore, NI 43-101 Technical Reports are expected to be completed for the Yauricocha Mine by the end of Q2 2019 and for Bolivar and Cusi Mines by the end of Q4 2019. We are very optimistic that these updated reports will provide for additional reserves and resources at all Mines.”


The following table displays selected financial and operational information for the three months ended March 31, 2019:



Read more here: https://www.quotemedia.com/portal/quote?qm_symbol=SMT%3ACA&qmodStoryID=8239187215091459 

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8020Admin

3 months

8020Admin posted a press release Sierra Metals to Release Q1-2019 Financial Results on May 13th, 2019 in SIERRA METALS INC.


TORONTO

Shareholder Conference Call and Webcast to be held on Tuesday May 14th, 2019 at 10:30 AM EDT


Sierra Metals Inc. (TSX:SMT) (NYSE American:SMTS) (BVL:SMT) (“Sierra Metals” or the “Company”) will release its Q1-2019 financial results on Monday May 13, 2019 after Market close. Senior Management will also host a webcast and conference call on Tuesday May 14, 2019 at 10:30am EDT. Details of the Conference Call and Webcast are as follows:


Via Webcast:


A live audio webcast of the meeting will be available on the Company’s website:


https://event.on24.com/wcc/r/1956428/CAFED0BBE1AF315572FFBCA7456DFCF6


The webcast along with presentation slides will be archived for 180 days on www.sierrametals.com.


Via phone:


For those who prefer to listen by phone, dial-in instructions are below. To ensure your participation, please call approximately five minutes prior to the scheduled start time of the call.


Participant Number (Toll Free North America): (833) 245-9659
Participant Number (Toll Free Peru): 0800-71-476
Participant Number (International): +1 (647) 689-4231
Conference ID: 6988769


About Sierra Metals


Sierra Metals Inc. is a Canadian-based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new discoveries and still has additional brownfield exploration opportunities at all three mines in Peru and Mexico that are within or close proximity to the existing mines. Additionally, the Company has large land packages at all three mines with several prospective regional targets providing longer term exploration upside and mineral resource growth potential.


The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.


For further information regarding Sierra Metals, please visit www.sierrametals.com.


Continue to watch our progress at:
Web: www.sierrametals.com
Twitter: sierrametals
Facebook: SierraMetalsInc
LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company’s operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company’s properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company’s securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company’s compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company’s filings with Canadian securities regulators and the U.S. Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. Forward looking information includes statements about the future and are inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company are calculated in accordance with the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the SEC. The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.




Mike McAllister
Vice President, Investor Relations
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: info@sierrametals.com


Igor Gonzales
President & CEO
Sierra Metals Inc.
Tel: +1 (416) 366-7777


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8020Admin

3 months

8020Admin posted a press release Sierra Metals Reports Q1-2019 Financial Results at Its Sociedad Minera Corona Subsidiary in Peru in SIERRA METALS INC.

Sierra Metals Inc. (TSX:SMT, BVL:SMT) (“Sierra Metals” or the “Company”) announces the filing of Sociedad Minera Corona S.A.’s (“Corona”) unaudited Financial Statements and the Management Discussion and Analysis (“MD&A”) for the first quarter of 2019 (“Q1 2019”).


The Company holds an 81.8% interest in Corona. All amounts are presented in US dollars unless otherwise stated, and have not been adjusted for the 18.2% non-controlling interest.


Corona’s Highlights for the Three Months Ended March 31, 2019



  • Revenues of US$35.3 million vs. US$46.6 million in Q1 2018

  • Adjusted EBITDA of US$13.7 million vs. US$24.2 million in Q1 2018

  • Total tonnes processed of 233,814 vs. 271,389 in Q1 2018

  • Net production revenue per tonne of ore milled decreased by 12% to US$147.75

  • Cash cost per zinc equivalent payable pound lower by 5% to US$0.54

  • All in sustaining cost (“AISC”) per zinc equivalent payable pound higher by 4% to US$0.85

  • Zinc equivalent production of 35.9 million pounds vs. 34.8 million pounds in Q1 2018

  • $13.3 million of cash and cash equivalents as at March 31, 2019

  • $46.8 million of working capital as at March 31, 2019


Despite the loss of 12 days of production at the Yauricocha Mine during March due to the illegal strike action which has subsequently been resolved, the mine continued its strong operational performance during Q1 2019, realizing an increase in zinc equivalent metal production compared to Q1 2018. The revenues and Adjusted EBITDA generated during Q1 2019 allowed the Company to fund its capital expenditure programs and repay all of the existing debt obligations, despite a challenging metal price environment. Cash costs remained consistent quarter over quarter, while there was a slight increase in AISC during Q1 2019 due to the increase in treatment and refining charges related to the zinc concentrate produced.


Igor Gonzales, President and CEO of Sierra Metals commented, “The strike resulted in lower tonnage processed for the first quarter. However, we have prepared a forecast for the remainder of the year to try to recover as much tonnage as possible and stay within guidance at Yauricocha. Despite the lower tonnage in the first quarter, I would like to note that Yauricocha still realized higher zinc equivalent production from higher head grades except for gold and higher recoveries. The Company still saw relatively strong revenue and adjusted EBITDA for the quarter albeit lower than the same quarter in 2017. We continue to reap the benefit of improvements to the Mine such as the shaft rehabilitation and the new Yauricocha tunnel and expect these improvements to continue to benefit us through the remainder of the year.


Moving on from the strike, 2019 still represents a critical year for projects, improvements, and exploration at Yauricocha. Having received our Environmental Impact Assessment Permit for the Mine to complete the next level of the tailings deposition facility, we have begun planning and are awaiting approval for our construction permit. We are also continuing to sink the Yauricocha shaft towards the 1270 level which provides access to further reserves and resources at the Mine with loading pockets to be added on the 1210 level. Work will also commence on the ramp connecting the 920 level with the 720 level of the Yauricocha Mine providing for an additional 10,000 tonnes per month of increased capacity to move ore and waste from the Mine. Furthermore, we continue to work towards the completion of a Life of Mine Plan and updated NI 43-101 Technical Report for Reserves and Resources at Yauricocha expected by mid year 2019. We have the right team in place to manage these projects and the permitting and planning needed to see projects and exploration programs move ahead as planned at the mine.”


He concluded, “Despite the strike set back, Corona continues to have a solid balance sheet and strong liquidity. Management remains optimistic that continued operational efficiencies and future operational and resource growth are possible at Yauricocha.”


The following table displays selected unaudited financial information for the three months ended March 31, 2019:


Read more here: https://www.quotemedia.com/portal/quote/?qm_symbol=SMT%3ACA&qmodStoryID=8647914288752476 

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8020Admin

3 months

8020Admin posted a press release Sierra Metals Reports First Quarter 2019 Production Results in SIERRA METALS INC.

Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to report first quarter 2019 production results featuring the highest level of quarterly throughput to date at its Cusi Mine in Mexico.


Results are from Sierra Metals’ three underground mines in Latin America: The Yauricocha polymetallic mine in Peru, and the Bolivar copper and Cusi silver Mines in Mexico.


First Quarter 2019 Production Highlights



  • Silver production of 0.7 million ounces; a 16% increase from Q1 2018

  • Lead production of 7.0 million pounds; a 10% increase from Q1 2018

  • Gold production of 1,986 ounces; a 2% increase from Q1 2018

  • Copper production of 7.7 million pounds; a 4% decrease from Q1 2018

  • Zinc production of 16.4 million pounds; a 10% decrease from Q1 2018

  • Zinc equivalent production of 50.6 million pounds; a 7% increase from Q1 2018

  • Record quarterly throughput at the Cusi Mine in Mexico

  • Production lost during the illegal strike action at Yauricocha should not materially affect the Company’s annual production guidance


Read more here: https://quotemedia.com/portal/quote?qm_symbol=SMT%3ACC&qmodStoryID=6675883515604917  

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8020Admin

3 months

8020Admin posted a press release Sierra Metals Announces Changes to the Board of Directors with the Appointment of Ricardo Arrarte and the Resignation of Philip Renaud in SIERRA METALS INC.

TORONTO


Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) announces the appointment of Mr. Ricardo Arrarte to the Board of Directors who will fill the vacancy left by the resignation of Mr. Philip Renaud who is resigning to focus more of his time on other business ventures. These changes are effective immediately.


Mr. Arrarte is a Director with an affiliate of the private equity firm Arias Resource Capital Management LP and is also the Chief Executive Officer for Cautivo Mining Inc. Mr. Arrarte is a Mining and Mechanical Engineer with over 20 years’ experience in management, operations, and consulting for mining companies. Mr. Arrarte has worked with Hochschild Mining PLC as Operations Manager in charge of four silver mines in Peru, Compania Minera Caudalosa SA as Chief Executive Officer, Consorcio Minero Horizonte as Planning and Engineering Manager, Buenavetura Ingenieros SA – BISA as an Engineering Consultant, Fosfatos Del Pacifico SA as Mine Manager, and Cementos Pacasmayo SAA as Geology and Mine Central Manager. Mr. Arrarte is experienced in mine and plant design, managing mining operations, production and costs with large teams of personnel. Mr. Arrarte earned his Mining and Mechanical Engineering degrees from Pontifica Universidad Catolica Del Peru and his MBA from the George Washington University in Washington, D.C.


On his departure, Mr. Renaud commented “It has been a great pride for me to be part of the growth and value creation process at Sierra Metals since 2003. I am confident of the strong fundamentals of the company in the future.”


J. Alberto Arias, Chairman of Sierra Metals, commented: “I want to express my gratitude to Philip for his many years of contribution to the Board of Directors of Sierra Metals. Philip’s commitment, enthusiasm and loyalty to the Company were appreciated by the Board and Management. I wish him all the best in his future endeavors.”


He continued, “On behalf of the Board and Management I would like to welcome Ricardo to the Sierra Metals Board of Directors. Ricardo’s experience in the Latin American mining industry makes him a valuable addition to our Board. We believe that Ricardo will help Sierra Metals realize the considerable growth and strategic opportunities that the Company presently has available at all of its properties.”


About Sierra Metals


Sierra Metals Inc. is Canadian based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new discoveries and still has additional brownfield exploration opportunities at all three Mines in Peru and Mexico that are within or close proximity to the existing Mines. Additionally, the Company has large land packages at all three Mines with several prospective regional targets providing longer term exploration upside and mineral resource growth potential.


The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.


For further information regarding Sierra Metals, please visit www.sierrametals.com.


Continue to Follow, Like and Watch our progress:


Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including the anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company's operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company's properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company's securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company's compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company's filings with Canadian securities regulators and the U.S. Securities and Exchange Commission ("SEC"), which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company's forward-looking information. Forward-looking information includes statements about the future and are inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company are calculated in accordance with the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the SEC. The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.




Mike McAllister
V.P., Corporate Development
Sierra Metals Inc.
+1 (416) 366-7777
Email: info@sierrametals.com


Igor Gonzales
President & CEO
Sierra Metals Inc.
+1(416) 366-7777



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8020Admin

3 months

8020Admin posted a press release Sierra Metals Confirms High Grade Mineralized Extensions to the Bolivar West Zone, at the Bolivar Mine, Mexico in SIERRA METALS INC.

Sierra Metals Inc. (TSX:SMT) (BVL:SMT) (NYSE AMERICAN:SMTS) (“Sierra Metals” or “the Company”) announces positive results from a recent drilling program designed to test the continuity and characteristics of geophysical anomalies identified in a recent Titan 24 Geophysical Survey. The areas drilled had been deemed as high-value targets within the Bolivar West zone, located at the Bolivar Mine, Chihuahua, Mexico. The Bolivar Mine is situated within the Piedras Verdes Mining District, located within the major north-northwest trending Sierra Madre Precious Metals Belt which extends across the states of Chihuahua, Durango, and Sonora in northwest Mexico.


 


Read more here: https://quotemedia.com/portal/quote/?qm_symbol=SMT%3ACC&qmodStoryID=7112194578909508 

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8020Admin

4 months

8020Admin posted a press release Sierra Metals Reports 2018 Consolidated Financial Results Including $90.1 Million of Operating Cash Flows before Movements in Working Capital Conference Call March 29, 2019 at 10:30 Am (EDT) in SIERRA METALS INC.

Sierra Metals Inc. (TSX:SMT)(BVL:SMT)(NYSE American:SMTS) (“Sierra Metals” or the “Company”) today reported revenue of $232.4 million and adjusted EBITDA of $89.8 million on throughput of 2,325,288 tonnes and metal production of 18.0 million silver equivalent ounces, 95.2 million copper equivalent pounds, and 215.1 million zinc equivalent pounds for the year ended December 31, 2018.


Read more here:  https://quotemedia.com/portal/quote/?qm_symbol=SMT%3ACC&qmodStoryID=7042590673168035 

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Media Relations posted an update in SIERRA METALS INC.

4 months

MI3 Financial Communications hosts Sierra Metals in Ottawa at their Dinner Series Investor forum


Thumb mi3 ottawa circuit

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8020Admin

4 months

8020Admin posted a press release Sierra Metals Announces Illegal Strike Action from Unionized Workers at the Yauricocha Mine, Peru in SIERRA METALS INC.

Sierra Metals Inc. (TSX:SMT) (NYSE American:SMTS) (BVL:SMT) (“Sierra Metals” or the “Company”) today announced that employees who are members of the Union of the Mine and Metallurgical Workers of Minera Corona, representing approximately 66% of the employees at the Company’s Yauricocha Mine in Peru, have initiated a strike action. The strike is in protest of contractor changes being made as part of regular operations at the Mine. While only the unionized workers have initiated the strike, the Company has suspended all mining and milling activities for the safety of all employees as of early Tuesday morning, March 19, 2019. The Peruvian Ministry of Labour upon receiving notification by the Union of their intent to strike indicated that the strike could not proceed. Once the strike materialized, they deemed the strike as illegal under current legislation.


Igor Gonzales, President, and CEO commented, “Precautions have been taken to safeguard all employees as well as the plant, property, and equipment during the strike. Management believes that this strike action will not materially affect the Company’s annual production guidance or mine budget.”


About Sierra Metals


Sierra Metals Inc. is a Canadian-based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and it's Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new discoveries and still has additional brownfield exploration opportunities at all three mines in Peru and Mexico that are within or close proximity to the existing mines. Additionally, the Company has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.


The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS.”


For further information regarding Sierra Metals, please visit www.sierrametals.com.


Continue to Follow, Like and Watch our progress:


Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company’s operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company’s properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company’s securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company’s compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company’s filings with Canadian securities regulators and the U.S. Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. Forward looking information includes statements about the future and are inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company are calculated in accordance with the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the SEC. The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.




Mike McAllister
V.P. Corporate Development
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: info@sierrametals.com


Gordon Babcock
Chief Operating Officer
Sierra Metals Inc.
Tel: +1 (416) 366-7777


Igor Gonzales
President & CEO
Sierra Metals Inc.
Tel: +1 (416) 366-7777


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8020Admin

4 months

8020Admin posted a press release Sierra Metals Inc. Announces Closing of New Senior Secured US$100 Million Corporate Credit Facility in SIERRA METALS INC.

Sierra Metals Inc. (TSX:SMT) (NYSE American:SMTS) (BVL:SMT) (“Sierra Metals” or the “Company”) announces today that it has entered into a new six-year senior secured corporate credit facility (“Corporate Facility”) with Banco de Credito del Peru (“BCP”) that provides funding of up to US$100 million effective March 8, 2019. The Corporate Facility provides the Company with additional liquidity and will provide the financial flexibility to fund future capital projects in Mexico as well as corporate working capital requirements. The Company will also use the proceeds of the new facility to repay existing debt balances in the near term.


The most significant terms of the Corporate Facility are as follows:


- Term: 6-year term maturing March 2025
- Principal Repayment Grace Period: 2 years
- Principal Repayment Period: 4 years
- Interest Rate: 3.15% + LIBOR 3M


The Corporate Facility is subject to customary covenants, including consolidated net leverage and interest coverage ratios and customary events of default.


Igor Gonzales, President and CEO of Sierra Metals commented, “The new Corporate Facility combined with our strong cash flow provides greater financial flexibility to our capital structure and will enhance our ability to implement growth initiatives in line with the Company’s strategic plan. The main use of this facility is to repay the existing BCP credit facility at our Diabras Peru subsidiary, which was established at the time of the Sociedad Minera Corona acquisition in 2011. The new structure provides a more efficient capital structure that would allow us to better meet the growth plans for Sierra Metals in the future.”


About Sierra Metals


Sierra Metals Inc. is a Canadian-based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new discoveries and still has additional brownfield exploration opportunities at all three mines in Peru and Mexico that are within or close proximity to the existing mines. Additionally, the Company has large land packages at all three mines with several prospective regional targets providing longer term exploration upside and mineral resource growth potential.


The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.


For further information regarding Sierra Metals, please visit www.sierrametals.com.


Continue to Follow, Like and Watch our progress:


Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company’s operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company’s properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company’s securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company’s compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company’s filings with Canadian securities regulators and the U.S. Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. Forward looking information includes statements about the future and are inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company are calculated in accordance with the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the SEC. The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.


 





Mike McAllister
VP, Corporate Development
Sierra Metals Inc.
+1 (416) 366-7777
info@sierrametals.com


Ed Guimaraes
CFO
Sierra Metals Inc.
+1 (416) 366-7777


Igor Gonzales
President & CEO
Sierra Metals Inc.
+1 (416) 366-7777


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8020Admin

4 months

8020Admin posted a press release Sierra Metals to Release Q4 and Year-End 2018 Consolidated Financial Results on March 28, 2019 in SIERRA METALS INC.


Shareholder Conference Call and Webcast to be held on Friday March 29, 2019



Sierra Metals Inc. (TSX: SMT) (NYSE American: SMTS) (BVL: SMT) (“Sierra Metals” or the “Company”) will release its Q4 and Year-End 2018 consolidated financial results on Thursday, March 28, 2019 after Market close. Senior Management will also host a webcast and conference call on Friday, March 29, 2019 at 10:30am ET. Details of the Conference Call and Webcast are as follows:


Via Webcast:


A live audio webcast of the meeting will be available on the Company’s website: https://event.on24.com/wcc/r/1898495/E8829E56C3B2257B5C944637465B69C3


The webcast along with presentation slides will be archived for 180 days on www.sierrametals.com.


Via phone:


For those who prefer to listen by phone, dial-in instructions are below. To ensure your participation, please call approximately five minutes prior to the scheduled start time of the call.


Participant Number (Toll Free North America): (833) 245-9659
Participant Number (Toll Free Peru): 0800-71-476
Participant Number (International): +1 (647) 689-4231
Conference ID: 1687775


About Sierra Metals


Sierra Metals Inc. is a Canadian-based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new discoveries and still has additional brownfield exploration opportunities at all three mines in Peru and Mexico that are within or close proximity to the existing mines. Additionally, the Company has large land packages at all three mines with several prospective regional targets providing longer term exploration upside and mineral resource growth potential.


The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.


For further information regarding Sierra Metals, please visit www.sierrametals.com.


Continue to watch our progress at:


Web: www.sierrametals.com
Twitter: sierrametals
Facebook: SierraMetalsInc
LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company’s operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company’s properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company’s securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company’s compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company’s filings with Canadian securities regulators and the U.S. Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. Forward looking information includes statements about the future and are inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company are calculated in accordance with the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the SEC. The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.




Mike McAllister
Vice President, Corporate Development
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: info@sierrametals.com


Igor Gonzales
President & CEO
Sierra Metals Inc.
Tel: +1 (416) 366-7777


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8020Admin

4 months

8020Admin posted a press release Sierra Metals Announces 2019 Cost, and Capex Guidance in SIERRA METALS INC.


Completion of New Credit Facility Expected by End of Q1 2019


Sierra Metals Inc. (TSX:SMT) (BVL:SMT) (NYSE AMERICAN:SMTS) (“Sierra Metals” or “the Company”) is reporting 2019 cost, and capex guidance which follows the 2019 production guidance previously issued (see press release dated January 24, 2019). Also, the company is close to finalizing a new credit facility which will replace the existing debt structure while providing additional liquidity.


2019 Cost Guidance


A mine by mine breakdown of 2019 production guidance, cash costs and all-in sustaining costs (“AISC”) are included in the table below. Cash costs and AISC guidance is shown per zinc equivalent payable pound at Yauricocha, copper equivalent payable pound at Bolivar, and silver equivalent payable ounce at Cusi.


Read more here:  https://quotemedia.com/portal/quote/?qm_symbol=SMT%3ACC&qmodStoryID=8320194760247511 

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8020Admin

4 months

8020Admin posted a press release Sierra Metals Reports Strong Q4-2018 Financial Results at its Sociedad Minera Corona Subsidiary in Peru in SIERRA METALS INC.

TORONTO, Feb. 15, 2019 /CNW/ - Sierra Metals Inc. (TSX:SMT, BVL:SMT) ("Sierra Metals" or the "Company") announces the filing of Sociedad Minera Corona S.A.'s ("Corona") audited Financial Statements and the Management Discussion and Analysis ("MD&A") for the fourth quarter of 2018 ("Q4 2018"). 


The Company holds an 81.8% interest in Corona. All amounts are presented in US dollars unless otherwise stated, and have not been adjusted for the 18.2% non-controlling interest.


Corona's Highlights for the Three Months Ended December 31, 2018



  • Revenues of US$39.2 million vs. US$38.2 million in Q4 2017

  • Adjusted EBITDA of US$17.4 million vs. US$17.5 million in Q4 2017

  • Total tonnes processed of 268,363 vs. 254,933 in Q4 2017

  • Net production revenue per tonne of ore milled increased by 2% to US$144.11

  • Cash cost per zinc equivalent payable pound lower by 7% to US$0.52

  • All in sustaining cost ("AISC") per zinc equivalent payable pound lower by 19% to US$0.73

  • Zinc equivalent production of 40.6 million pounds vs. 35.8 million pounds in Q4 2017

  • $17.9 million of cash and cash equivalents as at December 31, 2018

  • $41.1 million of working capital as at December 31, 2018


Read more here: https://quotemedia.com/portal/quote/?qm_symbol=SMT%3ACC&qmodStoryID=7245715730213275 

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8020Admin

4 months

8020Admin posted a press release Sierra Metals Receives Approval for Yauricocha Mine Environmental Impact Assessment for the Expansion of the Tailings Deposition Facility in SIERRA METALS INC.


TORONTO, Feb. 13, 2018 /CNW/ - Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) ("Sierra Metals" or "the Company") reports that the Company's subsidiary in Peru (Sociedad Minera Corona, S.A.) has received approval from SENACE (National Environmental Certification Service) whom are the agency responsible for the evaluation of natural resources and production projects in Peru with respect to its recent Environmental Impact Assessment (EIA) Study for the expansion of the tailings deposition facility at the Yauricocha mine.


Igor Gonzales, President and CEO of Sierra Metals commented, "Having now received approval for the EIA study at Yauricocha, we can now proceed to obtain a construction permit for the next phase of the tailings deposition facility, and to commence planning for an expanded waste rock facility.  Once those steps have been completed, we would then be able to complete a final submission of an ITS document, which is required for any potential expansion of the Mine. The Company remains committed to strict compliance with regulatory permits in Peru and Mexico in the development and organic growth of all its operating mines."


About Sierra Metals


Sierra Metals Inc. is Canadian based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.


The Company's Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol "SMT" and on the NYSE American Exchange under the symbol "SMTS".


Continue to Follow, Like and Watch our progress:


Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains "forward-looking information" and "forward-looking statements" within the meaning of Canadian and U.S. securities laws related to the Company (collectively, "forward-looking information"). Forward-looking information includes, but is not limited to, statements with respect to the Company's operations, including anticipated developments in the Company's operations in future periods, the Company's planned exploration activities, the adequacy of the Company's financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential" or variations thereof, or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company's operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company's properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company's securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company's compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company's filings with Canadian securities regulators and the U.S. Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company's forward-looking information. Forward looking information includes statements about the future and are inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission ("SEC"). The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.


Cision View original content:http://www.prnewswire.com/news-releases/sierra-metals-receives-approval-for-yauricocha-mine-environmental-impact-assessment-for-the-expansion-of-the-tailings-deposition-facility-300794730.html


SOURCE Sierra Metals Inc.


View original content: http://www.newswire.ca/en/releases/archive/February2019/13/c2045.html

regarding Sierra Metals, please visit www.sierrametals.com or contact: Mike McAllister, V.P., Corporate Development, Sierra Metals Inc., +1 (416) 366-7777, Email: info@sierrametals.com; Gordon Babcock, Chief Operating Officer, Sierra Metals Inc., + 1 (416) 366-7777; Igor Gonzales, President & CEO, Sierra Metals Inc., +1(416) 366-7777

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8020Admin

4 months

8020Admin posted a press release Sierra Metals Reports Strong 2018 Production Results and Announces 2019 Production Guidance in SIERRA METALS INC.



  • Continuing a 10-year track record of consolidated annual ore throughput growth



  • Record quarterly ore throughput at both the Bolivar and Cusi Mines



TORONTO, Jan. 24, 2019 /PRNewswire/ - Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) ("Sierra Metals" or "the Company") is pleased to report fourth quarter 2018 and full year 2018 production results, as well as 2019 production guidance.  2019 cost and capital expenditure guidance will be provided in February as the planning and costing of various capital projects, which have been recently added or modified, are currently being completed.


Read more here: https://quotemedia.com/portal/quote/?qm_symbol=SMT%3ACC&qmodStoryID=4518000553072659 

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8020Admin

4 months

8020Admin posted a press release Sierra Metals Reports Construction at Bolivar Mine/Mill in Mexico Has Been Completed Ahead of Schedule in SIERRA METALS INC.


Ramp Up Initiated to Take Throughput to 3,600 TPD From 3,000 TPD

TORONTO, Jan. 9, 2019 /CNW/ - Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) ("Sierra Metals" or "the Company") reports that the Company's expansion plans are on track at the Bolivar Mine in Mexico. In July 2018 we announced the results of a preliminary economic assessment at Bolivar to achieve a sustainable and staged increase in mine production and mill throughput from 3,000 tonnes per day ("TPD"), to 3,600 TPD in Q1-2019, and to 5,000 TPD by mid-2020.


Completion of the expansion included the installation of a refurbished mill, an electrical substation with 1250 KVA of capacity, a secondary crusher and a hydrocyclone cluster that allows for finer grind size optionality that is estimated to provide a 6% increase in copper recoveries from 80% to 86% at Bolivar Mine. The expansion was completed with a world class safety performance with zero lost time incidents and zero accidents reported. The Company used local engineering firms and local qualified contractors and technicians for the expansion project, with Sierra Metals staff conducting most of the supervision.


Igor Gonzales, President and CEO of Sierra Metals commented, "We are very pleased with the progress made with our expansion plans at the Bolivar Mine. With the early completion of construction at the Piedras Verdes Mill, we will deliver on our goal of a 20% increase in production from 3,000 TPD to 3,600 TPD, in Q1-2019."


"The expansion at Bolivar represents the first of many exciting milestones for Sierra Metals in 2019 as we continue toward our goal of creating additional value to the company and its shareholders. This expansion will contribute through a 20% increase in production rates, a 6% increase in copper recoveries and a decrease in costs per unit."


He concluded, "With increased production capacity at Bolivar Mine, we remain focused on our brownfield exploration program and the importance of continuing to add to our reserves and resources. With the discovery of future resource additions, we believe that this expansion will allow for potential new copper pounds discovered to be incorporated into production plans earlier than if the Company had maintained a lower capacity level."



Image 1: Process Flow Diagram (CNW Group/Sierra Metals Inc.)




Image 2: Electrical Substation (CNW Group/Sierra Metals Inc.)




Image 3: New Mill (CNW Group/Sierra Metals Inc.)




Image 4: Hydrocyclone Cluster, Secondary Crusher and Flash Cell (CNW Group/Sierra Metals Inc.)



About Sierra Metals


Sierra Metals Inc. is Canadian based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.


The Company's Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol "SMT" and on the NYSE American Exchange under the symbol "SMTS".


Continue to Follow, Like and Watch our progress:


Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains "forward-looking information" and "forward-looking statements" within the meaning of Canadian and U.S. securities laws related to the Company (collectively, "forward-looking information"). Forward-looking information includes, but is not limited to, statements with respect to the Company's operations, including anticipated developments in the Company's operations in future periods, the Company's planned exploration activities, the adequacy of the Company's financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential" or variations thereof, or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company's operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company's properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company's securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company's compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company's filings with Canadian securities regulators and the U.S. Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company's forward-looking information. Forward looking information includes statements about the future and are inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission ("SEC"). The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.


 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/sierra-metals-reports-construction-at-bolivar-minemill-in-mexico-has-been-completed-ahead-of-schedule-300775233.html


SOURCE Sierra Metals Inc.


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2019/09/c8537.html

regarding Sierra Metals, please visit www.sierrametals.com or contact: Mike McAllister, V.P., Corporate Development, Sierra Metals Inc., +1 (416) 366-7777, Email: info@sierrametals.com; Gordon Babcock, Chief Operating Officer, Sierra Metals Inc., + 1 (416) 366-7777; Igor Gonzales, President & CEO, Sierra Metals Inc., +1(416) 366-7777

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Sierra Metals Inc.

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Sierra Metals is a premier Latin American precious and base metals producer with significant resource growth potential. The Company owns and operates three mines in commercial production: the Yauricocha Mine in Peru, the Bolivar and Cusi mines in Mexico.

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Sierra Metals Inc.

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Sierra Metals is a premier Latin American precious and base metals producer with significant resource growth potentia......

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8020Admin

8 hours

8020Admin posted a press release Sierra Metals Announces the Appointment of Koko Yamamoto to Its Board of Directors in SIERRA METALS INC.

TORONTO


Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or ““Company”) announces the appointment of Ms. Koko Yamamoto to its Board of Directors effective immediately. Ms. Yamamoto will also be joining Sierra Metals’ Audit Committee as its Chairperson.


Ms. Yamamoto is a chartered professional accountant with over 19 years' experience. She is a partner at McGovern, Hurley LLP, a CPAB registered firm, since 2003, and her practice includes a focus on assurance engagements for reporting issuers in the resource sector. Ms. Yamamoto is involved in initial public offerings and private placements, mergers and acquisitions. She is currently a director for Largo Resources Inc. as well as Chair of the Largo Resources Audit Committee. Ms. Yamamoto is registered as a panel auditor with the Investment Industry Regulatory Organization of Canada (IIROC), which enables her to conduct audits of investment dealers. Ms. Yamamoto obtained her CPA CA designation in 2001 and holds a Bachelor of Commerce from the University of British Columbia.


J. Alberto Arias, Chairman of Sierra Metals, commented: On behalf of the Board and Management, I would like to welcome Koko to the Sierra Metals Board of Directors. Koko’s experience in corporate accounting and reporting makes her a valuable addition as an independent director to our Board. We believe that Koko will help Sierra Metals execute on its considerable growth plans and strategic opportunities that it has available at all its properties.”


About Sierra Metals


Sierra Metals Inc. is Canadian based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new discoveries and still has additional brownfield exploration opportunities at all three Mines in Peru and Mexico that are within or close proximity to the existing Mines. Additionally, the Company has large land packages at all three Mines with several prospective regional targets providing longer term exploration upside and mineral resource growth potential.


The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.


For further information regarding Sierra Metals, please visit www.sierrametals.com.


 

Continue to Follow, Like and Watch our progress:


Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including the anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company's operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company's properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company's securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company's compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company's filings with Canadian securities regulators and the U.S. Securities and Exchange Commission ("SEC"), which filings are available at www.sedar.com and www.sec.gov, respectively.


 

This list is not exhaustive of the factors that may affect any of the Company's forward-looking information. Forward-looking information includes statements about the future and are inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company are calculated in accordance with the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the SEC. The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.




Mike McAllister
V.P., Corporate Development
Sierra Metals Inc.
+1 (416) 366-7777
Email: info@sierrametals.com


Igor Gonzales
President & CEO
Sierra Metals Inc.
+1(416) 366-7777



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8020Admin

23 hours

8020Admin posted a press release Sierra Metals Reports Second Quarter 2019 Production Results Including Record Consolidated Quarterly Ore Throughput in SIERRA METALS INC.

TORONTO


Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to report second quarter 2019 production results featuring the highest level of quarterly throughput to date at its Bolivar and Cusi Mines in Mexico.


Results are from Sierra Metals’ three underground mines in Latin America: The Yauricocha polymetallic mine in Peru, and the Bolivar copper and Cusi silver Mines in Mexico.


Second Quarter 2019 Production Highlights



  • Silver production of 0.8 million ounces; a 21% increase from Q2 2018

  • Lead production of 8.1 million pounds; a 14% increase from Q2 2018

  • Gold production of 2,540 ounces; a 40% increase from Q2 2018

  • Copper production of 9.7 million pounds; a 13% increase from Q2 2018

  • Zinc production of 16.6 million pounds; an 18% decrease from Q2 2018

  • Zinc equivalent production of 57.6 million pounds; a 4% increase from Q2 2018

  • Record quarterly throughput at the Bolivar and Cusi Mines in Mexico


The Company achieved record consolidated quarterly throughput, as well as record quarterly throughput and metal production from the Bolivar and Cusi Mines in Mexico. The Company has continued to build on its successful plant expansions and mine production increases in Mexico over the last three quarters which has resulted in record quarterly metal production as the Company reaches its 2019 target of 4,000 tonnes per day (“TPD”) at Bolivar and 1,200 tpd at Cusi. Consolidated production of silver increased 21% to 0.8 million ounces, copper increased by 13% to 9.7 million pounds, lead increased 14% to 8.1 million pounds, zinc declined 18% to 16.6 million pounds, and gold increased 40% to 2,540 ounces compared to Q2 2018.


The Yauricocha Mine experienced a 10% reduction in throughput during Q2 2019 compared to Q2 2018 due to the illegal strike action initiated by members of the Union of the Mine and Metallurgical Workers of Minera Corona on March 19, 2019. This illegal strike was resolved on April 12, 2019, however, resulted in a total of 12 days of lost production during April 2019. Regular operations at the mine and mill resumed on April 14, 2019, and management believes that any production lost during this strike action should not materially affect the Company’s annual production guidance. In fact, the month of May represented a monthly production record at the Yauricocha Mine and June was also over production budget. The reduction in throughput during the strike was offset by higher head grades and recoveries for all metals except zinc at Yauricocha which resulted in a 4% decrease in zinc equivalent pounds produced during Q2 2019 compared to Q2 2018.


At Bolivar, a 20% increase in throughput, and higher silver and gold head grades, and higher copper and silver recoveries resulted in a 19% increase in copper equivalent pounds produced during Q2 2019 compared to Q2 2018. This increase was achieved despite an 11% decrease in copper head grades and gold recoveries, however, the Company expects copper head grades to increase during H2 2019, as more ore is sourced from Bolivar West.


At Cusi, throughput reached approximately 938 tpd during Q2 2019, and the Company continues to work towards reaching the 1,200 tpd mark during Q3 2019. The 76% increase in throughput realized during Q2 2019 resulted in a 41% increase in silver equivalent ounces produced, despite lower head grades and recoveries for all metals as we continue to develop deeper into the Santa Rosa de Lima zone which has higher head grades.


Igor Gonzales, President and CEO of Sierra Metals, commented: “The Company has continued 2019 with consolidated record production results in the second quarter. This includes continued recovery and making up for lost production at Yauricocha despite an illegal strike action which occurred at the end of Q1 and start of Q2 this year. This can also be attributed to a much stronger performance from our Mexican Mines in the second quarter including record production at both of the Bolivar and Cusi Mines. We continued to successfully ramp up our mine and mill expansion plans as well as reap the benefits of operational improvement programs. Going forward we expect to deliver on our annual guidance at Yauricocha while continuing to ramp up and further improve throughput and tonnage at our Mexican operations.



Read more here: https://www.quotemedia.com/portal/quote/?qm_symbol=SMT%3ACC&qmodStoryID=7962456732463995 

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8020Admin

19 days

8020Admin posted a press release Sierra Metals Receives Permits for Additional Surface Exploration Drilling and Tailing Dam Expansion at Its Yauricocha Mine in SIERRA METALS INC.

TORONTO



Expansion to Tailing Facility underway and surface drilling of high value targets has commenced


Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to report that the Company has received its permit to construct the expansion of the tailing dam facility as well as its permit for the surface drilling program at its Yauricocha Mine in Peru.


This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190627005235/en/


Don Leona Targets (Photo: Business Wire)

Don Leona Targets (Photo: Business Wire)



Igor Gonzales, President, and CEO of Sierra Metals commented. “This is exciting news for the Company. Receipt of the construction permit for the tailings dam follows the previously obtained EIA permit. Construction has already begun on the completion of the next lift at the tailing’s facility and is an important step in the process for a future throughput expansion at the Yauricocha Mine. Additionally, surface drilling of four high-value drill targets which were identified as part of a recent Titan 24 geophysical survey and through surface sampling has also begun. We are excited to see the drills turning and look forward to the results and the potential discovery of new mineralized zones.”


He continued “Over the past 18 months, Yauricocha has been successfully drilling near-mine targets identified by Titan 24 from underground drill stations, which was successful, but has many space constraints and limitations. The surface drilling required a long permitting process, but now that has been obtained, will allow us to test previously untested top priority areas from the Titan 24 survey. Our experience with Titan 24 has been extremely positive at our Bolivar copper mine in Mexico identifying important new mineralized areas and we look forward to have the same strategy in Peru.”


Construction at the tailing dam is permitted and will take place in two stages. In the first stage the Company is permitted to complete a two meter lift. Once complete the Company will amplify the area of deposition for the next stage, which will include an additional lift of two more meters. In total, once completed the Company will have finalize a four meter lift that will add approximately three years of capacity, assuming a throughput rate of 3,000 tonnes per day.


All drilling targets have been prioritized by previous geochemistry sampling as well as geophysical work and they are all significant, high priority targets for testing. Areas to be tested as part of a surface drilling program include:


The Doña Leona area located 2.5 kilometers southeast from the Central Yauricocha Mine. This area has already had surface geochemical sampling completed on structures and gaps, which provided values ​​in anomalous silver, zinc, lead, and copper. Furthermore, geophysics from a Titan 24 survey shows significant anomalies in this area. Eight drill holes totaling 8,000 meters will be drilled from five platforms to test these targets for high grade structures.


The El Paso – Éxito areas are located between 3.5 and 5 kilometers southeast of the Central Yauricocha mine. The Éxito mine contains skarn and replacement mineralization and surface sampling detected structures with high values ​​of anomalous lead, zinc, and copper. Geophysics with the Titan 24 geophysical survey have determined important anomalies in the area. Ten drills holes totaling 10,170 meters will be completed from six platforms to test these targets for high grade structures.


The Kilcaska area located 7.5 kilometers southeast of the Central Yauricocha mine is the third target to be tested. This previously exploited area along with surface sampling have produced strong values of anomalous silver, lead, zinc, and copper. Kilcaska has not had any geophysical work completed. Four holes totaling 2,120 meters will be executed from two platforms to test these targets for high grade structures.


The Victoria area located 1.5 kilometers southeast of the Central Yauricocha mine is the fourth target to be tested. The Victoria area has a high geological potential since it has previously had narrow veins exploited with values ​​in anomalous copper, lead, zinc. Likewise, on the surface of this zone, there is a series of quartz veins and veinlets, with anomalous copper, lead and zinc in stockwork type zones. Additionally, outcrops of marble and skarns also contain veins with values ​​of anomalous copper, lead, zinc, and silver. In this area, geophysics from the Titan 24 geophysical survey identified important anomalies in the contact area and the granodiorites. Ten drill holes totaling 9,300 meters will be drilled from five platforms to test these targets for high grade structures.


 

Quality Control


All technical data contained in this news release has been reviewed and approved by Gordon Babcock, P.Eng., Chief Operating Officer and a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.


Americo Zuzunaga, FAusIMM CP (Mining Engineer) and Vice President of Corporate Planning is a Qualified Person and chartered professional qualifying as a Competent Person under the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.


Augusto Chung, FAusIMM CP (Metallurgist) and Consultant to Sierra Metals is a Qualified Person and chartered professional qualifying as a Competent Person on metallurgical processes.


About Sierra Metals


Sierra Metals Inc. is Canadian based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.


The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.


Continue to Follow, Like and Watch our progress:


Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc


 

Forward-Looking Statements


This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company’s operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company’s properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company’s securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company’s compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company’s filings with Canadian securities regulators and the U.S. Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. Forward looking information includes statements about the future and are inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission (“SEC”). The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.




For further information regarding Sierra Metals, please visit www.sierrametals.com or contact:
Mike McAllister
V.P., Investor Relations
Sierra Metals Inc.
+1 (416) 366-7777
Email: info@sierrametals.com


Gordon Babcock, P. Eng.
Chief Operating Officer
Sierra Metals Inc.
+ 1 (416) 366-7777


Igor Gonzales
President & CEO
Sierra Metals Inc.
+1(416) 366-7777



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8020Admin

26 days

8020Admin posted a press release Sierra Metals Announces Results of Annual General Meeting of Shareholders in SIERRA METALS INC.

Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) hereby announces the voting results from the Company’s Annual General Meeting of Shareholders held on Wednesday, June 19, 2019.


A total of 133,898,410 common shares were represented at the meeting, being 82.04% of the Company’s issued and outstanding shares. Shareholders voted in favour of all matters brought before the meeting including the re-appointment of PricewaterhouseCoopers as auditors for the ensuing year, and the election of management’s nominees as directors.


Detailed results of the votes on the election of directors are as follows:


Read more here: https://www.quotemedia.com/portal/quote?qm_symbol=SMT%3ACC&qmodStoryID=5477346046277269 

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8020Admin

1 month

8020Admin posted a press release Sierra Metals Repurchases Royalty at Its Cusi Silver Mine, Mexico in SIERRA METALS INC.

Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to announce that the Company has agreed to repurchase a royalty on its Cusi Silver Mine in Mexico, from Minera Cusi SA de CV for US$4.0 million. The royalty agreement required the Company to pay a 3% royalty on the net revenues generated by the mine, less transportation costs, for the life of the mine. The Company has already paid US$2.5 million upon signing the repurchase contract on May 10, 2019 and is required to pay a further US$1.5 million on May 10, 2021.


Igor Gonzales, President, and CEO of Sierra Metals stated, “The acquisition of this royalty agreement is strategically important to Sierra Metals as it enhances the cost structure of our operations at a time when we are significantly expanding our production capacity at our Cusi Mine and Malpaso processing plant.”


With this repurchase, Sierra Metals will no longer have any royalties on any of its properties or mines, with the exception of those that are legally imposed by the local governments.


About Sierra Metals


Sierra Metals Inc. is Canadian based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new discoveries and still has additional brownfield exploration opportunities at all three Mines in Peru and Mexico that are within or close proximity to the existing Mines. Additionally, the Company has large land packages at all three Mines with several prospective regional targets providing longer term exploration upside and mineral resource growth potential.


The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.


Continue to Follow, Like and Watch our progress:


Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including the anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company's operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company's properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company's securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company's compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company's filings with Canadian securities regulators and the U.S. Securities and Exchange Commission ("SEC"), which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company's forward-looking information. Forward-looking information includes statements about the future and are inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company are calculated in accordance with the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the SEC. The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.





For further information regarding Sierra Metals, please visit www.sierrametals.com or contact:


Mike McAllister
V.P., Corporate Development
Sierra Metals Inc.
+1 (416) 366-7777
Email: info@sierrametals.com


Igor Gonzales
President & CEO
Sierra Metals Inc.
+1(416) 366-7777


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8020Admin

2 months

8020Admin posted a press release Sierra Metals Reports Consolidated Financial Results for the First Quarter of 2019 Conference Call May 14, 2019 AT 10:30 AM (EDT) in SIERRA METALS INC.

TORONTO



(All $ figures reported in USD)



  • Adjusted EBITDA of $12.0 million in Q1 2019 decreased from $27.4 million in Q1 2018

  • Operating cash flows before movements in working capital of $11.8 million in Q1 2019 decreased from $27.4 million in Q1 2018

  • Revenue from metals payable of $49.2 million in Q1 2019 decreased from $61.7 million in Q1 2018 due to lower throughput and lower realized metal prices

  • Q1 2019 consolidated copper production of 7.7 million pounds, consolidated silver production of 0.7 million ounces, consolidated zinc production of 16.4 million pounds, consolidated lead production of 7.0 million pounds, and consolidated gold production of 1,986 ounces; a 4% decrease, 16% increase, 10% decrease, a 10% increase, and a 2% increase respectively, compared to Q1 2018, management expects that annual production guidance will still be met(1)

  • Record quarterly throughput at the Cusi Mine in Mexico

  • $23.9 million of cash and cash equivalents as at March 31, 2019

  • Net Debt of $45.0 million as at March 31, 2019

  • The Company through its Normal Course Issuer Bid has to date repurchased and cancelled a total of 907,266 shares at an average VWAP of C$2.04

  • Shareholder conference call to be held Tuesday, May 14, 2019, at 10:30 AM (EST)


(1) Silver equivalent ounces and copper and zinc equivalent pounds for Q1 2019 were calculated using the following realized prices: $15.57/oz Ag, $2.85/lb Cu, $0.94/lb Pb, $1.23/lb Zn, $1,305/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for Q1 2018 were calculated using the following realized prices: $16.75/oz Ag, $3.14/lb Cu, $1.15/lb Pb, $1.56/lb Zn, $1,334/oz Au.



Sierra Metals Inc. (TSX:SMT)(BVL:SMT)(NYSE American:SMTS) (“Sierra Metals” or the “Company”) today reported revenue of $49.2 million and adjusted EBITDA of $12.0 million on throughput of 568,401 tonnes and metal production of 4.0 million silver equivalent ounces, or 21.8 million copper equivalent pounds, or 50.6 million zinc equivalent pounds for the three month period ended March 31, 2019.


The Company has continued to be successful in maintaining positive operating cash flow generation from its existing operations in order to reduce debt levels, fund required capital expenditures, and maintain liquidity.


Despite the loss of 12 days of production at the Yauricocha Mine during March 2019 due to the illegal strike action which has subsequently been resolved, the mine continued its strong operational performance during Q1 2019, realizing an increase in zinc equivalent metal production compared to Q1 2018. The revenues and Adjusted EBITDA generated during Q1 2019 allowed the Company to fund its capital expenditure programs and repay some of the existing debt obligations, despite a challenging metal price environment.


The Company achieved record quarterly throughput from the Cusi Mine, and the third highest quarterly throughput from the Bolivar Mine, continuing the successful production increases realized in Mexico during 2018. Consolidated production of silver increased 16% to 0.7 million ounces, copper declined 4% to 7.7 million pounds, lead increased 10% to 7.0 million pounds, zinc declined 10% to 16.4 million pounds, and gold increased 2% to 1,986 ounces compared to Q1 2018.


Igor Gonzales, President, and CEO of Sierra Metals stated: “The first quarter has presented us with several challenges including an illegal strike at Yauricocha, as well as slower than expected ramp up of throughput at Bolivar and Cusi with lower head grades and recoveries. I want to assure shareholders that management remains focused on the expansions in Mexico and improving tonnage, head grades, and recovery rates which in turn will help to lower costs. Also, as noted above, it still bears mentioning that in Q1 2019 Yauricocha saw an increase in zinc equivalent metal production, Cusi had record throughput and Bolivar had a 1% increase in throughput over Q1 2018. Subsequent to Q1 2019, throughput rates continue to improve. At Yauricocha the strike has been settled and the mine is working to full capacity. In Mexico, production increases are expected to become more apparent in late Q2 2019 when we should reach higher throughput rates at both Bolivar and Cusi. Production is also expected to be higher in the latter half of 2019 when the mines are running at the higher throughput rates. Cash flow continues to be strong and with continued efforts, we expect to see further improvements in cash flow and good returns on the capital being invested. Management expects that the Company will still be within the annual production guidance provided.


We continue to modernize and improve all our Mines, implementing best operational practices. These improvements are expected to allow for the Company to increase metal production over the course of the coming year. Our Company-wide ongoing brownfield exploration programs should also lead to further significant growth in reserves and resources, which will add to the value of our assets during the year ahead.”


He continued, “Sierra Metals’ balance sheet remains strong with the liquidity needed to meet our operational and growth expenditure requirements. The Company is on-track for further growth in 2019 based upon positive PEA studies which demonstrates robust growth opportunities for the Company at all Mines. We continue working on Life of Mine plans which are expected to be completed in mid-2019. Furthermore, NI 43-101 Technical Reports are expected to be completed for the Yauricocha Mine by the end of Q2 2019 and for Bolivar and Cusi Mines by the end of Q4 2019. We are very optimistic that these updated reports will provide for additional reserves and resources at all Mines.”


The following table displays selected financial and operational information for the three months ended March 31, 2019:



Read more here: https://www.quotemedia.com/portal/quote?qm_symbol=SMT%3ACA&qmodStoryID=8239187215091459 

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8020Admin

3 months

8020Admin posted a press release Sierra Metals to Release Q1-2019 Financial Results on May 13th, 2019 in SIERRA METALS INC.


TORONTO

Shareholder Conference Call and Webcast to be held on Tuesday May 14th, 2019 at 10:30 AM EDT


Sierra Metals Inc. (TSX:SMT) (NYSE American:SMTS) (BVL:SMT) (“Sierra Metals” or the “Company”) will release its Q1-2019 financial results on Monday May 13, 2019 after Market close. Senior Management will also host a webcast and conference call on Tuesday May 14, 2019 at 10:30am EDT. Details of the Conference Call and Webcast are as follows:


Via Webcast:


A live audio webcast of the meeting will be available on the Company’s website:


https://event.on24.com/wcc/r/1956428/CAFED0BBE1AF315572FFBCA7456DFCF6


The webcast along with presentation slides will be archived for 180 days on www.sierrametals.com.


Via phone:


For those who prefer to listen by phone, dial-in instructions are below. To ensure your participation, please call approximately five minutes prior to the scheduled start time of the call.


Participant Number (Toll Free North America): (833) 245-9659
Participant Number (Toll Free Peru): 0800-71-476
Participant Number (International): +1 (647) 689-4231
Conference ID: 6988769


About Sierra Metals


Sierra Metals Inc. is a Canadian-based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new discoveries and still has additional brownfield exploration opportunities at all three mines in Peru and Mexico that are within or close proximity to the existing mines. Additionally, the Company has large land packages at all three mines with several prospective regional targets providing longer term exploration upside and mineral resource growth potential.


The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.


For further information regarding Sierra Metals, please visit www.sierrametals.com.


Continue to watch our progress at:
Web: www.sierrametals.com
Twitter: sierrametals
Facebook: SierraMetalsInc
LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company’s operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company’s properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company’s securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company’s compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company’s filings with Canadian securities regulators and the U.S. Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. Forward looking information includes statements about the future and are inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company are calculated in accordance with the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the SEC. The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.




Mike McAllister
Vice President, Investor Relations
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: info@sierrametals.com


Igor Gonzales
President & CEO
Sierra Metals Inc.
Tel: +1 (416) 366-7777


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8020Admin

3 months

8020Admin posted a press release Sierra Metals Reports Q1-2019 Financial Results at Its Sociedad Minera Corona Subsidiary in Peru in SIERRA METALS INC.

Sierra Metals Inc. (TSX:SMT, BVL:SMT) (“Sierra Metals” or the “Company”) announces the filing of Sociedad Minera Corona S.A.’s (“Corona”) unaudited Financial Statements and the Management Discussion and Analysis (“MD&A”) for the first quarter of 2019 (“Q1 2019”).


The Company holds an 81.8% interest in Corona. All amounts are presented in US dollars unless otherwise stated, and have not been adjusted for the 18.2% non-controlling interest.


Corona’s Highlights for the Three Months Ended March 31, 2019



  • Revenues of US$35.3 million vs. US$46.6 million in Q1 2018

  • Adjusted EBITDA of US$13.7 million vs. US$24.2 million in Q1 2018

  • Total tonnes processed of 233,814 vs. 271,389 in Q1 2018

  • Net production revenue per tonne of ore milled decreased by 12% to US$147.75

  • Cash cost per zinc equivalent payable pound lower by 5% to US$0.54

  • All in sustaining cost (“AISC”) per zinc equivalent payable pound higher by 4% to US$0.85

  • Zinc equivalent production of 35.9 million pounds vs. 34.8 million pounds in Q1 2018

  • $13.3 million of cash and cash equivalents as at March 31, 2019

  • $46.8 million of working capital as at March 31, 2019


Despite the loss of 12 days of production at the Yauricocha Mine during March due to the illegal strike action which has subsequently been resolved, the mine continued its strong operational performance during Q1 2019, realizing an increase in zinc equivalent metal production compared to Q1 2018. The revenues and Adjusted EBITDA generated during Q1 2019 allowed the Company to fund its capital expenditure programs and repay all of the existing debt obligations, despite a challenging metal price environment. Cash costs remained consistent quarter over quarter, while there was a slight increase in AISC during Q1 2019 due to the increase in treatment and refining charges related to the zinc concentrate produced.


Igor Gonzales, President and CEO of Sierra Metals commented, “The strike resulted in lower tonnage processed for the first quarter. However, we have prepared a forecast for the remainder of the year to try to recover as much tonnage as possible and stay within guidance at Yauricocha. Despite the lower tonnage in the first quarter, I would like to note that Yauricocha still realized higher zinc equivalent production from higher head grades except for gold and higher recoveries. The Company still saw relatively strong revenue and adjusted EBITDA for the quarter albeit lower than the same quarter in 2017. We continue to reap the benefit of improvements to the Mine such as the shaft rehabilitation and the new Yauricocha tunnel and expect these improvements to continue to benefit us through the remainder of the year.


Moving on from the strike, 2019 still represents a critical year for projects, improvements, and exploration at Yauricocha. Having received our Environmental Impact Assessment Permit for the Mine to complete the next level of the tailings deposition facility, we have begun planning and are awaiting approval for our construction permit. We are also continuing to sink the Yauricocha shaft towards the 1270 level which provides access to further reserves and resources at the Mine with loading pockets to be added on the 1210 level. Work will also commence on the ramp connecting the 920 level with the 720 level of the Yauricocha Mine providing for an additional 10,000 tonnes per month of increased capacity to move ore and waste from the Mine. Furthermore, we continue to work towards the completion of a Life of Mine Plan and updated NI 43-101 Technical Report for Reserves and Resources at Yauricocha expected by mid year 2019. We have the right team in place to manage these projects and the permitting and planning needed to see projects and exploration programs move ahead as planned at the mine.”


He concluded, “Despite the strike set back, Corona continues to have a solid balance sheet and strong liquidity. Management remains optimistic that continued operational efficiencies and future operational and resource growth are possible at Yauricocha.”


The following table displays selected unaudited financial information for the three months ended March 31, 2019:


Read more here: https://www.quotemedia.com/portal/quote/?qm_symbol=SMT%3ACA&qmodStoryID=8647914288752476 

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8020Admin

3 months

8020Admin posted a press release Sierra Metals Reports First Quarter 2019 Production Results in SIERRA METALS INC.

Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to report first quarter 2019 production results featuring the highest level of quarterly throughput to date at its Cusi Mine in Mexico.


Results are from Sierra Metals’ three underground mines in Latin America: The Yauricocha polymetallic mine in Peru, and the Bolivar copper and Cusi silver Mines in Mexico.


First Quarter 2019 Production Highlights



  • Silver production of 0.7 million ounces; a 16% increase from Q1 2018

  • Lead production of 7.0 million pounds; a 10% increase from Q1 2018

  • Gold production of 1,986 ounces; a 2% increase from Q1 2018

  • Copper production of 7.7 million pounds; a 4% decrease from Q1 2018

  • Zinc production of 16.4 million pounds; a 10% decrease from Q1 2018

  • Zinc equivalent production of 50.6 million pounds; a 7% increase from Q1 2018

  • Record quarterly throughput at the Cusi Mine in Mexico

  • Production lost during the illegal strike action at Yauricocha should not materially affect the Company’s annual production guidance


Read more here: https://quotemedia.com/portal/quote?qm_symbol=SMT%3ACC&qmodStoryID=6675883515604917  

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8020Admin

3 months

8020Admin posted a press release Sierra Metals Announces Changes to the Board of Directors with the Appointment of Ricardo Arrarte and the Resignation of Philip Renaud in SIERRA METALS INC.

TORONTO


Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) announces the appointment of Mr. Ricardo Arrarte to the Board of Directors who will fill the vacancy left by the resignation of Mr. Philip Renaud who is resigning to focus more of his time on other business ventures. These changes are effective immediately.


Mr. Arrarte is a Director with an affiliate of the private equity firm Arias Resource Capital Management LP and is also the Chief Executive Officer for Cautivo Mining Inc. Mr. Arrarte is a Mining and Mechanical Engineer with over 20 years’ experience in management, operations, and consulting for mining companies. Mr. Arrarte has worked with Hochschild Mining PLC as Operations Manager in charge of four silver mines in Peru, Compania Minera Caudalosa SA as Chief Executive Officer, Consorcio Minero Horizonte as Planning and Engineering Manager, Buenavetura Ingenieros SA – BISA as an Engineering Consultant, Fosfatos Del Pacifico SA as Mine Manager, and Cementos Pacasmayo SAA as Geology and Mine Central Manager. Mr. Arrarte is experienced in mine and plant design, managing mining operations, production and costs with large teams of personnel. Mr. Arrarte earned his Mining and Mechanical Engineering degrees from Pontifica Universidad Catolica Del Peru and his MBA from the George Washington University in Washington, D.C.


On his departure, Mr. Renaud commented “It has been a great pride for me to be part of the growth and value creation process at Sierra Metals since 2003. I am confident of the strong fundamentals of the company in the future.”


J. Alberto Arias, Chairman of Sierra Metals, commented: “I want to express my gratitude to Philip for his many years of contribution to the Board of Directors of Sierra Metals. Philip’s commitment, enthusiasm and loyalty to the Company were appreciated by the Board and Management. I wish him all the best in his future endeavors.”


He continued, “On behalf of the Board and Management I would like to welcome Ricardo to the Sierra Metals Board of Directors. Ricardo’s experience in the Latin American mining industry makes him a valuable addition to our Board. We believe that Ricardo will help Sierra Metals realize the considerable growth and strategic opportunities that the Company presently has available at all of its properties.”


About Sierra Metals


Sierra Metals Inc. is Canadian based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new discoveries and still has additional brownfield exploration opportunities at all three Mines in Peru and Mexico that are within or close proximity to the existing Mines. Additionally, the Company has large land packages at all three Mines with several prospective regional targets providing longer term exploration upside and mineral resource growth potential.


The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.


For further information regarding Sierra Metals, please visit www.sierrametals.com.


Continue to Follow, Like and Watch our progress:


Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including the anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company's operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company's properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company's securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company's compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company's filings with Canadian securities regulators and the U.S. Securities and Exchange Commission ("SEC"), which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company's forward-looking information. Forward-looking information includes statements about the future and are inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company are calculated in accordance with the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the SEC. The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.




Mike McAllister
V.P., Corporate Development
Sierra Metals Inc.
+1 (416) 366-7777
Email: info@sierrametals.com


Igor Gonzales
President & CEO
Sierra Metals Inc.
+1(416) 366-7777



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8020Admin

3 months

8020Admin posted a press release Sierra Metals Confirms High Grade Mineralized Extensions to the Bolivar West Zone, at the Bolivar Mine, Mexico in SIERRA METALS INC.

Sierra Metals Inc. (TSX:SMT) (BVL:SMT) (NYSE AMERICAN:SMTS) (“Sierra Metals” or “the Company”) announces positive results from a recent drilling program designed to test the continuity and characteristics of geophysical anomalies identified in a recent Titan 24 Geophysical Survey. The areas drilled had been deemed as high-value targets within the Bolivar West zone, located at the Bolivar Mine, Chihuahua, Mexico. The Bolivar Mine is situated within the Piedras Verdes Mining District, located within the major north-northwest trending Sierra Madre Precious Metals Belt which extends across the states of Chihuahua, Durango, and Sonora in northwest Mexico.


 


Read more here: https://quotemedia.com/portal/quote/?qm_symbol=SMT%3ACC&qmodStoryID=7112194578909508 

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8020Admin

4 months

8020Admin posted a press release Sierra Metals Reports 2018 Consolidated Financial Results Including $90.1 Million of Operating Cash Flows before Movements in Working Capital Conference Call March 29, 2019 at 10:30 Am (EDT) in SIERRA METALS INC.

Sierra Metals Inc. (TSX:SMT)(BVL:SMT)(NYSE American:SMTS) (“Sierra Metals” or the “Company”) today reported revenue of $232.4 million and adjusted EBITDA of $89.8 million on throughput of 2,325,288 tonnes and metal production of 18.0 million silver equivalent ounces, 95.2 million copper equivalent pounds, and 215.1 million zinc equivalent pounds for the year ended December 31, 2018.


Read more here:  https://quotemedia.com/portal/quote/?qm_symbol=SMT%3ACC&qmodStoryID=7042590673168035 

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Thumb 8020 media relations

Media Relations posted an update in SIERRA METALS INC.

4 months

MI3 Financial Communications hosts Sierra Metals in Ottawa at their Dinner Series Investor forum


Thumb mi3 ottawa circuit

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8020Admin

4 months

8020Admin posted a press release Sierra Metals Announces Illegal Strike Action from Unionized Workers at the Yauricocha Mine, Peru in SIERRA METALS INC.

Sierra Metals Inc. (TSX:SMT) (NYSE American:SMTS) (BVL:SMT) (“Sierra Metals” or the “Company”) today announced that employees who are members of the Union of the Mine and Metallurgical Workers of Minera Corona, representing approximately 66% of the employees at the Company’s Yauricocha Mine in Peru, have initiated a strike action. The strike is in protest of contractor changes being made as part of regular operations at the Mine. While only the unionized workers have initiated the strike, the Company has suspended all mining and milling activities for the safety of all employees as of early Tuesday morning, March 19, 2019. The Peruvian Ministry of Labour upon receiving notification by the Union of their intent to strike indicated that the strike could not proceed. Once the strike materialized, they deemed the strike as illegal under current legislation.


Igor Gonzales, President, and CEO commented, “Precautions have been taken to safeguard all employees as well as the plant, property, and equipment during the strike. Management believes that this strike action will not materially affect the Company’s annual production guidance or mine budget.”


About Sierra Metals


Sierra Metals Inc. is a Canadian-based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and it's Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new discoveries and still has additional brownfield exploration opportunities at all three mines in Peru and Mexico that are within or close proximity to the existing mines. Additionally, the Company has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.


The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS.”


For further information regarding Sierra Metals, please visit www.sierrametals.com.


Continue to Follow, Like and Watch our progress:


Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company’s operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company’s properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company’s securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company’s compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company’s filings with Canadian securities regulators and the U.S. Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. Forward looking information includes statements about the future and are inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company are calculated in accordance with the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the SEC. The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.




Mike McAllister
V.P. Corporate Development
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: info@sierrametals.com


Gordon Babcock
Chief Operating Officer
Sierra Metals Inc.
Tel: +1 (416) 366-7777


Igor Gonzales
President & CEO
Sierra Metals Inc.
Tel: +1 (416) 366-7777


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8020Admin

4 months

8020Admin posted a press release Sierra Metals Inc. Announces Closing of New Senior Secured US$100 Million Corporate Credit Facility in SIERRA METALS INC.

Sierra Metals Inc. (TSX:SMT) (NYSE American:SMTS) (BVL:SMT) (“Sierra Metals” or the “Company”) announces today that it has entered into a new six-year senior secured corporate credit facility (“Corporate Facility”) with Banco de Credito del Peru (“BCP”) that provides funding of up to US$100 million effective March 8, 2019. The Corporate Facility provides the Company with additional liquidity and will provide the financial flexibility to fund future capital projects in Mexico as well as corporate working capital requirements. The Company will also use the proceeds of the new facility to repay existing debt balances in the near term.


The most significant terms of the Corporate Facility are as follows:


- Term: 6-year term maturing March 2025
- Principal Repayment Grace Period: 2 years
- Principal Repayment Period: 4 years
- Interest Rate: 3.15% + LIBOR 3M


The Corporate Facility is subject to customary covenants, including consolidated net leverage and interest coverage ratios and customary events of default.


Igor Gonzales, President and CEO of Sierra Metals commented, “The new Corporate Facility combined with our strong cash flow provides greater financial flexibility to our capital structure and will enhance our ability to implement growth initiatives in line with the Company’s strategic plan. The main use of this facility is to repay the existing BCP credit facility at our Diabras Peru subsidiary, which was established at the time of the Sociedad Minera Corona acquisition in 2011. The new structure provides a more efficient capital structure that would allow us to better meet the growth plans for Sierra Metals in the future.”


About Sierra Metals


Sierra Metals Inc. is a Canadian-based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new discoveries and still has additional brownfield exploration opportunities at all three mines in Peru and Mexico that are within or close proximity to the existing mines. Additionally, the Company has large land packages at all three mines with several prospective regional targets providing longer term exploration upside and mineral resource growth potential.


The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.


For further information regarding Sierra Metals, please visit www.sierrametals.com.


Continue to Follow, Like and Watch our progress:


Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company’s operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company’s properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company’s securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company’s compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company’s filings with Canadian securities regulators and the U.S. Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. Forward looking information includes statements about the future and are inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company are calculated in accordance with the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the SEC. The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.


 





Mike McAllister
VP, Corporate Development
Sierra Metals Inc.
+1 (416) 366-7777
info@sierrametals.com


Ed Guimaraes
CFO
Sierra Metals Inc.
+1 (416) 366-7777


Igor Gonzales
President & CEO
Sierra Metals Inc.
+1 (416) 366-7777


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8020Admin

4 months

8020Admin posted a press release Sierra Metals to Release Q4 and Year-End 2018 Consolidated Financial Results on March 28, 2019 in SIERRA METALS INC.


Shareholder Conference Call and Webcast to be held on Friday March 29, 2019



Sierra Metals Inc. (TSX: SMT) (NYSE American: SMTS) (BVL: SMT) (“Sierra Metals” or the “Company”) will release its Q4 and Year-End 2018 consolidated financial results on Thursday, March 28, 2019 after Market close. Senior Management will also host a webcast and conference call on Friday, March 29, 2019 at 10:30am ET. Details of the Conference Call and Webcast are as follows:


Via Webcast:


A live audio webcast of the meeting will be available on the Company’s website: https://event.on24.com/wcc/r/1898495/E8829E56C3B2257B5C944637465B69C3


The webcast along with presentation slides will be archived for 180 days on www.sierrametals.com.


Via phone:


For those who prefer to listen by phone, dial-in instructions are below. To ensure your participation, please call approximately five minutes prior to the scheduled start time of the call.


Participant Number (Toll Free North America): (833) 245-9659
Participant Number (Toll Free Peru): 0800-71-476
Participant Number (International): +1 (647) 689-4231
Conference ID: 1687775


About Sierra Metals


Sierra Metals Inc. is a Canadian-based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new discoveries and still has additional brownfield exploration opportunities at all three mines in Peru and Mexico that are within or close proximity to the existing mines. Additionally, the Company has large land packages at all three mines with several prospective regional targets providing longer term exploration upside and mineral resource growth potential.


The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.


For further information regarding Sierra Metals, please visit www.sierrametals.com.


Continue to watch our progress at:


Web: www.sierrametals.com
Twitter: sierrametals
Facebook: SierraMetalsInc
LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company’s operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company’s properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company’s securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company’s compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company’s filings with Canadian securities regulators and the U.S. Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. Forward looking information includes statements about the future and are inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company are calculated in accordance with the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the SEC. The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.




Mike McAllister
Vice President, Corporate Development
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: info@sierrametals.com


Igor Gonzales
President & CEO
Sierra Metals Inc.
Tel: +1 (416) 366-7777


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8020Admin

4 months

8020Admin posted a press release Sierra Metals Announces 2019 Cost, and Capex Guidance in SIERRA METALS INC.


Completion of New Credit Facility Expected by End of Q1 2019


Sierra Metals Inc. (TSX:SMT) (BVL:SMT) (NYSE AMERICAN:SMTS) (“Sierra Metals” or “the Company”) is reporting 2019 cost, and capex guidance which follows the 2019 production guidance previously issued (see press release dated January 24, 2019). Also, the company is close to finalizing a new credit facility which will replace the existing debt structure while providing additional liquidity.


2019 Cost Guidance


A mine by mine breakdown of 2019 production guidance, cash costs and all-in sustaining costs (“AISC”) are included in the table below. Cash costs and AISC guidance is shown per zinc equivalent payable pound at Yauricocha, copper equivalent payable pound at Bolivar, and silver equivalent payable ounce at Cusi.


Read more here:  https://quotemedia.com/portal/quote/?qm_symbol=SMT%3ACC&qmodStoryID=8320194760247511 

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8020Admin

4 months

8020Admin posted a press release Sierra Metals Reports Strong Q4-2018 Financial Results at its Sociedad Minera Corona Subsidiary in Peru in SIERRA METALS INC.

TORONTO, Feb. 15, 2019 /CNW/ - Sierra Metals Inc. (TSX:SMT, BVL:SMT) ("Sierra Metals" or the "Company") announces the filing of Sociedad Minera Corona S.A.'s ("Corona") audited Financial Statements and the Management Discussion and Analysis ("MD&A") for the fourth quarter of 2018 ("Q4 2018"). 


The Company holds an 81.8% interest in Corona. All amounts are presented in US dollars unless otherwise stated, and have not been adjusted for the 18.2% non-controlling interest.


Corona's Highlights for the Three Months Ended December 31, 2018



  • Revenues of US$39.2 million vs. US$38.2 million in Q4 2017

  • Adjusted EBITDA of US$17.4 million vs. US$17.5 million in Q4 2017

  • Total tonnes processed of 268,363 vs. 254,933 in Q4 2017

  • Net production revenue per tonne of ore milled increased by 2% to US$144.11

  • Cash cost per zinc equivalent payable pound lower by 7% to US$0.52

  • All in sustaining cost ("AISC") per zinc equivalent payable pound lower by 19% to US$0.73

  • Zinc equivalent production of 40.6 million pounds vs. 35.8 million pounds in Q4 2017

  • $17.9 million of cash and cash equivalents as at December 31, 2018

  • $41.1 million of working capital as at December 31, 2018


Read more here: https://quotemedia.com/portal/quote/?qm_symbol=SMT%3ACC&qmodStoryID=7245715730213275 

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8020Admin

4 months

8020Admin posted a press release Sierra Metals Receives Approval for Yauricocha Mine Environmental Impact Assessment for the Expansion of the Tailings Deposition Facility in SIERRA METALS INC.


TORONTO, Feb. 13, 2018 /CNW/ - Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) ("Sierra Metals" or "the Company") reports that the Company's subsidiary in Peru (Sociedad Minera Corona, S.A.) has received approval from SENACE (National Environmental Certification Service) whom are the agency responsible for the evaluation of natural resources and production projects in Peru with respect to its recent Environmental Impact Assessment (EIA) Study for the expansion of the tailings deposition facility at the Yauricocha mine.


Igor Gonzales, President and CEO of Sierra Metals commented, "Having now received approval for the EIA study at Yauricocha, we can now proceed to obtain a construction permit for the next phase of the tailings deposition facility, and to commence planning for an expanded waste rock facility.  Once those steps have been completed, we would then be able to complete a final submission of an ITS document, which is required for any potential expansion of the Mine. The Company remains committed to strict compliance with regulatory permits in Peru and Mexico in the development and organic growth of all its operating mines."


About Sierra Metals


Sierra Metals Inc. is Canadian based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.


The Company's Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol "SMT" and on the NYSE American Exchange under the symbol "SMTS".


Continue to Follow, Like and Watch our progress:


Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains "forward-looking information" and "forward-looking statements" within the meaning of Canadian and U.S. securities laws related to the Company (collectively, "forward-looking information"). Forward-looking information includes, but is not limited to, statements with respect to the Company's operations, including anticipated developments in the Company's operations in future periods, the Company's planned exploration activities, the adequacy of the Company's financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential" or variations thereof, or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company's operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company's properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company's securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company's compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company's filings with Canadian securities regulators and the U.S. Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company's forward-looking information. Forward looking information includes statements about the future and are inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission ("SEC"). The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.


Cision View original content:http://www.prnewswire.com/news-releases/sierra-metals-receives-approval-for-yauricocha-mine-environmental-impact-assessment-for-the-expansion-of-the-tailings-deposition-facility-300794730.html


SOURCE Sierra Metals Inc.


View original content: http://www.newswire.ca/en/releases/archive/February2019/13/c2045.html

regarding Sierra Metals, please visit www.sierrametals.com or contact: Mike McAllister, V.P., Corporate Development, Sierra Metals Inc., +1 (416) 366-7777, Email: info@sierrametals.com; Gordon Babcock, Chief Operating Officer, Sierra Metals Inc., + 1 (416) 366-7777; Igor Gonzales, President & CEO, Sierra Metals Inc., +1(416) 366-7777

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8020Admin

4 months

8020Admin posted a press release Sierra Metals Reports Strong 2018 Production Results and Announces 2019 Production Guidance in SIERRA METALS INC.



  • Continuing a 10-year track record of consolidated annual ore throughput growth



  • Record quarterly ore throughput at both the Bolivar and Cusi Mines



TORONTO, Jan. 24, 2019 /PRNewswire/ - Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) ("Sierra Metals" or "the Company") is pleased to report fourth quarter 2018 and full year 2018 production results, as well as 2019 production guidance.  2019 cost and capital expenditure guidance will be provided in February as the planning and costing of various capital projects, which have been recently added or modified, are currently being completed.


Read more here: https://quotemedia.com/portal/quote/?qm_symbol=SMT%3ACC&qmodStoryID=4518000553072659 

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8020Admin

4 months

8020Admin posted a press release Sierra Metals Reports Construction at Bolivar Mine/Mill in Mexico Has Been Completed Ahead of Schedule in SIERRA METALS INC.


Ramp Up Initiated to Take Throughput to 3,600 TPD From 3,000 TPD

TORONTO, Jan. 9, 2019 /CNW/ - Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) ("Sierra Metals" or "the Company") reports that the Company's expansion plans are on track at the Bolivar Mine in Mexico. In July 2018 we announced the results of a preliminary economic assessment at Bolivar to achieve a sustainable and staged increase in mine production and mill throughput from 3,000 tonnes per day ("TPD"), to 3,600 TPD in Q1-2019, and to 5,000 TPD by mid-2020.


Completion of the expansion included the installation of a refurbished mill, an electrical substation with 1250 KVA of capacity, a secondary crusher and a hydrocyclone cluster that allows for finer grind size optionality that is estimated to provide a 6% increase in copper recoveries from 80% to 86% at Bolivar Mine. The expansion was completed with a world class safety performance with zero lost time incidents and zero accidents reported. The Company used local engineering firms and local qualified contractors and technicians for the expansion project, with Sierra Metals staff conducting most of the supervision.


Igor Gonzales, President and CEO of Sierra Metals commented, "We are very pleased with the progress made with our expansion plans at the Bolivar Mine. With the early completion of construction at the Piedras Verdes Mill, we will deliver on our goal of a 20% increase in production from 3,000 TPD to 3,600 TPD, in Q1-2019."


"The expansion at Bolivar represents the first of many exciting milestones for Sierra Metals in 2019 as we continue toward our goal of creating additional value to the company and its shareholders. This expansion will contribute through a 20% increase in production rates, a 6% increase in copper recoveries and a decrease in costs per unit."


He concluded, "With increased production capacity at Bolivar Mine, we remain focused on our brownfield exploration program and the importance of continuing to add to our reserves and resources. With the discovery of future resource additions, we believe that this expansion will allow for potential new copper pounds discovered to be incorporated into production plans earlier than if the Company had maintained a lower capacity level."



Image 1: Process Flow Diagram (CNW Group/Sierra Metals Inc.)




Image 2: Electrical Substation (CNW Group/Sierra Metals Inc.)




Image 3: New Mill (CNW Group/Sierra Metals Inc.)




Image 4: Hydrocyclone Cluster, Secondary Crusher and Flash Cell (CNW Group/Sierra Metals Inc.)



About Sierra Metals


Sierra Metals Inc. is Canadian based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.


The Company's Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol "SMT" and on the NYSE American Exchange under the symbol "SMTS".


Continue to Follow, Like and Watch our progress:


Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc


Forward-Looking Statements


This press release contains "forward-looking information" and "forward-looking statements" within the meaning of Canadian and U.S. securities laws related to the Company (collectively, "forward-looking information"). Forward-looking information includes, but is not limited to, statements with respect to the Company's operations, including anticipated developments in the Company's operations in future periods, the Company's planned exploration activities, the adequacy of the Company's financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential" or variations thereof, or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.


Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, floods, labour disruptions, explosions, cave-ins, weather conditions and criminal activity; commodity price fluctuations; higher operating and/or capital costs; lack of available infrastructure; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits and the inability to replace reserves; fluctuations in the price of commodities used in the Company's operations; risks related to foreign operations; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; risks relating to outstanding borrowings; issues regarding title to the Company's properties; risks related to environmental regulation; litigation risks; risks related to uninsured hazards; the impact of competition; volatility in the price of the Company's securities; global financial risks; inability to attract or retain qualified employees; potential conflicts of interest; risks related to a controlling group of shareholders; dependence on third parties; differences in U.S. and Canadian reporting of mineral reserves and resources; potential dilutive transactions; foreign currency risks; risks related to business cycles; liquidity risks; reliance on internal control systems; credit risks, including risks related to the Company's compliance with covenants with respect to its BCP Facility; uncertainty of production and cost estimates for the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other risks identified in the Company's filings with Canadian securities regulators and the U.S. Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.


This list is not exhaustive of the factors that may affect any of the Company's forward-looking information. Forward looking information includes statements about the future and are inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.


Note Regarding Reserve and Resource Estimates


All reserve and resource estimates reported by the Company were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission ("SEC"). The differences between these standards are discussed in our SEC filings. Mineral resources which are not mineral reserves do not have demonstrated economic viability.


 

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SOURCE Sierra Metals Inc.


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regarding Sierra Metals, please visit www.sierrametals.com or contact: Mike McAllister, V.P., Corporate Development, Sierra Metals Inc., +1 (416) 366-7777, Email: info@sierrametals.com; Gordon Babcock, Chief Operating Officer, Sierra Metals Inc., + 1 (416) 366-7777; Igor Gonzales, President & CEO, Sierra Metals Inc., +1(416) 366-7777

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