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Sierra Metals Inc (AMEX: SMTS) has announced that its Special Committee, comprising independent directors, is assessing the company's financial and liquidity position amid ongoing operational challenges. The suspension of operations at the Yauricocha Mine has contributed to liquidity issues, with accumulated losses from Bolivar and Cusi operations. Although some operations have resumed, a timeline for full capacity is unclear. The Committee will explore restructuring and financing options while monitoring capital to maintain liquidity.
Sierra Metals Inc. (AMEX: SMTS) will announce its Q3-2022 consolidated financial results on November 15, 2022, after market close. A conference call and webcast will follow on November 16, 2022, at 11:00 am EST. Investors can access the live call via phone or through a webcast available on the company's website. Sierra Metals operates several mines in Peru and Mexico, focusing on increasing production and exploring new resources.
Sierra Metals Inc. announced an agreement with residents of Alis, resolving a blockade at the Yauricocha Mine. Safety inspections continue while the company prioritizes employee well-being. However, production guidance remains suspended as it's unclear when operations will return to pre-blockade levels. Sierra Metals aims to work closely with host communities to ensure stable operations. The company focuses on increasing production at the Yauricocha, Bolivar, and Cusi Mines, highlighting ongoing exploration opportunities in Peru and Mexico.
Sierra Metals Inc. (AMEX: SMTS) reports an illegal blockade by residents near the
Sierra Metals Inc. reports a tragic mudslide at its Yauricocha Mine in Peru on September 11, 2022, resulting in the loss of three contractor employees and one injury. Mining operations are temporarily halted for safety assessments. The company emphasizes its commitment to the safety of all personnel and is cooperating with local authorities, who are investigating the incident. Future updates will be provided as available.
Sierra Metals continues to focus on increasing production and mineral resources across its mining operations.
Sierra Metals (SMTS) reported Q2 2022 revenue of $49.9 million, down 13% from Q1 and 37% from Q2 2021, alongside a significant adjusted EBITDA drop of 91% to $1.4 million. The company faced challenges with lower throughput and increased operating costs, leading to an adjusted net loss of $11.6 million, or $(0.07) per share. Production targets for the second half of 2022 have been revised downward, particularly at the Bolivar mine, while guidance for Yauricocha was adjusted upward. The dividend for 2022 has been suspended due to poor financial expectations.
Sierra Metals Inc. (AMEX:SMTS) has filed its unaudited Financial Statements and Management’s Discussion and Analysis for Q2 2022 through its subsidiary Sociedad Minera Corona S.A. The company, with an 81.8% interest in Corona, plans to release consolidated financial results on August 11, 2022, followed by an investor conference call on August 12, 2022. Sierra Metals focuses on increasing production and mineral resources at its mines in Peru and Mexico, highlighting new discoveries and exploration opportunities.
Sierra Metals reports positive Q2 2022 production results, achieving a 12% increase in consolidated copper equivalent production to 17.8 million pounds compared to Q1 2022. Bolivar mine saw a 37% increase in daily throughput, while Yauricocha achieved an 11% improvement in copper equivalent production. However, Cusi mine experienced a 38% decline in silver equivalent production due to flooding. Overall, the company maintains operational stability amidst challenging market conditions.
Sierra Metals Inc. (AMEX: SMTS) will release its Q2-2022 consolidated financial results on August 11, 2022, after the market close. A conference call and webcast are scheduled for August 12 at 11:00 am EDT to discuss the results. The company, which operates the Yauricocha Mine in Peru and two mines in Mexico, aims to increase production volume and grow mineral resources. Recent discoveries and ongoing exploration efforts at its mines also highlight the company's growth potential.
Sierra Metals Inc. (NYSE AMERICAN: SMTS) announced the appointment of Oscar Cabrera as Chair of the Board of Directors, replacing Jose Vizquerra. Cabrera, who joined the Board in October 2021, brings over 20 years of experience in the metals and mining sector. Additionally, Miguel Aramburu has been appointed as a new Board member, contributing over 25 years of experience, particularly in the mining industry. CEO Luis Marchese expressed confidence that the combined expertise will bolster the company's growth and strategic initiatives.
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