SMTS - SMTS STOCK NEWS

Sierra Metals Inc. reported a 24% decrease in copper equivalent production in 2021 compared to 2020, primarily due to lower grades and COVID-19 operational challenges. Despite a 3% increase in consolidated mill throughput, annual copper production fell 28% to 31.8 million pounds. The fourth quarter witnessed a significant decline in copper production, down 43% from Q4 2020. Operational issues at the Bolivar Mine led to a 65% drop in its copper equivalent production. The company plans to postpone its 2022 production guidance to March 16, 2022, while focusing on safety and addressing workforce challenges.

Sierra Metals reports an updated Preliminary Economic Analysis (PEA) for its Yauricocha Mine, Peru, based on resources dated March 31, 2021. Key highlights include a total development capital of US$102.2 million, after-tax NPV of US$273.1 million, and an estimated cash flow of US$407.7 million over a mine life of 11 years. The expansion aims to increase production to 5,500 TPD by 2024. Average operating costs are projected at US$44.01/tonne. The PEA remains preliminary and includes inferred resources, indicating potential economic uncertainty.

Sierra Metals Inc. reported a tragic fatality at its Bolivar Mine in Chihuahua, Mexico, on January 10, 2022. The incident involved one worker who succumbed to injuries after being evacuated to medical facilities in Cuauhtemoc. The company has expressed deep condolences to the victim’s family and emphasized its commitment to workforce safety. A comprehensive investigation is underway to determine the cause of the accident. Sierra Metals continues to focus on production and resource development at its mining operations in Peru and Mexico.

Sierra Metals reported Q3 2021 revenue of $60.7 million, showing a 17% decrease from $73.2 million in Q3 2020. Adjusted EBITDA fell 53% to $17.4 million, and cash flow from operations slipped to $16.5 million. Lower production volumes and head grades at the Yauricocha and Bolivar mines contributed to the decline. The company revised its 2021 EBITDA guidance down to $105M-$110M from $130M-$140M, primarily due to ongoing operational challenges, including COVID-19 impacts. Shareholder conference call scheduled for November 9, 2021, at 10:30 AM (EST).

Sierra Metals declared an annual dividend of US$0.03 per common share for the 2021 fiscal year. The dividend, designated as an eligible dividend for Canadian tax purposes, will be payable on December 7, 2021, to shareholders of record by November 22, 2021. With 163,428,150 common shares outstanding, this distribution reflects the company's financial commitment to its shareholders. Sierra Metals continues to focus on enhancing production at its mines in Peru and Mexico.

Sierra Metals reported its Q3 2021 financials, revealing revenues of $44.4 million, a slight decline from $44.6 million in Q3 2020. Adjusted EBITDA decreased 14% to $22.7 million. Despite a 30% drop in copper equivalent production, cash and cash equivalents stood at $44.1 million as of September 30, 2021. The company continues to improve treatment capacity and plans a Preliminary Feasibility Study for expansion. Q3 net income was $7.8 million, down 39% year-over-year. CEO Luis Marchese emphasized operational challenges influenced by COVID-19 and ongoing growth initiatives.

Sierra Metals Inc. reported a challenging third quarter of 2021, with significant decreases in production across all metals compared to Q3 2020. Copper production dropped by 32% to 8.3 million pounds, while zinc and silver production decreased by 23% and 21%, respectively. Operational setbacks were attributed to COVID-19 related issues and equipment availability at the Bolivar Mine. Despite these challenges, the company aims to stabilize operations and meet the lower end of its revised annual production guidance, anticipating improved resource quality and tonnage from ongoing development efforts.

Sierra Metals Inc. (AMEX: SMTS) will announce its Q3-2021 financial results on November 8^th, 2021, after market close. Following this, a conference call and webcast will take place on November 9^th, 2021, at 10:30 am EST. Stakeholders can participate via phone or through a live audio webcast available on the company's website. The meeting will focus on the company's performance and future outlook as it continues to enhance production and exploration in its mining operations located in Peru and Mexico.

Sierra Metals (SMTS) announces the completion of its strategic alternatives review, aiming to maximize shareholder value through various initiatives focused on copper, zinc, and iron ore production. The company plans to assess its asset portfolio for potential divestments and partnerships, particularly regarding the Cusi Silver Mine. An annual dividend of US$5 million or US$0.03 per share is set for declaration in November 2021 and payment in December 2021. Additionally, two new directors join the board, enhancing leadership expertise.