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Sierra Metals Inc. (SMTSF) provides investors with comprehensive updates on its Latin American mining operations through this dedicated news hub. Track official press releases and verified developments across the company's precious metals and base metals production activities in Peru and Mexico.
This resource consolidates critical updates including quarterly earnings reports, operational milestones, sustainability initiatives, and strategic expansions. Investors gain direct access to primary source materials for informed analysis of the company's evolving position in the mining sector.
All content undergoes strict verification to ensure accuracy and relevance. Users will find updates organized by operational categories including production statistics, infrastructure developments, and market positioning within the Latin American mining landscape.
Bookmark this page for streamlined access to Sierra Metals' latest corporate communications. Regular updates provide stakeholders with timely insights into one of Latin America's established mid-tier mining producers.
Sierra Metals (SMTSF) reported strong Q4 and full-year 2024 production results, exceeding annual guidance for copper, silver, gold, and zinc, while meeting lead production targets. The company achieved record Q4 throughput of 797,774 tonnes, an 18% increase from Q4 2023.
The Yauricocha mine in Peru reached record throughput rates of 3,945 tonnes per day in Q4, 31% higher than Q4 2023, primarily due to increased access below the 1120 level. The Bolivar mine in Mexico processed 5,173 tonnes per day in Q4, operating 3% above nameplate capacity.
For 2025, Sierra Metals expects increased production at Yauricocha, focusing on mining below the 1120 level and a newly discovered high-grade zone. The company anticipates maintaining throughput rates beyond the permitted capacity of 3,600 tpd at Yauricocha, while Bolivar aims to continue operating above its 5,000 tpd nameplate capacity.
Sierra Metals (SMTSF) Board of Directors has unanimously rejected Alpayana's unsolicited all-cash takeover bid of C$0.85 per share, deeming it inadequate and undervalued. The Board highlighted that shareholders representing over 50% of outstanding shares have already indicated they won't support the hostile bid.
The company projects significant growth with EBITDA expected to reach US$130 million in 2025, representing an 80% increase from 2024's expected US$72 million and a 158% rise from 2023's US$50 million. This growth is driven by increased production at both Yauricocha and Bolivar mines.
The Board emphasizes that the hostile bid fails to recognize Sierra's strategic value as a copper producer in proven mining jurisdictions, with the company's anticipated net debt/2025E EBITDA ratio of 0.6x below the industry median of 0.8x. BMO Capital Markets has provided an opinion stating the bid is financially inadequate for shareholders.
Sierra Metals (TSX: SMT | OTCQX: SMTSF | BVL: SMT) has implemented a shareholder rights plan effective December 30, 2024. The plan aims to ensure fair treatment of shareholders during take-over bids and protect against 'creeping bids' for outstanding common shares. Under the plan, rights holders can purchase additional common shares at a 50% discount to market price if rights become exercisable. One right is attached to each existing common share. The plan requires shareholder ratification and Toronto Stock Exchange approval at a special meeting before June 30, 2025, or it will be terminated.
Sierra Metals (SMTSF) announced that a majority of shareholders have rejected Alpayana's unsolicited take-over bid of C$0.85 per share, considering it inadequate. Shareholders holding over 50% of outstanding common shares have informed the company they won't support the bid. CEO Ernesto Balarezo emphasized shareholders' recognition of the company's substantial progress over the past two years and potential for further value enhancement.
The company has engaged BMO Capital Markets as financial advisor, Mintz LLP as legal counsel, and Carson Proxy Advisors for communications. A special committee of independent directors has retained Bennett Jones as legal advisor. Sierra Metals advises shareholders to take no action while it reviews strategic options.
Sierra Metals (TSX: SMT | OTCQX: SMTSF) has acknowledged a press release from Alpayana S.A.C. announcing its intention to launch an unsolicited all-cash takeover bid for all outstanding Sierra Metals shares. The company notes that no formal written offer has been received, and there's no assurance an offer will be made. The Board has formed a Special Committee of independent directors to evaluate the announcement. The indicated price of C$0.85 per share represents a 10.4% premium, which the Board considers very low and opportunistic given Sierra's asset quality and growth plans. Shareholders are advised to take no action at this time.
Sierra Metals (SMTSF) announces a special meeting of shareholders on January 31, 2025, to seek approval for a share consolidation at a ratio of up to 1:20. The Board believes this consolidation will enhance share marketability and attract broader investor interest. Over the past 24 months, the company has achieved significant operational improvements, including:
- Increased Yauricocha Mine throughput to 3,600 tonnes per day (30% increase)
- Expanded Bolivar Mine capacity to 5,000 tonnes per day with plans for 50% increase
- Updated NI 43-101 compliant mineral reserves
- Divested Cusi Mine for US$2.5 million plus 2% net smelter royalty
- Refinanced long-term debt and completed equity private placement
- Strengthened leadership with new CEO, CFO, and board members
Sierra Metals has released its 2025 production and cost guidance for its Yauricocha (Peru) and Bolivar (Mexico) underground mines. The company expects to operate at full capacity at both locations, with Yauricocha reaching full capacity levels enabling higher throughput rates. Production guidance for 2025 includes: 44,600-48,500 thousand pounds of copper, 53,600-58,400 thousand pounds of zinc, 1,900-2,060 thousand ounces of silver, 10,200-11,100 ounces of gold, and 13,700-15,000 thousand pounds of lead.
For cost guidance, Yauricocha's cash costs are projected at $2.42-$2.59/CuEq with AISC at $2.91-$3.11/CuEq, while Bolivar's cash costs are expected at $2.64-$2.77/CuEq with AISC at $3.45-$3.62/CuEq.
Sierra Metals announces that its Yauricocha mine in Peru has achieved full throughput capacity of 3,600 tonnes per day since the start of Q4. The company completed mine development below the 1120 level on time and within budget, successfully extending the mine's life. This represents a 30% increase from December 2023 throughput levels.
CEO Ernesto Balarezo highlighted that the team accomplished this expansion in just seven months after receiving operating and environmental permits earlier in 2024. The increased capacity and resulting lower operating costs are described as a game-changer for both the mine and Sierra Metals.
Sierra Metals reported its Q3 2024 financial results, highlighting significant improvements. Revenue reached $70.9 million, a 23% increase from Q2 2024 and a 25% rise from Q3 2023. Adjusted EBITDA was $20.4 million, up 57% from Q2 2024 and 152% from Q3 2023. Cash flow from operations before working capital movements was $22.1 million, up 48% from Q2 2024 and 268% from Q3 2023. Yauricocha Mine averaged 3,050 tonnes per day in Q3 2024 and is on track to achieve 3,600 tonnes per day in Q4 2024. The company expects to exceed its consolidated annual production guidance for 2024. Net income from continuing operations was $6.5 million, while discontinued operations posted a loss of $2.7 million. Cash and equivalents stood at $18.6 million as of September 30, 2024. The sale of the Cusi Mine was completed in July 2024. Management will discuss these results in a webcast on November 7, 2024.
Sierra Metals announces that its subsidiary, Sociedad Minera Corona, has filed unaudited Financial Statements and Management's Discussion and Analysis for Q3 2024 at the Lima Stock Exchange. Sierra Metals holds an 81.8% interest in Corona. The company will release its consolidated financial results on November 6, 2024, followed by a conference call on November 7, 2024. Sierra Metals is a Canadian mining company focused on copper production with additional base and precious metals by-product credits at its Yauricocha Mine in Peru and Bolivar Mine in Mexico.
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