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Sierra Metals Inc. is a premier Latin American precious and base metals producer. The company owns and operates three mines in commercial production: the Yauricocha mine in Peru, the Bolivar and Cusi mines in Mexico. In 2011, Sierra Metals acquired 82% of Sociedad Minera Corona S.A., dramatically transforming its production profile and establishing it as a mid-tier producer. The completion of the Piedras Verdes mill in Mexico and the announcement of commercial production at the Bolivar mine further solidified Sierra Metals' position in the industry.
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Sierra Metals reports strong Q1 2024 production results with record quarterly copper equivalent production at Bolivar mine. Consolidated copper production increased by 36% compared to Q1 2023, reaffirming annual guidance targets for all metals. Bolivar mine achieved another record quarter of metal production, while Yauricocha mine is progressing as planned towards full capacity by Q4 2024. Financial results to be released on May 13, 2024.
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Sierra Metals Inc. strengthens its market position in base metals through strategic operations in Peru and Mexico, with a focus on copper. With a 75-year legacy at the Eureka mine, the company emphasizes sustainable growth and environmental responsibility. Sierra Metals actively seeks expansion opportunities, leveraging positive cash flow and mineral discoveries to drive innovation and solidify its role in the mining industry.
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Sierra Metals Inc. announces plans to obtain a secondary listing on the Bolsa de Valores de Lima, expecting increased investor exposure and market liquidity.
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Sierra Metals Inc. reports strong financial results for Q4 2023 and FY 2023, showcasing significant revenue growth and improved EBITDA. The company's revenue increased by 58% in Q4 2023 compared to the previous year, reaching $60.6 million. Adjusted EBITDA also saw a substantial improvement, standing at $12.2 million in Q4 2023. For the full year 2023, Sierra Metals reported revenue of $229.5 million, a 39% increase from 2022, with Adjusted EBITDA of $50.3 million, marking a five-fold increase. Copper equivalent production showed significant growth as well, with 76.7 million pounds produced in 2023, a 37% increase from the previous year.
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Sierra Metals Inc. appoints Astolfo Romero as Vice President, Health & Safety, replacing retiring Felix Guerra. Romero brings over 30 years of experience in oil & gas and mining sectors, with a strong focus on health and safety standards. CEO Ernesto Balarezo praises Guerra's contributions to Sierra's safety culture.
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Sierra Metals appoints Astolfo Romero as Vice President of Health & Safety, replacing Felix Guerra. Romero brings over 30 years of experience in oil & gas and mining sectors, aiming to enhance safety standards.
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Sierra Metals Inc. has received a permit to operate below the 1120 Level at its Yauricocha Mine in Peru. This permit is expected to increase throughput by approximately 40%, reduce costs, extend mine life, and support the company's overall growth strategy.
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Sierra Metals Inc. reschedules its Q4 2023 Conference Call and Webcast, with its subsidiary Corona filing unaudited Financial Statements and MD&A at the Lima Stock Exchange. Sierra Metals will release its Q4 2023 consolidated financial results on March 18, 2024.
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Sierra Metals Inc. (TSX: SMT | OTCQX: SMTSF) reports a 37% increase in 2023 copper equivalent production over 2022 and meets 2023 production guidance. The Company expects 2024 to be a year of stable operations while positioning its core mines for long term growth.
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Sierra Metals Inc. provides an update on the status of its permit to operate below the 1120 level at its Yauricocha Mine in Peru. The permit is in the final stages of assessment, with a resolution expected by the end of Q1 2024. Once obtained, the permit will increase the mine's throughput by approximately 40% and support long-term operations. The Company anticipates nearly $1 billion in investment over the next decade, with a six to nine-month timeline to reach full production. Capital required to begin mining below Level 1120 is estimated at $3 to $4 million, expected to be funded from existing sources of cash and working capital.
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FAQ
What is the current stock price of SIERRA METALS ORD (SMTSF)?
The current stock price of SIERRA METALS ORD (SMTSF) is $0.5742 as of December 24, 2024.
What is the market cap of SIERRA METALS ORD (SMTSF)?
The market cap of SIERRA METALS ORD (SMTSF) is approximately 111.6M.
Where does Sierra Metals operate its mines?
Sierra Metals operates three mines in commercial production: the Yauricocha mine in Peru, and the Bolivar and Cusi mines in Mexico.
What was the impact of acquiring Sociedad Minera Corona S.A. on Sierra Metals?
The acquisition of Sociedad Minera Corona S.A. in 2011 transformed Sierra Metals' production profile and elevated it to a mid-tier precious and base metals producer.
What was the significance of completing the Piedras Verdes mill in Mexico?
The completion of the Piedras Verdes mill in Mexico increased Sierra Metals' production capacity and bolstered its operations in the region.
When was commercial production announced at the Bolivar mine?
Commercial production was announced at the Bolivar mine following the completion of the Piedras Verdes mill in Mexico.
How has Sierra Metals' expansion in Peru affected its overall production profile?
Sierra Metals' expansion in Peru, particularly with the acquisition of the Yauricocha mine, significantly impacted its production profile and established it as a key player in the industry.
What is the current production capacity of the Piedras Verdes mill in Mexico?
The Piedras Verdes mill in Mexico has a current throughput capacity of 2,000 tpd following a 2013 expansion.
What propelled Sierra Metals from a junior exploration company to a mid-tier producer?
The acquisition of Sociedad Minera Corona S.A. and the expansion of operations in Peru propelled Sierra Metals from a junior exploration company to a mid-tier producer.
What is the strategic significance of Sierra Metals' mines in Peru and Mexico?
Sierra Metals' mines in Peru and Mexico play a strategic role in the company's production portfolio, contributing to its status as a leading Latin American metals producer.
How has Sierra Metals established itself in the Latin American metals market?
Through strategic acquisitions and operational expansions, Sierra Metals has established itself as a premier Latin American precious and base metals producer.
What are Sierra Metals' key achievements in recent years?
Sierra Metals has achieved significant milestones in recent years, including the acquisition of Sociedad Minera Corona S.A. and the expansion of its production capacity in Mexico and Peru.
SIERRA METALS INC ORD
OTC:SMTSF
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