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Friday, January 24, 2020
Sierra Metals (SMTS)
Fourth Quarter Production Results In Line with Expectations
Sierra Metals Inc is a precious and base metals producer in Latin America. The company acquires, explores, extracts, and produces mineral concentrates consisting of silver, copper, lead, zinc and gold in Mexico and Peru. Its activity includes the operation of the Yauricocha Mine in Peru, and the Bolivar and Cusi mines in Mexico. Yauricocha is an underground polymetallic mine using the sublevel block caving and cut-and-fill mining methods. Bolivar is a copper-silver-zinc-gold underground mine using room-and-pillar mining method. The majority of the revenue is earned by selling of the mineral concentrates to its customers in Peru.
Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.
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SMTS reports fourth quarter production results. Compared with the prior year period, fourth quarter production of gold increased 69.2% to 3,615 ounces, silver increased 24.3% to 871 thousand ounces, lead production increased 24.9% to 9.9 million pounds, copper production increased 26.6% to 11.3 million pounds and
2020 Guidance. At the midpoints of 2020 production guidance, Sierra expects 14.0%, 20.7% and 31.2% increases in silver, copper and zinc equivalent production relative to 2019. Production capacity is expected to increase from 8,350 tonnes per day at year-end 2019 to 9,500 tonnes per day by year-end 2020 and…
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