Yauricocha Mine Has 18% Increase In Revenue

 

TORONTO, ON - Sierra Metals Inc. reported the filing of Sociedad Minera Corona S.A.'s unaudited Financial Statements and the Management Discussion and Analysis (MD&A) for the second quarter of 2018 ("Q2 2018"). The Company holds an 81.8%  interest in Corona. All amounts are presented in US dollars unless otherwise stated, and have not been adjusted for the 18.2% non-controlling interest.

"Corona's 2018 second quarter results demonstrate the Company's continued commitment to successfully growing mineral resources, as well as production, at Yauricocha," stated Igor Gonzales, President and CEO of Sierra Metals. "In Q2 2018 the Mine reported an 18% increase in revenue, and a 25% increase in adjusted EBITDA over the same period in 2017.  With record quarterly throughput, a 4% increase to production revenue per tonne milled, and a 5% decrease to the AISC per zinc equivalent payable pound, Yauricocha's operational and financial performance continues to improve as well made capital investments come to fruition at the Mine."

He continued, "With a positive Preliminary Economic Assessment study completed and future production expansion plans under way, management is confident that the outlook for continued success at the Yauricocha Mine remains positive. The Company continues to have a solid balance sheet, and strong liquidity, to meet its operational and growth expenditure requirements. We look forward to the developments taking place over the third quarter, including the completion of the Yauricocha tunnel infrastructure, as well as the continued sinking of the Yauricocha shaft to provide access to a significant amount of reserves and resources that were recently delineated. These projects will enable our team to operate more efficiently and effectively, ultimately providing an even stronger balance sheet for Sierra Metals."