Payable Pound (US$) 2.44 2.57
---------------------------------- ------ ------------ ------------
All-In Sustaining Cash Cost per
Copper Equivalent Payable Pound (US$) 3.12 3.09
---------------------------------- ------ ------------ ------------
(1) G&A Costs for the quarter ended March 31, 2023 have been adjusted to
include site G&A only. Allocation of corporate G&A costs have been
excluded for consistency with the G&A costs for the quarter ended March
31, 2024 and those used in the 2024 guidance cash costs and AISC.
(2) Copper equivalent payable pounds were calculated using the following
realized prices:
Q1 2024 - $3.84/lb Cu, $1.12/lb Zn, $23.41/oz Ag, $0.94/lb Pb,
$2,069/oz Au.
Q4 2023 - $3.70/lb Cu, $1.13/lb Zn, $23.22/oz Ag, $0.96/lb Pb,
$1,976/oz Au.
Q1 2023 - $4.06/lb Cu, $1.42/lb Zn, $22.57/oz Ag, $0.97/lb Pb,
$1,891/oz Au.
Additional non-IFRS measures
The Company uses other financial measures, the presentation of which is not meant to be a substitute for other subtotals or totals presented in accordance with IFRS, but rather should be evaluated in conjunction with such IFRS measures. The following other financial measures are used:
-- Operating cash flows before movements in working capital - excludes the
movement from period-to-period in working capital items including trade
and other receivables, prepaid expenses, deposits, inventories, trade and
other payables and the effects of foreign exchange rates on these items.
The terms described above do not have a standardized meaning prescribed by IFRS, and therefore the Company's definitions are unlikely to be comparable to similar measures presented by other companies. The Company's management believes that their presentation provides useful information to investors because cash flows generated from operations before changes in working capital excludes the movement in working capital items. This, in management's view, provides useful information of the Company's cash flows from operations and are considered to be meaningful in evaluating the Company's past financial performance or its future prospects. The most comparable IFRS measure is cash flows from operating activities.
About Sierra Metals
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. The Company is intent on safely increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company has large land packages at each of its mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.
For further information regarding Sierra Metals, please visit www.sierrametals.com.
Forward-Looking Statements
This press release contains forward-looking information within the meaning of Canadian securities legislation. Forward-looking information relates to future events or the anticipated performance of Sierra and reflect management's expectations or beliefs regarding such future events and anticipated performance based on an assumed set of economic conditions and courses of action. In certain cases, statements that contain forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur" or "be achieved" or the negative of these words or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Sierra to be materially different from any anticipated performance expressed or implied by such forward-looking information.
Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading "Risk Factors" in the Company's annual information form dated March 15, 2024 for its fiscal year ended December 31, 2023 and other risks identified in the Company's filings with Canadian securities regulators, which are available at www.sedarplus.ca.
The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company's forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240509729031/en/
CONTACT: Investor Relations
Sierra Metals Inc.
+1 (866) 721-7437
info@sierrametals.com
(END) Dow Jones Newswires
May 13, 2024 07:03 ET (11:03 GMT)
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