Welcome to our dedicated page for Sierra Metals news (Ticker: SMTSF), a resource for investors and traders seeking the latest updates and insights on Sierra Metals stock.
The news feed for Sierra Metals Inc. (SMTSF) covers company announcements, operating updates and corporate transactions for this Canadian mining company. Sierra Metals focuses on copper production with additional base and precious metals by-product credits from its Yauricocha Mine in Peru and Bolivar Mine in Mexico, and its news often reflects developments at these assets.
Investors and analysts following SMTSF can use this page to review updates on consolidated operating and financial results, including periodic discussions of ore throughput, metal production and non-IFRS performance measures such as adjusted EBITDA and all-in sustaining costs, as disclosed by the company. Releases also describe the performance and filings of its majority-owned Peruvian subsidiary, Sociedad Minera Corona S.A., which holds the Yauricocha Mine.
A significant portion of recent news has focused on the take-over process involving Alpayana S.A.C. and Alpayana Canada Ltd. Items include the launch and subsequent increases of Alpayana’s all-cash offer, the formation and work of Sierra Metals’ special committee, the board’s evolving recommendations, and the eventual agreement in principle for a supported bid. Later announcements detail shareholder meetings, voting results, and approval of an amalgamation that will result in Sierra Metals becoming a wholly owned subsidiary of Alpayana.
Readers can expect coverage of topics such as quarterly financial results, subsidiary financial filings in Peru, shareholder meeting notices, responses to bid-related communications, and key milestones in the acquisition and amalgamation process. This page is useful for anyone researching how Sierra Metals has communicated about its operations, exploration outlook around Yauricocha and Bolivar, and the transition from a publicly traded issuer to a company controlled by Alpayana.
Sierra Metals (TSX: SMT | OTCQX: SMTSF) has announced reaching an agreement in principle with Alpayana for an all-cash, board-supported take-over bid. Under the agreement, Alpayana Canada will offer to acquire all common shares of Sierra Metals for CDN $1.15 per share.
The parties expect to finalize the Support Agreement by April 30, 2025. The bid has received unanimous support from Sierra Metals' Board of Directors and Special Committee of independent directors. BMO Capital Markets has provided a fairness opinion confirming the financial fairness of the consideration for shareholders as of April 22, 2025.
All directors and officers of Sierra Metals will enter into lock-up agreements to tender their shares. The offer expiry has been extended to May 12, 2025, at 5:00 p.m. (Toronto time) to allow shareholders sufficient time to tender their shares.
Sierra Metals (SMTSF) reported strong Q1 2025 production results, with consolidated ore throughput increasing 18% year-over-year to 752,771 tonnes. Copper production rose 14% to 12,783,000 pounds, driven by significant improvements at both Yauricocha and Bolivar mines.
The Yauricocha mine in Peru saw a 37% increase in throughput to 329,363 tonnes, with copper output more than doubling and gold production nearly tripling year-over-year. The mine reported higher head grades for copper, silver, and gold, while zinc and lead grades declined.
The Bolivar mine in Mexico processed 423,408 tonnes, up 6% from Q1 2024. However, production declined across all metals due to lower head grades, with copper down 25%, silver down 6%, and gold down 35% year-over-year. The company will release its Q1 2025 financial results on May 14, 2025.
Sierra Metals (TSX: SMT | OTCQX: SMTSF) has reiterated its recommendation for shareholders to reject Alpayana's amended hostile takeover bid. The revised offer increases from C$0.85 to C$1.11 per Common Share, with an extended expiry date to April 25, 2025.
Alpayana has waived its previous condition requiring 66⅔% of shares to be tendered, suggesting lower-than-expected shareholder interest. BMO Capital Markets has delivered an opinion confirming the revised offer price remains financially inadequate for shareholders.
The company strongly defends its 2025 EBITDA guidance of approximately US$130 million, representing 75% year-over-year growth. Sierra Metals disputes Alpayana's claims about potential dilutive financing, citing improved balance sheet and increased cash generation prospects. None of Sierra Metals' directors or officers intend to tender their shares to the hostile bid.
Sierra Metals (TSX: SMT | OTCQX: SMTSF) has acknowledged a press release from Alpayana S.A.C. regarding their intention to update a previously announced unsolicited all-cash takeover bid for all outstanding Sierra common shares. The company has advised shareholders to take no action at this time.
Sierra emphasizes its commitment to delivering long-term value to shareholders and stakeholders. The company is actively engaged in negotiations with third parties who are reviewing Sierra's confidential information to explore additional alternatives. The Board of Directors will make recommendations regarding the amended hostile bid's merits.
Sierra Metals (SMTSF) reported strong financial results for Q4 and Full Year 2024, with record annual revenue of $272 million, up 19% from 2023. The company achieved Adjusted EBITDA of $74.2 million, a 40% increase year-over-year.
Q4 2024 marked their strongest quarter with record revenue of $81 million and consolidated throughput of 798kt processed, representing a 19% increase over Q3. The company ended the year with cash and equivalents of $19.8 million, up from $9.1 million in 2023.
Both Yauricocha and Bolivar mines exceeded 2024 production guidance, with consolidated copper, zinc, and silver production increasing by 10%, 3%, and 1% respectively compared to 2023. The company expects to deliver EBITDA of approximately $130 million for 2025, focusing on production increases and lower costs.
Sierra Metals (SMTSF) reports significant operational progress and financial outlook, projecting an 85% EBITDA increase to US$130 million in 2025 from US$70 million expected in 2024. The company highlights record production levels at its Yauricocha (Peru) and Bolivar (Mexico) mines, with 2025 forecasted AISC of US$2.93 and US$3.38 per pound respectively.
The Board unanimously recommends shareholders REJECT Alpayana's hostile takeover bid, citing undervaluation at 1.9x EV/forecasted 2025 EBITDA multiple. Recent drill results at Bolivar mine showed copper grades higher than current mineral resource estimates, with both deposits remaining open for expansion.
The company successfully refinanced its debt with a US$95 million facility, improving working capital and financial flexibility. Management expects increased operating cash flow to adequately fund capital investments and debt repayment obligations.
Sierra Metals (TSX: SMT | OTCQX: SMTSF | BVL: SMT) has announced a schedule for its upcoming financial results release. The company will publish its Q4 2024 and fiscal year 2024 financial and operating results on March 26, 2026, after market hours.
A conference call and webcast to discuss these results will be held on March 27, 2025 at 11:00 am (Eastern). The company will provide both English and Spanish versions of the webcast, with toll-free access available for Canada/US participants at 1-844-763-8274, and alternative dial-in at +1-647-484-8814.
Sierra Metals Inc. (TSX: SMT | OTCQX: SMTSF) announced that its Peruvian subsidiary, Sociedad Minera Corona, has filed its unaudited Financial Statements and Management's Discussion and Analysis for Q4 2024 at the Lima Stock Exchange. Sierra Metals holds an 81.84% interest in Corona.
The company operates primarily as a copper producer with additional base and precious metals by-product credits at its Yauricocha Mine in Peru and Bolivar Mine in Mexico. Sierra Metals is focused on increasing production volume and growing mineral resources, with several new key discoveries and brownfield exploration opportunities near existing mines. The company maintains large land packages at both mining sites with multiple prospective regional targets for long-term exploration and mineral resource growth potential.
Sierra Metals (TSX: SMT | OTCQX: SMTSF) announced that the Toronto Stock Exchange (TSX) has deferred its review of the company's shareholder rights plan dated December 30, 2024. The TSX will consider accepting the Rights Plan once it's satisfied that securities regulatory authorities won't intervene and shareholders ratify the plan by June 30, 2025.
The Rights Plan, which remains operative despite the TSX deferral, was implemented in response to an unsolicited take-over bid (Hostile Bid) by Alpayana S.A.C. for all Sierra common shares. The plan will stay effective for at least six months from its December 30, 2024 adoption date, unless terminated earlier.
Sierra Metals (SMTSF) has announced promising drill results from its Bolivar Mine in Mexico, specifically from the Marian Zone. The drilling program revealed copper grades higher than current Measured & Indicated Mineral Resources, with potential to extend the mineralized body by approximately 300 meters along strike and 600 meters vertically.
Notable drill intercepts include grades up to 2.45% copper, with varying gold, silver, and zinc content. The Marian Zone is characterized as a mineralized ore body trending northeast-southwest with a 67° southeast dip, located northwest of the Cieneguita Manto Zone. The mineralization width varies between 9 and 26.4 meters.
Additional drilling is planned for 2025 to further extend the Marian Zone to the northeast and at depth. The company views these results as part of their strategic exploration efforts to replace and grow mineral resources at Bolivar.