TORONTO, Aug. 15, 2016 /CNW/ – Sierra Metals Inc. (TSX:SMT)(BVL:SMT) (“Sierra Metals” or the “Company”) today reported revenue of $36.9 million and an adjusted EBITDA of $5.4 million on throughput of 503,988 tonnes and metal production of 3.0 million silver equivalent ounces or 19.7 million copper equivalent pounds for Q2 2016.
The Company continues to successfully work through the operational improvement process at its Yauricocha Mine, and has seen metal production improve dramatically, quarter over quarter from Q1 2016 and Q4 2015. The Company has increased silver equivalent ounce and copper equivalent pound production by 24% despite only a 4% increase in throughput in Q2 2016 compared to Q1 2016. The Company has successfully focused on producing higher value ore which, along with the upturn in metal prices, has contributed to a significant increase in revenues and adjusted EBITDA in Q2 2016 compared to the previous two quarters.