Sierra Metals Inc. (TSX:SMT) (“Sierra Metals” or the “Company”) today reported revenue of $40.8 million and adjusted EBITDA of $16.3 million on throughput of 536,553 tonnes and metal production of 3.2 million silver equivalent ounces or 21.3 million copper equivalent pounds during Q3 2016.
Sierra Metals had an exceptional third quarter and benefited from the continued rise in metal prices. The Company saw significant improvements in revenue and adjusted EBITDA combined with lower AISC costs in the third quarter. This was largely attributable to the completion of key aspects of the operational improvements program and a return to normalized operations at the Yauricocha Mine in Peru, which had record throughput this quarter. The Company achieved excellent year over year improvement in the third quarter with revenue up 43%, adjusted EBITDA up 708% and the ASIC per silver equivalent payable ounce lower by 19% to US$11.80 at the Yauricocha Mine. Also, the AISC per copper payable equivalent pound was lower by 42% to US$1.90 at the Bolivar Mine in Mexico.