SIERRA METALS REPORTS CONSOLIDATED RESULTS FOR THE THIRD QUARTER OF 20

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Click to access Sierra-Metals-Reports-Consolidated-Results-for-the-Third-Quarter-of-2017.pdf

TORONTO, Nov. 10, 2017 /PRNewswire/ – Sierra Metals Inc. (TSX:SMT)(BVL:SMT) (“Sierra Metals” or the “Company”) today reported revenue of $50.9 millionand adjusted EBITDA of $18.8 million on throughput of 504,751 tonnes and metal production of 3.8 million silver equivalent ounces or 21.9 million copper equivalent pounds for the three month period ended September 30, 2017.

(All $ figures reported in USD)

  • Adjusted EBITDA of $18.8 million in Q3 2017 increased from $16.3 million in Q3 2016

  • Operating cash flows before movements in working capital of $21.8 million in Q3 2017 increased from $16.9 million in Q3 2016

  • Revenue from metals payable of $50.9 million in Q3 2017 increased by 25% from $40.8 million in Q3 2016

  • Q3 2017 silver equivalent production of 3.7 million ounces or copper equivalent production of 21.9 million pounds; a 29% increase and 17% decrease, respectively, from Q3 2016 and close to production guidance(1)

  • Change in Metal Prices Used to Calculate Silver Equivalent Ounces and Copper Equivalent Pounds from Budgeted Prices to Realized Quarterly Prices

  • $28.6 million of cash and cash equivalents as at September 30, 2017

  • Net Debt of $39.9 million as at September 30, 2017

  • Shareholder conference call to be held Monday November 13, 2017 at 10:30 AM (EST)

 (1) Silver equivalent ounces and copper equivalent pounds for Q3 2017 were calculated using the following realized metal prices: $16.86/oz Ag, $2.93/lb Cu, $1.08/lb Pb, $1.36/lb Zn, $1,280/oz Au. Silver equivalent ounces and copper equivalent pounds for Q3 2016 were calculated using the following realized metal prices: $19.17/oz Ag, $2.16/lb Cu, $0.85/lb Pb, $1.02/lb Zn, $1,347/oz Au. Silver equivalent ounces and copper equivalent pounds for 9M 2017 were calculated using the following realized metal prices: $17.31/oz Ag, $2.70/lb Cu, $1.03/lb Pb, $1.28/lb Zn, $1,253/oz Au. Silver equivalent ounces and copper equivalent pounds for 9M 2016 were calculated using the following realized metal prices: $17.61/oz Ag, $2.15/lb Cu, $0.82/lb Pb, $0.90/lb Zn, $1,276/oz Au.

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