Sierra Metals Inc (TSX:SMT)
C$ 0.86 0.04 (4.88%) Market Cap: 181.37 Mil Enterprise Value: 286.20 Mil PE Ratio: 0 PB Ratio: 1.59 GF Score: 50/100
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Q2 2024 Sierra Metals Inc Earnings Call Transcript

Aug 12, 2024 / 03:00PM GMT
Release Date Price: C$0.66 (-2.94%)

Key Points

Positve
  • Sierra Metals Inc (SMTSF) reported a strong cash flow from operations, reaffirming their 2024 guidance.
  • The company successfully refinanced its debt, enhancing financial flexibility and extending the maturity profile.
  • Production levels are expected to increase in the second half of 2024, with full capacity production at Yauricocha anticipated by Q4 2024.
  • The new primary crusher at Bolivar is operational, and water availability issues have been resolved, which should boost production.
  • Sierra Metals Inc (SMTSF) has a significant amount of mineral reserves and resources, providing a foundation for growth at Yauricocha and Bolivar mines.
Negative
  • Production at both Yauricocha and Bolivar mines was lower in Q2 2024 compared to Q1 2024 and Q2 2023 due to lower grades and throughput.
  • Cash costs and all-in sustaining costs per pound increased due to lower grades and throughput, leading to higher unit costs.
  • The company experienced a decrease in metal sales, resulting in a drop in corporate development payments.
  • Bolivar's lower grades during Q2 2024 were a result of the mining program sequence, impacting overall production.
  • The company is still in the pre-engineering phase for the expansion of the tailings facility at Bolivar, which may take two to three years to complete.
Operator

Thank you for standing by. This is the conference operator. Welcome to the Sierra Metals Inc. second quarter 2024 financial and operating results conference call. As a reminder, all participants are in listen-only mode and the conference is being recorded. (Operator Instructions)

I will now hand the call over to Lia Benavides, the company's new Corporate Finance Manager. Please go ahead.

Lia Benavides
Sierra Metals Inc - Corporate Finance Manager

Thanks. The company presentation for today's call is available for download from the company's website at sierrametals.com. Today's press release, the financial statements and the MD&A are posted on our website and on SEDAR+. I would like to note that this earnings call contains forward-looking information that is based on the company's current expectations, estimates and beliefs. Please review our Q2 2024 disclosure materials for forward-looking information.

Please note that all dollar amounts mentioned on today's call are in US dollars, unless otherwise noted, and that all unit cash cost and

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