SIERRA METALS PRODUCES RECORD 3.1 MILLION SILVER EQUIVALENT OUNCES IN Q2-2015 ___________________________________________________________________
Subsequent to quarter end, successfully refinanced US$48 million Corona Acquisition Credit Facility, providing increased financial flexibility to the Company
Record silver equivalent production for the second consecutive quarter
Record throughput for the second consecutive quarter with increases at all three Mines
On track to meet 2015 production guidance
Conference call to be held Monday August 17, 2015 at 10:00 AM Eastern Daylight Time (All amounts expressed in US Dollars unless otherwise noted)
Sierra Metals Inc. (TSX:SMT)(BVL:SMT) (“Sierra Metals” or the “Company”) today reported revenue of $45.9 million and adjusted EBITDA of $18.3 million on record throughput of 483,374 tonnes and record silver equivalent production of 3.1 million ounces, for Q2 2015. The Company continued to maintain its status as a low-cost producer by maintaining its low operating costs again this quarter. Mark Brennan, President and CEO of Sierra Metals, stated: “Despite the pervasive decline in commodity prices, strong metal production and operating cost control contributed to another strong quarter of cash flow generation and financial performance for the Company.” He continued, “We are focused on unlocking the significant economic potential that we believe to be available at all three of our producing Mines while continuing to deliver solid production and financial returns for our shareholders during the remainder of 2015 and beyond.”