RCKS Talk

Wednesday, October 04, 2017 Derek Macpherson

Sierra Drill Tests Near-Mine Targets at Bolivar

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Sierra Metals Inc. (TSX:SMT, BVL:SMT, NYSE:SMTS) reported initial drill results following up on targets identified from the Titan 24 geophysical survey completed at Bolivar in Mexico. 22 high priority targets were identified during the survey, of which 8 are currently being drill tested. Results from the four holes intercepted high-grade copper structures in three zones, returning 31 g/t Ag, 1.55% Cu, 1.95% Zn 0.38 g/t Au over 25m (averaged-DB17B602), 34 g/t Ag, 1.97% Cu, 0.91% Zn 0.34 g/t Au over 29m (averaged-DB17B613), 32 g/t Ag, 1.04% Cu, 0.20% Zn 0.10 g/t Au over 33m (DB17B583) and 37 g/t Ag, 2.05% Cu, 0.03% Zn 1.79 g/t Au over 13m (DB17B585). Results from additional drilling of these structures, which were previously thought not to be mineralized, will further help to understand its potential impact on Bolivar for Sierra. We continue to anticipate a strong 2017 from Sierra as operations continue to improve and exploration advances, all of which should further enhance the company’s value. read more


Monday, October 02, 2017 Derek Macpherson

Sierra Intersects High Grades at Cuye

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Sierra Metals Inc. (TSX:SMT, BVL:SMT, NYSE:SMTS) reported high grade zinc and copper results from drilling targeting the Cuye zone within the Central Mine area of the Yauricocha Mine. Result were highlighted by holes CUY 17-17-01 and CUY 17-17-04 grading 39 g/t Ag, 0.18% Pb, 0.35% Cu, 21.66% Zn and 0.33 g/t Au over 6m and 47 g/t Ag, 1.63% Pb, 0.49% Cu, 10.12% Zn and 0.62 g/t Au over 9.5m, respectively. Importantly, the company notes results suggest the Cuye and Catas zones (Figure 1) connect at depth, which with further exploration could expand the zone as it remains open at depth. These results were not included in the recent resource update for Yauricocha. We anticipate a strong 2017 from Sierra as operations continue to improve and exploration advances, all of which should further enhance the company’s value.  read more


Friday, September 29, 2017 Derek Macpherson

Sierra Reports Increased Resources at Yauricocha

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Sierra Metals Inc. (TSX:SMT, BVL:SMT,NYSE:SMTS) reported an updated resource estimate for Yauricocha, which included 80,000m of drilling and 10,000m of mine exploration development from Mina Central, Esperanza, Cachi-Cachi, Escondida and Cuye-Mascota. The update resulted in a significant increase in tonnage 71% (Measured and Indicated plus Inferred). Grades were roughly unchanged, with the exception of an 18% increase in overall copper grade. As a result contained metal increased significantly for all metals, notably copper, driven by recent discoveries of copper rich zones. Importantly, results benefitted from increased zinc and copper prices, up 33% and 14% as compared to the last update in 2016. Head grades for both metals increased, 18% for copper and 7% for zinc including although decreased for lead (7%), silver (2%) and gold (9%) (Figure 1). We anticipate a strong 2017 from Sierra as operations continue to improve and exploration advances, all of which should further enhance the company’s value.  read more


Wednesday, September 06, 2017 Derek Macpherson

Sierra Results Add Higher Grades Near Bolivar

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Sierra Metals Inc. (TSX:SMT, BVL:SMT) reported results from drilling completed at the Bolivar West zone, adjacent to current operations at the Bolivar mine. Results on average graded 2.55% Cu, which should help increase head grades at the mine in the near-term. The 12,300m (28 holes) program is expected to be included in an updated resource for the mine (Q4 2017), which focused on increasing grades and defining additional resources. The company expects to continue drilling into 2018 at all of its operations. We anticipate a strong 2017 from Sierra as operations continue to improve and exploration advances, all of which should further enhance the company’s value. read more


Tuesday, August 29, 2017 Derek Macpherson

SMT Exploration Adds Near-Term Value at Cusi

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Sierra Metals Inc. (TSX:SMT, BVL:SMT, NYSE:SMTS) has reported additional results from drilling at the Santa Rosa de Lima zone adjacent to current operations at its Cusi mine, in Mexico. The phase two expanded program covered 14,000m in 22 holes, which along with other recent drilling (a total of 29,500m) will be used in an updated mineral resource estimate for the mine by year end. Drilling has intersected high grade silver as highlighted by hole DC17B743 grading 401 g/t Ag, 0.13% Pb, 0.19% Zn, 0.20 g/t Au over 4.5m and hole DC17B750 grading 465 g/t Ag, 0.54% Pb, 0.33% Zn over 13.8m. The zone’s proximity to current operations suggests this zone could benefit the mine in the near term. To note, additional exploration opportunity still exists at the Santa Rosa de Lima zone and further potential for growth exists at other zones on the property. Sierra continues to achieve exploration success and deliver improvements at its operating mines, we anticipate a strong 2017 from Sierra which should further enhance the company’s value. read more


Sunday, August 27, 2017 Derek Macpherson

Sierra Identifies Near-Term Potential at Cachi-Cachi

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Sierra Metals Inc. (TSX:SMT, BVL:SMT) reported results from brownfield exploration targeting the Escondida zone within the Cachi-Cachi Mine and the northern extension of the Esperanza orebody. Results identified a new discovery intersecting high grade silver, zinc and lead over good widths, as demonstrated by hole ESC-17-01 returning 94 g/t Ag, 3.41% Pb, 0.01% Cu, 7.91% Zn and 0.23 g/t Au over 7.6m as well as hole ESC-17-05 returning 104 g/t Ag, 5.83% Pb, 0.09% Cu, 10.59% Zn and 0.71 g/t Au over 3.8m. The new discovery (+300m in strike) highlights the possibility for further discoveries between Esperanza and Cachi-Cachi that could be added to production. The company expects to mine the Escondida zone in 2018 and remains focused on exploration. We anticipate a strong 2017 from Sierra as operations continue to improve and exploration advances, all of which should further enhance the company’s value. read more


Wednesday, August 16, 2017 Derek Macpherson

Sierra Maintains Positive Financials in Q2

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Sierra Metals Inc. (TSX:SMT, BVL:SMT) reported Q2 consolidated financials results, which have shown improvements YoY, however as compared to the previous quarter (Q1 2017) have been affected by reduced Q2 production. Revenue increased YoY by 30% however, due to weaker production results QoQ revenues decreased by 11%. In addition, costs increased; cash costs by 17% and AISC by 29% during the quarter as compared to Q1 2017; however, ongoing optimization should see these costs decrease as improvements are realized. Although decreased on a QoQ basis (31%), adjusted EBITDA remains positive for the quarter at US$17.6 million, especially compared to Q2 2016 of US$5.3 million. Importantly, exploration remains a priority for the company’s three operations which has the opportunity to add to the production profile in the near term, results are expected to be reflected in updated technical reports in Q4 2017. We anticipate a strong 2017 from Sierra as operations continue to improve and exploration advances, all of which should further enhance the company’s value. read more


Tuesday, August 01, 2017 Derek Macpherson

Sierra Reports Strong Back to Back Quarters from Yauricocha

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Sierra Metals Inc. (TSX:SMT, BVL:SMT) reported Q2 2017 financial results from its Yauricocha mine in Peru (Sociedad Minera Corona S.A. - 81.8% owned subsidiary). Unadjusted for ownership interest, revenue for the quarter was US$38.5 million and although a slight decrease QoQ (1.7%), a 62% increase YoY. Q2 marks the second highest quarter of production in Yauricocha’s history, the first being Q1 2017. YoY cash cost per AgEq oz payable decreased by 12%, while AISC per AgEq payable oz decreased by 9%, however compared to Q1 2017 costs increased; cash cost per AgEq oz payable by 15% and AISC per AgEq payable oz by 27%. The increase in costs was a result of increased Capex as well as exploration expenses and the cost of infrastructure improvements, all of which should have longer term value. The company is expecting to complete updated technical report in Q4 2017. Yauricocha remains a key aspect of the company’s operations, ongoing exploration success is important to enhancing the company’s value. read more


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