Jorge A. Ganoza, President and CEO, commented, “Our results in the quarter were marked by lower production at the San Jose Mine, negative metal price adjustments at the end of March, and an unusually high income tax provision related to the devaluation of the Mexican peso. These factors compounded to reflect an adjusted net loss of $2.2 million.”
The Report dated May 8, 2020, with an effective date of December 31, 2019 is entitled “Independent Technical Report on Resources and Reserves, Bolivar Mine, Mexico”. The Report was prepared for Sierra Metals by SRK Consulting (Canada) Inc. There are no material differences in the Report from those results disclosed in the Company’s press release dated March 31, 2020.
“We will be holding a virtual annual meeting and will have a presentation on our response to COVID-19, key investment considerations, and a deep dive into the silver and gold markets.”
La firma, con sede en Vancouver, alega que la autoridad tributaria mexicana “exhibió un total desprecio por las disposiciones aplicables de tres tratados separados de doble imposición” que son relevantes para la compañía y sus unidades mexicanas, incluido Primero Mining, adquirido hace dos años.
Net proceeds of the Offering, if any, together with the Company’s current cash resources and free cash flow, will be used to advance its Terronera project and for working capital purposes.
Esta industria representa un elemento importante para la economía nacional, por lo cual su reactivación no debe ir más allá del 17 de mayo o los daños económicos serán irreversibles.
The Offering is expected to close on or about May 20, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the NYSE American.
“We are continuing as planned to mine profitable ounces and focus on strict cost controls. Despite the lower than planned gold and silver grades during this quarter, new exploration has discovered better grades that we expect to reach by drifting in the next quarters,” reported Salvador Garcia, Chief Operating Officer of the company.
“As with Island Gold, operations at Mulatos will be ramped up in a safe manner. To date, we have not had any confirmed cases of COVID-19 among any of our employees or contractors. We continue to follow strict protocols across our operations with our foremost priority being to protect the health and safety of our employees, their families, and our local communities,” said John A. McCluskey, President and Chief Executive Officer.
Millrock President & CEO commented: “The core drilled in the first two holes of the program demonstrated a Pogo-like system with an abundance of alteration and sulfide mineralization indicating a robust hydrothermal environment.”
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