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SurfStitch launches its own app to enrich customer experience

gbafNews28

Australian coastal lifestyle brand expands their digital channels through partnership with Tryzens and Poq.

LONDON, Nov. 26, 2020 /PRNewswire/ — SurfStitch, the Australian based coastal lifestyle platform, has launched their own brand-new app in partnership with digital commerce agency Tryzens and appCommerce platform Poq to enhance the experience for their loyal following of customers and support their digital flagship. The new app provides an intuitive experience for customers that is uniquely SurfStitch while also leveraging new features such as shoppable stories and rich content experiences to provide an additional channel for customers to shop and connect with the brand, and all just in time for holiday trade.

 

SurfStitch launches its own app to enrich customer experience through partnership with Tryzens and Poq.

 

Since its inception as a back-garden business located in a garage, SurfStitch has grown to become a top-tier ecommerce platform that is respected in the market and has a following in excess of two million customers. Over the years the business has increased its partnerships to include over 300 different brands, such as Vans, Converse and Stussy, all providing a different, unique story to reflect its customers' overarching passion for a coastal lifestyle. Its success has allowed it to develop a strong customer base located across Australia, New Zealand and in international markets.

To develop the new app, SurfStitch selected the Poq appCommerce platform because of its strong market credentials and rich, native functionality that is used by many well-known brands across the world to engage the customer. As SurfStitch's digital commerce partner, Tryzens delivered the design, build and launch of the App working alongside the talented team at SurfStitch. Tryzens were a logical fit to deliver the project because of their work in supporting SurfStitch's eCommerce platform and because of their role as a Global Solution Partner for Poq. Tryzens Live Operations team also provide 24/7 support to ensure the ecommerce and AppCommerce platforms are available and performing well, maintaining and enhancing customer experience based around a strategic roadmap.

Justin Hillberg, Managing Director at SurfStitch comments:

“For us, the launch of our App is all about improving the range of channels that we are available on to meet our customers and engage with them wherever they like to be active. Apps offer a different opportunity to communicate and build rapport, improving relevance for our customers by offering unique experiences that in turn help build loyalty and lifetime value. As a pureplay brand, we're always looking for new ways to evolve our online experience and drive engagement deeper. With digital being the only business model able to trade effectively around the clock, we felt like now was the right time to launch an app and capitalise on the huge online growth that has been seen this year with customers flocking to online channels. For us, working with Tryzens and Poq was a perfect fit because of their experience working with some of the world's most well-known retailers and proven ability to deliver.”

Andy Burton, CEO of Tryzens added: “SurfStitch is such an iconic brand and business whose values and spirit add tangible benefit to the Brands they take to market.  Collaborating closely with the team at SurfStitch, and through our partnership with Poq, we are delighted to have been able to bring their vision to life in adding a new and differentiated channel to delight their customers with curated content and new levels of interaction that complements their eCommerce platform. SurfStitch is rightly recognised as a leader in digital commerce and we are proud to play our part in helping keep the innovation at the forefront of their business model and ensuring the underpinning technologies are operating around the clock.”

Helen Slaven, Chief Revenue Officer at Poq says: “It has been a delight to partner with Tryzens to support SurfStitch in the launch of their app as an exciting new digital channel to market for their customers to enhance and extend to their current engagement and shopping options. We look forward to the app becoming a vital and highly performant part of the digital experience for SurfStitch and their customers.”

About SurfStitch

We're all about those feel-good, Saturday state of mind moments and use our selection of over 300 brands and their stories to provide you with the goods that best reflect your unique identity. Surf may be in our name, though we have grown to embrace the cultures that surround it. Be it fashion, travel, art, music or beyond, we stay ahead of the curve with the latest trends to help connect you with the same positive, passionate mindsets our brand stands by. SurfStitch is proud to be part of the Alquemie Group, a new portfolio of leading premium brands.

About Tryzens

Tryzens is an international digital commerce consultancy that take a holistic approach to growing businesses based on digital-first principles. Our team of trading specialists, strategists and technology experts are passionate and focused on identifying and  implementing solutions that optimise performance across all channels to delight customers no matter how or where customers choose to buy.

With offices in London, Melbourne, Sydney, Sofia and Trivandrum, we have partnered with some of the world's most successful retailers and brand owners including Cotton On Group, Sweaty Betty, Liberty London, T.M.Lewin, R.M Williams and Treasury Wine Estates to provide beginning to end services that help grow businesses and provide the best customer experiences.

https://tryzens.com/

Photo: https://mma.prnewswire.com/media/1343447/SurfStitch.jpg

Press contacts:
Tryzens
Holly Mercer / Avinash Nandra
Spreckley
T: +44 (0)207 388 9988
E: [email protected]

SurfStitch:
Hannah Devereux:
THEY Agency
T: +61 (0) 422 003 873
E. [email protected] 

News

Sierra Metals Reports 2020 Production Results and Announces Strong 2021 Production and EBITDA Growth Guidance

gbafNews28

Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (Sierra Metals or the Company) is pleased to report fourth quarter 2020 and full year 2020 production results, as well as 2021 guidance for production, cost, EBITDA and capex.

Results are from Sierra Metals three underground mines in Latin America: The Yauricocha polymetallic mine in Peru, and the Bolivar copper and Cusi silver mines in Mexico.

2020 Consolidated Production Highlights

  • Copper production of 44.3 million pounds; an 11% increase from 2019
  • Silver production of 3.5 million ounces; a 3% increase from 2019
  • Gold production of 13,771 ounces; an 18% increase from 2019
  • Zinc production of 81.9 million pounds; a 1% increase from 2019
  • Lead production of 33.0 million pounds; a 7% decrease from 2019
  • Total of 2.8 million ore tonnes processed; a 6% increase from 2019
  • Consolidated copper equivalent production of 118.2 million pounds; an increase of 6% from 2019, which is within the upper end of revised guidance

The Company achieved annual throughput that was 6% higher than the 2019 annual throughput despite the various COVID-19 related operational challenges including government-mandated shutdowns in the second quarter of the year. Annual 2020 consolidated production of silver, copper, zinc, and gold increased 3%, 11%, 1%, and 18% respectively, while lead production decreased by 7% compared to 2019.

Fourth Quarter 2020 Production Highlights

  • Copper production of 10.6 million pounds; a 6% decrease from Q4 2019
  • Silver production of 0.9 million ounces; a 6% increase from Q4 2019
  • Gold production of 3,363 ounces; a 7% decrease from Q4 2019
  • Zinc production of 21.6 million pounds; a 16% decrease from Q4 2019
  • Lead production of 7.6 million pounds; a 23% decrease from Q4 2019

Despite the continued COVID-19 related operational challenges Q4 2020, consolidated quarterly ore throughput of 778,236 tonnes increased by 6% over Q4 2019, as higher throughput from the Mexican operations was partially offset by a 3% decline in Q4 2020 throughput from the Yauricocha mine.

Copper equivalent production at Yauricocha declined 20% during Q4 2020 due to a 3% decrease in quarterly throughput combined with lower head grades and recoveries. At Bolivar, 10% higher ore throughput and higher recoveries were partially offset by lower head grades resulting in Q4 2020 copper equivalent pounds production that was in line with Q4 2019. Q4 2020 silver equivalent production at the Cusi mine was 83% higher than Q4 2019 due to 35% higher throughput realized, in addition to higher silver and gold head grades and 65% higher gold recoveries as compared to Q4 2019.

Luis Marchese, CEO of Sierra Metals, commented: We continue to put the health and safety of our employees and communities first. Despite the impacts of COVID-19 on our operations, I am very pleased with the Companys strong production results. The hard work and efficiency gains of our employees resulted in a solid year of production in 2020. The Company performed within the upper end of the range for its consolidated copper equivalent production guidance that was issued in a press release on August 13, 2020.

The Company has been able to continue ramping up production at the Bolivar Mine and Cusi Mines despite a high-level of COVID-19 case counts encountered during our safety screens in Q4 2020. Both the Bolivar and Cusi Mines saw increases in throughput as compared to the same quarter last year. Yauricochas throughput was slightly lower in Q4 2020 due to similar COVID-19 issues resulting from lower active employee headcount levels and backlog operational issues.

2020 wrapped up on a positive note for the Company despite the challenges faced. We saw mineral resource increases at all mines. We completed and issued preliminary economic assessments (PEA) for all three mines boasting positive economics and supportive of potential expansion plans at all three mines. The price environment improved significantly for all metals produced by the company, highlighting the strong positioning of Sierras expanded and diversified portfolio of mining assets for the future.

He concluded, “2021 will be an important year for the Company as we expect to receive the permits to increase Yauricochas production capacity by 20% in the second quarter. Furthermore, we expect to complete Pre-Feasibility Studies across all three mines which are expected to give us further insight into, and support, our growth plans. It is an exciting time for the Company as we continue with strong brownfield and greenfield exploration programs to support future mineral resource and production growth. We continue to focus on improving and modernizing our mine operations and increasing operating efficiencies with a focus on improving productivity and reducing costs.

Consolidated Production Results

 
Consolidated Production Quarter Ended Year Ended
December 31, 2020 December 31, 2019 % Var. December 31, 2020 December 31, 2019 % Var.
 
Tonnes processed

778,236

731,500

6%

2,828,877

2,671,853

6%

Daily throughput (1)

8,894

8,360

6%

8,083

7,634

6%

 

 

 

 

Silver production (000 oz)

922

871

6%

3,465

3,375

3%

Copper production (000 lb)

10,626

11,308

-6%

44,262

39,889

11%

Lead production (000 lb)

7,630

9,924

-23%

32,972

35,454

-7%

Zinc production (000 lb)

21,612

25,590

-16%

81,868

81,083

1%

Gold Production (oz)

3,363

3,615

-7%

13,771

11,632

18%

 

 

 

 

Silver equivalent ounces (000’s)(2)

3,996

5,016

-20%

16,097

18,721

-14%

Copper equivalent pounds (000’s)(2)

29,267

32,510

-10%

118,214

111,678

6%

Zinc equivalent pounds (000’s)(2)

79,521

81,919

-3%

321,638

267,658

20%

(1) Daily throughput calculated using 350 operating days for the year.

(2) Silver equivalent ounces and copper and zinc equivalent pounds for Q4 2020 were calculated using the following realized prices: $24.30/oz Ag, $3.32/lb Cu, $1.22/lb Zn, $0.89/lb Pb, $1,859/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for Q4 2019 were calculated using the following realized prices: $17.42/oz Ag, $2.69/lb Cu, $1.07/lb Zn, $0.92/lb Pb, $1,506/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for full year 2020 were calculated using the following realized prices: $20.59/oz Ag, $2.80/lb Cu, $1.03/lb Zn, $0.83/lb Pb, $1,771/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for full year 2019 were calculated using the following realized prices: $16.29/oz Ag, $2.73/lb Cu, $/1.14lb Zn, $0.91/lb Pb, $1,404/oz Au.

Yauricocha Mine, Peru

The Yauricocha mine production decreased by 3% during Q4 2020 as compared to Q4 2019, as a result of operational downtimes and minor production disruptions during the quarter. Copper and zinc equivalent metal production in Q4 2020 decreased by 20% and 14% respectively due to lower throughput and lower head grades, as availability of manpower continued to impact mine development, leading to lower ore contribution from the high-grade cuerpos chicos zones.

Annual throughput of 1,117,860 was in line with the 2019 annual production, despite the impact of COVID-19 related shutdowns faced in Q2 2020 and other COVID-19 related challenges throughout the year. Year over year copper equivalent production decreased 4% in 2020 compared to the prior year, while zinc equivalent production was 9% higher than the same period in 2019. During 2020, the annual production of zinc and gold increased 1% and 3% respectively, while copper and lead annual production decreased by 2% and 9%. Silver production for 2020 was in line with the 2019 annual silver production.

A summary of production from the Yauricocha Mine for Q4 2020 has been provided below:

 
Yauricocha Production Quarter Ended Year Ended
December 31, 2020 December 31, 2019 % Var. December 31, 2020 December 31, 2019 % Var.
 
Tonnes processed

311,946

321,701

-3%

1,117,860

1,116,919

0%

Daily throughput(1)

3,565

3,677

-3%

3,194

3,191

0%

 

 

 

 

Silver grade (g/t)

53.74

60.14

-11%

61.55

63.24

-3%

Copper grade

0.95%

1.05%

-10%

1.08%

1.06%

2%

Lead grade

1.15%

1.55%

-26%

1.45%

1.57%

-8%

Zinc grade

3.59%

4.05%

-11%

3.77%

3.72%

1%

Gold Grade (g/t)

0.57

0.60

-5%

0.61

0.59

3%

 

 

Silver recovery

79.80%

79.75%

0%

81.53%

79.20%

3%

Copper recovery

72.69%

75.49%

-4%

74.20%

77.05%

-4%

Lead recovery

88.82%

88.39%

0%

88.63%

89.33%

-1%

Zinc recovery

87.62%

89.11%

-2%

88.13%

88.52%

0%

Gold Recovery

19.34%

21.22%

-9%

19.72%

19.74%

0%

 

 

 

 

Silver production (000 oz)

430

496

-13%

1,803

1,799

0%

Copper production (000 lb)

4,759

5,648

-16%

19,726

20,059

-2%

Lead production (000 lb)

7,040

9,691

-27%

31,605

34,548

-9%

Zinc production (000 lb)

21,612

25,590

-16%

81,868

81,083

1%

Gold Production (oz)

1,112

1,322

-16%

4,292

4,165

3%

 

 

 

 

Copper equivalent pounds (000’s)(2)

18,373

23,058

-20%

75,079

78,242

-4%

Zinc equivalent pounds (000’s)(2)

49,922

58,102

-14%

204,274

187,672

9%

(1) Daily throughput calculated using 350 operating days for the year.

(2) Silver equivalent ounces and copper and zinc equivalent pounds for Q4 2020 were calculated using the following realized prices: $24.30/oz Ag, $3.32/lb Cu, $1.22/lb Zn, $0.89/lb Pb, $1,859/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for Q4 2019 were calculated using the following realized prices: $17.42/oz Ag, $2.69/lb Cu, $1.07/lb Zn, $0.92/lb Pb, $1,506/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for full year 2020 were calculated using the following realized prices: $20.59/oz Ag, $2.80/lb Cu, $1.03/lb Zn, $0.83/lb Pb, $1,771/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for full year 2019 were calculated using the following realized prices: $16.29/oz Ag, $2.73/lb Cu, $/1.14lb Zn, $0.91/lb Pb, $1,404/oz Au.

Bolivar Mine, Mexico

Q4 2020 throughput of 383,607 tonnes was 10% higher than Q4 2019 production, despite the lack of manpower resulting from positive cases of the COVID-19 virus at site identified during our health safety screens. Operational challenges, emanating from the COVID-19 pandemic, and technical difficulties at the mine, resulted in grades being negatively impacted during Q4 2020, as compared to the same quarter of the prior year.

The Bolivar mine achieved annual throughput of 1,480,588 tonnes, or a 17% increase over the 2019 annual throughput largely attributable to the plant expansion at the end of 2019. Copper equivalent production for Q4 2020 was in line with the same quarter of the prior year, but 31% higher for the full year 2020 as compared to full year 2019. Annual copper, silver and gold production were 24%, 21% and 27% higher respectively as compared to 2019 production.

A summary of production for the Bolivar Mine for Q4 2020 has been provided below:

 
Bolivar Production Quarter Ended Year Ended
December 31, 2020 December 31, 2019 % Var. December 31, 2020 December 31, 2019 % Var.
 
Tonnes processed (t)

383,607

348,434

10%

1,480,588

1,269,698

17%

Daily throughput (1)

4,384

3,982

10%

4,230

3,628

17%

 

 

 

 

Copper grade

0.79%

0.87%

-9%

0.87%

0.85%

2%

Silver grade (g/t)

14.50

20.98

-31%

19.61

19.81

-1%

Gold grade (g/t)

0.25

0.32

-22%

0.29

0.27

7%

 

 

Copper recovery

88.21%

84.76%

4%

86.76%

83.02%

5%

Silver recovery

83.44%

78.69%

6%

82.73%

79.18%

4%

Gold recovery

64.41%

62.28%

3%

64.07%

63.54%

1%

 

 

 

 

Copper production (000 lb)

5,867

5,660

4%

24,536

19,830

24%

Silver production (000 oz)

149

185

-19%

772

640

21%

Gold production (oz)

2,017

2,216

-9%

8,860

6,975

27%

 

 

 

 

Copper equivalent pounds (000’s)(2)

8,091

8,099

0%

35,804

27,236

31%

(1) Daily throughput calculated using 350 operating days for the year.

(2) Silver equivalent ounces and copper and zinc equivalent pounds for Q4 2020 were calculated using the following realized prices: $24.30/oz Ag, $3.32/lb Cu, $1.22/lb Zn, $0.89/lb Pb, $1,859/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for Q4 2019 were calculated using the following realized prices: $17.42/oz Ag, $2.69/lb Cu, $1.07/lb Zn, $0.92/lb Pb, $1,506/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for full year 2020 were calculated using the following realized prices: $20.59/oz Ag, $2.80/lb Cu, $1.03/lb Zn, $0.83/lb Pb, $1,771/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for full year 2019 were calculated using the following realized prices: $16.29/oz Ag, $2.73/lb Cu, $/1.14lb Zn, $0.91/lb Pb, $1,404/oz Au.

Cusi Mine, Mexico

Q4 2020 quarterly throughput at the Cusi mine was 82,683 tonnes or 35% higher than the Q4 2019 throughput. Higher silver and gold head grades during Q4 2020 resulted from mining the recently discovered high-grade Northeast Southwest vein system.

Annual production at the Cusi Mine was 230,429 tonnes in 2020, which was 19% lower than 2019, as the mine remained in care and maintenance throughout Q2 2020 and part of Q3 2020. Despite the 83% increase in silver equivalent production during Q4 2020, annual silver equivalent production remained 3% below the 2019 annual production, due to the afore-mentioned care and maintenance period. Compared to 2019, silver production decreased 5% to 0.9 million ounces, gold production increased 26% to 619 ounces and lead production increased 51% to 1.4 million pounds. Q4 2020 production for silver, gold and lead was 81%, 204% and 153% higher respectively than the Q4 2019 production.

A summary of production for the Cusi Mine for Q4 2020 has been provided below:

 
Cusi Production Quarter Ended Year Ended
December 31, 2020 December 31, 2019 % Var. December 31, 2020 December 31, 2019 % Var.
 
Tonnes processed (t)

82,683

61,365

35%

230,429

285,236

-19%

Daily throughput(1)

945

701

35%

658

815

-19%

 

 

 

 

Silver grade (g/t)

160.62

120.51

33%

149.62

129.05

16%

Gold grade (g/t)

0.19

0.14

36%

0.18

0.15

20%

Lead grade

0.28%

0.23%

22%

0.29%

19.00%

-98%

 

 

Silver recovery (flotation)

80.37%

79.82%

1%

80.32%

79.10%

2%

Gold recovery (lixiviation)

46.73%

28.36%

65%

45.75%

36.14%

27%

Lead recovery

82.79%

74.00%

12%

82.40%

75.40%

9%

 

 

 

 

Silver production (000 oz)

343

190

81%

890

936

-5%

Gold production (oz)

234

77

204%

619

492

26%

Lead production (000 lb)

590

233

153%

1,367

906

51%

 

 

 

 

Silver equivalent ounces (000’s)(2)

383

209

83%

998

1,029

-3%

(1) Daily throughput calculated using 350 operating days for the year. Considering the care and maintenance period, Cusi operated for 240 days during the year, resulting in actual daily throughput of 960 tonnes per day.

(2) Silver equivalent ounces and copper and zinc equivalent pounds for Q4 2020 were calculated using the following realized prices: $24.30/oz Ag, $3.32/lb Cu, $1.22/lb Zn, $0.89/lb Pb, $1,859/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for Q4 2019 were calculated using the following realized prices: $17.42/oz Ag, $2.69/lb Cu, $1.07/lb Zn, $0.92/lb Pb, $1,506/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for full year 2020 were calculated using the following realized prices: $20.59/oz Ag, $2.80/lb Cu, $1.03/lb Zn, $0.83/lb Pb, $1,771/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for full year 2019 were calculated using the following realized prices: $16.29/oz Ag, $2.73/lb Cu, $/1.14lb Zn, $0.91/lb Pb, $1,404/oz Au.

2021 Guidance

Luis Marchese, CEO of Sierra Metals commented, The company is providing a strong production, lower cost and substantial EBITDA growth guidance for 2021. Management forecasts higher throughput and metals production for the Company. More importantly we expect continued low cash costs and reduced all in costs as we ramp up production rates. This should continue to drive efficiency improvements, which should enhance even more our global cost competitive position in the copper industry, as we have been recently illustrating in our corporate presentations. Finally, with the combination of higher production, lower costs and higher metal prices expected by consensus analyst we are forecasting much stronger EBITDA and cash flows. This should allow us to complete our capital expenditures budget which supports improvement, strong further growth and value creation for all three mines.

Production Guidance

The Company anticipates that 2021 copper equivalent production will range between 130.0 to 141.0 million pounds; or silver equivalent production will range between 16.1 to 17.5 million ounces. The increase in 2021 guidance for copper pounds and silver ounces compared to the actual 2020 production is due to a 20% throughput and recovery increases planned at Yauricocha as well as increased daily throughput rates at Bolivar and Cusi.

A table summarizing 2021 production guidance has been provided below:

 
2021 Guidance

2020

Low High Actual
 
Silver (000 oz)

4,298

4,628

3,466

Copper (000 lbs)

44,090

48,380

44,262

Lead (000 lbs)

31,871

34,322

32,971

Zinc (000 lbs)

101,409

109,240

81,868

Gold (oz)

10,691

11,720

13,771

Copper equivalent pounds (000’s)

129,988

141,018

118,214

Silver equivalent ounces (000’s)

16,126

17,494

16,097

(1) 2021 metal equivalent guidance was calculated using the following prices: $25.15/oz Ag, $3.12/lb Cu, $1.09/lb Zn, $0.90/lb Pb, $1,936/oz Au. 2020 metal equivalent guidance was calculated using the following prices: $20.59/oz Ag, $2.80/lb Cu, $1.03/lb Zn, $0.83/lb Pb and $1,771/oz Au.

2021 Cost Guidance

A mine by mine breakdown of 2021 production guidance, cash costs and all-in sustaining costs (AISC) are included in the table below. All costs are in USD. Cash costs and AISC guidance is shown per copper equivalent payable pound at Yauricocha and Bolivar, and silver equivalent payable ounce at Cusi.

 
Equivalent Production Cash costs range AISC(2) range
Mine Range (1) per CuEqLb or AgEqOz per CuEqLb or AgEqOz
 
Yauricocha Copper Eq Lbs (‘000) 79,300 – 85,600 $0.96 – $1.03 $1.89 – $1.98
Bolivar Copper Eq Lbs (‘000) 37,500 – 41,500 $1.00 – $1.07 $1.92 – $2.05
Cusi Silver Eq Oz (‘000) 1,650 – 1,725 $13.37 – $14.08 $21.43 – $22.46

(1) 2021 metal equivalent guidance was calculated using the following prices: $25.15/oz Ag, $3.12/lb Cu, $1.09/lb Zn, $0.90/lb Pb and $1,936/oz Au.

(2) AISC includes treatment and refining charges, selling costs, G&A costs and sustaining capital expenditure.

The 2021 cost guidance includes expenditure related to the COVID-19 testing and other measures to control the spread of the pandemic such as quarantine accommodations for employees and contractors, and sanitization and cleaning supplies.

2021 EBITDA Guidance

Consolidated EBITDA Guidance including corporate expenses, at consensus prices(1), is expected to be between $155.0 million and $170.0 million, which is broken down as follows:

 

EBITDA Range ($’000)

Mine

Low

High

 

 

Yauricocha

93,400

100,200

Bolivar

47,200

54,500

Cusi

19,100

20,000

Corporate

(4,700)

(4,700)

Total

155,000

170,000

At prevalent spot prices(2), consolidated EBITDA is expected to range between $170.0 million and $185.0 million.

(1) Analyst consensus prices at the end of 2020 were: $25.15/oz Ag, $3.12/lb Cu, $1.09/lb Zn, $0.90/lb Pb, $1,936/oz Au.

(2) Spot prices used to estimate EBITDA: $25.15/oz Ag, $3.12/lb Cu, $1.09/lb Zn, $0.90/lb Pb, $1,936/oz Au.

2021 Capital Expenditures

In 2021, the Company plans to invest a total of up to $78.0 million on capital expenditures of which approximately $10.0 million has been carried over from the 2020 Capex Budget for carry forward projects. The $78.0 million capital expenditure budget includes $37.0 million for sustaining capital requirements and $41.0 million for expansion, growth projects and exploration expenses. These capital expenditures will allow Sierra Metals to continue to significantly grow our mineral reserves and resources, complete the development work required in operations to increase production in the future. These capital expenditure projects are expected to result in increased cash flows, and lower cash costs. We expect these capital expenditure programs will be funded through the generation of operating cash flows.

Management continues to review metal prices, and value enhancing opportunities, and retains the option to adjust the 2021 capital expenditure plan should metal prices experience any dramatic changes within the year.

A breakdown by mine of the throughput and planned capital investments is shown below:

 
Amounts in $M
Sustaining Growth Total
 
Yauricocha

18

21

39

Bolivar

13

9

22

Cusi

6

8

14

Greenfield Exploration

3

3

Total Capital Expenditure

37

41

78

Quality Control

All technical data contained in this news release has been reviewed and approved by:

Americo Zuzunaga, FAusIMM CP (Mining Engineer) and Vice President of Corporate Planning is a Qualified Person under National Instrument 43-101 “ Standards of Disclosure for Mineral Projects.

Augusto Chung, FAusIMM CP (Metallurgist) and Vice President of Metallurgy and Projects to Sierra Metals is a Qualified Person under National Instrument 43-101 “ Standards of Disclosure for Mineral Projects.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company focused on the production and development of precious and base metals from its polymetallic Yauricocha Mine in Peru, and Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.

The Companys Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol SMT and on the NYSE American Exchange under the symbol SMTS.

For further information regarding Sierra Metals, please visit www.sierrametals.com.

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Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc

Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws (collectively, “forward-looking information“). Forward-looking information includes, but is not limited to, statements with respect to the date of the 2020 Shareholders’ Meeting and the anticipated filing of the Compensation Disclosure. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.

Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading “Risk Factors” in the Company’s annual information form dated March 30, 2020 for its fiscal year ended December 31, 2019 and other risks identified in the Company’s filings with Canadian securities regulators and the United States Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.

The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company’s forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.

Mike McAllister

Vice President, Investor Relations

Sierra Metals Inc.

Tel: +1 (416) 366-7777

Email: [email protected]

Luis Marchese

CEO

Sierra Metals Inc.

Tel: +1 (416) 366-7777

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Kofax Power PDF Wins 2021 TrustRadius Awards for Best Feature Set and Best Customer Support

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Kofax, a leading supplier of Intelligent Automation software for digital workflow transformation, today announces TrustRadius has recognized Kofax Power PDFTM with its 2021 Best Feature Set and Best Customer Support Awards. These awards highlight companies with outstanding feature sets and customer support that have gone above and beyond to delight their users. Kofax finished in first place in both categories.

To win the Feature Set and Customer Support Awards, winners had to rank in the top three positions of their category in terms of what percentage of positive responses they earned this year. Additional vetting via textual review analysis was also performed by the TrustRadius research team.

These honors are particularly meaningful because theyre based on reviews from users of Kofax Power PDF and its extensive capabilities every day. Giving customers the best set of features alongside world-class support has always been a top priority for Kofax, says Kathleen Delaney, Chief Marketing Officer at Kofax. Were committed to continued product innovation and will keep giving our customers the outstanding support they deserve.

Kofax Power PDF 4 provides powerful PDF capabilities built for business users. Its designed to meet simple-to-complex needs with a single tool integrating virtually any enterprise document management system for collaboration and faster workflows, including integrations with Kofax SignDoc for e-signature capabilities. Additionally, Kofax Power PDF users gain improved searching and redaction accuracy with Kofaxs award-winning optical character recognition (OCR) technology.

Lets face it: not all products are created equal, and neither are all technology buyers, says Vinay Bhagat, Chief Executive Officer at TrustRadius. Thats why at TrustRadius were always looking for new ways to help buyers make great decisions. By highlighting products that have first-class feature sets, we can help more buyers navigate to products that will meet their unique needs.

Especially during this difficult year, software companies and tech buyers alike are facing new challenges, says Megan Headley, Vice President of Research at TrustRadius. The Best Feature Set and Customer Support Awards help both parties address those challenges through the power of trusted reviews on TrustRadius.”

Last August, Kofax released Power PDF 4, the latest edition of the No. 1 global alternative to Adobe Acrobat with over two million users. Formerly Nuance Power PDF, Kofax Power PDF 4 increases worker productivity with improved digital accuracy and the integrated e-signature capabilities of Kofax SignDoc.

About TrustRadius

TrustRadius helps technology buyers make better decisions and helps vendors tell their unique story, improve conversion, engage high-intent buyers, and gain customer insights. Each month over 1 million B2B technology buyers, over 50% from large enterprises, use verified reviews and ratings on TrustRadius.com to make informed purchasing decisions. Headquartered in Austin, TX, TrustRadius was founded by successful entrepreneurs and is backed by Mayfield Fund, LiveOak Venture Partners and Next Coast Ventures.

About Kofax

Kofax enables organizations to Work Like Tomorrow„¢today. Kofaxs Intelligent Automation software platform and solutions digitally transform document-intensive workflows. Customers realize greater agility and resiliency by combining our process orchestration, cognitive capture, RPA, output management, analytics and mobile capabilities to speed time-to-value and increase competitiveness, growth and profitability while mitigating compliance risk. For more information, visit kofax.com.

2021 Kofax, Inc. Kofax is a registered trademark of Kofax Limited.

Amanda Ingalls

Public Relations Director

+1 (949) 783-1595

[email protected]

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Siemens Energy Donates $250k Through Positive Energy Campaign

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On the occasion of the Martin Luther King holiday, the only federal holiday designated as a day of service, Siemens Energy is pleased to announce the winning charitable organizations of the companys recently launched Positive Energy campaign. On this national day of service, its important to recognize the value of serving in the places where we live and work, said Steve Conner, president of Siemens Energy, Inc. These organizations demonstrate service to their respective communities today and every day.

Siemens Energy celebrated its recent spinoff from Siemens AG with a campaign to spread positive energy in the U.S. through donations to its employees favorite charities totaling $250,000 across 20 states. The nominated charities each created a one-minute video explaining their organizations mission and how they would use a donation of up to $10,000 to continue serving their respective community. Each video was uploaded to a gallery, where members of the public could vote for their favorites by liking the videos.

A total of 122 charities were ultimately selected to receive donations ranging from $500 to $10,000 based on a combination of public likes and scores earned from a panel of judges. The complete list of winners can be found in the attached document.

Evelyn Sabina, program coordinator for $10,000 winner Dream It Do It Western New York (WNY) said We cant thank Siemens Energy enough for their continued support for Dream It Do It WNY. Through student mentoring, classroom visits, school tours, internships, teacher workshops and more, Siemens continues to be a driving force behind our mission: To encourage our talented youth to pursue STEM related careers in Advanced Manufacturing.

Michael Richter, executive director for the Construction and Maintenance Education Foundation (CMEF) in La Porte, TX, another $10,000 winner, said CMEF truly appreciates this generous donation from Siemens Energy. This donation will help us to continue to promote our effective and passionately supported Community Based Workforce Development, Outreach, and Craft Training programs.

Apoorva Savanur, a member of the $10,000-winning Robbinsville FIRST Robotics Team 2590, based in New Jersey, said “Being selected as a grand prize winner for the Siemens Positive Energy Campaign means we are able to continue our STEM outreach both in our immediate community and beyond. The funds will enable us to create engineering kits to engage local children in STEM challenges during the Covid-19 pandemic. We will also be able to continue our global outreach initiative for children in Nairobi, Kenya.”

As a newly independent company, Siemens Energys mission is to support its customers in transitioning to a more sustainable energy system based on the companys innovative technologies and ability to turn ideas into reality. In support of this mission, the Positive Energy Campaign was aimed at providing donations to local charities that make a clear impact on their respective communities, especially in a year when the COVID-19 pandemic has created an increase in basic human needs across society.

We know that many of the organizations our employees support are struggling due to the pandemic, and we are excited to be able to help all the charities that participated in our program, said Conner. Siemens Energys purpose is to energize society, and this campaign focused on helping difference makers throughout the U.S. turn their ideas into reality to build stronger, more sustainable neighborhoods and communities.

This press release and further material is available at www.siemens‘energy.com/press

Follow us on Twitter at: www.twitter.com/siemens_energy

Siemens Energy is one of the worlds leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain “ from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs more than 90,000 people worldwide in more than 90 countries and generated revenue of around ‚¬27.5 billion in fiscal year 2020. www.siemens-energy.com.

List of donation recipients for Positive Energy Campaign

$10,000 Donation

  • Construction & Maintenance Education Foundation, La Porte, Texas
  • Dream It Do It Western New York Inc, Olean, New York
  • Robbinsville FIRST Robotics Team 2590, Robbinsville, New Jersey

$7,500 Donation

  • Challenger Learning Center of the Twin Tier Region, Allegany, New York
  • Least of These Carolinas, Gastonia, North Carolina
  • Limbitless Solutions, Orlando, Florida
  • Olean Food Pantry, Olean, New York
  • Second Harvest Food Bank of Northwest NC, Winston-Salem, North Carolina
  • Simply Amazing, Winter Springs, Florida
  • The Foundation for Seminole County Public Schools, Sanford, Florida

$5,000 Donation

  • AdventHealth Foundation of Central Florida, Orlando, Florida
  • Comfort House of Allegany County, Wellsville, New York
  • Corning Meals on Wheels, Inc., Corning, New York
  • Family Promise of Greater Orlando, Winter Park, Florida
  • Hire Heroes USA, Alpharetta, Georgia
  • ICNA Relief USA Programs, Orlando, Florida
  • Reagan’s Journey, Ford City, Pennsylvania
  • Sheep Inc Health Care Center, Penn Hills, Pennsylvania
  • The Emerge Foundation, Baton Rouge, Louisiana
  • United Way of Marathon County, Wausau, Wisconsin

$2,500 Donation

  • Allegheny Highlands Council, Boy Scouts of America, Falconer, New York
  • Cancer Services, Inc., Winton-Salem, North Carolina
  • Creative Enterprises, Cumming, Georgia
  • Down Syndrome Association of Central Florida, Winter Park, Florida
  • Family Promise of Northern New Castle County, Wilmington, Delaware
  • Florida Trail Association, Gainesville, Florida
  • Girl Scouts of Citrus Council, Orlando, Florida
  • Holy Ground Shelter for Homeless Inc, Riviera Beach, Florida
  • Horton’s Kids, Washington, D.C.
  • Hummingbird Pantry INC, Titusville, Florida
  • iPrevail International Foundation, Oviedo, Florida
  • Orlando After-School All-Stars, Orlando, Florida
  • Reach Unlimited Inc, Cypress, Texas
  • RideAbility Therapeutic Riding Center, Inc., Clover, South Carolina
  • Riley Children’s Foundation, Indianapolis, Indiana
  • Serenity’s Grace Inc, Orlando, Florida
  • Single Moms Rising, Spring, Texas
  • Southeastern Guide Dogs, Inc., Palmetto, Florida
  • The Down Syndrome Association of Houston, Houston, Texas
  • The Greater Mount Airy Ministry of Hospitality, Mount Airy, North Carolina
  • The Guidehouse Foundation Inc., Denver, Colorado
  • The Teen Warehouse, Wilmington, Delaware
  • TRS Health Inc, Stafford, Texas
  • United Women For Change, Waxhaw, North Carolina
  • Veteran Companion Animal Services, Delaware, Ohio

$1,000 Donation

  • 1 Body Outreach, Inc., Oviedo, Florida
  • Alpha Center, Fort Collins, Colorado
  • Epitome of Soul, Ridgewood, New Jersey
  • FamilyPoint Resources, Houston, Texas
  • Florida Symphony Youth Orchestras, Winter Park, Florida
  • Gem Dance and Company, Houston, Texas
  • Longs Peak Council, Boy Scouts of America, Greeley, Colorado
  • Pet Rescue By Judy, Sanford, Florida
  • Pfeiffer Nature Center & Foundation, Portville, New York
  • Phenomenal Pearls Foundation, Houston, Texas
  • Richburg Colonial Library, Richburg, New York
  • Sorba Orlando, Maitland, Florida
  • Spay N Save Animal Clinic, Longwood, Florida
  • SPCA in Cattaraugus County, Olean, New York

$650 Donation

  • ALS Association, Texas Chapter, Houston, Texas
  • American Cancer Society, Tampa, Florida
  • Annabel’s Closet, Oviedo, Florida
  • Barnabas Aid, Lancaster, Pennsylvania
  • Boys & Girls Club of Central Florida, Orlando, Florida
  • Bridges of Light Foundation, Orlando, Florida
  • Carolina Thread Trail, Charlotte, North Carolina
  • Central Florida Community Arts, Orlando, Florida
  • Central Florida Society of Women Engineers, Maitland, Florida
  • Child Care Council of Greater Houston, Inc., Houston, Texas
  • Children’s Resource Foundation, Spring, Texas
  • Community Hope Center, Kissimmee, Florida
  • Compassion United, Inc., Conroe, Texas
  • Concord Neighborhood Center, Indianapolis, Indiana
  • Cristo Rey Jesuit College Preparatory School, Houston, Texas
  • Diaz Music Institute, Kingwood, Texas
  • Dress for Success Houston, Houston, Texas
  • EcoAction Arlington Energy Masters, Arlington, Virginia
  • Elite Boxing Youth Champs INC, Oviedo, Florida
  • Encourager Church, Houston, Texas
  • Epilepsy Association, Orlando, Florida
  • Experiment in Self-Reliance (ESR), Winston-Salem, North Carolina
  • Food Bank for Larimer County, Loveland, Colorado
  • Food Bank of Central & Eastern North Carolina, Raleigh, North Carolina
  • Fuquay Varina Junior Women’s Club, Fuquay Varina, North Carolina
  • Grune Heidi Farm Rescue, Lakeland, Florida
  • Heart of New England Council Boy Scouts of America, Lancaster, Massachusetts
  • Houston PetSet, Houston, Texas
  • Infinite Hands Initiative, Friendswood, Texas
  • International Fringe Festival of Central Florida, Orlando, Florida
  • IRONBULL, Inc, Wausau, Wisconsin
  • JDRF Northern Florida Chapter, Winter Park, Florida
  • Keeping Families Connected, Inc, Indianapolis, Indiana
  • Kick Off For Kids, Orlando, Florida
  • Knox Community Hospital | Koko’s Kid’s Club, Mount Vernon, Ohio
  • Lakeshore Elementary PTO, Houston, Texas
  • Latisha’s House Foundation, Inc., Orlando, Florida
  • Leaders in Energy, Arlington, Virginia
  • Life Support Cares, Hattiesburg, Mississippi
  • Lupus Foundation of America, Florida Chapter, Boynton Beach, Florida
  • Lutheran Counseling Services, Winter Park, Florida
  • Nona Soccer CARES Foundation, Inc, Orlando, Florida
  • One Heart for Women and Children, Orlando, Florida
  • Orlando City Youth Soccer, Sanford, Florida
  • Orlando Science Center, Orlando, Florida
  • Poinciana Cricket Club, Kissimmee, Florida
  • Restoration Destination, Pahokee, Florida
  • Shower Power Inc, Flowood, Mississippi
  • Society of Petroleum Engineers – Gulf Coast, Houston, Texas
  • Summer Adventure in Learning (SAIL), Jefferson, Texas
  • Texas 4000 for Cancer, Austin, Texas
  • Theatre Under The Stars, Houston, Texas
  • The Chill Foundation, Burlington, Vermont
  • The Houston Cecilia Chamber Choir, Houston, Texas
  • The Keri Anne DeMott Foundation, Orlando, Florida
  • The Montrose Center, Houston, Texas
  • The Mothers Group Inc., Tulsa, Oklahoma
  • The Scott Coopersmith Stroke Awareness Foundation, Oviedo, Florida
  • UCP of Central Florida, Orlando, Florida
  • Womens Energy Network Boston Inc, Boston, Massachusetts
  • YMCA of Central Florida, Orlando, Florida
  • Yog Sadhan Ashram of Chicago, West Chicago, Illinois
  • Zebra Coalition, Orlando, Florida

 

Contact for journalists

Stacia Licona

Phone: 281-721-3402

E-mail: [email protected]

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