VANCOUVER, July 10, 2014 /CNW/ - Sierra Metals Inc. (TSX: SMT) (BVL: SMT) ("Sierra Metals" or the "Company") announces that it is deferring a decision on the declaration and payment of a second quarter dividend until the release of its second quarter financial results, which are expected to be released August 13, 2014.
On March 26, 2014 the Company declared a first quarter dividend of C$750,000 and announced a change in its dividend policy when it advised that future dividends, if any, would be considered by the Board of Directors on a quarterly basis with reference to the Company's overall cash and operating position at the relevant time. Commencing with the release of its second quarter financial results in August, Sierra expects that future decisions regarding the declaration of dividends, if any, will be announced concurrently with the release of its periodic financial results in order to include the latest financial information and forecasts in the decision making process.
About Sierra Metals
Sierra Metals Inc. is a Canadian mining company focused on production of precious and base metals from its Yauricocha Mine in Peru, its Bolivar Mine and Cusi Mine in Mexico. In addition, Sierra Metals is exploring several precious and base metal targets in Peru and Mexico. Projects in Peru include Adrico (gold), Victoria (copper-silver) and Ipillo (polymetallic) at the Yauricocha Property in the province of Yauyos and the San Miguelito gold properties in Northern Peru. Projects in Mexico include Bacerac (silver) in the state of Sonora, La Verde (gold) at the Batopilas Property in the state of Chihuahua, and Las Coloradas (silver) at the Melchor Ocampo Property in the state of Zacatecas.
The Company's shares trade on the Bolsa de Valores de Lima and the TSX under the symbol "SMT".
Except for statements of historical fact contained herein, the information in this press release may constitute "forward-looking information" within the meaning of Canadian securities law. Other than statements of historical fact, all statements are "forward-looking statements", which involve various known and unknown risk and uncertainties and other factors, including market conditions that may affect the Company's ability to execute its current business plan and to continue to pay a quarterly dividend. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.
SOURCE: Sierra Metals Inc.
For further information: regarding Sierra Metals, please visit www.sierrametals.com or contact: Daniel Tellechea, President & CEO, Sierra Metals Inc., 1 (866) 493-9646; Thomas Robyn, Senior Vice President, Exploration, Sierra Metals Inc., 1 (866) 493-9646