SMTS - Sierra Metals to delist from NYSE American BVL exchanges

Sierra Metals ( NYSE: SMTS ) -32.6% post-market Tuesday after announcing a decision to delist its common shares from the New York Stock Exchange American and the Bolsa de Valores de Lima, saying the move will cut costs and simplify its administrative and compliance structure.

Sierra's ( SMTS ) common shares will continue to be traded on the Toronto Stock Exchange.

The miner also said consolidated copper equivalent production fell 24% Y/Y to 16.6M lbs, and mill throughput fell 25% Y/Y to 6,422 tons/day, citing lower throughput at Yauricocha, where operations were suspended for 20 days in September, and a slower ramp up at Bolivar due to an unforeseen flooding event in the Bolivar NorthWest zone.

"It's unlikely that Sierra Metals will have enough funds for the planned expansion of Bolivar and Yauricocha," Gold Panda writes in an analysis published on Seeking Alpha .

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