Sierra Metals to delist from NYSE American, BVL exchanges (NYSE:SMTS)

Sierra Metals (NYSE:SMTS) -32.6% post-market Tuesday after saying a choice to delist its frequent shares from the New York Inventory Trade American and the Bolsa de Valores de Lima, saying the transfer will reduce prices and simplify its administrative and compliance construction.

Sierra’s (SMTS) frequent shares will proceed to be traded on the Toronto Inventory Trade.

The miner additionally stated consolidated copper equal manufacturing fell 24% Y/Y to 16.6M lbs, and mill throughput fell 25% Y/Y to six,422 tons/day, citing decrease throughput at Yauricocha, the place operations have been suspended for 20 days in September, and a slower ramp up at Bolivar on account of an unexpected flooding occasion within the Bolivar NorthWest zone.

“It is unlikely that Sierra Metals may have sufficient funds for the deliberate enlargement of Bolivar and Yauricocha,” Gold Panda writes in an evaluation revealed on In search of Alpha.