Sierra Metals mulls over its future
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(Kitco News) - Sierra Metals (TSX: SMT) announced today that its Board, supported by its management team and with the full support of its two largest shareholders, has commenced a process to explore and evaluate potential strategic alternatives focused on maximizing shareholder value.
The company said that these alternatives could include, among other things, “the sale of part or all of the company, a sale of some of the assets of the company, a merger or other business combination with another party, or other strategic transactions.”
The company added that it has engaged CIBC World Markets to assist the Board in its review of strategic alternatives.
Sierra Metals said it has not made any decisions related to any specific strategic alternatives at this time and there can be no assurance that the exploration of strategic alternatives will result in a transaction.
Sierra Metals 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.