Latest news with #SierraMetals
Miami Herald
a day ago
- Business
- Miami Herald
Cerrado Gold Appoints Ed Guimaraes as Executive Vice President
TORONTO, ON / ACCESS Newswire / June 2, 2025 / Cerrado Gold Inc. (TSXV:CERT)(OTCQX:CRDOF)(FRA:BAI0) ("Cerrado" or the "Company") is pleased to announce the appointment of Ed Guimaraes to the position of Executive Vice President, effective June 1, 2025. Mr. Guimaraes has over 30 years of experience in the mining industry, most recently in an executive advisory capacity and through several board directorships. His career spans a broad range of base and precious metals producers, having supported the development, expansion, and ongoing operations of copper, zinc, lead, gold, and silver mines in Canada, Chile, Peru, Mexico and Argentina. Mr. Guimaraes previously acted as the Chief Financial Officer at Sierra Metals between 2014 and 2023, and he was with Aur Resources between 1995 and 2007, ultimately serving as Executive Vice-President, Finance and Chief Financial Officer, until its acquisition by Teck Resources in 2007 for US$4.1 billion. Prior to 1995, he worked in the Toronto mining group of PricewaterhouseCoopers. Mr. Guimaraes is a Chartered Professional Accountant (CPA, CA), a graduate of the ICD-Rotman Directors Education Program (ICD.D) and holds a Bachelor of Arts in Administrative and Commercial Studies from Western University. Mark Brennan, Executive Chairman, commented: "On behalf of the Board and Management, I would like to welcome Ed to the team. We had very strong success working together growing Sierra Metals, and his extensive financial and operational experience supporting development and expansion of projects will add significant benefit to the Company as we continue to grow the Minera Don Nicolas gold mine to its full potential and advance the Lagoa Salgada VMS and Mont Sorcier High Purity Iron Ore Projects." About Cerrado Cerrado Gold is a Toronto-based gold production, development, and exploration company. The Company is the 100% owner of the producing Minera Don Nicolás and Las Calandrias mine in Santa Cruz province, Argentina. In Portugal, the Company holds an 80% interest in the highly prospective Lagoa Salgada VMS project through its position in Redcorp - Empreendimentos Mineiros, Lda. In Canada, Cerrado Gold is developing its 100% owned Mont Sorcier Iron project located outside of Chibougamou, Quebec. In Argentina, Cerrado is maximizing asset value at its Minera Don Nicolas operation through continued operational optimization and is growing production through its operations at the Las Calandrias heap leach project. An extensive campaign of exploration is ongoing to further unlock potential resources in our highly prospective land package in the heart of the Deseado Masiff. In Portugal, Cerrado is focused on the exploration and development of the highly prospective Lagoa Salgada VMS project located on the prolific Iberian Pyrite Belt in Portugal. The Lagoa Salgada project is a high-grade polymetallic project, demonstrating a typical mineralization endowment of zinc, copper, lead, tin, silver, and gold. Extensive exploration upside potential lies both near deposit and at prospective step-out targets across the large 7,209-hectare property concession. Located just 80km from Lisbon and surrounded by exceptional infrastructure, Lagoa Salgada offers a low-cost entry to a significant exploration and development opportunity, already showing its mineable scale and cashflow generation potential. In Canada, Cerrado holds a 100% interest in the Mont Sorcier high purity Iron project, which has the potential to produce a premium iron concentrate over a long mine life at low operating costs and low capital intensity. Furthermore, its high grade and high purity product facilitates the migration of steel producers from blast furnaces to electric arc furnaces, contributing to the decarbonization of the industry and the achievement of sustainable development goals. For more information about Cerrado please visit our website at: Mark BrennanCEO and Chairman Mike McAllisterVice President, Investor RelationsTel: +1-647-805-5662mmcallister@ Disclaimer NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release include, without limitation, statements regarding the business and operations of Cerrado. SOURCE: Cerrado Gold Inc.
National Post
a day ago
- Business
- National Post
Sierra Metals Calls Annual General and Special Meeting of Shareholders
Article content TORONTO — Sierra Metals Inc. (TSX: SMT | OTCQX: SMTSF | BVL: SMT) (' Sierra Metals ' or the ' Company ') today announces that it has called an annual general and special meeting (the ' Meeting ') of shareholders (the ' Shareholders ') to be held on July 29, 2025. In addition to the annual business to be conducted at the Meeting, the Meeting will also consider the matters set out in the notice of requisition (the ' Requisition ') that was delivered to the Company by Alpayana S.A.C. (the ' Alpayana '), as further detailed in a press release disseminated by Alpayana on May 28, 2025. The record date for determining Shareholders entitled to receive notice of and to vote at the Meeting is June 23, 2025. The meeting date and the record date comply with the timelines requested by Alpayana in the Requisition. Article content Article content The Board of Directors of Sierra Metals (the ' Board '), after consultation with its legal advisors, determined it is in the best interests of the Company to hold only one Shareholder meeting to conduct the annual business of the Company and consider the matters set out in the Requisition. Among other considerations deliberated by the Board, this avoids the cost of holding both a separate special meeting and annual general meeting in close proximity to one another while still allowing the Company to address the matters set forth in the Requisition. Article content Further details about the Meeting, the matters to be presented thereat, and how to vote will be made available to Shareholders in advance of the Meeting, including in a management information circular to be mailed to Shareholders of record as of the record date. Shareholders are not required to take any action at this time in respect of the Meeting. Article content The Board will continue to operate the business in accordance with its fiduciary duties and remains available to engage with Alpayana on a transition plan that is in the best interests of the Company's stakeholders. Article content About Sierra Metals Article content Sierra Metals is a Canadian mining company focused on copper production with additional base and precious metals by-product credits at its Yauricocha Mine in Peru and Bolivar Mine in Mexico. The Company is intent on safely 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 in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company has large land packages at each of its mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential. Article content This news release contains forward-looking information within the meaning of Canadian securities legislation. Forward-looking information relates to future events or the anticipated performance of Sierra Metals and reflect management's expectations or beliefs regarding such future events and anticipated performance based on an assumed set of economic conditions and courses of action. In certain cases, statements that contain forward-looking information can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', 'believes' or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might', or 'will be taken', 'occur' or 'be achieved' or the negative of these words or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Sierra Metals to be materially different from any anticipated performance expressed or implied by such forward-looking information. Article content 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 26, 2025 for its fiscal year ended December 31, 2024 and other risks identified in the Company's filings with Canadian securities regulators, which are available at Article content 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. Article content Article content Article content Article content
Business Wire
a day ago
- Business
- Business Wire
Sierra Metals Calls Annual General and Special Meeting of Shareholders
TORONTO--(BUSINESS WIRE)-- Sierra Metals Inc. (TSX: SMT | OTCQX: SMTSF | BVL: SMT) (" Sierra Metals" or the " Company") today announces that it has called an annual general and special meeting (the " Meeting") of shareholders (the " Shareholders") to be held on July 29, 2025. In addition to the annual business to be conducted at the Meeting, the Meeting will also consider the matters set out in the notice of requisition (the ' Requisition ') that was delivered to the Company by Alpayana S.A.C. (the " Alpayana"), as further detailed in a press release disseminated by Alpayana on May 28, 2025. The record date for determining Shareholders entitled to receive notice of and to vote at the Meeting is June 23, 2025. The meeting date and the record date comply with the timelines requested by Alpayana in the Requisition. The Board of Directors of Sierra Metals (the " Board"), after consultation with its legal advisors, determined it is in the best interests of the Company to hold only one Shareholder meeting to conduct the annual business of the Company and consider the matters set out in the Requisition. Among other considerations deliberated by the Board, this avoids the cost of holding both a separate special meeting and annual general meeting in close proximity to one another while still allowing the Company to address the matters set forth in the Requisition. Further details about the Meeting, the matters to be presented thereat, and how to vote will be made available to Shareholders in advance of the Meeting, including in a management information circular to be mailed to Shareholders of record as of the record date. Shareholders are not required to take any action at this time in respect of the Meeting. The Board will continue to operate the business in accordance with its fiduciary duties and remains available to engage with Alpayana on a transition plan that is in the best interests of the Company's stakeholders. About Sierra Metals Sierra Metals is a Canadian mining company focused on copper production with additional base and precious metals by-product credits at its Yauricocha Mine in Peru and Bolivar Mine in Mexico. The Company is intent on safely 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 in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company has large land packages at each of its mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential. Forward-Looking Statements This news release contains forward-looking information within the meaning of Canadian securities legislation. Forward-looking information relates to future events or the anticipated performance of Sierra Metals and reflect management's expectations or beliefs regarding such future events and anticipated performance based on an assumed set of economic conditions and courses of action. In certain cases, statements that contain forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur" or "be achieved" or the negative of these words or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Sierra Metals to be materially different from any anticipated performance expressed or implied by such 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 26, 2025 for its fiscal year ended December 31, 2024 and other risks identified in the Company's filings with Canadian securities regulators, which are available at 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.
Yahoo
26-05-2025
- Business
- Yahoo
Alpayana Announces Final Take-Up of Sierra Shares and Expiry of Offer
LIMA, Peru, May 26, 2025 /CNW/ - Alpayana S.A.C. ("Alpayana") is pleased to announce today that an additional 15,450,178 common shares (the "Sierra Shares") of Sierra Metals Inc. ("Sierra") were validly tendered (and not withdrawn) under its all-cash offer (the "Offer") to purchase all of the issued and outstanding Sierra Shares for C$1.15 in cash per share as of the expiry of the extended deposit period for the Offer at 5:00 p.m. (Toronto time) on May 23, 2025. The Offer has now expired. These recently deposited Sierra Shares represent approximately 7.15% of the issued and outstanding Sierra Shares. In accordance with the terms of the Offer, Alpayana's wholly-owned Canadian subsidiary ("Alpayana Canada" or the "Offeror"), will immediately take-up the additional 15,450,178 Sierra Shares that have been tendered to the Offer (the "Final Take-Up") and Alpayana will pay for such Sierra Shares as soon as possible. Alpayana previously acquired 187,318,324 Sierra Shares under the Offer, representing approximately 86.67% of the total number of outstanding Sierra Shares, and, after giving effect to the Final Take-Up, Alpayana will own an aggregate of 202,768,502 Sierra Shares, representing 93.82% of the issued and outstanding Sierra Shares. Alpayana Canada intends to pursue a subsequent acquisition transaction to complete the privatization of Sierra and acquire all Sierra Shares not acquired pursuant to the Offer. Alpayana intends to requisition a meeting of Sierra shareholders as soon as possible for the purpose of, among other things, seeking shareholder approval of such subsequent acquisition transaction. Following the completion of such subsequent acquisition transaction, Alpayana Canada intends to cause Sierra to apply to the Toronto Stock Exchange (the "TSX") to delist the Sierra Shares from the TSX and, if permitted by applicable law, cause Sierra to cease to be a reporting issuer (or equivalent) under applicable Canadian securities laws. In accordance with Peruvian securities laws, Alpayana will also launch a local public tender for the number of issued and outstanding shares of Sociedad Minera Corona S.A. that are required to be acquired under Peruvian securities laws, at the price to be established in accordance with such regulations. EARLY WARNING DISCLOSURE The purpose of the Offer is to enable Alpayana acquire all of the issued and outstanding Sierra Shares (of which it currently holds 187,318,324 Sierra Shares, and following completion of the Final Take-Up it will hold 202,768,502 Sierra Shares). A copy of Alpayana's early warning report to be filed for the Final Take-Up of Sierra Shares can be obtained from Shorecrest Group, the Depositary and Information Agent for the Offer, by telephone at 1-888-637-5789 (North American Toll-Free Number), 647-931-7454 (outside North America) or by email at contact@ Sierra's head office is located at 200 Bay Street, Suite 2800, Toronto, Ontario, M5J 2J3, Canada. ABOUT ALPAYANA Alpayana Canada is a Canadian wholly-owned subsidiary of Alpayana and was incorporated for the sole purpose of making the Offer. Alpayana is a family-owned private mining company committed to the development and promotion of sustainable and responsible mining. It strives to leave a positive and meaningful legacy by prioritizing the wellbeing of its employees, the communities it impacts and the environment. Alpayana has been operating mines in Peru for over 38 years, has a successful M&A track record, and experience in developing projects with discipline and with a view on long-term intrinsic value. Alpayana has revenues in excess of US$500 million and a robust balance sheet. Alpayana has retained LXG Capital as exclusive financial advisor and McCarthy Tétrault, Estudio Rebaza, Alcázar & De las Casas, and Creel, García- Cuéllar, Aiza y Enriquez Abogados as legal counsel to this transaction. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This document contains "forward-looking statements" (as defined under applicable securities laws). These statements relate to future events and reflect Alpayana Canada's and Alpayana's expectations, beliefs, plans, estimates, intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking statements include, but are not limited to, statements regarding Alpayana's intentions with respect to the take-up of Sierra Shares, any subsequent acquisition transaction, requisitioning a meeting of Sierra shareholders, the delisting of Sierra Shares from the TSX and Sierra ceasing to be a reporting issuer. Such forward-looking statements reflect Alpayana Canada and Alpayana's current beliefs and are based on information currently available. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", "target", "intend", "could" or the negative of these terms or other comparable terminology. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking statements. In evaluating these statements, readers should specifically consider various factors that may cause actual results to differ materially from any forward-looking statement. These factors include, but are not limited to, market and general economic conditions (including slowing economic growth, inflation and rising interest rates) and the dynamic nature of the industry in which Alpayana operates. Although the forward-looking information contained in this document is based upon what Alpayana Canada and Alpayana believe are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this document are made as of the date of this document and should not be relied upon as representing views as of any date subsequent to the date of this document. Except as may be required by applicable law, Alpayana Canada and Alpayana do not undertake, and specifically disclaim, any obligation to update or revise any forward-looking information, whether as a result of new information, further developments or otherwise. SOURCE Alpayana S.A.C. View original content:
National Post
21-05-2025
- Business
- National Post
Sierra Metals Reminds Shareholders of Impending Deadline to Tender Shares to Alpayana Offer
Article content TORONTO — Sierra Metals Inc. (TSX: SMT | OTCQX: SMTSF | BVL: SMT) (' Sierra Metals ' or the ' Company ') wishes to remind shareholders that, following the initial expiry time for Alpayana's (as defined herein) all-cash offer of $1.15 (the ' Offer ') per common share of the Company (' Common Shares '), Alpayana has extended the period during which shareholders of Sierra Metals may tender their Common Shares to the Offer until 5:00 p.m. (Toronto time) on May 23, 2025 (the ' Deadline '), as required by applicable Canadian securities laws. Article content Article content As of the expiry of the initial deposit period for the Offer at 5:00 p.m. (Toronto time) on May 12, 2025, Alpayana announced that 152,904,401 Common Shares, representing approximately 70.7% of the issued and outstanding Common Shares, were tendered to the Offer and taken-up by Alpayana Canada Ltd., a wholly owned subsidiary of Alpayana S.A.C. (collectively ' Alpayana '). Subsequently, on May 19, 2025, Alpayana announced that an additional 34,413,923 Common Shares, representing approximately 15.9% of the issued and outstanding Common Shares, were tendered to the Offer and taken-up by Alpayana. Accordingly, Alpayana will, upon take-up of these Common Shares, own an aggregate of 187,318,324 Common Shares, representing approximately 86.7% of the issued and outstanding Common Shares. Article content Despite Sierra's ongoing efforts to work constructively with Alpayana toward a negotiated transaction, and an orderly transition of the Company's business, such efforts have been rebuffed by Alpayana. Among other things, the Company's Board of Directors has sought confirmation from Alpayana that it would undertake to pursue a second-step transaction to acquire 100% of Sierra Metals at the Offer price. Alpayana has refused to provide the requested confirmation, including in its news release of May 19, 2025, that it would complete a second-step transaction to acquire 100% of Sierra Metals at the Offer price. Article content Shareholders are cautioned that Alpayana is not required under applicable laws to pursue a second-step transaction to acquire 100% of Sierra Metals at the Offer price even if it acquires 90% or more of the issued and outstanding Common Shares under the Offer. Article content Shareholders who wish to tender their Common Shares to the Offer are encouraged to do so as soon as possible as there is no guarantee that Alpayana will further extend the Offer after the Deadline, nor is there any guarantee that Alpayana will pursue a second-step transaction to acquire 100% of the Common Shares at the Offer price. Article content If Alpayana does not pursue a second-step transaction, shareholders of Sierra who do not tender their Common Shares prior to the Deadline will remain minority shareholders of a public company under Alpayana's control. As a controlling shareholder, Alpayana has the ability to exercise control over all matters requiring approval of the shareholders of the Company, including the election of directors, determination of significant corporate actions and amendments to the Company's constating documents. In some cases, the interests of Alpayana may not be the same as the remaining public shareholders, and conflicts may arise from time to time that may be resolved in a manner detrimental to the Company's remaining public shareholders. Article content Additionally, Alpayana owning a significant majority of the Common Shares reduces the number of Common Shares that might otherwise trade publicly, which could materially adversely affect the liquidity and market value of any Common Shares held by the minority public shareholders who remain as shareholders of the Company following the Deadline. Article content Accordingly, shareholders who wish to tender their Common Shares to the Offer are encouraged to do so as soon as possible. The Board will continue to operate the business in accordance with its fiduciary duties and remains available to engage with Alpayana on a transition plan that is in the best interest of Sierra's stakeholders. Article content Shareholders of Sierra Metals who have questions or require assistance in tendering their Common Shares to the Offer may contact the Depositary and Information Agent for the Offer: Shorecrest Group, at telephone at 1-888-637-5789 (North American Toll-Free Number), +1-647-931-7454 (outside North America), or by email at contact@ Article content About Sierra Metals Article content Sierra Metals is a Canadian mining company focused on copper production with additional base and precious metals by-product credits at its Yauricocha Mine in Peru and Bolivar Mine in Mexico. The Company is intent on safely 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 in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company has large land packages at each of its mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential. Article content Forward-Looking Statements Article content This news release contains forward-looking information within the meaning of Canadian securities legislation. Forward-looking information relates to future events or the anticipated performance of Sierra Metals and reflect management's expectations or beliefs regarding such future events and anticipated performance based on an assumed set of economic conditions and courses of action. In certain cases, statements that contain forward-looking information can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', 'believes' or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might', or 'will be taken', 'occur' or 'be achieved' or the negative of these words or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Sierra Metals to be materially different from any anticipated performance expressed or implied by such forward-looking information. Forward-looking statements in this news release include, but are not limited to, statements regarding the Offer, a potential second step transaction, the intentions of Alpayana, potential conflicts between shareholders and Alpayana, and the future market price and liquidity of the Common Shares. Article content 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 26, 2025 for its fiscal year ended December 31, 2024 and other risks identified in the Company's filings with Canadian securities regulators, which are available at Article content 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. Article content Article content Article content Article content For further information regarding Sierra Metals, please visit or contact: Article content Article content
