March 28, 2017 2:31 AM ET

Metals and Mining

Company Overview of Sociedad Minera Corona, SA

Company Overview

Sociedad Minera Corona, SA engages in the exploration and development of mining rights. The company operates Yauricocha, a mining center located in Lima. It is involved in the production and trade of silver, lead, and zinc concentrates. The company was incorporated in 1993 and is headquartered in Lima, Peru. Sociedad Minera Corona, SA is a subsidiary of Sierra Metals Inc.

Av. Pedro de Osma 450

Barranco

Lima,  

Peru

Founded in 1993

Phone:

51 1 630 3100

Fax:

51 1 467 0590

Key Executives for Sociedad Minera Corona, SA

Sociedad Minera Corona, SA does not have any Key Executives recorded.

Sociedad Minera Corona, SA Key Developments

Sociedad Minera Corona S.A. Reports Unaudited Financial and Operating Results for the Fourth Quarter and Year Ended December 31, 2016

Sociedad Minera Corona S.A. reported unaudited financial and operating results for the fourth quarter and year ended December 31, 2016. For the quarter, the company’s revenues were $31.849 million compared to $12.140 million a year ago. Adjusted EBITDA was $14.905 million compared to adjusted LBITDA of $1.453 million a year ago. Operating cash flow was $14.830 million compared to operating cash out flow of $5.075 million a year ago. Net income was $8.009 million, or $0.22 per share compared to net loss of $4.441 million, or $0.12 per share a year ago. The increase in Revenue was due to a 22% increase in tonnes processed, higher head grades for silver, copper and zinc, higher recoveries for all metals, except gold, and the increase in the prices of silver (14%), copper (9%), lead (23%), zinc (59%), and gold (23%). The increase in adjusted EBITDA was due to the increase in plant throughput, metal production and revenues. The increase in operating cash flow was primarily due to the increase in operating cash flows discussed previously. For the year, the company’s revenues were $97.290 million compared to $80.113 million a year ago. Adjusted EBITDA was $25.124 million compared to $14.645 million a year ago. Operating cash flow was $25.124 million compared to $14.645 million a year ago. Net income was $17.234 million, or $0.48 per share compared to $7.532 million, or $0.21 per share a year ago. For the quarter, silver produced was 550,000 ounces compared to 287,000 ounces for the same period a year ago. Copper produced was 1,720,000 pounds compared to 1,047,000 pounds for the same period a year ago. Lead produced was 9,295,000 pounds compared to 6,814,000 pounds for the same period a year ago. Zinc produced was 16,776,000 pounds compared to 9,265,000 pounds for the same period a year ago. Gold produced was 908,000 ounces compared to 1,041,000 ounces for the same period a year ago. For the nine months, silver ounces produced were 1,841,000 compared to 1,791,000 for the same period a year ago. Copper produced was 6,281,000 pounds compared to 5,567,000 pounds for the same period a year ago. Lead produced 36,440,000 pounds compared to 39,430,000 pounds for the same period a year ago. Zinc produced was 54,805,000 pounds compared to 42,077,000 pounds for the same period a year ago. Gold produced 4,664,000 ounces compared to 5,018,000 ounces for the same period a year ago.

Sociedad Minera Corona S.A. Announces Unaudited Earnings and Operating Results for the Third Quarter and Nine Months Ended September 30, 2016

Sociedad Minera Corona S.A. announced unaudited earnings and operating results for the third quarter and nine months ended September 30, 2016. For the quarter, the company announced revenues of $29,532,000 compared to $23,409,000 for the same period a year ago. Adjusted EBITDA was $13,904,000 compared to $5,272,000 for the same period a year ago. Cash flow from operations was $10,057,000 compared to $5,814,000 for the same period a year ago. The increase in Revenue was due to a 23% increase in tonnes processed, higher head grades for silver, copper and zinc, higher recoveries for all metals, except zinc, and the increase in the price of silver (31%), lead (10%), zinc (24%), and gold (22%). · Net income of $7.3 million, or $0.20 per share compared to net income of $0.04 million, or $0.00 per share a year ago. For the nine months, the company announced revenues of $65,441,000 compared to $67,973,000 for the same period a year ago. Adjusted EBITDA was $20,086,000 compared to $26,354,000 for the same period a year ago. Cash flow from operations was $10,294,000 compared to $19,720,000 for the same period a year ago. Net income of $9.2 million, or $0.26 per share, for the nine month period ended September 30, 2016 compared to $12.0 million, or $0.33 per share, for the same period in 2015. For the quarter, silver produced 545,000 ounces compared to 463,000 ounces for the same period a year ago. Copper produced 1,740,000 pounds compared to 959,000 pounds for the same period a year ago. Lead produced 10,652,000 pounds compared to 9,550,000 pounds for the same period a year ago. Zinc produced 14,040,000 pounds compared to 13,708,000 pounds for the same period a year ago. Gold produced 1,458,000 ounces compared to 1,236,000 ounces for the same period a year ago. For the nine months, silver ounces produced 1,291,000 compared to 1,504,000 for the same period a year ago. Copper produced 4,561,000 pounds compared to 4,520,000 pounds for the same period a year ago. Lead produced 27,145,000 pounds compared to 32,616,000 pounds for the same period a year ago. Zinc produced 38,030,000 pounds compared to 32,812,000 pounds for the same period a year ago. Gold produced 3,756,000 ounces compared to 3,977,000 ounces for the same period a year ago.

Sociedad Minera Corona, SA Announces Unaudited Earnings and Operating Results for the Second Quarter and Six Months Ended June 30, 2016

Sociedad Minera Corona, SA announced unaudited earnings and operating results for the second quarter and six months ended June 30, 2016. Revenues were $23.4 million for the second quarter of 2016 compared to $28.3 million in the second quarter of 2015. Adjusted EBITDA was $5.3 million for the second quarter of 2016 compared to $13.3 million for the second quarter of 2015. Operating cash flows were $5.8 million for the second quarter of 2016 compared to $2.7 million for the second quarter of 2015. Net income was $3.3 million, or $0.09 per share, for the second quarter of 2016 compared to net income of $7.2 million, or $0.20 per share, for the second quarter of 2015. Revenues were $35.9 million for the six months ended June 30, 2016 compared to $50.9 million for the same period in 2015. The decrease in Revenue was due to a 5% decrease in tonnes processed, lower head grades for silver, copper and gold, lower recoveries for all metals and the decrease in the price of copper (21%), lead (2%) and zinc (19%). Adjusted EBITDA was $6.2 million for the six months ended June 30, 2016 compared to $23.6 million for the same period in 2015. The decrease in adjusted EBITDA for the second quarter and first half 2016 is due to the decrease in plant throughput, decrease in revenues, and increase in costs. Operating cash flows were $0.2 million for the six months ended June 30, 2016 compared to $7.3 million for the same period in 2015. Net income was $1.9 million, or $0.05 per share, for the six months ended June 30, 2016 compared to $11.9 million, or $0.33 per share, for the same period in 2015. For the quarter, the company reported net production revenue per tonne of ore milled was 102.30 against 72.19 a year ago. Tonnes processed was 215,510 mt against 224,988 mt a year ago. Silver production was 463,000 ounces against 577,000 ounces a year ago. Copper production was 959,000 pounds against 2,037,000 pounds a year ago. Lead production was 9,550,000 pounds against 10,751,000 pounds a year ago. Zinc production was 13,708,000 pounds against 13,019,000 pounds a year ago. Gold production was 1,236 ounces against 1,232 ounces a year ago. For the six months, the company reported net production revenue per tonne of ore milled was 119.49 against 87.53 a year ago. Tonnes processed was 423,090 mt against 444,957 mt a year ago. Silver production was 746,000 ounces against 1,127,000 ounces a year ago. Copper production was 2,822,000 pounds against 3,749,000 pounds a year ago. Lead production was 16,494,000 pounds against 22,489,000 pounds a year ago. Zinc production was 23,989,000 pounds against 23,480,000 pounds a year ago. Gold production was 2,299 ounces against 2,819 ounces a year ago.

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