Sierra Metals (TSE:SMT) has released an update.
Sierra Metals Inc. has signed a binding agreement to sell its non-core Cusi Mine in Mexico to Silverco Mining Corp. The deal includes a $2.5 million cash payment and a 2% net smelter royalty to Sierra Metals, with an option for Silverco to buy half the royalty for an additional $5 million. This strategic sale enables Sierra Metals to focus on optimizing its primary mining operations in Peru and Mexico.
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