Sierra Metals Inc T.SMT

What is happening?

[BrokeStocker]

It's pretty clear no one is buying (literally) their turnaround efforts so far. Over six months stuck between $0.35 and $0.40 on very little volume. They've made some limited progress stabilizing production, but they've also substantially diluted shareholders to get there. I'm giving management the benefit of the doubt for now, but if they can't get this above $1 by next AGM I definitely won't be supporting them in the next election. Let's go!

[UnknownUnknowns]

Looks like you got your wish. Stock at CAD$.53 today. Not sure why, but I assume early indications of a positive Q3 earnings call. 

[BrokeStocker]

Yes, seems like my comment lit a fire lol. A week of rallying and no news seems a bit suspicious though. I'm always skeptical of such rallies. I guess we'll find out Monday, maybe they're going to pile on the sale of Cusi or they finally got the permit. I honestly can't see a leak of stellar results being the reason, they produced less than last quarter and we were faced with lower

[UnknownUnknowns]

I sold at $0.58 and took my profits (bought in at $0.40). Will be listening tomorrow to see if there is any news that justifies such a jump in price. 

[BrokeStocker]

Looks like you made the right move. No news on Cusi or the permit, and they once again posted a net loss. These guys continue to bleed cash. If they can't sell Cusi soon there may be another pp in our future.

[BrokeStocker]

Conference call had nothing new. They sounded less optimistic on both Cusi and the permit than past presentations. It's looking like this rally was pure speculation, which probably means it will fizzle now. That's too bad, was hoping someone knew something I didn't.