Sierra Metals (SMTSF) 40-F 18 Mar 21 2020 FY Annual report (Canada) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2020shares
Document And Entity Information [Abstract]
Entity Registrant Name	Sierra Metals Inc.
Entity Central Index Key	0001705259
Document Type	40-F
Document Period End Date	Dec. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding	162,810,553
Entity Interactive Data Current	Yes
Entity File Number	001-38141
Document Annual Report	true

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 71,473	$ 42,980
Trade and other receivables	38,694	31,892
Income tax receivable	438	1,471
Prepaid expenses	1,968	1,904
Inventories	23,476	26,053
Total current assets	136,049	104,300
Non-current assets:
Property, plant and equipment	301,786	305,115
Deferred income tax	1,757	2,032
Total assets	439,592	411,447
Current liabilities:
Accounts payable and accrued liabilities	30,317	44,910
Income tax payable	7,545	1,355
Loans payable	18,480
Decommissioning liability	1,260	865
Other liabilities	7,562	7,248
Total current liabilities	65,164	54,378
Non-current liabilities:
Loans payable	80,903	99,814
Deferred income tax	29,903	27,653
Decommissioning liability	21,207	16,029
Other liabilities	2,207	1,554
Total liabilities	199,384	199,428
EQUITY
Share capital	230,980	230,456
Accumulated deficit	(41,820)	(65,239)
Other reserves	11,840	11,566
Equity attributable to owners of the Company	201,000	176,783
Non-controlling interest	39,208	35,236
Total equity	240,208	212,019
Total liabilities and equity	$ 439,592	$ 411,447

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019
Profit or loss [abstract]
Revenue	$ 246,888	[1]	$ 229,038	[2]
Cost of sales
Mining costs	(123,649)		(135,192)
Depletion, depreciation and amortization	(41,654)		(36,084)
Cost of sales	(165,303)		(171,276)
Gross profit from mining operations	81,585		57,762
General and administrative expenses	(20,270)		(19,515)
Selling expenses	(10,195)		(9,741)
Income from operations	51,120		28,506
Other expenses and losses	(665)		(710)
Foreign currency exchange gain (loss)	2,911		(976)
Interest expense and other finance costs	(4,293)		(4,875)
Derivative instruments gains	904
Income before income tax	49,977		21,945
Income tax (expense) recovery:
Current tax expense	(20,535)		(17,416)
Deferred tax recovery (expense)	(2,051)		4,888
Income tax expense	(22,586)		(12,528)
Net income	27,391		9,417
Net income attributable to:
Shareholders of the Company	23,419		4,431
Non-controlling interests	3,972		4,986
Total income (loss)	$ 27,391		$ 9,417
Weighted average shares outstanding (000s)
Basic	162,638		163,075
Diluted	164,047		164,705
Basic earnings per share	$ 0.14		$ 0.03
Diluted earnings per share	$ 0.14		$ 0.03
[1]	Includes provisional pricing adjustments of: $2,899 for Yauricocha, ($889) for Bolivar, $1,180 for Cusi
[2]	Includes provisional pricing adjustments of: $216 for Bolivar

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement of comprehensive income [abstract]
Net income	$ 27,391	$ 9,417
Items that may be subsequently classified to net income:
Currency translation adjustments on foreign operations	130	667
Total comprehensive income	27,521	10,084
Total comprehensive income attributable to shareholders	23,549	5,098
Non-controlling interests	3,972	4,986
Total comprehensive income attributable to shareholders	$ 27,521	$ 10,084

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Common Shares	Other reserves	Retained earnings (accumulated deficit)	Total attributable to shareholders	Non-controlling Interest	Total
Balance at Dec. 31, 2018	$ 231,792	$ 10,870	$ (69,307)	$ 173,355	$ 30,250	$ 203,605
Balance (in shares) at Dec. 31, 2018	163,427,335
Exercise of RSUs	$ 1,145	(1,145)
Exercise of RSUs (in shares)	700,698
Share-based compensation expense		1,174		1,174		1,174
Shares repurchased and cancelled	$ (2,481)		(363)	(2,844)		(2,844)
Shares repurchased and cancelled (in shares)	(2,012,654)
Total comprehensive income		667	4,431	5,098	4,986	10,084
Balance at Dec. 31, 2019	$ 230,456	11,566	(65,239)	176,783	35,236	212,019
Balance (in shares) at Dec. 31, 2019	162,115,379
Exercise of RSUs	$ 524	(524)
Exercise of RSUs (in shares)	695,174
Share-based compensation expense		668		668		668
Total comprehensive income		130	23,419	23,549	3,972	27,521
Balance at Dec. 31, 2020	$ 230,980	$ 11,840	$ (41,820)	$ 201,000	$ 39,208	$ 240,208
Balance (in shares) at Dec. 31, 2020	162,810,553

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net income	$ 27,391	$ 9,417
Adjustments for items not affecting cash:
Depletion, depreciation and amortization	41,916	36,084
Share-based compensation	668	1,174
Loss on disposals and write-offs	1,571	1,072
Change in supplies inventory reserve	176	238
Revisions in estimates of decomissioning liability at closed mine		144
Interest expense and other finance costs	4,592	5,055
Net realizable value adjustment to inventory	1,248
Current income tax expense	20,535	17,416
Deferred income taxes expense (recovery)	2,051	(4,888)
Unrealized foreign currency exchange (gain) loss	(1,143)	647
Operating cash flows before movements in working capital	99,005	66,359
Net changes in non-cash working capital items	(18,239)	(3,680)
Decomissioning liabilities settled	(405)	(914)
Income tax paid	(13,380)	(22,178)
Cash generated from operating activities	66,981	39,587
Cash (used in) investing activities
Capital expenditures	(35,972)	(54,621)
Proceeds from sale of property, plant and equipment	901
Proceeds from insurance claim	822
Cash (used in) investing activities	(34,249)	(54,621)
Cash from (used in) financing activities
Proceeds from issuance of loans, net of transaction costs		99,814
Repayment of loans and credit facilities		(56,193)
Loan interest paid	(4,066)	(4,615)
Cash paid to repurchase shares		(2,844)
Cash generated from (used in) financing activities	(4,066)	36,162
Effect of foreign exchange rate changes on cash and cash equivalents	(173)	20
Increase in cash and cash equivalents	28,493	21,148
Cash and cash equivalents, beginning of the year	42,980	21,832
Cash and cash equivalents, end of the year	$ 71,473	$ 42,980

Description of business and nat

Description of business and nature of operations	12 Months Ended
	Dec. 31, 2020
Description Of Business And Nature Of Operations Disclosure [Abstract]
Description of business and nature of operations	1 Description of business and nature of operations Sierra Metals Inc. (“Sierra Metals” or the “Company”) was incorporated under the Canada Business Corporations Act on April 11, 1996 and is a diversified Canadian mining company focused on the production, exploration and development of precious and base metals in Peru and Mexico. The Company’s key priorities are to generate strong cash flows and to maximize shareholder value. The Company’s shares are listed on the TSX, NYSE American Exchange, and the Bolsa de Valores de Lima (“BVL”) and its registered office is 161 Bay Street, Suite 4260, Toronto, Ontario, M5J 2S1, Canada. The Company owns an 81.84% interest in the polymetallic Yauricocha Mine in Peru and a 100% interest in the Bolivar and Cusi Mines in Mexico. In addition to its producing mines, the Company also owns various exploration projects in Mexico and Peru.

Significant accounting policies

Significant accounting policies	12 Months Ended
	Dec. 31, 2020
Disclosure Of Significant Accounting Policies [Abstract]
Significant accounting policies	2 Significant accounting policies The significant accounting policies used in the preparation of these consolidated financial statements are as follows: (a) Basis of preparation These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and interpretations issued by the International Financial Reporting Interpretations Committee (“IFRIC”). The financial statements were approved by the Board of Directors on March 15, 2021. (b) Basis of consolidation These consolidated financial statements include the accounts of the Company and its subsidiaries, which are entities controlled by the Company. Control exists when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are consolidated from the date that control commences until the date that control ceases. Non-controlling interests represent equity interests in subsidiaries owned by outside parties. Changes in the parent company’s ownership interest in subsidiaries that do not result in a loss of control are accounted for as equity transactions. The principal subsidiaries of the Company and their geographical locations as at December 31, 2020 and 2019 are as follows: Name of the subsidiary Ownership interest Location Dia Bras EXMIN Resources Inc. 100% Canada Sociedad Minera Corona, S. A. (“Corona”) 1 81.84% Perú Dia Bras Peru, S. A. C. (“Dia Bras Peru”) 1 100% Perú Dia Bras Mexicana, S. A. de C. V. (“Dia Bras Mexicana”) 100% México Servicios de Minería de la Sierra, S. A. de C. V. 100% México Bolívar Administradores, S. A. de C. V. 100% México EXMIN, S. A. de C. V. 100% México Servicios de Produccion Y Extraccion de Chihuahua, S.A. de C.V 100% México Asesores Administrativos Y de Recursos Humanos, S.A. de C.V 100% México 1 The Company, through its wholly owned subsidiary Dia Bras Peru, holds an 81.84% interest in Corona, which represents 92.33% of the voting shares. The Company consolidates Corona's financial results and records a non-controlling interest for the 18.16% that it does not own. (c) Foreign currency translation (i) Functional currency Items included in the financial statements of each of the Company’s subsidiaries are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The functional currency of Sierra Metals Inc., the parent entity, is the Canadian dollar (“C$”). The functional currency of the Mexican and Peruvian subsidiaries is the United States dollar. (ii) Presentation currency The presentation currency of the financial statements is United States dollar (“$”). The financial statements of entities that have a functional currency different from the presentation currency are translated into the presentation currency as follows: assets and liabilities – at the closing rate at the date of the statement of financial position, income and expenses – at the average rate of the period (as this is considered a reasonable approximation of the actual rates prevailing at the transaction dates). All resulting differences are recognized in other comprehensive income as cumulative translation adjustments. (iii) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of foreign currency transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in currencies other than an entity’s functional currency are recognized in the consolidated statement of loss. (d) Cash and cash equivalents Cash and cash equivalents include cash on hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less. (e) Financial Instruments The Company’s financial assets and liabilities (financial instruments) include cash and cash equivalents, trade receivables, accounts payable and accrued liabilities and long-term debt. The Company recognizes financial assets and financial liabilities on the date the Company becomes a party to the contractual provisions of the instruments. A financial asset is derecognized either when the Company has transferred substantially all the risks and rewards of ownership of the financial asset or when cash flows expire. A financial liability is derecognized when the obligation specified in the contract is discharged, canceled or expired. Financial Assets Cash and cash equivalents are recorded at amortized cost using the effective interest method. Trade and other receivables are classified as financial assets at fair value through profit or loss and measured at fair value. Financial Liabilities Financial liabilities, including accounts payable and accrued liabilities, as well as debt and financing obligations are accounted for at amortized cost. Non-hedge derivatives The Company may hold derivative financial instruments to hedge its risk explosure to fluctuations in commodity prices. These derivative financial instruments are classified as financial instruments through profit or loss and recorded in the balance sheet at fair value. Changes in the estimated fair value of non-hedge derivatives at each reporting date are included in the Consolidated Statement of Incomes as derivative gain or loss. (f) Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker is responsible for allocating resources and assessing performance of the operating segments and has been identified as the President and Chief Executive Officer of the Company. (g) Inventories Inventories consist of concentrates, ore stockpiles, supplies and spare parts. Concentrates include stockpiled concentrates at milling operations or at warehouses. Stockpiled ore is comprised of in-process mineralized material awaiting processing at milling facilities and materials for use in milling operations. Concentrates and stockpiled ore are valued at the lower of average production cost and net realizable value (“NRV”). Concentrates and stockpiled ore inventory costs include all direct costs incurred in production including direct labor and materials, freight and amortization, and directly attributable overhead costs. NRV is calculated as the estimated price at the time of sale based on prevailing metal market prices less estimated future costs to convert the inventories into saleable form and estimated costs to sell. The supplies and spare parts inventories will be used for exploration and production and are valued at the lower of average cost and net realizable value. Cost includes acquisition, freight and other directly attributable costs. If the carrying value of inventory exceeds NRV, a write-down is recognized as production costs of sales in the consolidated statement of income (loss). If there is a subsequent increase in the value of the inventory, the previous write-downs to NRV are reversed up to cost to the extent that the related inventory has not been sold. (h) Exploration and evaluation expenditure Exploration and evaluation expenditures are comprised of costs that are directly attributable to: · Researching and analysing existing exploration data; · Conducting geological studies, exploratory drilling and sampling; · Examining and testing extraction and treatment methods; and /or · Compiling pre-feasibility and feasibility studies Exploration expenditures are costs incurred in the search for resources suitable for commercial exploitation. Evaluation expenditures are costs incurred in determining the technical feasibility and commercial viability of a mineral resource. Exploration and evaluation expenditures are capitalized when there is a high degree of confidence in the project’s viability and thus it is probable that future economic benefits will flow to the Company. Any items of property, plant and equipment used for exploration and evaluation are capitalised within property, plant and equipment. Capitalized exploration and evaluation expenditures are considered to be tangible assets as they form part of the underlying mineral property and are recorded within property, plant and equipment - exploration and evaluation expenditures. (i) Property, plant and equipment Property, plant and equipment is stated at cost, less accumulated depreciation and impairment losses. The cost of an item of property, plant and equipment comprises its purchase price, any costs directly attributable to bringing the assets to the location and condition necessary for it to be capable of operating in the manner intended by management and the estimated close down and restoration costs associated with the asset, and for qualifying assets, the associated borrowing costs. Once a mining project has been established as commercially viable, expenditure other than on land, buildings, plant and equipment is capitalized under ‘Mining properties’ together with any amount capitalized relating to that mining project from ‘Exploration and evaluation’. Where an item of property, plant and equipment is comprised of major components with different useful lives, the components are accounted for as separate items of property, plant and equipment and depreciated over their estimated useful lives. Costs associated with commissioning new assets, in the period before they are capable of operating in the manner intended by management, are capitalized. Revenue generated during the development stage from the sale of concentrate and related costs can be deducted from capitalized costs only if the production of the saleable material is directly attributable to bringing the asset to the condition necessary for it to be capable of operating in the manner intended by management. Development costs incurred after the commencement of production are capitalised to the extent they are expected to give rise to future economic benefits and these costs can be measured reliably. Repairs and maintenance costs are charged to the consolidated statement of income (loss) during the period in which they are incurred. Property, plant and equipment is depreciated over its useful life, or over the remaining life of the mine if shorter. Depreciation commences when the asset is available for use. Land is not depreciated. The major categories of property, plant and equipment are depreciated on a straight-line basis using the following average estimated useful lives below: Asset class Useful lives (years) Vehicle, furniture and other assets 3 to 10 Machinery and equipment 5 to 20 Buildings and other constructions 5 to 50 Mining properties are depleted over the life of the mine using the units of production method. In applying the units of production method, depletion is normally calculated using the quantity of material to be extracted in current and future periods based on proven and probable reserves or measured and indicated resources. Such non-reserve material may be included in depletion calculations in limited circumstances and where there is a high degree of confidence in its economic extraction. The Company conducts an annual review of residual values, useful lives, depletion and depreciation methods used for property, plant and equipment. Changes to estimated residual values or useful lives are accounted for prospectively. (j) Impairment of non-financial assets Property, plant and equipment and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Impairment is assessed at the level of cash generating units (‘CGUs’). The recoverable amount is the higher of an asset’s fair value less costs to sell or value in use. Fair value less costs to sell is determined as the amount that would be obtained from the sale of the asset in an arm’s length transaction. The best evidence of fair value is the value obtained from an active market or binding sales agreement. Where this information is not available, fair value can be estimated as the present value of future cash flows expected to be realized from the continued use of the asset including expansion projects. Value in use is determined as the present value of expected future cash flows to be realized from the continued use of the asset in its present condition and from its ultimate disposal. Capitalized exploration expenditures are reviewed for indicators of impairment, which included a decision to discontinue activities in a specific area and the existence of sufficient data indicating that the carrying amount of an exploration and evaluation asset is unlikely to be recovered from the development or sale of the asset. Non-financial assets that have suffered impairment are tested for possible reversal of the impairment whenever events or changes in circumstances indicate that the impairment may have reversed. (k) Borrowing costs Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets are capitalized and included in the carrying amounts of those assets until they are ready for their intended use. All other borrowing costs are recognized as an expense in the period incurred. (l) Revenue recognition Revenues include sales of metal concentrates net of treatment and refining charges. The Company sells concentrate from certain of its mines to third-party smelter customers. These concentrates predominantly contain zinc, lead, and copper, along with quantities of gold and silver. The Company recognizes revenue from these concentrate sales when control of the concentrate has transferred to the customer, which is the point in time that the concentrate is delivered to the customer. Upon delivery, the customer has legal right to, physical possession of, and the risks and rewards of ownership of the concentrate. The customer is also committed to accept and pay for the concentrates once delivered; therefore, the customer is able to direct the use of and obtain substantially all of the remaining benefits from the concentrate. The final prices for metals contained in the concentrate are generally determined based on the prevailing spot market metal prices on a specific future date, which is established on a date prior to the concentrate being delivered to the customer. Upon transfer of control at delivery, the Company measures revenue under these contracts based on forward prices agreed upon with the customer at the time of delivery and the most recent determination of the quantity of contained metals less smelting and refining charges charged by the customer. This reflects the best estimate of the transaction price expected to be received at final settlement. The variability associated with the embedded derivative for changes in the metal prices is recognized at fair value. These changes in the fair value of the receivable are adjusted through revenue from other sources at each subsequent financial statement date. (m) Leases At inception of a contract, the Company assesses whether a contract is, or contains, a lease by determining whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. A right-of-use ("ROU") asset and lease liability is recognized at the lease commencement date. The ROU asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred, less any lease incentives received. The right-of-use asset is subsequently depreciated from the commencement date to the earlier of the end of the lease term, or the end of the useful life of the asset. In addition, the right-of-use asset may be reduced due to impairment losses, if any, and adjusted for certain remeasurements of the lease liability. A lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by the interest rate implicit in the lease, or if that rate cannot be readily determined, the incremental borrowing rate. Lease payments included in the measurement of the lease liability are comprised of: · fixed payments, including in-substance fixed payments, less any lease incentives receivable; · variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date; · amounts expected to be payable under a residual value guarantee; · exercise prices of purchase options if we are reasonably certain to exercise that option; and · payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease. The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, or if there is a change in our estimate or assessment of the expected amount payable under a residual value guarantee, purchase, extension or termination option. Variable lease payments not included in the initial measurement of the lease liability are charged directly to profit. (n) Share capital Common shares are classified as equity. Incremental costs directly attributable to the issuance of the shares are recognized as a deduction from equity. (o) Share-based payments The fair value of the estimated number of stock options and restricted share units (“RSUs”) awarded to employees, officers and directors that will eventually vest, determined as of the date of grant, is recognized as share-based compensation expense over the vesting period of the stock options and RSUs, with a corresponding increase to equity. The fair value of each tranche is determined using the Black-Scholes option pricing model with market related inputs as of the date of grant. The fair value of RSUs is the market value of the underlying shares as of the date of grant. The number of awards expected to vest is reviewed at least annually, with any change in the estimate recognized immediately in share-based payments expense with a corresponding adjustment to equity. (p) Share repurchases The Company deducts from contributed surplus any excess of consideration paid over book value where the Company has repurchased any of its own common shares. Book value is calculated as the weighted average price of the shares issued and outstanding prior to the cancellation date. (q) Earnings per share Basic earnings per share (“EPS”) is calculated by dividing the net income for the period attributable to the shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted EPS is calculated by adjusting the weighted average number of common shares outstanding for dilutive instruments. The number of shares included with respect to options, warrants and similar instruments is computed using the treasury stock method. The Company’s potentially dilutive common shares comprise stock options and RSUs granted to employees. In periods of loss, basic and diluted EPS are the same, as the effect of dilutive instruments is anti-dilutive. (r) Income taxes Tax expense comprises current and deferred income and resource taxes. Current income, deferred income and resources taxes are recognized in profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or in other comprehensive income. Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognized for the following temporary differences: the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss, and differences relating to investments in subsidiaries and jointly controlled entities to the extent that the parent is able to control the timing of the reversal of the temporary difference and it is probable that they will not reverse in the foreseeable future. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis, or their tax assets and liabilities will be realized simultaneously. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. (s) Decommissioning and restoration liabilities Decommissioning and restoration costs include the dismantling and demolition of infrastructure, the removal of residual materials and the remediation of disturbed areas. These costs are a normal consequence of mining activity and the majority of these expenditures are expected to be incurred at the end of the life of mine. Estimated decommissioning and restoration costs are provided in the accounting period when the obligation arising from the related disturbance occurs, based on the net present value of the estimated future costs discounted using the credit adjusted risk free rate. This provision is adjusted in each reporting period to reflect known developments, e.g. revisions to costs estimates and the timing of cash outflows. The initial decommissioning and restoration provision together with other movements resulting from changes in estimated cash flows or the credit adjusted risk free rates is capitalized within property, plant and equipment and amortized over the life of the asset to which it relates except where it relates to a closed mine where the expenses are recognized in the statement of loss. Provision is made for the estimated present value of costs of environmental clean-up obligations outstanding as at the date of the statement of financial position, and these costs are charged to the income statement as an operating cost. The amortization or unwinding of the discount applied in establishing the net present value of provision is accreted to the income statement in each accounting period with each interest charge included as a financing cost rather than as an operating cost.

Significant accounting estimate

Significant accounting estimates and judgments	12 Months Ended
	Dec. 31, 2020
Disclosure of changes in accounting estimates [abstract]
Significant accounting estimates and judgments	3 Significant accounting estimates and judgments In the application of the Company’s accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the effects of uncertain future events on the carrying amounts of assets and liabilities. The estimates and associated assumptions are based on management’s best knowledge of the relevant facts and circumstances and historical experience. Actual results may differ from these estimates, potentially having a material future effect on the Company’s consolidated financial statements. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The following are the significant judgements that management has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the consolidated financial statements: (a) Impairment review of asset carrying values In accordance with the Company’s accounting policy (note 2(j)), at every reporting period, the Company assesses whether there are any indicators that the carrying value of its assets or Cash Generating Units (“CGUs”) may be impaired, which is a significant management judgment. Where there is an indication that the carrying amount of an asset may not be recoverable, the Company prepares a formal estimate of the recoverable amount by analyzing discounted cash flows. The resulting valuations are particularly sensitive to changes in estimates such as long-term commodity prices, exchange rates, sales volume, operating costs, and discount rates. In the event of impairment, if there is a subsequent adverse change in any of the assumptions or estimates used in the discounted cash flow model, this could result in a further impairment of the asset. Also, in accordance with the Company’s accounting policy (note 2(h)), the Company capitalizes evaluation expenditures when there is a high degree of confidence that these costs are recoverable and have a probable future benefit. As at December 31, 2020 and 2019, the Company made an assessment of its long-lived assets and exploration and evaluation expenditures and determined that there were no indicators of impairment. (b) Mineral reserves and resources The Company estimates mineral reserves and resources based on information prepared by qualified persons as defined in accordance with the Canadian Securities Administrators’ National Instrument (“NI”) 43-101. These estimates form the basis of the Company’s life of mine (“LOM”) plans, which are used for a number of important and significant accounting purposes, including: the calculation of depletion expense and impairment charges, forecasting the timing of the payment of decommissioning costs and future taxes. There are significant uncertainties inherent in the estimation of mineral reserves and the assumptions used, including commodity prices, production costs, recovery rates and exchange rates. These assumptions may change significantly when new information becomes available and could result in mineral reserves being revised, which in turn would impact depletion expense, asset carrying values and the provision for decommissioning costs. (c) Deferred tax assets and liabilities The Company’s management makes significant estimates and judgments in determining the Company’s tax expense for the period and the deferred tax assets and liabilities. Management interprets tax legislation in a variety of jurisdictions and makes estimates of the expected timing of the reversal of deferred tax assets and liabilities. In addition, management makes estimates related to expectations of future taxable income based on cash flows from operations and the application of existing tax laws in each jurisdiction. Assumptions used in the cash flow forecast are based on management’s estimates of future production and sales volume, commodity prices, operating costs, capital expenditures, dividends, and decommissioning and reclamation expenditures. These estimates are subject to risk and uncertainty and could result in an adjustment to the deferred tax provision and a corresponding credit or charge to the statement of loss. The Company is subject to assessments by various tax authorities who may interpret the tax laws differently. These differences may impact the final amount or the timing of the payment of taxes. The Company provides for such differences where known based on management’s best estimates of the probable outcome of these matters. (d) Decommissioning and restoration liabilities costs The Company’s provision for decommissioning and restoration costs is based on management’s best estimate of the present value of the future cash outflows required to settle the liability. In determining the liability, management makes estimates about the future costs, inflation, foreign exchange rates, risks associated with the cash flows, and the applicable risk-free interest rates for discounting future cash flows. Changes in any of these estimates could result in a change in the provision recognized by the Company. Also, the ultimate costs of environmental disturbance are uncertain and cost estimates can vary in response to many factors including changes to the relevant legal requirements, the emergence of new restoration techniques or experience at other mine sites. Changes in decommissioning and restoration liabilities are recorded with a corresponding change to the carrying amounts of the assets to which they relate. Adjustments made to the carrying amounts of the asset can result in a change to the depreciation charged in the consolidated statement of loss. (e) COVID-19 uncertainty In preparing the Company’s consolidated financial statements, the management makes judgments in applying its accounting policies. The areas of policy judgment are consistent with those reported in the Company’s 2019 annual consolidated financial statements. In addition, the Company makes assumptions about the future in deriving estimates used in preparing our consolidated financial statements. As disclosed in the 2019 annual consolidated financial statements, sources of estimation uncertainty include estimates used to determine the recoverable amounts of long-lived assets, recoverable reserves and resources, the provision for income taxes and the related deferred tax assets and liabilities and the valuation of other assets and liabilities including decommissioning and restoration provisions. In March 2020, the World Health Organization declared a global pandemic related to COVID-19. The current and expected impacts on global commerce are anticipated to be far-reaching. To date there have been significant stock market volatility, significant volatility in commodity and foreign exchange markets, restrictions on the conduct of business in many jurisdictions and the global movement of people and some goods has become restricted. There is significant ongoing uncertainty surrounding COVID-19 and the extent and duration of the impacts that it may have on demand and prices for the commodities the Company produces, on the Company’s suppliers, on its employees and on global financial markets. On March 17, 2020, the Peruvian government announced a state of emergency to contain the advancement of COVID-19, as a result of which the Yauricocha mine operated at reduced capacity, maintaining an essential crew at site. The mine started ramping up its operations in June 2020 after the inclusion of mining and related activities in phase 2 of the government’s economic recovery plan. Similarly, on March 31, 2020, the Mexican Federal Government also announced suspension of all non-essential services, causing the Company to slow down its mining operations at Bolivar and placing Cusi under care and maintenance. In June, the Company resumed normal operations at Bolivar as the Government deemed mining to be an essential service effective June 1, 2020. After remaining under care and maintenance throughout the second quarter, the Cusi Mine resumed operations and production on July 28, 2020. Despite lifting of restrictions in these countries, the Company continues to experience challenges related to movement of manpower and supplies, which is impacting operations, development and exploration activities at mine sites. Additionally, the Company has incurred additional costs related to COVID-19 such as cleaning and sanitization activities, purchase of disinfectants and quarantine costs for employees and contractors. The Company continues to act to protect the safety and health of its employees, contractors and the communities in which it operates in accordance with guidance from governments and public health authorities. These above-mentioned challenges and measures taken by the Company, combined with commodity market fluctuations resulting from COVID-19 have affected our financial results for the year ended December 31, 2020.

Adoption of new accounting stan

Adoption of new accounting standards and future accounting changes	12 Months Ended
	Dec. 31, 2020
Disclosure of expected impact of initial application of new standards or interpretations [abstract]
Adoption of new accounting standards and future accounting changes	4 Adoption of new accounting standards and future accounting changes A number of new standards, and amendments to standards and interpretations, are not yet effective for the year ended December 31, 2020, and have not been early adopted in preparing these financial statements. These new standards, and amendments to standards and interpretations are either not applicable or are not expected to have a significant impact on the Company’s financial statements.

Trade and other receivables

Trade and other receivables	12 Months Ended
	Dec. 31, 2020
Trade and other receivables [abstract]
Trade and other receivables	5 Trade and other receivables December 31, December 31, 2020 2019 $ $ Trade receivables 28,750 20,549 Sales tax and other receivables 9,944 11,343 38,694 31,892

Inventories

Inventories	12 Months Ended
	Dec. 31, 2020
Inventories [Abstract]
Inventories	6 Inventories December 31, December 31, 2020 2019 $ $ Stockpiles 1,047 4,096 Concentrates 4,185 4,376 Supplies and spare parts 18,244 17,581 23,476 26,053 Cost of sales are comprised of production costs and depletion, depreciation and amortization, and represent the cost of inventories recognized as an expense for the years ended December 31, 2020 and 2019 of $165,303 and $171,276, respectively. Supplies and spare parts inventory as at December 31, 2020 is stated net of a provision of $3,808 (2019 - $3,632) to write inventories down due to obsolescence or infrequent use. During the year ended December 31, 2020, the Company wrote down stockpiles and concentrates inventory to its NRV, recording a charge of $1,248 (2019 - $804). Stockpiles and concentrates inventory held at NRV as at December 31, 2020 was $nil (2019 - $468).

Property, plant and equipment

Property, plant and equipment	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about property, plant and equipment [abstract]
Property, plant and equipment	7 Property, plant and equipment Exploration Plant and Mining Assets under and evaluation equipment properties construction expenditure Total Cost $ $ $ $ $ Balance as of January 1, 2019 239,921 436,810 47,482 64,524 788,737 Additions 14,455 6,249 26,046 8,751 55,501 Change in estimate of decomissioning liability 3,713 - - - 3,713 Disposals (11,768 ) - (28 ) - (11,796 ) Transfers 23,348 4,016 (23,348 ) (4,016 ) - Balance as of December 31, 2019 269,669 447,075 50,152 69,259 836,155 Additions 5,180 6,348 13,218 11,184 35,930 Change in estimate of decomissioning liability 5,427 - - - 5,427 Disposals (4,514 ) - - (2,032 ) (6,546 ) Transfers 24,783 25,979 (10,909 ) (39,853 ) - Balance as of December 31, 2020 300,545 479,402 52,461 38,558 870,966 Exploration Plant and Mining Assets under and evaluation equipment properties construction expenditure Total Accumulated depreciation $ $ $ $ $ Balance as of January 1, 2019 156,223 335,960 - 13,041 505,224 Depletion, depreciation and amortization 21,447 15,093 - - 36,540 Disposals (10,724 ) - - - (10,724 ) Balance as of December 31, 2019 166,946 351,053 - 13,041 531,040 Depletion, depreciation and amortization 27,475 13,958 - - 41,433 Disposals (3,293 ) - - - (3,293 ) Transfers 12,310 731 - (13,041 ) - Balance as of December 31, 2020 203,438 365,742 - - 569,180 Net Book Value - December 31, 2020 97,107 113,660 52,461 38,558 301,786 Net Book Value - December 31, 2019 102,723 96,022 50,152 56,218 305,115 Net Book Value - December 31, 2018 83,698 100,850 47,482 51,483 283,513

Accounts payable and accrued li

Accounts payable and accrued liabilities	12 Months Ended
	Dec. 31, 2020
Trade and other current payables [abstract]
Accounts payable and accrued liabilities	8 Accounts payable and accrued liabilities December 31, December 31, 2020 2019 $ $ Trade payables 16,949 30,422 Other payables and accrued liabilities 13,368 14,488 30,317 44,910 All accounts payable and accrued liabilities are expected to be settled within 12 months.

Current and deferred income tax

Current and deferred income tax liability	12 Months Ended
	Dec. 31, 2020
Current And Deferred Income Tax Liability [Abstract]
Current and deferred income tax liability	9 Current and deferred income tax liability (a) Income and resource taxes 2020 2019 $ $ Current Tax Expense Current income tax 20,535 17,416 20,535 17,416 Deferred Tax Recovery Deferred Tax Expense (recovery) 2,051 (4,888 ) 2,051 (4,888 ) Total tax expense 22,586 12,528 (b) Tax rate reconciliation A reconciliation between income tax expense and the product of loss before income taxes multiplied by the combined Canadian federal and provincial income tax rate for the period ended December 31, 2020 is as follows: 2020 2019 $ $ Income before income taxes 49,977 21,945 Expected Tax Rate 26.50% (2019 - 26.50%) 13,244 5,776 Effect of tax rate differences 1,838 567 Stock based compensation costs 177 291 Other Non-deductible expenses 909 616 Unrealized foreign exchange income (175 ) 412 Inflation adjustment for Mexico tax purposes 150 (224 ) Expired losses - 720 Change in benefit of other temporary differences not recognized 3,896 1,925 Foreign exchange and other (3,326 ) (1,391 ) Mining royalties and other 5,873 3,836 22,586 12,528 (c) Deferred tax asset and liability The significant components and movements of the Company’s net deferred tax assets and liabilities are as follows: Balance Balance Balance January 1, Change in December 31, Change in December 31, $ $ $ $ $ Property, Plant, and equipment (1,666 ) 850 (816 ) 341 (475 ) Inventory (2,098 ) 920 (1,178 ) (2,892 ) (4,070 ) Provisions 2,756 970 3,726 (194 ) 3,532 Decommissioning liabilities 3,904 1,098 5,002 1,632 6,634 Mining royalties 1,464 151 1,615 103 1,718 Mining assets (41,965 ) (589 ) (42,554 ) 157 (42,397 ) Other items 316 1,982 2,298 (1,000 ) 1,298 Non-capital losses 6,552 (266 ) 6,286 (672 ) 5,614 (30,737 ) 5,116 (25,621 ) (2,525 ) (28,146 ) Deferred tax assets have not been recognized in respect of the following temporary differences: 2020 2019 $ $ Non-capital and capital losses 62,250 46,364 Property, plant and equipment 83 49 Mineral properties 2,280 2,236 Other (37 ) (56 ) 64,576 48,593 (d) Tax losses In Canada, the Company has aggregate tax losses not recognized of $37,771 (December 31, 2019 – $30,517) expiring in periods from 2027 to 2040. Deferred tax assets have not been recognized in respect of these losses because it is not probable that future taxable profit will be available against which the Company can utilise the benefits there from. Also, the Company has $1,403 of capital losses in Canada that are without expiry as at December 31, 2020 (December 31, 2019 - $1,403). (e) Unrecognized deferred tax liabilities As at December 31, 2020, the Company has taxable temporary difference of $77,582 (2019 - $77,703) relating to investments in subsidiaries that has not been recognized because the Company controls whether the liability will be incurred and it is satisfied that it will not be incurred in the foreseeable future.

Loans payable and notes payable

Loans payable and notes payable	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about borrowings [abstract]
Loans payable and notes payable	10 Loans payable and notes payable December 31, December 31, 2020 2019 $ $ Senior Secured Corporate Credit Facility with Banco de Credito del Peru Current Portion 18,480 - Long term Portion 80,903 99,814 99,383 99,814 Senior Secured Corporate Credit Facility with BCP On March 11, 2019, the Company entered into a six-year senior secured corporate credit facility (“Corporate Facility”) with BCP that provides funding of up to $100 million effective March 8, 2019. The Corporate Facility provides the Company with additional liquidity and will provide the financial flexibility to fund future capital projects in Mexico as well as corporate working capital requirements. The Company also used the proceeds of the new facility to repay existing debt balances. The most significant terms of the agreement were: · Term: 6-year term maturing March 2025 · Principal Repayment Grace Period: 2 years · Principal Repayment Period: 4 years · Interest Rate: 3.15% + LIBOR 3M The Corporate Facility is subject to customary covenants, including consolidated net leverage and interest coverage ratios and customary events of default. The Company is in compliance with all covenants as at December 31, 2020. The Company drew down $21.4 million on March 11, 2019, $48.6 million on May 8, 2019 and the balance $30.0 million on June 29, 2019. The Company repaid the amount owed on the Corona Acquisition Loan on May 11, 2019 using funds drawn from the new facility. Interest is payable quarterly and interest payments began on the drawn and undrawn portions of the facility starting in June 2019. During the year ended December 31, 2020, DBP made interest payments of $4,066 (2019 - $2,910). On February 17, 2020, BCP entered into a syndication agreement with Banco Santander S.A for $30.0 million of this credit facility. BCP continues to remain as the principal lender and there were no changes to the terms and conditions of the original agreement. Principal payments on the amount drawn from the facility will begin in June 2021. The loan is recorded at amortized cost and is being accreted to face value over 6 years using an effective interest rate of 4.45%.

Decommissioning liability

Decommissioning liability	12 Months Ended
	Dec. 31, 2020
Disclosure of other provisions [abstract]
Decommissioning liability	11 Decommissioning liability December 31, December 31, 2020 2019 $ $ Balance, beginning of year 16,894 13,304 Liabilities settled during the year (405 ) (914 ) Interest cost 551 647 Revisions and new estimated cash flows 5,427 3,857 Balance, end of year 22,467 16,894 Current portion 1,260 865 Long-term portion 21,207 16,029 The Company’s decommissioning liability represents the present value of estimated costs for required future decommissioning and other site restoration activities. The majority of the decommissioning and site restoration expenditures occur at the end of each operation’s life. During 2020 and 2019, the decommissioning liability was calculated based on the following key assumptions: 2020 2019 Mexico Peru Mexico Peru Estimated undiscounted cash flows ($) 1,182 24,297 949 20,249 Discount rate (%) 5.6 4.1 7.0 5.0 Settlement period (years) 4 3-14 4 4-15 Inflation (%) 4.0 2.0 4.0 2.0

Other liabilities

Other liabilities	12 Months Ended
	Dec. 31, 2020
Disclosure Of Other Liabilities Abstract
Other liabilities	12 Other liabilities December 31, December 31, 2020 2019 $ $ Current Profit-sharing and other employee related obligations (a) 7,267 7,248 Current portion of lease liabilities 295 - 7,562 7,248 Non-current Other employee related obligations 1,426 1,297 Lease Liabiilities 781 257 2,207 1,554 (a) Profit sharing and other employee related obligations As at December 31, 2020, there is a provision amounting to $2,244 for employee profit sharing in Peru and $4,929 for wages, salaries and other employee benefits outstanding (December 31, 2019 - $4,118 and $3,130, respectively).

Share capital and share-based p

Share capital and share-based payments	12 Months Ended
	Dec. 31, 2020
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Share capital and share-based payments	13 Share capital and share-based payments (a) Authorized capital The Company has an unlimited amount of authorized common shares with no par value. (b) Restricted share units (“RSUs”) The changes in RSU’s issued during the years ended December 31, 2020 and 2019 was as follows: December 31, December 31, 2020 2019 Outstanding, beginning of period 1,630,423 1,380,085 Granted 898,857 1,356,418 Exercised (695,174 ) (700,698 ) Forfeited (425,048 ) (405,382 ) Outstanding, end of period 1,409,058 1,630,423 On June 29, 2012, the Company’s shareholders approved the RSU plan, whereby RSUs may be granted to directors, officers, consultants or employees at the discretion of the Board of Directors. The RSU plan provides for the issuance of common shares from treasury upon the exercise of vested RSUs at no additional consideration. There is no cash settlement related to the vesting of RSU’s as they are all settled with equity. The current maximum number of common shares authorized for issue under the RSU plan is 8,000,000. The RSUs have vesting conditions determined by the Board of Directors, and the vesting conditions are non-market conditions and are not performance based. During the year ended December 31, 2020, the Company granted RSU’s totalling 898,857 which had a fair value of C$1.11 based on the closing share price at grant date. RSUs exercised during the year ended December 31, 2020 had a weighted average fair value of C$2.60 (2019 – C$2.62) and the RSUs forfeited had a weighted average fair value of C$1.88 (2019 – C$2.68). As at December 31, 2020, the weighted average fair value of the RSUs outstanding is C$1.57 (2019 – C$2.34). The total RSU expense recognized during the year ended December 31, 2020 was $668 with a corresponding credit to other reserves (2019 - $1,174). (c) There were no share purchases during the twelve months ended December 31, 2020. During the year ended December 31, 2019, the Company purchased 2,012,654 shares under a normal course issuer bid for total consideration of $2,844 and a book value of $2,481.

Non-controlling interest

Non-controlling interest	12 Months Ended
	Dec. 31, 2020
Disclosure Of Non Controlling Interest [Abstract]
Non-controlling interest	14 Non-controlling interest Set out below is the summarized financial information of our subsidiary Corona which has a material non-controlling interest (note 2(b)). The information below is before intercompany eliminations and after fair value adjustments on acquisition of the entity. December 31, December 31, 2020 2019 $ $ Current Assets 118,045 90,438 Liabilities (26,890 ) (27,863 ) Total current net assets 91,155 62,575 Non-current Assets 170,277 171,884 Liabilities (45,145 ) (39,915 ) Total non-current net assets 125,132 131,969 Net assets 216,287 194,544 For the year ended December 31, 2020 2019 $ $ Revenue 146,941 155,983 Income before income tax  39,809 41,796 Income tax expense (17,934 ) (14,338 ) Total income 21,875 27,458 Total income attributable to non-controlling interests 3,972 4,986 Summarized cash flows For the year ended December 31, 2020 2019 $ $ Cash flows from operating activities Cash generated from operating activities 64,797 63,887 Net changes in non cash working capital items (2,992 ) (2,895 ) Decomissioning liabilities settled (405 ) (915 ) Income taxes paid (12,824 ) (21,885 ) Net cash generated from operating activities 48,576 38,192 Net cash used in investing activities (19,205 ) (25,882 ) Net cash from (used in) financing activities 705 4,775 Effect of foreign exchange rate changes on cash and cash equivalents (53 ) 21 Increase in cash and cash equivalents 30,023 17,106 Cash and cash equivalents, beginning of period 35,004 17,898 Cash and cash equivalents, end of period 65,027 35,004

Expenses by nature

Expenses by nature	12 Months Ended
	Dec. 31, 2020
Expenses by nature [abstract]
Expenses by nature	15 Expenses by nature Mining costs include mine production costs, milling and transport costs, royalty expenses, site administration costs but not the primary mine development costs which are capitalized and depreciated over the specific useful life or reserves related to that development and ore included in depreciation and amortization. The mining costs for the years ended December 31, 2020 and 2019 relate to the Yauricocha, Bolivar and Cusi Mines. (a) Mining costs Year ended December 31, 2020 2019 $ $ Employee compensation and benefits 26,472 28,986 Third party and contractors costs 52,616 60,905 Depreciation 41,654 36,084 Consumables 30,850 39,515 Changes in inventory and other costs 13,711 5,786 165,303 171,276 (b) General and administrative expenses 2020 2019 $ $ Salaries and benefits 10,835 9,763 Consulting and professional fees 2,922 2,705 Office expenses 2,182 1,539 Marketing and communication expenses 815 807 Share-based compensation expense 668 1,174 Listing and filing fees 257 318 Director expenses 1,307 1,282 Travelling expense 237 596 Other 1,047 1,331 20,270 19,515

Other income (expenses)

Other income (expenses)	12 Months Ended
	Dec. 31, 2020
Disclosure Of Other Income Expenses [Abstract]
Other income (expenses)	16 Other income (expenses) 2020 2019 $ $ Loss on sale of supplies and fixed assets (124 ) (162 ) Exploration expenditure written off (1,829 ) - Allowance for inventory obsolescence (176 ) (238 ) Miscellaneous income (expense) 1,464 (310 ) (665 ) (710 )

Interest expense and other fina

Interest expense and other finance costs	12 Months Ended
	Dec. 31, 2020
Disclosure Of Interest Expense And Other Finance Costs [Abstract]
Interest expense and other finance costs	17 Interest expense and other finance costs 2020 2019 $ $ Interest expense on loans 4,046 4,431 Interest cost on decommissioning liability 547 647 Interest income (300 ) (203 ) 4,293 4,875

Derivative instruments

Derivative instruments	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
Derivative instruments	18 Derivative instruments The Company had no outstanding derivative instruments at December 31, 2020. For the year ended December 31, 2020, the Company received $904 ($nil for the year ended December 31, 2019), in settlement of the derivative instruments that matured in the period.

Segment reporting

Segment reporting	12 Months Ended
	Dec. 31, 2020
Disclosure of operating segments [abstract]
Segment reporting	19 Segment reporting The Company primarily manages its business on the basis of the geographical location of its operating mines. The Company’s operating segments are based on the reports reviewed by the senior management group that are used to make strategic decisions. The Chief Executive Officer considers the business from a geographic perspective considering the performance of the Company’s business units. The corporate division only earns income that is considered to be incidental to the activities of the Company and thus it does not meet the definition of an operating segment; as such it has been included within “other reconciling items.” The reporting segments identified are the following: · Peru – Yauricocha Mine · Mexico – Bolivar and Cusi Mines The following is a summary of the reported amounts of net income (loss) and the carrying amounts of assets and liabilities by operating segment: Peru Mexico Mexico Canada Yauricocha Mine Bolivar Mine Cusi Mine Corporate Total Year ended December 31, 2020 $ $ $ $ $ Revenue (1) 146,941 81,762 18,185 - 246,888 Production cost of sales (70,660 ) (37,319 ) (15,670 ) - (123,649 ) Depletion of mineral property (8,503 ) (3,873 ) (2,063 ) - (14,439 ) Depreciation and amortization of property, plant and equipment (13,455 ) (10,320 ) (3,440 ) - (27,215 ) Cost of sales (92,618 ) (51,512 ) (21,173 ) - (165,303 ) Gross profit from mining operations 54,323 30,250 (2,988 ) - 81,585 Income (loss) from operations 40,179 19,953 (4,725 ) (4,287 ) 51,120 Derivative instrument gains - - 904 - 904 Interest expense and other finance costs (2,965 ) 18 (105 ) (1,241 ) (4,293 ) Other income (expense) (2,476 ) 1,573 238 - (665 ) Foreign currency exchange gain 329 1,575 345 662 2,911 Income (loss) before income tax 35,067 23,119 (3,343 ) (4,866 ) 49,977 Income tax expense (17,934 ) (3,797 ) (855 ) - (22,586 ) Net income (loss) from operations 17,133 19,322 (4,198 ) (4,866 ) 27,391 December 31, 2020 Peru Mexico Canada Total $ $ $ $ Total assets 269,179 167,866 2,547 439,592 Non-current assets 170,681 132,822 40 303,543 Total liabilities 141,548 26,952 30,884 199,384 (1) Includes provisional pricing adjustments of: $2,899 for Yauricocha, ($889) for Bolivar, $1,180 for Cusi For the year ended December 31, 2020, 60% of the revenues ($146,941) were from six customers based in Peru and the remaining 40% of the revenues ($99,947) were from two customers based in Mexico. In Peru, two major customers accounted for 37% and 33% of the revenues. In Mexico, the two customers accounted for 77% and 23% of the revenues. As at December 31, 2020, the trade receivable balance of $28,750 includes amounts outstanding of $10,957 and $17,793 from the customers in Mexico and Peru, respectively. Peru Mexico Mexico Canada Yauricocha Mine Bolivar Mine Cusi Mine Corporate Total Year ended December 31, 2019 $ $ $ $ $ Revenue (1) 155,983 60,402 12,653 - 229,038 Production cost of sales (79,339 ) (45,491 ) (10,362 ) - (135,192 ) Depletion of mineral property (10,631 ) (2,177 ) (2,314 ) - (15,122 ) Depreciation and amortization of property, plant and equipment (10,346 ) (8,147 ) (2,469 ) - (20,962 ) Cost of sales (100,316 ) (55,815 ) (15,145 ) - (171,276 ) Gross profit from mining operations 55,667 4,587 (2,492 ) - 57,762 Income (loss) from operations 39,879 (4,918 ) (1,079 ) (5,376 ) 28,506 Interest expense and other finance costs (4,422 ) (34 ) (8 ) (412 ) (4,875 ) Other income (expense) (839 ) 105 25 (710 ) Foreign currency exchange loss (170 ) (21 ) (5 ) (780 ) (976 ) Income (loss) before income tax 34,448 (4,868 ) (1,067 ) (6,568 ) 21,945 Income tax (expense) recovery (14,297 ) 1,450 319 - (12,528 ) Net income (loss) from operations 20,151 (3,418 ) (748 ) (6,568 ) 9,417 December 31, 2019 Peru Mexico Canada Total $ $ $ $ Total assets 241,839 162,657 6,951 411,447 Non-current assets 175,246 131,810 91 307,147 Total liabilities 137,146 31,130 31,152 199,428 (1) Includes provisional pricing adjustments of: $216 for Bolivar For the year ended December 31, 2019, 68% of the revenues ($155,983) were from two customers based in Peru and the remaining 32% of the revenues ($73,055) were from two customers based in Mexico. In Peru, the two customers accounted for 53% and 47% of the revenues. In Mexico, the two customers accounted for 82% and 18% of the revenues.

Financial instruments and finan

Financial instruments and financial risk management	12 Months Ended
	Dec. 31, 2020
Financial Instruments And Financial Risk Management [Abstract]
Financial instruments and financial risk management	20 Financial instruments and financial risk management The Company’s financial instruments include cash and cash equivalents, trade receivables, financial assets, accounts payable and loans payable. (a) Financial assets and liabilities by category At December 31, 2020 Amortized FVTPL Total $ $ $ Financial assets Cash and cash equivalents 71,473 - 71,473 Trade receivables (1) - 28,750 28,750 Total Financial assets 71,473 28,750 100,223 Financial liabilities Accounts payable 30,317 - 30,317 Loans payable 99,383 - 99,383 Total Financial liabilities 129,700 - 129,700 At December 31, 2019 Amortized FVTPL Total $ $ $ Financial assets Cash and cash equivalents 42,980 - 42,980 Trade receivables (1) - 20,549 20,549 Total Financial assets 42,980 20,549 63,529 Financial liabilities Accounts payable 44,910 - 44,910 Loans payable 99,814 - 99,814 Total Financial liabilities 144,724 - 144,724 (1) (b) Fair value of financial instruments As at December 31, 2020 and 2019, the fair value of the financial instruments approximates their carrying value. (c) Fair value hierarchy Financial instruments carried at fair value are categorized based on a three-level valuation hierarchy that reflects the significance of inputs used in making the fair value measurements as follows: Level 1 – quoted prices (unadjusted) in active markets for identical assets and liabilities Level 2 – inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices) The Company’s metal concentrate sales are subject to provisional pricing with the selling prices adjusted at the end of the quotational period. The Company’s trade receivables are marked-to-market at each reporting period based on quoted forward prices for which there exists an active commodity market. Level 3 – inputs for the asset or liability that are not based on observable market data. At December 31, 2020 and 2019, the levels in the fair value hierarchy into which the Company’s financial assets and liabilities are measured and recognized on the Consolidated Statement of Financial Position are categorized as follows: Recurring measurements Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total $ $ $ $ $ $ $ $ Trade receivables (1) - 28,750 - 28,750 - 20,549 - 20,549 - 28,750 - 28,750 - 20,549 - 20,549 (1) There were no transfers between Level 1 and Level 2 during the years ended December 31, 2020 and 2019. (d) Financial risk management The Company is exposed to financial risks, including credit risk, liquidity risk, currency risk, interest rate risk and price risk. The aim of the Company’s overall risk management strategy is to reduce the potential adverse effect that these risks may have on the Company’s financial position and results. The Company’s Board of Directors has overall responsibility and oversight of management’s risk management practices. Risk management is carried out under policies approved by the Board of Directors. The Company may from time to time, use foreign exchange contracts and commodity price future and forward contracts to manage its exposure to fluctuations in foreign currency and metals prices. The Company does not ordinarily enter into hedging arrangements to cover long term commodity price risk unless it has the obligation to so under a credit facility, which would be approved of the Board of Directors. i) Market Risk (1) Currency risk Currency risk is the risk that the fair values or future cash flows of the Company’s financial instruments will fluctuate because of changes in foreign exchange rates. The Company and its subsidiaries’ financial instruments are exposed to currency risk where those instruments are denominated in currencies that are not the same as their functional currency; exchange gains and losses in these situations impact net income or loss. The Company’s sales of silver, copper, lead and zinc are denominated in United States dollars and the Company’s costs are incurred in Canadian dollars, United States dollars, Mexican pesos and Peruvian Nuevo Soles. The United States dollar is the functional currency of the Peruvian and Mexican entities. The Canadian dollar is the functional currency of all other entities. The Company also holds cash and cash equivalents, trade and other receivables and accounts payable and other liabilities that are subject to currency risk. The following are the most significant areas of exposure to currency risk: December 31, 2020 CAN dollar Mexican Peruvian Total $ Cash and cash equivalents 179 1,706 1,625 3,510 Income tax and other receivables 39 13,371 723 14,133 218 15,077 2,348 17,643 Accounts payable and other liabilities (885 ) (27,009 ) (16,438 ) (44,332 ) Total (667 ) (11,932 ) (14,090 ) (26,689 ) December 31, 2019 CAN dollar Mexican Peruvian Total $ Cash and cash equivalents 113 73 2,473 2,659 Income tax and other receivables 45 13,262 1,683 14,990 158 13,335 4,156 17,649 Accounts payable and other liabilities (724 ) (30,208 ) (15,357 ) (46,289 ) Total (566 ) (16,873 ) (11,201 ) (28,640 ) The Company manages and monitors this risk with the objective of mitigating the potential adverse effect that fluctuations in currencies against the Canadian dollar and US dollar could have on the Company’s Consolidated Statement of Financial Position and Consolidated Statement of income (loss). As at December 31, 2020, the Company has not entered into any derivative contracts to mitigate this risk. A 10% appreciation in the US dollar exchange rate against the Peruvian Nuevo Soles and the Mexican Peso based on the financial assets and liabilities held at December 31, 2020, with all the other variables held constant, would have resulted in an increase to the Company’s net income of $1,965 (increase in income in 2019 of $2,053). A 10% appreciation in the Canadian dollar exchange rate against the US dollar based on the financial assets and liabilities held at December 31, 2020 and 2019, with all the other variables held constant, would have resulted in a negligible impact to the Company’s net income (loss). (2) Interest rate risk Interest rate risk is the risk that the fair values or future cash flows of the Company will fluctuate because of changes in market interest rates. The Company is exposed to interest rate risk on its loans payable (note 10). The Company monitors its exposure to interest rates closely and has not entered into any derivative contracts to manage its risk. The weighted average interest rate paid by the Company during the year ended December 31, 2020 on its loans and notes payable in Peru was 4.07% (2019 – 5.58%). With all other variables unchanged a 1% increase in the interest rate would have increased the Company’s net loss by $708 (2019 - $690). (3) Commodity price risk Commodity price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices (other than those arising from interest risk or currency risk), whether those changes are caused by factors specific to the individual financial instrument or its issuer, or factors affecting all similar financial instruments in the market. As at December 31, 2020 and 2019, the Company had certain amounts related to the sales of concentrates that have only been provisionally priced. Commodity price risk exists solely in Mexico as the Company fixes metal prices with the purchaser of its concentrates for specific sales for which concentrates have been delivered. The Company’s exposure to commodity price risk is as follows: 2020 2019 Commodity $ $ 10% decrease in silver prices (471 ) (97 ) 10% decrease in copper prices (743 ) - 10% decrease in zinc prices (354 ) - 10% decrease in lead prices (105 ) - 10% decrease in gold prices (928 ) (323 ) As at December 31, 2020 and 2019, the Company did not have any forward contracts outstanding. ii) Liquidity risk is the risk that the Company will not be able to meet its financial obligation as they fall due. The Company has in place planning, budgeting and forecasting process to help determine the funds required to support the Company’s normal operating requirements on an ongoing basis and its expansion and development plans. The Company tries to ensure that it has sufficient committed credit facilities to meet its short-term operating needs, note 10. In the normal course of business, the Company enters into contracts that give rise to commitments for future minimum payments. The following table summarizes the remaining contractual maturities and undiscounted cash flows as at December 31, 2020 of the Company’s financial liabilities and operating and capital commitments: Within 1 year 1-2 years 3-5 years After 5 years As at December 31, 2020 $ $ $ $ $ Accounts payable and accrued liabilities 30,317 - - - 30,317 Loans payable 18,750 25,000 56,250 - 100,000 Interest on loans payable 3,334 2,513 2,464 - 8,311 Asset retirement obligations 1,284 4,816 4,819 14,321 25,240 Other liabilities 7,562 2,207 - - 9,769 Total Commitments 61,247 34,536 63,533 14,321 173,637 In the opinion of management, the working capital at December 31, 2020, together with future cash flows from operations and available loan facilities, is sufficient to support the Company’s commitments through 2021. iii) Credit risk is the risk that the counterparty to a financial instrument might fail to discharge its obligations under the terms of a financial contract. Credit risk is primarily associated with trade receivables; however, it also arises on cash and cash equivalents. The Company sells its concentrate to large international organizations. The Company is exposed to significant concentration of credit risk given that all of its revenues from Peru and Mexico were from two customers at each of the locations. There are no significant provisions recorded for expected credit losses as at December 31, 2020 and 2019. The Company’s policy is to keep its cash and cash equivalents only with highly rated financial institutions and to only invest in government securities. The Company considers the risk of loss associated with cash and cash equivalents to be low. The counterparty to the financial asset is a large international financial institution with strong credit ratings and thus the credit risk is considered to be low. The Company’s maximum exposure to credit risk is as follows: December 31, December 31, 2020 2019 $ $ Cash and cash equivalents 71,473 42,980 Trade receivables 28,750 20,549 100,223 63,529

Capital management

Capital management	12 Months Ended
	Dec. 31, 2020
Disclosure of objectives, policies and processes for managing capital [abstract]
Capital management	21 Capital management The Company’s objectives of capital management are to safeguard its ability to support the Company’s normal operating requirements on an ongoing basis; continue the development and exploration of its mining properties and pursue strategic growth initiatives, while minimizing the cost of such capital; and to provide an adequate return to its shareholders. The capital of the Company consists of items included in equity attributable to owners of the Company and debt, net of cash and cash equivalents as follows: December 31, December 31, 2020 2019 $ $ Equity attributable to owners of the Company 201,000 176,783 Loans payable 99,383 99,814 300,383 276,597 Less: Cash and cash equivalents (71,473 ) (42,980 ) 228,910 233,617 In order to facilitate the management of capital requirements, annual budgets are prepared and updated as necessary based on various factors, many of which are beyond the Company’s control. In assessing liquidity, the Company takes into account its expected cash flows from operations, including capital asset expenditures, and its cash and cash equivalents. The Board of Directors reviews the annual and updated budgets. The Company ensures that there are sufficient committed credit facilities to meet its short-term requirements. At December 31, 2020, the Company expects its current capital resources to be sufficient to support its normal operating requirements on an ongoing basis and planned development and explorations programs. At December 31, 2020, the Company was in compliance with the external capital requirements.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2020
Related party transactions [abstract]
Related party transactions	22 Related party transactions (a) Related party transactions During the year ended December 31, 2020, the Company recorded consulting fees of $200 (2019 - $200) to companies related by common directors or officers. Related party transactions occurred in the normal course of business. (b) The remuneration of the Company’s directors, officers and other key management personnel during the years ended December 31, 2020 and 2019 are as follows: 2020 2019 $ $ Salaries and other short term employment benefits 2,289 3,304 Share-based payments 496 1,581 Total compensation 2,785 4,885 (1) calculated at fair value on day of the grant

Changes in working capital

Changes in working capital	12 Months Ended
	Dec. 31, 2020
Disclosure of changes in working capital [Abstract]
Changes in working capital	23 Changes in working capital Year ended December 31, 2020 2019 $ $ Trade and other receivables (6,802 ) (5,885 ) Financial and other assets (63 ) (563 ) Income tax receivable - (282 ) Inventories 670 (3,849 ) Accounts payable and accrued liabilities (12,600 ) 6,752 Other liabilities 556 147 (18,239 ) (3,680 )

Revenues from mining operations

Revenues from mining operations	12 Months Ended
	Dec. 31, 2020
Revenues From Mining Operations [Abstract]
Revenues from mining operations	24 Revenues from mining operations The Company has recognized the following amounts related to revenue in the consolidated statements of income: Year Ended Year Ended December 31, 2020 December 30, 2019 $ $ Revenues from contracts with customers 243,698 228,822 Provisional pricing adjustments on concentrate sales 3,190 216 Total revenues 246,888 229,038 The following table sets out the disaggregation of revenue by metals and form of sale: Year Ended Year Ended December 31, 2020 December 30, 2019 $ $ Revenues from contracts with customers: Silver 54,641 42,450 Copper 96,159 88,128 Lead 22,068 28,073 Zinc 49,102 58,163 Gold 21,728 12,008 Total revenues from contracts with customers 243,698 228,822

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2020
Disclosure of contingent liabilities [abstract]
Contingencies	25 Contingencies The Company and its subsidiaries have been named as defendants in certain actions incurred in the normal course of business. The Company accrues for such items when a liability is both probable and the amount can be reasonably estimated. In the opinion of Management, these matters will not have a material effect on the consolidated financial statements of the Company. These matters include a personal action filed in Mexico against Dia Bras Mexicana S.A de C.V (“DBM”) by an individual, Ambrosio Bencomo Muñoz, in 2009, as administrator of the intestate succession of Ambrosio Bencomo Casavantes y Jesus Jose Bencomo Muñoz, claiming the annulment and revocation of the purchase agreement of two mining concessions, Bolívar III and IV between Minera Senda de Plata S.A. de C.V. and Ambrosio Bencomo Casavantes, and with this, the nullity of purchase agreement between DBM and Minera Senda de Plata S.A. de C.V. In June 2011, the Sixth Civil Court of Chihuahua, Mexico, ruled that the claim was unfounded and dismissed the case, the plaintiff appealed to the State Court. On November 3, 2014, the Sixth Civil Court of Chihuahua ruled against the plaintiff, noting that the legal route by which the plaintiff presented his claim was not admissible. On February 17, 2017 the State Court issued a ruling dismissing the arguments of the plaintiff. Carlos Emilio Seijas Bencomo, a relative of Ambrosio Bencomo Casavantes and Ambrosio Bencomo Muñoz, following the steps of the Ambrosio lawsuit, filed a similar personal action to claim annulment and revocation of the purchase of the two mining concessions. In May 31, 2019, the Second Federal Civil Court issued a resolution ordering: a) the annulment and revocation of the purchase agreement of the two mining concessions, Bolívar III and IV between Minera Senda de Plata S.A. de C.V. and Ambrosio Bencomo Casavantes, and with this, the nullity of purchase agreement between DBM and Minera Senda de Plata S.A. de C.V., and b) the payment of a sum of money pending to be defined by concept of restitution of the benefits of those two mining concessions. In June 2019, a Federal Court in Chihuahua granted Sierra Metals a suspension of this adverse resolution. On January 14, 2021, the Third Federal Collegiate Court of Civil and Labor Matters of the Seventeenth Circuit in Chihuahua issued a resolution on the appeal (writ of amparo) presented by the Company, declaring the adverse ruling as void and ordered the lower court to issue a new resolution. On March 12, 2021, the first Civil Court of Chihuahua complied with the order of the Collegiate Court absolving DBM of all claims raised by the plaintiff. While the plaintiff has fifteen days to appeal against this judgement, the Company believes that this new development has reduced the possibilities of reversal of the March 12, 2021 ruling.

Significant accounting polici_2

Significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2020
Disclosure Of Significant Accounting Policies [Abstract]
Basis of preparation	(a) Basis of preparation These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and interpretations issued by the International Financial Reporting Interpretations Committee (“IFRIC”). The financial statements were approved by the Board of Directors on March 15, 2021.
Basis of consolidation	(b) Basis of consolidation These consolidated financial statements include the accounts of the Company and its subsidiaries, which are entities controlled by the Company. Control exists when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are consolidated from the date that control commences until the date that control ceases. Non-controlling interests represent equity interests in subsidiaries owned by outside parties. Changes in the parent company’s ownership interest in subsidiaries that do not result in a loss of control are accounted for as equity transactions. The principal subsidiaries of the Company and their geographical locations as at December 31, 2020 and 2019 are as follows: Name of the subsidiary Ownership interest Location Dia Bras EXMIN Resources Inc. 100% Canada Sociedad Minera Corona, S. A. (“Corona”) 1 81.84% Perú Dia Bras Peru, S. A. C. (“Dia Bras Peru”) 1 100% Perú Dia Bras Mexicana, S. A. de C. V. (“Dia Bras Mexicana”) 100% México Servicios de Minería de la Sierra, S. A. de C. V. 100% México Bolívar Administradores, S. A. de C. V. 100% México EXMIN, S. A. de C. V. 100% México Servicios de Produccion Y Extraccion de Chihuahua, S.A. de C.V 100% México Asesores Administrativos Y de Recursos Humanos, S.A. de C.V 100% México 1 The Company, through its wholly owned subsidiary Dia Bras Peru, holds an 81.84% interest in Corona, which represents 92.33% of the voting shares. The Company consolidates Corona's financial results and records a non-controlling interest for the 18.16% that it does not own.
Foreign currency translation	(c) Foreign currency translation (i) Functional currency Items included in the financial statements of each of the Company’s subsidiaries are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The functional currency of Sierra Metals Inc., the parent entity, is the Canadian dollar (“C$”). The functional currency of the Mexican and Peruvian subsidiaries is the United States dollar. (ii) Presentation currency The presentation currency of the financial statements is United States dollar (“$”). The financial statements of entities that have a functional currency different from the presentation currency are translated into the presentation currency as follows: assets and liabilities – at the closing rate at the date of the statement of financial position, income and expenses – at the average rate of the period (as this is considered a reasonable approximation of the actual rates prevailing at the transaction dates). All resulting differences are recognized in other comprehensive income as cumulative translation adjustments. (iii) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of foreign currency transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in currencies other than an entity’s functional currency are recognized in the consolidated statement of loss.
Cash and cash equivalents	(d) Cash and cash equivalents Cash and cash equivalents include cash on hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.
Financial Instruments	(e) Financial Instruments The Company’s financial assets and liabilities (financial instruments) include cash and cash equivalents, trade receivables, accounts payable and accrued liabilities and long-term debt. The Company recognizes financial assets and financial liabilities on the date the Company becomes a party to the contractual provisions of the instruments. A financial asset is derecognized either when the Company has transferred substantially all the risks and rewards of ownership of the financial asset or when cash flows expire. A financial liability is derecognized when the obligation specified in the contract is discharged, canceled or expired. Financial Assets Cash and cash equivalents are recorded at amortized cost using the effective interest method. Trade and other receivables are classified as financial assets at fair value through profit or loss and measured at fair value. Financial Liabilities Financial liabilities, including accounts payable and accrued liabilities, as well as debt and financing obligations are accounted for at amortized cost. Non-hedge derivatives The Company may hold derivative financial instruments to hedge its risk explosure to fluctuations in commodity prices. These derivative financial instruments are classified as financial instruments through profit or loss and recorded in the balance sheet at fair value. Changes in the estimated fair value of non-hedge derivatives at each reporting date are included in the Consolidated Statement of Incomes as derivative gain or loss.
Segment reporting	(f) Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker is responsible for allocating resources and assessing performance of the operating segments and has been identified as the President and Chief Executive Officer of the Company.
Inventories	(g) Inventories Inventories consist of concentrates, ore stockpiles, supplies and spare parts. Concentrates include stockpiled concentrates at milling operations or at warehouses. Stockpiled ore is comprised of in-process mineralized material awaiting processing at milling facilities and materials for use in milling operations. Concentrates and stockpiled ore are valued at the lower of average production cost and net realizable value (“NRV”). Concentrates and stockpiled ore inventory costs include all direct costs incurred in production including direct labor and materials, freight and amortization, and directly attributable overhead costs. NRV is calculated as the estimated price at the time of sale based on prevailing metal market prices less estimated future costs to convert the inventories into saleable form and estimated costs to sell. The supplies and spare parts inventories will be used for exploration and production and are valued at the lower of average cost and net realizable value. Cost includes acquisition, freight and other directly attributable costs. If the carrying value of inventory exceeds NRV, a write-down is recognized as production costs of sales in the consolidated statement of income (loss). If there is a subsequent increase in the value of the inventory, the previous write-downs to NRV are reversed up to cost to the extent that the related inventory has not been sold.
Exploration and evaluation expenditure	(h) Exploration and evaluation expenditure Exploration and evaluation expenditures are comprised of costs that are directly attributable to: · Researching and analysing existing exploration data; · Conducting geological studies, exploratory drilling and sampling; · Examining and testing extraction and treatment methods; and /or · Compiling pre-feasibility and feasibility studies Exploration expenditures are costs incurred in the search for resources suitable for commercial exploitation. Evaluation expenditures are costs incurred in determining the technical feasibility and commercial viability of a mineral resource. Exploration and evaluation expenditures are capitalized when there is a high degree of confidence in the project’s viability and thus it is probable that future economic benefits will flow to the Company. Any items of property, plant and equipment used for exploration and evaluation are capitalised within property, plant and equipment. Capitalized exploration and evaluation expenditures are considered to be tangible assets as they form part of the underlying mineral property and are recorded within property, plant and equipment - exploration and evaluation expenditures.
Property, plant and equipment	(i) Property, plant and equipment Property, plant and equipment is stated at cost, less accumulated depreciation and impairment losses. The cost of an item of property, plant and equipment comprises its purchase price, any costs directly attributable to bringing the assets to the location and condition necessary for it to be capable of operating in the manner intended by management and the estimated close down and restoration costs associated with the asset, and for qualifying assets, the associated borrowing costs. Once a mining project has been established as commercially viable, expenditure other than on land, buildings, plant and equipment is capitalized under ‘Mining properties’ together with any amount capitalized relating to that mining project from ‘Exploration and evaluation’. Where an item of property, plant and equipment is comprised of major components with different useful lives, the components are accounted for as separate items of property, plant and equipment and depreciated over their estimated useful lives. Costs associated with commissioning new assets, in the period before they are capable of operating in the manner intended by management, are capitalized. Revenue generated during the development stage from the sale of concentrate and related costs can be deducted from capitalized costs only if the production of the saleable material is directly attributable to bringing the asset to the condition necessary for it to be capable of operating in the manner intended by management. Development costs incurred after the commencement of production are capitalised to the extent they are expected to give rise to future economic benefits and these costs can be measured reliably. Repairs and maintenance costs are charged to the consolidated statement of income (loss) during the period in which they are incurred. Property, plant and equipment is depreciated over its useful life, or over the remaining life of the mine if shorter. Depreciation commences when the asset is available for use. Land is not depreciated. The major categories of property, plant and equipment are depreciated on a straight-line basis using the following average estimated useful lives below: Asset class Useful lives (years) Vehicle, furniture and other assets 3 to 10 Machinery and equipment 5 to 20 Buildings and other constructions 5 to 50 Mining properties are depleted over the life of the mine using the units of production method. In applying the units of production method, depletion is normally calculated using the quantity of material to be extracted in current and future periods based on proven and probable reserves or measured and indicated resources. Such non-reserve material may be included in depletion calculations in limited circumstances and where there is a high degree of confidence in its economic extraction. The Company conducts an annual review of residual values, useful lives, depletion and depreciation methods used for property, plant and equipment. Changes to estimated residual values or useful lives are accounted for prospectively.
Impairment of non-financial assets	(j) Impairment of non-financial assets Property, plant and equipment and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Impairment is assessed at the level of cash generating units (‘CGUs’). The recoverable amount is the higher of an asset’s fair value less costs to sell or value in use. Fair value less costs to sell is determined as the amount that would be obtained from the sale of the asset in an arm’s length transaction. The best evidence of fair value is the value obtained from an active market or binding sales agreement. Where this information is not available, fair value can be estimated as the present value of future cash flows expected to be realized from the continued use of the asset including expansion projects. Value in use is determined as the present value of expected future cash flows to be realized from the continued use of the asset in its present condition and from its ultimate disposal. Capitalized exploration expenditures are reviewed for indicators of impairment, which included a decision to discontinue activities in a specific area and the existence of sufficient data indicating that the carrying amount of an exploration and evaluation asset is unlikely to be recovered from the development or sale of the asset. Non-financial assets that have suffered impairment are tested for possible reversal of the impairment whenever events or changes in circumstances indicate that the impairment may have reversed.
Borrowing costs	(k) Borrowing costs Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets are capitalized and included in the carrying amounts of those assets until they are ready for their intended use. All other borrowing costs are recognized as an expense in the period incurred.
Revenue recognition	(l) Revenue recognition Revenues include sales of metal concentrates net of treatment and refining charges. The Company sells concentrate from certain of its mines to third-party smelter customers. These concentrates predominantly contain zinc, lead, and copper, along with quantities of gold and silver. The Company recognizes revenue from these concentrate sales when control of the concentrate has transferred to the customer, which is the point in time that the concentrate is delivered to the customer. Upon delivery, the customer has legal right to, physical possession of, and the risks and rewards of ownership of the concentrate. The customer is also committed to accept and pay for the concentrates once delivered; therefore, the customer is able to direct the use of and obtain substantially all of the remaining benefits from the concentrate. The final prices for metals contained in the concentrate are generally determined based on the prevailing spot market metal prices on a specific future date, which is established on a date prior to the concentrate being delivered to the customer. Upon transfer of control at delivery, the Company measures revenue under these contracts based on forward prices agreed upon with the customer at the time of delivery and the most recent determination of the quantity of contained metals less smelting and refining charges charged by the customer. This reflects the best estimate of the transaction price expected to be received at final settlement. The variability associated with the embedded derivative for changes in the metal prices is recognized at fair value. These changes in the fair value of the receivable are adjusted through revenue from other sources at each subsequent financial statement date.
Leases	(m) Leases At inception of a contract, the Company assesses whether a contract is, or contains, a lease by determining whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. A right-of-use ("ROU") asset and lease liability is recognized at the lease commencement date. The ROU asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred, less any lease incentives received. The right-of-use asset is subsequently depreciated from the commencement date to the earlier of the end of the lease term, or the end of the useful life of the asset. In addition, the right-of-use asset may be reduced due to impairment losses, if any, and adjusted for certain remeasurements of the lease liability. A lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by the interest rate implicit in the lease, or if that rate cannot be readily determined, the incremental borrowing rate. Lease payments included in the measurement of the lease liability are comprised of: · fixed payments, including in-substance fixed payments, less any lease incentives receivable; · variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date; · amounts expected to be payable under a residual value guarantee; · exercise prices of purchase options if we are reasonably certain to exercise that option; and · payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease. The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, or if there is a change in our estimate or assessment of the expected amount payable under a residual value guarantee, purchase, extension or termination option. Variable lease payments not included in the initial measurement of the lease liability are charged directly to profit.
Share capital	(n) Share capital Common shares are classified as equity. Incremental costs directly attributable to the issuance of the shares are recognized as a deduction from equity.
Share-based payments	(o) Share-based payments The fair value of the estimated number of stock options and restricted share units (“RSUs”) awarded to employees, officers and directors that will eventually vest, determined as of the date of grant, is recognized as share-based compensation expense over the vesting period of the stock options and RSUs, with a corresponding increase to equity. The fair value of each tranche is determined using the Black-Scholes option pricing model with market related inputs as of the date of grant. The fair value of RSUs is the market value of the underlying shares as of the date of grant. The number of awards expected to vest is reviewed at least annually, with any change in the estimate recognized immediately in share-based payments expense with a corresponding adjustment to equity.
Share repurchases	(p) Share repurchases The Company deducts from contributed surplus any excess of consideration paid over book value where the Company has repurchased any of its own common shares. Book value is calculated as the weighted average price of the shares issued and outstanding prior to the cancellation date.
Earnings per share	(q) Earnings per share Basic earnings per share (“EPS”) is calculated by dividing the net income for the period attributable to the shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted EPS is calculated by adjusting the weighted average number of common shares outstanding for dilutive instruments. The number of shares included with respect to options, warrants and similar instruments is computed using the treasury stock method. The Company’s potentially dilutive common shares comprise stock options and RSUs granted to employees. In periods of loss, basic and diluted EPS are the same, as the effect of dilutive instruments is anti-dilutive.
Income taxes	(r) Income taxes Tax expense comprises current and deferred income and resource taxes. Current income, deferred income and resources taxes are recognized in profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or in other comprehensive income. Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognized for the following temporary differences: the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss, and differences relating to investments in subsidiaries and jointly controlled entities to the extent that the parent is able to control the timing of the reversal of the temporary difference and it is probable that they will not reverse in the foreseeable future. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis, or their tax assets and liabilities will be realized simultaneously. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.
Decommissioning and restoration liabilities	(s) Decommissioning and restoration liabilities Decommissioning and restoration costs include the dismantling and demolition of infrastructure, the removal of residual materials and the remediation of disturbed areas. These costs are a normal consequence of mining activity and the majority of these expenditures are expected to be incurred at the end of the life of mine. Estimated decommissioning and restoration costs are provided in the accounting period when the obligation arising from the related disturbance occurs, based on the net present value of the estimated future costs discounted using the credit adjusted risk free rate. This provision is adjusted in each reporting period to reflect known developments, e.g. revisions to costs estimates and the timing of cash outflows. The initial decommissioning and restoration provision together with other movements resulting from changes in estimated cash flows or the credit adjusted risk free rates is capitalized within property, plant and equipment and amortized over the life of the asset to which it relates except where it relates to a closed mine where the expenses are recognized in the statement of loss. Provision is made for the estimated present value of costs of environmental clean-up obligations outstanding as at the date of the statement of financial position, and these costs are charged to the income statement as an operating cost. The amortization or unwinding of the discount applied in establishing the net present value of provision is accreted to the income statement in each accounting period with each interest charge included as a financing cost rather than as an operating cost.

Significant accounting polici_3

Significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure Of Significant Accounting Policies [Abstract]
Schedule of subsidiaries of the company and their geographical locations	The principal subsidiaries of the Company and their geographical locations as at December 31, 2020 and 2019 are as follows: Name of the subsidiary Ownership interest Location Dia Bras EXMIN Resources Inc. 100% Canada Sociedad Minera Corona, S. A. (“Corona”) 1 81.84% Perú Dia Bras Peru, S. A. C. (“Dia Bras Peru”) 1 100% Perú Dia Bras Mexicana, S. A. de C. V. (“Dia Bras Mexicana”) 100% México Servicios de Minería de la Sierra, S. A. de C. V. 100% México Bolívar Administradores, S. A. de C. V. 100% México EXMIN, S. A. de C. V. 100% México Servicios de Produccion Y Extraccion de Chihuahua, S.A. de C.V 100% México Asesores Administrativos Y de Recursos Humanos, S.A. de C.V 100% México 1 The Company, through its wholly owned subsidiary Dia Bras Peru, holds an 81.84% interest in Corona, which represents 92.33% of the voting shares. The Company consolidates Corona's financial results and records a non-controlling interest for the 18.16% that it does not own.
Schedule of average estimated useful lives of property, plant and equipment	The major categories of property, plant and equipment are depreciated on a straight-line basis using the following average estimated useful lives below: Asset class Useful lives (years) Vehicle, furniture and other assets 3 to 10 Machinery and equipment 5 to 20 Buildings and other constructions 5 to 50

Trade and other receivables (Ta

Trade and other receivables (Tables)	12 Months Ended
	Dec. 31, 2020
Trade and other receivables [abstract]
Schedule of trade and other receivables	December 31, December 31, 2020 2019 $ $ Trade receivables 28,750 20,549 Sales tax and other receivables 9,944 11,343 38,694 31,892

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2020
Inventories [Abstract]
Schedule of inventories	December 31, December 31, 2020 2019 $ $ Stockpiles 1,047 4,096 Concentrates 4,185 4,376 Supplies and spare parts 18,244 17,581 23,476 26,053

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about property, plant and equipment [abstract]
Schedule of property, plant and equipment	Exploration Plant and Mining Assets under and evaluation equipment properties construction expenditure Total Cost $ $ $ $ $ Balance as of January 1, 2019 239,921 436,810 47,482 64,524 788,737 Additions 14,455 6,249 26,046 8,751 55,501 Change in estimate of decomissioning liability 3,713 - - - 3,713 Disposals (11,768 ) - (28 ) - (11,796 ) Transfers 23,348 4,016 (23,348 ) (4,016 ) - Balance as of December 31, 2019 269,669 447,075 50,152 69,259 836,155 Additions 5,180 6,348 13,218 11,184 35,930 Change in estimate of decomissioning liability 5,427 - - - 5,427 Disposals (4,514 ) - - (2,032 ) (6,546 ) Transfers 24,783 25,979 (10,909 ) (39,853 ) - Balance as of December 31, 2020 300,545 479,402 52,461 38,558 870,966 Exploration Plant and Mining Assets under and evaluation equipment properties construction expenditure Total Accumulated depreciation $ $ $ $ $ Balance as of January 1, 2019 156,223 335,960 - 13,041 505,224 Depletion, depreciation and amortization 21,447 15,093 - - 36,540 Disposals (10,724 ) - - - (10,724 ) Balance as of December 31, 2019 166,946 351,053 - 13,041 531,040 Depletion, depreciation and amortization 27,475 13,958 - - 41,433 Disposals (3,293 ) - - - (3,293 ) Transfers 12,310 731 - (13,041 ) - Balance as of December 31, 2020 203,438 365,742 - - 569,180 Net Book Value - December 31, 2020 97,107 113,660 52,461 38,558 301,786 Net Book Value - December 31, 2019 102,723 96,022 50,152 56,218 305,115 Net Book Value - December 31, 2018 83,698 100,850 47,482 51,483 283,513

Accounts payable and accrued _2

Accounts payable and accrued liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Trade and other current payables [abstract]
Schedule of accounts payable and accrued liabilities	December 31, December 31, 2020 2019 $ $ Trade payables 16,949 30,422 Other payables and accrued liabilities 13,368 14,488 30,317 44,910

Current and deferred income t_2

Current and deferred income tax liability (Tables)	12 Months Ended
	Dec. 31, 2020
Current And Deferred Income Tax Liability [Abstract]
Schedule of income and resource taxes	2020 2019 $ $ Current Tax Expense Current income tax 20,535 17,416 20,535 17,416 Deferred Tax Recovery Deferred Tax Expense (recovery) 2,051 (4,888 ) 2,051 (4,888 ) Total tax expense 22,586 12,528
Schedule of reconciliation between income tax expense and the product of loss	A reconciliation between income tax expense and the product of loss before income taxes multiplied by the combined Canadian federal and provincial income tax rate for the period ended December 31, 2020 is as follows: 2020 2019 $ $ Income before income taxes 49,977 21,945 Expected Tax Rate 26.50% (2019 - 26.50%) 13,244 5,776 Effect of tax rate differences 1,838 567 Stock based compensation costs 177 291 Other Non-deductible expenses 909 616 Unrealized foreign exchange income (175 ) 412 Inflation adjustment for Mexico tax purposes 150 (224 ) Expired losses - 720 Change in benefit of other temporary differences not recognized 3,896 1,925 Foreign exchange and other (3,326 ) (1,391 ) Mining royalties and other 5,873 3,836 22,586 12,528
Schedule of temporary differences and components and movements of net deferred tax assets and liabilities	The significant components and movements of the Company’s net deferred tax assets and liabilities are as follows: Balance Balance Balance January 1, Change in December 31, Change in December 31, $ $ $ $ $ Property, Plant, and equipment (1,666 ) 850 (816 ) 341 (475 ) Inventory (2,098 ) 920 (1,178 ) (2,892 ) (4,070 ) Provisions 2,756 970 3,726 (194 ) 3,532 Decommissioning liabilities 3,904 1,098 5,002 1,632 6,634 Mining royalties 1,464 151 1,615 103 1,718 Mining assets (41,965 ) (589 ) (42,554 ) 157 (42,397 ) Other items 316 1,982 2,298 (1,000 ) 1,298 Non-capital losses 6,552 (266 ) 6,286 (672 ) 5,614 (30,737 ) 5,116 (25,621 ) (2,525 ) (28,146 ) Deferred tax assets have not been recognized in respect of the following temporary differences: 2020 2019 $ $ Non-capital and capital losses 62,250 46,364 Property, plant and equipment 83 49 Mineral properties 2,280 2,236 Other (37 ) (56 ) 64,576 48,593

Loans payable and notes payab_2

Loans payable and notes payable (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about borrowings [abstract]
Schedule of loans payable	December 31, December 31, 2020 2019 $ $ Senior Secured Corporate Credit Facility with Banco de Credito del Peru Current Portion 18,480 - Long term Portion 80,903 99,814 99,383 99,814

Decommissioning liability (Tabl

Decommissioning liability (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of other provisions [abstract]
Schedule of decommissioning liability	December 31, December 31, 2020 2019 $ $ Balance, beginning of year 16,894 13,304 Liabilities settled during the year (405 ) (914 ) Interest cost 551 647 Revisions and new estimated cash flows 5,427 3,857 Balance, end of year 22,467 16,894 Current portion 1,260 865 Long-term portion 21,207 16,029
Schedule of key assumptions of calculation of decommissioning liability	During 2020 and 2019, the decommissioning liability was calculated based on the following key assumptions: 2020 2019 Mexico Peru Mexico Peru Estimated undiscounted cash flows ($) 1,182 24,297 949 20,249 Discount rate (%) 5.6 4.1 7.0 5.0 Settlement period (years) 4 3-14 4 4-15 Inflation (%) 4.0 2.0 4.0 2.0

Other liabilities (Tables)

Other liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure Of Other Liabilities Abstract
Schedule of other liabilities	December 31, December 31, 2020 2019 $ $ Current Profit-sharing and other employee related obligations (a) 7,267 7,248 Current portion of lease liabilities 295 - 7,562 7,248 Non-current Other employee related obligations 1,426 1,297 Lease Liabiilities 781 257 2,207 1,554

Share capital and share-based_2

Share capital and share-based payments (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Schedule of changes in RSU's issued	The changes in RSU’s issued during the years ended December 31, 2020 and 2019 was as follows: December 31, December 31, 2020 2019 Outstanding, beginning of period 1,630,423 1,380,085 Granted 898,857 1,356,418 Exercised (695,174 ) (700,698 ) Forfeited (425,048 ) (405,382 ) Outstanding, end of period 1,409,058 1,630,423

Non-controlling interest (Table

Non-controlling interest (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure Of Non Controlling Interest [Abstract]
Schedule of non-controlling interest	Set out below is the summarized financial information of our subsidiary Corona which has a material non-controlling interest (note 2(b)). The information below is before intercompany eliminations and after fair value adjustments on acquisition of the entity. December 31, December 31, 2020 2019 $ $ Current Assets 118,045 90,438 Liabilities (26,890 ) (27,863 ) Total current net assets 91,155 62,575 Non-current Assets 170,277 171,884 Liabilities (45,145 ) (39,915 ) Total non-current net assets 125,132 131,969 Net assets 216,287 194,544 For the year ended December 31, 2020 2019 $ $ Revenue 146,941 155,983 Income before income tax  39,809 41,796 Income tax expense (17,934 ) (14,338 ) Total income 21,875 27,458 Total income attributable to non-controlling interests 3,972 4,986 Summarized cash flows For the year ended December 31, 2020 2019 $ $ Cash flows from operating activities Cash generated from operating activities 64,797 63,887 Net changes in non cash working capital items (2,992 ) (2,895 ) Decomissioning liabilities settled (405 ) (915 ) Income taxes paid (12,824 ) (21,885 ) Net cash generated from operating activities 48,576 38,192 Net cash used in investing activities (19,205 ) (25,882 ) Net cash from (used in) financing activities 705 4,775 Effect of foreign exchange rate changes on cash and cash equivalents (53 ) 21 Increase in cash and cash equivalents 30,023 17,106 Cash and cash equivalents, beginning of period 35,004 17,898 Cash and cash equivalents, end of period 65,027 35,004

Expenses by nature (Tables)

Expenses by nature (Tables)	12 Months Ended
	Dec. 31, 2020
Expenses by nature [abstract]
Schedule of mining cost	Year ended December 31, 2020 2019 $ $ Employee compensation and benefits 26,472 28,986 Third party and contractors costs 52,616 60,905 Depreciation 41,654 36,084 Consumables 30,850 39,515 Changes in inventory and other costs 13,711 5,786 165,303 171,276
Schedule of general and administrative expenses	2020 2019 $ $ Salaries and benefits 10,835 9,763 Consulting and professional fees 2,922 2,705 Office expenses 2,182 1,539 Marketing and communication expenses 815 807 Share-based compensation expense 668 1,174 Listing and filing fees 257 318 Director expenses 1,307 1,282 Travelling expense 237 596 Other 1,047 1,331 20,270 19,515

Other income (expenses) (Tables

Other income (expenses) (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure Of Other Income Expenses [Abstract]
Schedule of other income (expenses)	2020 2019 $ $ Loss on sale of supplies and fixed assets (124 ) (162 ) Exploration expenditure written off (1,829 ) - Allowance for inventory obsolescence (176 ) (238 ) Miscellaneous income (expense) 1,464 (310 ) (665 ) (710 )

Interest expense and other fi_2

Interest expense and other finance costs (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure Of Interest Expense And Other Finance Costs [Abstract]
Schedule of interest expense and other finance costs	2020 2019 $ $ Interest expense on loans 4,046 4,431 Interest cost on decommissioning liability 547 647 Interest income (300 ) (203 ) 4,293 4,875

Segment reporting (Tables)

Segment reporting (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of operating segments [abstract]
Schedule of summary of the reported amounts of net income (loss) and the carrying amounts of assets and liabilities	The following is a summary of the reported amounts of net income (loss) and the carrying amounts of assets and liabilities by operating segment: Peru Mexico Mexico Canada Yauricocha Mine Bolivar Mine Cusi Mine Corporate Total Year ended December 31, 2020 $ $ $ $ $ Revenue (1) 146,941 81,762 18,185 - 246,888 Production cost of sales (70,660 ) (37,319 ) (15,670 ) - (123,649 ) Depletion of mineral property (8,503 ) (3,873 ) (2,063 ) - (14,439 ) Depreciation and amortization of property, plant and equipment (13,455 ) (10,320 ) (3,440 ) - (27,215 ) Cost of sales (92,618 ) (51,512 ) (21,173 ) - (165,303 ) Gross profit from mining operations 54,323 30,250 (2,988 ) - 81,585 Income (loss) from operations 40,179 19,953 (4,725 ) (4,287 ) 51,120 Derivative instrument gains - - 904 - 904 Interest expense and other finance costs (2,965 ) 18 (105 ) (1,241 ) (4,293 ) Other income (expense) (2,476 ) 1,573 238 - (665 ) Foreign currency exchange gain 329 1,575 345 662 2,911 Income (loss) before income tax 35,067 23,119 (3,343 ) (4,866 ) 49,977 Income tax expense (17,934 ) (3,797 ) (855 ) - (22,586 ) Net income (loss) from operations 17,133 19,322 (4,198 ) (4,866 ) 27,391 December 31, 2020 Peru Mexico Canada Total $ $ $ $ Total assets 269,179 167,866 2,547 439,592 Non-current assets 170,681 132,822 40 303,543 Total liabilities 141,548 26,952 30,884 199,384 (1) Includes provisional pricing adjustments of: $2,899 for Yauricocha, ($889) for Bolivar, $1,180 for Cusi Peru Mexico Mexico Canada Yauricocha Mine Bolivar Mine Cusi Mine Corporate Total Year ended December 31, 2019 $ $ $ $ $ Revenue (1) 155,983 60,402 12,653 - 229,038 Production cost of sales (79,339 ) (45,491 ) (10,362 ) - (135,192 ) Depletion of mineral property (10,631 ) (2,177 ) (2,314 ) - (15,122 ) Depreciation and amortization of property, plant and equipment (10,346 ) (8,147 ) (2,469 ) - (20,962 ) Cost of sales (100,316 ) (55,815 ) (15,145 ) - (171,276 ) Gross profit from mining operations 55,667 4,587 (2,492 ) - 57,762 Income (loss) from operations 39,879 (4,918 ) (1,079 ) (5,376 ) 28,506 Interest expense and other finance costs (4,422 ) (34 ) (8 ) (412 ) (4,875 ) Other income (expense) (839 ) 105 25 (710 ) Foreign currency exchange loss (170 ) (21 ) (5 ) (780 ) (976 ) Income (loss) before income tax 34,448 (4,868 ) (1,067 ) (6,568 ) 21,945 Income tax (expense) recovery (14,297 ) 1,450 319 - (12,528 ) Net income (loss) from operations 20,151 (3,418 ) (748 ) (6,568 ) 9,417 December 31, 2019 Peru Mexico Canada Total $ $ $ $ Total assets 241,839 162,657 6,951 411,447 Non-current assets 175,246 131,810 91 307,147 Total liabilities 137,146 31,130 31,152 199,428 (1) Includes provisional pricing adjustments of: $216 for Bolivar

Financial instruments and fin_2

Financial instruments and financial risk management (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about financial instruments [line items]
Schedule of financial assets and liabilities by category	At December 31, 2020 Amortized FVTPL Total $ $ $ Financial assets Cash and cash equivalents 71,473 - 71,473 Trade receivables (1) - 28,750 28,750 Total Financial assets 71,473 28,750 100,223 Financial liabilities Accounts payable 30,317 - 30,317 Loans payable 99,383 - 99,383 Total Financial liabilities 129,700 - 129,700 At December 31, 2019 Amortized FVTPL Total $ $ $ Financial assets Cash and cash equivalents 42,980 - 42,980 Trade receivables (1) - 20,549 20,549 Total Financial assets 42,980 20,549 63,529 Financial liabilities Accounts payable 44,910 - 44,910 Loans payable 99,814 - 99,814 Total Financial liabilities 144,724 - 144,724 (1)
Schedule of fair value measurements of assets	At December 31, 2020 and 2019, the levels in the fair value hierarchy into which the Company’s financial assets and liabilities are measured and recognized on the Consolidated Statement of Financial Position are categorized as follows: Recurring measurements Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total $ $ $ $ $ $ $ $ Trade receivables (1) - 28,750 - 28,750 - 20,549 - 20,549 - 28,750 - 28,750 - 20,549 - 20,549 (1)
Currency risk
Disclosure of detailed information about financial instruments [line items]
Schedule of exposure to risks	The following are the most significant areas of exposure to currency risk: December 31, 2020 CAN dollar Mexican Peruvian Total $ Cash and cash equivalents 179 1,706 1,625 3,510 Income tax and other receivables 39 13,371 723 14,133 218 15,077 2,348 17,643 Accounts payable and other liabilities (885 ) (27,009 ) (16,438 ) (44,332 ) Total (667 ) (11,932 ) (14,090 ) (26,689 ) December 31, 2019 CAN dollar Mexican Peruvian Total $ Cash and cash equivalents 113 73 2,473 2,659 Income tax and other receivables 45 13,262 1,683 14,990 158 13,335 4,156 17,649 Accounts payable and other liabilities (724 ) (30,208 ) (15,357 ) (46,289 ) Total (566 ) (16,873 ) (11,201 ) (28,640 )
Credit risk
Disclosure of detailed information about financial instruments [line items]
Schedule of exposure to risks	The Company’s exposure to commodity price risk is as follows: 2020 2019 Commodity $ $ 10% decrease in silver prices (471 ) (97 ) 10% decrease in copper prices (743 ) - 10% decrease in zinc prices (354 ) - 10% decrease in lead prices (105 ) - 10% decrease in gold prices (928 ) (323 )
Commodity price risk
Disclosure of detailed information about financial instruments [line items]
Schedule of exposure to risks	The Company’s maximum exposure to credit risk is as follows: December 31, December 31, 2020 2019 $ $ Cash and cash equivalents 71,473 42,980 Trade receivables 28,750 20,549 100,223 63,529
Liquidity risk
Disclosure of detailed information about financial instruments [line items]
Schedule of remaining contractual maturities and undiscounted cash flows	The following table summarizes the remaining contractual maturities and undiscounted cash flows as at December 31, 2020 of the Company’s financial liabilities and operating and capital commitments: Within 1 year 1-2 years 3-5 years After 5 years As at December 31, 2020 $ $ $ $ $ Accounts payable and accrued liabilities 30,317 - - - 30,317 Loans payable 18,750 25,000 56,250 - 100,000 Interest on loans payable 3,334 2,513 2,464 - 8,311 Asset retirement obligations 1,284 4,816 4,819 14,321 25,240 Other liabilities 7,562 2,207 - - 9,769 Total Commitments 61,247 34,536 63,533 14,321 173,637

Capital management (Tables)

Capital management (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of objectives, policies and processes for managing capital [abstract]
Schedule of capital of the Company	The capital of the Company consists of items included in equity attributable to owners of the Company and debt, net of cash and cash equivalents as follows: December 31, December 31, 2020 2019 $ $ Equity attributable to owners of the Company 201,000 176,783 Loans payable 99,383 99,814 300,383 276,597 Less: Cash and cash equivalents (71,473 ) (42,980 ) 228,910 233,617

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Dec. 31, 2020
Related party transactions [abstract]
Schedule of remuneration to directors and key management personnel	The remuneration of the Company’s directors, officers and other key management personnel during the years ended December 31, 2020 and 2019 are as follows: 2020 2019 $ $ Salaries and other short term employment benefits 2,289 3,304 Share-based payments 496 1,581 Total compensation 2,785 4,885 (1) calculated at fair value on day of the grant

Changes in working capital (Tab

Changes in working capital (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of changes in working capital [Abstract]
Schedule of changes in working capital	Year ended December 31, 2020 2019 $ $ Trade and other receivables (6,802 ) (5,885 ) Financial and other assets (63 ) (563 ) Income tax receivable - (282 ) Inventories 670 (3,849 ) Accounts payable and accrued liabilities (12,600 ) 6,752 Other liabilities 556 147 (18,239 ) (3,680 )

Revenues from mining operatio_2

Revenues from mining operations (Tables)	12 Months Ended
	Dec. 31, 2020
Revenues From Mining Operations [Abstract]
Schedule of revenue in consolidated statements of income	The Company has recognized the following amounts related to revenue in the consolidated statements of income: Year Ended Year Ended December 31, 2020 December 30, 2019 $ $ Revenues from contracts with customers 243,698 228,822 Provisional pricing adjustments on concentrate sales 3,190 216 Total revenues 246,888 229,038

Description of business and n_2

Description of business and nature of operations (Detail Textuals)	12 Months Ended
	Dec. 31, 2020
Yauricocha Mine
Description Of Business And Nature Of Operations Disclosure [Line Items]
Percentage of owned interest	81.84%
Bolivar
Description Of Business And Nature Of Operations Disclosure [Line Items]
Percentage of owned interest	100.00%
Cusi Mines
Description Of Business And Nature Of Operations Disclosure [Line Items]
Percentage of owned interest	100.00%

Significant accounting polici_4

Significant accounting policies (Details)		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Dia Bras EXMIN Resources Inc.
Disclosure of subsidiaries [line items]
Ownership interest		100.00%	100.00%
Location		Canada	Canada
Sociedad Minera Corona, S. A. ("Corona")
Disclosure of subsidiaries [line items]
Ownership interest	[1]	81.84%	81.84%
Location	[1]	Peru	Peru
Dia Bras Peru S. A. C. ("Dia Bras Peru")
Disclosure of subsidiaries [line items]
Ownership interest	[1]	100.00%	100.00%
Location	[1]	Peru	Peru
Dia Bras Mexicana S. A. de C. V. ("Dia Bras Mexicana")
Disclosure of subsidiaries [line items]
Ownership interest		100.00%	100.00%
Location		Mexico	Mexico
Servicios de Mineria de la Sierra, S. A. de C. V.
Disclosure of subsidiaries [line items]
Ownership interest		100.00%	100.00%
Location		Mexico	Mexico
Bolivar Administradores, S. A. de C. V.
Disclosure of subsidiaries [line items]
Ownership interest		100.00%	100.00%
Location		Mexico	Mexico
EXMIN, S. A. de C. V.
Disclosure of subsidiaries [line items]
Ownership interest		100.00%	100.00%
Location		Mexico	Mexico
Servicios de Produccion Y Extraccion de Chihuahua, S.A. de C.V
Disclosure of subsidiaries [line items]
Ownership interest		100.00%	100.00%
Location		Mexico	Mexico
Asesores Administrativos Y de Recursos Humanos, S.A. de C.V
Disclosure of subsidiaries [line items]
Ownership interest		100.00%	100.00%
Location		Mexico	Mexico
[1]	The Company, through its wholly owned subsidiary Dia Bras Peru, holds an 81.84% interest in Corona, which represents 92.33% of the voting shares. The Company consolidates Corona's financial results and records a non-controlling interest for the 18.16% that it does not own.

Significant accounting polici_5

Significant accounting policies (Details 1)	12 Months Ended
	Dec. 31, 2020
Vehicles, furniture and other assets
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	3 to 10 years
Machinery and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	5 to 20 years
Bulidings and other constructions
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	5 to 50 years

Significant accounting polici_6

Significant accounting policies (Detail Textuals)	12 Months Ended
	Dec. 31, 2020
Disclosure of subsidiaries [line items]
Depreciation method	straight-line basis
Corona
Disclosure of subsidiaries [line items]
Ownership interest through Dia Bras Peru	81.84%
Percentage of voting shares in subsidiary	92.33%

Trade and other receivables (De

Trade and other receivables (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Trade and other receivables [abstract]
Trade receivables	[1]	$ 28,750	$ 20,549
Sales tax and other receivables		9,944	11,343
Total		$ 38,694	$ 31,892
[1]	Trade receivables exclude sales and income tax receivables.

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Inventories [Abstract]
Stockpiles	$ 1,047	$ 4,096
Concentrates	4,185	4,376
Supplies and spare parts	18,244	17,581
Total	$ 23,476	$ 26,053

Inventories (Detail Textuals)

Inventories (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Inventories Line Items [Line Items]
Cost of inventories recognised as expense	$ 165,303	$ 171,276
Provision for inventory write off	3,808	3,632
Inventory write-down	1,248	804
Stockpile and concentrate
Inventories Line Items [Line Items]
Inventories, at net realisable value		$ 468

Property, plant and equipment_2

Property, plant and equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [line items]
Balance	$ 305,115	$ 283,513
Additions
Balance	301,786	305,115	283,513
Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Balance	836,155	788,737
Additions	35,930	55,501
Change in estimate of decomissioning liability	5,427	3,713
Disposals	(6,546)	(11,796)
Transfers
Balance	870,966	836,155	788,737
Accumulated depreciation, amortisation
Disclosure of detailed information about property, plant and equipment [line items]
Balance	531,040	505,224
Depletion, depreciation and amortization	41,433	36,540
Disposals	(3,293)	(10,724)
Transfers
Balance	569,180	531,040	505,224
Plant and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Balance	102,723	83,698
Balance	97,107	102,723	83,698
Plant and equipment | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Balance	269,669	239,921
Additions	5,180	14,455
Change in estimate of decomissioning liability	5,427	3,713
Disposals	(4,514)	(11,768)
Transfers	24,783	23,348
Balance	300,545	269,669	239,921
Plant and equipment | Accumulated depreciation, amortisation
Disclosure of detailed information about property, plant and equipment [line items]
Balance	166,946	156,223
Depletion, depreciation and amortization	27,475	21,447
Disposals	(3,293)	(10,724)
Transfers	12,310
Balance	203,438	166,946	156,223
Mining properties
Disclosure of detailed information about property, plant and equipment [line items]
Balance	96,022	100,850
Balance	113,660	96,022	100,850
Mining properties | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Balance	447,075	436,810
Additions	6,348	6,249
Change in estimate of decomissioning liability
Disposals
Transfers	25,979	4,016
Balance	479,402	447,075	436,810
Mining properties | Accumulated depreciation, amortisation
Disclosure of detailed information about property, plant and equipment [line items]
Balance	351,053	335,960
Depletion, depreciation and amortization	13,958	15,093
Disposals
Transfers	731
Balance	365,742	351,053	335,960
Assets under construction
Disclosure of detailed information about property, plant and equipment [line items]
Balance	50,152	47,482
Balance	52,461	50,152	47,482
Assets under construction | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Balance	50,152	47,482
Additions	13,218	26,046
Change in estimate of decomissioning liability
Disposals		(28)
Transfers	(10,909)	(23,348)
Balance	52,461	50,152	47,482
Assets under construction | Accumulated depreciation, amortisation
Disclosure of detailed information about property, plant and equipment [line items]
Balance
Depletion, depreciation and amortization
Disposals
Transfers
Balance
Exploration and evaluation expenditure
Disclosure of detailed information about property, plant and equipment [line items]
Balance	56,218	51,483
Balance	38,558	56,218	51,483
Exploration and evaluation expenditure | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Balance	69,259	64,524
Additions	11,184	8,751
Change in estimate of decomissioning liability
Disposals	(2,032)
Transfers	(39,853)	(4,016)
Balance	38,558	69,259	64,524
Exploration and evaluation expenditure | Accumulated depreciation, amortisation
Disclosure of detailed information about property, plant and equipment [line items]
Balance	13,041	13,041
Depletion, depreciation and amortization
Disposals
Transfers	(13,041)
Balance		$ 13,041	$ 13,041

Accounts payable and accrued _3

Accounts payable and accrued liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Trade and other current payables [abstract]
Trade payables	$ 16,949	$ 30,422
Other payables and accrued liabilities	13,368	14,488
Accounts payable and accrued liabilities	$ 30,317	$ 44,910

Current and deferred income t_3

Current and deferred income tax liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Current Tax Expense
Current income tax	$ 20,535	$ 17,416
Total Current Tax Expense	20,535	17,416
Deferred Tax Recovery
Deferred Tax Expense (recovery)	2,051	(4,888)
Total Deferred Tax Expense (recovery)	2,051	(4,888)
Total tax expense	$ 22,586	$ 12,528

Current and deferred income t_4

Current and deferred income tax liability (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Current And Deferred Income Tax Liability [Abstract]
Income before income taxes	$ 49,977	$ 21,945
Expected Tax Rate @ 26.50% (2019 - 26.50%)	13,244	5,776
Effect of Tax Rate Differences	1,838	567
Stock Based Compensation Costs	177	291
Other non-deductible expenses	909	616
Unrealized foreign exchange income	(175)	412
Inflation adjustment for Mexico tax purposes	150	(224)
Expired losses		720
Change in benefit of other temporary differences not recognized	3,896	1,925
Foreign exchange and Other	(3,326)	(1,391)
Mining Royalties	5,873	3,836
Income tax expense	$ 22,586	$ 12,528

Current and deferred income t_5

Current and deferred income tax liability (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Deferred Income Taxes [Roll Forward]
Begining Balance	$ (25,621)	$ (30,737)
Change in deferred tax liability	(2,525)	5,116
Ending Balance	(28,146)	(25,621)
Property, Plant, and equipment
Disclosure Of Deferred Income Taxes [Roll Forward]
Begining Balance	(816)	(1,666)
Change in deferred tax liability	341	850
Ending Balance	(475)	(816)
Inventory
Disclosure Of Deferred Income Taxes [Roll Forward]
Begining Balance	(1,178)	(2,098)
Change in deferred tax liability	(2,892)	920
Ending Balance	(4,070)	(1,178)
Provisions
Disclosure Of Deferred Income Taxes [Roll Forward]
Begining Balance	3,726	2,756
Change in deferred tax liability	(194)	970
Ending Balance	3,532	3,726
Decommissioning liabilities
Disclosure Of Deferred Income Taxes [Roll Forward]
Begining Balance	5,002	3,904
Change in deferred tax liability	1,632	1,098
Ending Balance	6,634	5,002
Mining royalties
Disclosure Of Deferred Income Taxes [Roll Forward]
Begining Balance	1,615	1,464
Change in deferred tax liability	103	151
Ending Balance	1,718	1,615
Mining assets
Disclosure Of Deferred Income Taxes [Roll Forward]
Begining Balance	(42,554)	(41,965)
Change in deferred tax liability	157	(589)
Ending Balance	(42,397)	(42,554)
Other Items
Disclosure Of Deferred Income Taxes [Roll Forward]
Begining Balance	2,298	316
Change in deferred tax liability	(1,000)	1,982
Ending Balance	1,298	2,298
Non-capital losses
Disclosure Of Deferred Income Taxes [Roll Forward]
Begining Balance	6,286	6,552
Change in deferred tax liability	(672)	(266)
Ending Balance	$ 5,614	$ 6,286

Current and deferred income t_6

Current and deferred income tax liability (Details 3) - Temporary differences - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Non-capital and capital losses	$ 62,250	$ 46,364
Property, plant and equipment	83	49
Mineral properties	2,280	2,236
Other	(37)	(56)
TOTAL	$ 64,576	$ 48,593

Current and deferred income t_7

Current and deferred income tax liability (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Current And Deferred Income Tax Liability [Abstract]
Unrealized aggregate tax losses	$ 37,771	$ 30,517
Capital losses without expiry	1,403	1,403
Taxable temporary difference of investments in subsidiaries that has not been recognized	$ 77,582	$ 77,703
Applicable tax rate	26.50%	26.50%

Loans payable and notes payab_3

Loans payable and notes payable (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [abstract]
Current Postion	$ 18,480
Long term portion	80,903	99,814
Total loans payable	$ 99,383	$ 99,814

Loans payable and notes payab_4

Loans payable and notes payable (Detail Textuals) - USD ($) $ in Thousands	Mar. 11, 2019	Dec. 31, 2020	Dec. 31, 2019	Jun. 29, 2019	May 08, 2019
Disclosure of detailed information about borrowings [line items]
Current borrowings		$ 18,480
Senior Secured Corporate with BCP | Credit Facility
Disclosure of detailed information about borrowings [line items]
Current borrowings	$ 100,000
Borrowing maturity	March 2025
Borrowing Term	6 years
Interest rate	3.15%
Description of interest rate basis	LIBOR 3M
Borrowing repayment term	4 years
Senior Secured Corporate with BCP | Credit Facility | Principal Repayment Grace
Disclosure of detailed information about borrowings [line items]
Borrowing repayment term	2 years
Senior Secured Corporate with BCP | Credit Facility | Corona Acquisition Loan
Disclosure of detailed information about borrowings [line items]
Borrowing maturity	P6Y
Interest rate	4.45%
Senior Secured Corporate with DBP | Credit Facility
Disclosure of detailed information about borrowings [line items]
Current borrowings	$ 21,400	$ 4,066	$ 2,910	$ 30,000	$ 48,600

Decommissioning liability (Deta

Decommissioning liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of other provisions [abstract]
Balance, beginning of year	$ 16,894	$ 13,304
Liabilities settled during the year	(405)	(914)
Interest cost	551	647
Revisions and new estimated cash flows	5,427	3,857
Balance, end of year	22,467	16,894
Less: current portion	1,260	865
Long-term decommissioning liability	$ 21,207	$ 16,029

Decommissioning liability (De_2

Decommissioning liability (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Mexico
Disclosure of other provisions [line items]
Estimated undiscounted cash flows	$ 1,182	$ 949
Discount rate	5.60%	7.00%
Settlement period	4 years	4 years
Inflation	4.00%	4.00%
Peru
Disclosure of other provisions [line items]
Estimated undiscounted cash flows	$ 24,297	$ 20,249
Discount rate	4.10%	5.00%
Inflation	2.00%	2.00%
Minimum | Peru
Disclosure of other provisions [line items]
Settlement period	3 years	4 years
Maximum | Peru
Disclosure of other provisions [line items]
Settlement period	14 years	15 years

Other liabilities (Details)

Other liabilities (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Current
Profit-sharing and other employee related obligations	[1]	$ 7,267	$ 7,248
Current portion of lease liabilities		295
Total liabilites current		7,562	7,248
Non-current
Other employee related obligations		1,426	1,297
Lease liabilities		781	257
Total liabilities non-current		$ 2,207	$ 1,554
[1]	Profit sharing and other employee related obligations

Other liabilities (Detail Textu

Other liabilities (Detail Textuals) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Other Liabilities [Line Items]
Provision for wages, salaries and other employee benefits	$ 4,118	$ 3,130
Peru
Disclosure Of Other Liabilities [Line Items]
Employee profit sharing	$ 2,244	$ 4,929

Share capital and share-based_3

Share capital and share-based payments - (Details 1) - RSU - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Outstanding, beginning of period	1,630,423	1,380,085
Granted	898,857	1,356,418
Exercised	(695,174)	(700,698)
Forfeited	(425,048)	(405,382)
Outstanding, end of period	1,409,058	1,630,423

Share capital and share-based_4

Share capital and share-based payments - (Detail Textuals) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)shares	Dec. 31, 2020$ / shares	Dec. 31, 2019USD ($)shares	Dec. 31, 2019$ / shares	Jun. 29, 2012shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation expense | $	$ 668		$ 1,174
RSU
Disclosure of terms and conditions of share-based payment arrangement [line items]
Current maximum number of common shares authorized | shares					8,000,000
Number of RSU's granted under tranche two | shares	898,857		1,356,418
Fair value of RSU's granted under tranche two		$ 1.11
Weighted average fair value of RSUs exercised under tranche two		2.60		$ 2.62
Weighted average fair value of RSUs forfeited under tranche two		1.88		2.68
Weighted average fair value of RSUs outstanding under tranche two		$ 1.57		$ 2.34
Normal course issuer bid
Disclosure of terms and conditions of share-based payment arrangement [line items]
Shares purchased | shares	2,012,654
Shares purchased, value | $	$ 2,844
Shares purchased book value | $	$ 2,481

Non-controlling interest -Summa

Non-controlling interest -Summarized balance sheet - (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current
Assets	$ 136,049	$ 104,300
Liabilities	(65,164)	(54,378)
Non-current
Assets	303,543	307,147
Corona
Current
Assets	118,045	90,438
Liabilities	(26,890)	(27,863)
Total current net assets	91,155	62,575
Non-current
Assets	170,277	171,884
Liabilities	(45,145)	(39,915)
Total non-current net assets	125,132	131,969
Net assets	$ 216,287	$ 194,544

Non-controlling interest - Summ

Non-controlling interest - Summarized income statement - (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019
Disclosure of subsidiaries [line items]
Revenue	$ 246,888	[1]	$ 229,038	[2]
Income before income tax	49,977		21,945
Income tax expense	(22,586)		(12,528)
Total income	27,391		9,417
Total income attributable to non-controlling interests	3,972		4,986
Corona
Disclosure of subsidiaries [line items]
Revenue	146,941		155,983
Income before income tax	39,809		41,796
Income tax expense	(17,934)		(14,338)
Total income	21,875		27,458
Total income attributable to non-controlling interests	$ 3,972		$ 4,986
[1]	Includes provisional pricing adjustments of: $2,899 for Yauricocha, ($889) for Bolivar, $1,180 for Cusi
[2]	Includes provisional pricing adjustments of: $216 for Bolivar

Non-controlling interest - Su_2

Non-controlling interest - Summarized cash flows - (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net changes in non cash working capital items	$ 18,239	$ 3,680
Net cash generated from operating activities	66,981	39,587
Net cash used in investing activities	(34,249)	(54,621)
Net cash from (used in) financing activities	(4,066)	36,162
Effect of foreign exchange rate changes on cash and cash equivalents	(173)	20
Increase in cash and cash equivalents	28,493	21,148
Cash and cash equivalents, beginning of the year	42,980	21,832
Cash and cash equivalents, end of the year	71,473	42,980
Corona
Cash flows from operating activities
Cash generated from operating activities	64,797	63,887
Net changes in non cash working capital items	(2,992)	(2,895)
Decomissioning liabilities settled	(405)	(915)
Income taxes paid	(12,824)	(21,885)
Net cash generated from operating activities	48,576	38,192
Net cash used in investing activities	(19,205)	(25,882)
Net cash from (used in) financing activities	705	4,775
Effect of foreign exchange rate changes on cash and cash equivalents	(53)	21
Increase in cash and cash equivalents	30,023	17,106
Cash and cash equivalents, beginning of the year	35,004	17,898
Cash and cash equivalents, end of the year	$ 65,027	$ 35,004

Expenses by nature (Details)

Expenses by nature (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Expenses by nature [abstract]
Employee compensation and benefits	$ 26,472	$ 28,986
Third party and contractors costs	52,616	60,905
Depreciation	41,654	36,084
Consumables	30,850	39,515
Changes in inventory and other costs	13,711	5,786
Total Mining costs	$ 165,303	$ 171,276

Expenses by nature (Details 1)

Expenses by nature (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Expenses by nature [abstract]
Salaries and benefits	$ 10,835	$ 9,763
Consulting and professional fees	2,922	2,705
Office expenses	2,182	1,539
Marketing and communication expenses	815	807
Share-based compensation expense	668	1,174
Listing and filing fees	257	318
Director expenses	1,307	1,282
Travelling expense	237	596
Other	1,047	1,331
Total General and administrative expenses	$ 20,270	$ 19,515

Other income (expenses) (Detail

Other income (expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Other Income Expenses [Abstract]
Loss on sale of supplies and fixed assets	$ (124)	$ (162)
Exploration expenditure written off	(1,829)
Allowance for inventory obsolescence	(176)	(238)
Miscellaneous income (expenses)	1,464	(310)
Total Other income (expenses)	$ (665)	$ (710)

Interest expense and other fi_3

Interest expense and other finance costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Interest Expense And Other Finance Costs [Abstract]
Interest expense on loans	$ 4,046	$ 4,431
Interest cost on decommissioning liability	547	647
Interest income	(300)	(203)
Interest expense and other finance costs	$ 4,293	$ 4,875

Derivative instruments (Detail

Derivative instruments (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of operating segments [abstract]
Amount received for settlement of the derivative instruments matured	$ 904

Segment reporting (Details)

Segment reporting (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019
Disclosure of operating segments [line items]
Revenue	$ 246,888	[1]	$ 229,038	[2]
Production cost of sales	(123,649)		(135,192)
Depletion of mineral property	(14,439)		(15,122)
Depreciation and amortization of property, plant and equipment	(27,215)		(20,962)
Cost of sales	(165,303)		(171,276)
Gross profit from mining operations	81,585		57,762
Income (loss) from operations	51,120		28,506
Derivative instrument gains	904
Interest expense and other finance costs	(4,293)		(4,875)
Other income (expense)	(665)		(710)
Foreign currency exchange gain (loss)	2,911		(976)
Income (loss) before income tax	49,977		21,945
Income tax expense	(22,586)		(12,528)
Net income (loss) from operations	27,391		9,417
Total assets	439,592		411,447
Non-current assets	303,543		307,147
Total liabilities	199,384		199,428
Operating segment | Peru
Disclosure of operating segments [line items]
Total assets	269,179		241,839
Non-current assets	170,681		175,246
Total liabilities	141,548		137,146
Operating segment | Mexico
Disclosure of operating segments [line items]
Total assets	167,866		162,657
Non-current assets	132,822		131,810
Total liabilities	26,952		31,130
Operating segment | CANADA
Disclosure of operating segments [line items]
Total assets	2,547		6,951
Non-current assets	40		91
Total liabilities	30,884		31,152
Operating segment | Yauricocha Mine | Peru
Disclosure of operating segments [line items]
Revenue	146,941	[1]	155,983	[2]
Production cost of sales	(70,660)		(79,339)
Depletion of mineral property	(8,503)		(10,631)
Depreciation and amortization of property, plant and equipment	(13,455)		(10,346)
Cost of sales	(92,618)		(100,316)
Gross profit from mining operations	54,323		55,667
Income (loss) from operations	40,179		39,879
Derivative instrument gains
Interest expense and other finance costs	(2,965)		(4,422)
Other income (expense)	(2,476)		(839)
Foreign currency exchange gain (loss)	329		(170)
Income (loss) before income tax	35,067		34,448
Income tax expense	(17,934)		(14,297)
Net income (loss) from operations	17,133		20,151
Operating segment | Bolivar Mine | Mexico
Disclosure of operating segments [line items]
Revenue	81,762	[1]	60,402	[2]
Production cost of sales	(37,319)		(45,491)
Depletion of mineral property	(3,873)		(2,177)
Depreciation and amortization of property, plant and equipment	(10,320)		(8,147)
Cost of sales	(51,512)		(55,815)
Gross profit from mining operations	30,250		4,587
Income (loss) from operations	19,953		(4,918)
Derivative instrument gains
Interest expense and other finance costs	18		(34)
Other income (expense)	1,573		105
Foreign currency exchange gain (loss)	1,575		(21)
Income (loss) before income tax	23,119		(4,868)
Income tax expense	(3,797)		1,450
Net income (loss) from operations	19,322		(3,418)
Operating segment | Cusi Mine | Mexico
Disclosure of operating segments [line items]
Revenue	18,185	[1]	12,653	[2]
Production cost of sales	(15,670)		(10,362)
Depletion of mineral property	(2,063)		(2,314)
Depreciation and amortization of property, plant and equipment	(3,440)		(2,469)
Cost of sales	(21,173)		(15,145)
Gross profit from mining operations	(2,988)		(2,492)
Income (loss) from operations	(4,725)		(1,079)
Derivative instrument gains	904
Interest expense and other finance costs	(105)		(8)
Other income (expense)	238		25
Foreign currency exchange gain (loss)	345		(5)
Income (loss) before income tax	(3,343)		(1,067)
Income tax expense	(855)		319
Net income (loss) from operations	(4,198)		(748)
Corporate | CANADA
Disclosure of operating segments [line items]
Revenue		[1]		[2]
Production cost of sales
Depletion of mineral property
Depreciation and amortization of property, plant and equipment
Cost of sales
Gross profit from mining operations
Income (loss) from operations	(4,287)		(5,376)
Derivative instrument gains
Interest expense and other finance costs	(1,241)		(412)
Other income (expense)
Foreign currency exchange gain (loss)	662		(780)
Income (loss) before income tax	(4,866)		(6,568)
Income tax expense
Net income (loss) from operations	$ (4,866)		$ (6,568)
[1]	Includes provisional pricing adjustments of: $2,899 for Yauricocha, ($889) for Bolivar, $1,180 for Cusi
[2]	Includes provisional pricing adjustments of: $216 for Bolivar

Segment reporting (Detail Textu

Segment reporting (Detail Textuals) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020		Dec. 31, 2019
Disclosure of operating segments [line items]
Revenue		$ 246,888	[1]	$ 229,038	[2]
Trade receivables	[3]	28,750		20,549
Two Customers | Peru
Disclosure of operating segments [line items]
Revenue		$ (146,941)		$ (155,983)
Percentage of revenue		60.00%		68.00%
Information about major customers		6		2
Trade receivables		$ 17,793
Two Customers | Mexico
Disclosure of operating segments [line items]
Revenue		$ (99,947)		$ (73,055)
Percentage of revenue		40.00%		32.00%
Information about major customers		2		2
Trade receivables		$ 10,957
First Customer | Peru
Disclosure of operating segments [line items]
Percentage of revenue		37.00%		53.00%
First Customer | Mexico
Disclosure of operating segments [line items]
Percentage of revenue		77.00%		82.00%
Second Customer | Peru
Disclosure of operating segments [line items]
Percentage of revenue		33.00%		47.00%
Second Customer | Mexico
Disclosure of operating segments [line items]
Percentage of revenue		23.00%		18.00%
Yauricocha Mine
Disclosure of operating segments [line items]
Provisional pricing adjustments		$ 2,899
Bolivar Mine
Disclosure of operating segments [line items]
Provisional pricing adjustments		889		$ 216
Cusi Mine
Disclosure of operating segments [line items]
Provisional pricing adjustments		$ 1,180
[1]	Includes provisional pricing adjustments of: $2,899 for Yauricocha, ($889) for Bolivar, $1,180 for Cusi
[2]	Includes provisional pricing adjustments of: $216 for Bolivar
[3]	Trade receivables exclude sales and income tax receivables.

Financial instruments and fin_3

Financial instruments and financial risk management (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents		$ 71,473	$ 42,980	$ 21,832
Trade receivables	[1]	28,750	20,549
Total Financial assets		100,223	63,529
LIABILITIES
Accounts payable		30,317	44,910
Loans payable		99,383	99,814
Total Financial liabilities		129,700	144,724
Amortized Cost
LIABILITIES
Accounts payable		30,317	44,910
Loans payable		99,383	99,814
Total Financial liabilities		129,700	144,724
FVTPL
LIABILITIES
Accounts payable
Loans payable
Total Financial liabilities
Amortized Cost
ASSETS
Cash and cash equivalents		71,473	42,980
Trade receivables	[1]
Total Financial assets		71,473	42,980
FVTPL
ASSETS
Cash and cash equivalents
Trade receivables	[1]	28,750	20,549
Total Financial assets		$ 28,750	$ 20,549
[1]	Trade receivables exclude sales and income tax receivables.

Financial instruments and fin_4

Financial instruments and financial risk management (Details 1) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Disclosure of fair value measurement of assets [line items]
Trade receivables	[1]	$ 28,750	$ 20,549
Trade receivables
Disclosure of fair value measurement of assets [line items]
Trade receivables	[1]	28,750	20,549
Trade receivables | Level 1
Disclosure of fair value measurement of assets [line items]
Trade receivables	[1]
Trade receivables | Level 2
Disclosure of fair value measurement of assets [line items]
Trade receivables	[1]	28,750	20,549
Trade receivables | Level 3
Disclosure of fair value measurement of assets [line items]
Trade receivables	[1]
[1]	Trade receivables exclude sales and income tax receivables.

Financial instruments and fin_5

Financial instruments and financial risk management (Details 2) S/ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands	Dec. 31, 2020USD ($)	Dec. 31, 2020CAD ($)	Dec. 31, 2020MXN ($)	Dec. 31, 2020PEN (S/)	Dec. 31, 2019USD ($)	Dec. 31, 2019CAD ($)	Dec. 31, 2019MXN ($)	Dec. 31, 2019PEN (S/)	Dec. 31, 2018USD ($)
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents	$ 71,473				$ 42,980				$ 21,832
Currency risk | USD
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents	3,510				2,659
Income tax and other receivables	14,133				14,990
Assets subject to currency risk	17,643				17,649
Accounts payable and other liabilities	(44,332)				(46,289)
Total	$ (26,689)				$ (28,640)
Currency risk | CAD
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents		$ 179				$ 113
Income tax and other receivables		39				45
Assets subject to currency risk		218				158
Accounts payable and other liabilities		(885)				(724)
Total		$ (667)				$ (566)
Currency risk | MXN
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents			$ 1,706				$ 73
Income tax and other receivables			13,371				13,262
Assets subject to currency risk			15,077				13,335
Accounts payable and other liabilities			(27,009)				(30,208)
Total			$ (11,932)				$ (16,873)
Currency risk | PEN
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents | S/				S/ 1,625				S/ 2,473
Income tax and other receivables | S/				723				1,683
Assets subject to currency risk | S/				2,348				4,156
Accounts payable and other liabilities | S/				(16,438)				(15,357)
Total | S/				S/ (14,090)				S/ (11,201)

Financial instruments and fin_6

Financial instruments and financial risk management (Details 3) - Commodity price risk - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Sales revenue from silver
Disclosure of detailed information about financial instruments [line items]
10% decrease in commodity prices	$ (471)	$ (97)
Sales revenue from copper
Disclosure of detailed information about financial instruments [line items]
10% decrease in commodity prices	(743)
Sales revenue from zinc
Disclosure of detailed information about financial instruments [line items]
10% decrease in commodity prices	(354)
Sales revenue from lead
Disclosure of detailed information about financial instruments [line items]
10% decrease in commodity prices	(105)
Sales revenue from gold
Disclosure of detailed information about financial instruments [line items]
10% decrease in commodity prices	$ (928)	$ (323)

Financial instruments and fin_7

Financial instruments and financial risk management (Details 4) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Accounts payable and accrued liabilities	$ 30,317	$ 44,910
Loans payable	99,383	$ 99,814
Liquidity risk
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Accounts payable and accrued liabilities	30,317
Loans payable	100,000
Interest on loans payable	8,311
Asset retirement obligations	25,240
Other liabilities	9,769
Total Commitments	173,637
Liquidity risk | Within 1 year
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Accounts payable and accrued liabilities	30,317
Loans payable	18,750
Interest on loans payable	3,334
Asset retirement obligations	1,284
Other liabilities	7,562
Total Commitments	61,247
Liquidity risk | 1-2 Years
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Accounts payable and accrued liabilities
Loans payable	25,000
Interest on loans payable	2,513
Asset retirement obligations	4,816
Other liabilities	2,207
Total Commitments	34,536
Liquidity risk | 3-5 years
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Accounts payable and accrued liabilities
Loans payable	56,250
Interest on loans payable	2,464
Asset retirement obligations	4,819
Other liabilities
Total Commitments	63,533
Liquidity risk | After 5 years
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Accounts payable and accrued liabilities
Loans payable
Interest on loans payable
Asset retirement obligations	14,321
Other liabilities
Total Commitments	$ 14,321

Financial instruments and fin_8

Financial instruments and financial risk management (Details 5) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of risk management strategy related to hedge accounting [line items]
Cash and cash equivalents		$ 71,473	$ 42,980	$ 21,832
Trade receivables	[1]	28,750	20,549
Total Financial assets		100,223	63,529
Credit risk
Disclosure of risk management strategy related to hedge accounting [line items]
Cash and cash equivalents		71,473	42,980
Trade receivables		28,750	20,549
Total Financial assets		$ 100,223	$ 63,529
[1]	Trade receivables exclude sales and income tax receivables.

Financial instruments and fin_9

Financial instruments and financial risk management (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract]
Percentage of appreciation in Canadian dollar exchange rate against US dollar	10.00%	10.00%
Percentage of appreciation in US dollar exchange rate against Peruvian Nuevo Soles and Mexican Peso	10.00%	10.00%
Net foreign exchange gain	$ 1,965	$ 2,053

Financial instruments and fi_10

Financial instruments and financial risk management (Detail Textuals 1) - Peru - Interest rate risk - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about financial instruments [line items]
Weighted average interest rate for loans and notes payable	4.07%	5.58%
Variable in Interest rate	1.00%	1.00%
Increase (Decrease) in Net Loss	$ 708	$ 690

Capital management (Details)

Capital management (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of objectives, policies and processes for managing capital [abstract]
Equity attributable to owners of the Company	$ 201,000	$ 176,783
Loans payable	99,383	99,814
Capital including cash and cash equivalents	300,383	276,597
Less: Cash and cash equivalents	(71,473)	(42,980)	$ (21,832)
Capital	$ 228,910	$ 233,617

Related party transactions (Det

Related party transactions (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Related party transactions [abstract]
Salaries and other short term employment benefits		$ 2,289	$ 3,304
Share-based payments	[1]	496	1,581
Total compensation		$ 2,785	$ 4,885
[1]	calculated at fair value on day of the grant

Related party transactions (D_2

Related party transactions (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Key management personnel of entity or parent
Disclosure of transactions between related parties [line items]
Consulting fees	$ 200	$ 200

Changes in working capital (Det

Changes in working capital (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of changes in working capital [Abstract]
Trade and other receivables	$ (6,802)	$ (5,885)
Financial and other assets	(63)	(563)
Income tax receivable		(282)
Inventories	670	(3,849)
Accounts payable and accrued liabilities	(12,600)	6,752
Other liabilities	556	147
Total	$ (18,239)	$ (3,680)

Revenues from mining operatio_3

Revenues from mining operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019
Revenues From Mining Operations [Abstract]
Revenues from contracts with customers	$ 243,698		$ 228,822
Provisional pricing adjustments on concentrate sales	3,190		216
Total revenues	$ 246,888	[1]	$ 229,038	[2]
[1]	Includes provisional pricing adjustments of: $2,899 for Yauricocha, ($889) for Bolivar, $1,180 for Cusi
[2]	Includes provisional pricing adjustments of: $216 for Bolivar

Revenues from mining operatio_4

Revenues from mining operations (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues from contracts with customers	$ 246,888	[1]	$ 229,038	[2]
Sales revenue from silver
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues from contracts with customers	54,641		42,450
Sales revenue from copper
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues from contracts with customers	96,159		88,128
Sales revenue from lead
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues from contracts with customers	22,068		28,073
Sales revenue from zinc
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues from contracts with customers	49,102		58,163
Sales revenue from gold
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues from contracts with customers	$ 21,728		$ 12,008
[1]	Includes provisional pricing adjustments of: $2,899 for Yauricocha, ($889) for Bolivar, $1,180 for Cusi
[2]	Includes provisional pricing adjustments of: $216 for Bolivar

Contingencies (Details Textual)

Contingencies (Details Textual)	12 Months Ended
	Dec. 31, 2020Concession
Polo y Ron Minerals, S.A. de C.V. | Legal proceedings contingent liability
Disclosure of contingent liabilities [line items]
Number of mining concessions	2