Gatos Silver, Inc. - GATO STOCK NEWS

Gatos Silver (NYSE/TSX: GATO) has announced a special meeting of stockholders scheduled for January 14, 2025, at 10:00 a.m. Pacific Time, regarding the previously announced merger with First Majestic Silver Corp. The virtual meeting will allow stockholders of record as of November 25, 2024, to vote on the adoption of the Merger Agreement. First Majestic will hold its shareholder meeting one hour later on the same day.

The Board of Directors unanimously recommends stockholders vote in favor of both the merger adoption and potential meeting adjournment proposals. Meeting materials will be sent to stockholders around December 6, 2024, though Canadian stockholders may experience delays due to ongoing Canada Post labour disputes. The transaction is expected to close in early 2025, subject to stockholder approvals and other conditions.

Gatos Silver (NYSE/TSX: GATO) reported strong Q3 2024 results with earnings per share of $0.14, up 200% from Q3 2023. The LGJV achieved record performance with revenue of $93.8 million, up 40%, and record net income of $25.7 million, up 71%. Silver production increased 9% to 2.42 million ounces. The company reported record quarterly free cash flow and ended Q3 with $116.7 million in cash. A merger with First Majestic Silver is expected to close in Q1 2025. The updated life of mine plan adds two years of reserves and projects a 36% increase in silver equivalent production.

Gatos Silver (NYSE/TSX: GATO) has announced it will release its third quarter 2024 financial and operating results after North American markets close on Monday, November 11, 2024. The company will host a conference call and webcast to discuss these results on Tuesday, November 12, 2024, at 11:00 a.m. Eastern Time. The webcast will be available for analysts and investors, with an archive accessible on the company's website within 24 hours of the event.

Gatos Silver (NYSE/TSX: GATO) reported an 11% increase in silver equivalent production for Q3 2024 compared to the previous year at its 70%-owned Cerro Los Gatos (CLG) mine in Mexico. The company also announced improved annual production and cost guidance for 2024. Key highlights include:

- Mill throughput rate averaged 3,246 tonnes per day in Q3 2024, up 11% from Q3 2023
- Silver production reached 2.42 million ounces, a 9% increase from Q3 2023
- Silver equivalent production was 3.84 million ounces, up 11% from Q3 2023
- Zinc, lead, and gold production increased by 20%, 20%, and 13% respectively

Gatos Silver raised its 2024 guidance, now expecting silver production between 9.2-9.7 million ounces and silver equivalent production between 14.7-15.5 million ounces. The company also lowered its by-product AISC guidance to $8.50-$10.00 per ounce of payable silver.

Gatos Silver (NYSE/TSX: GATO) reported positive Q3 2024 exploration results at its 70%-owned Los Gatos district in Mexico. Key highlights include:

1. Discovery of a new mineralization zone in the Central Deeps target at Cerro Los Gatos (CLG) mine, with intercepts up to 5.9m at 126 g/t Ag, 15.82% Zn, 5.46% Pb.

2. Continued extension of the South-East Deeps zone at CLG, with intercepts up to 9.5m at 101 g/t Ag, 11.11% Zn, 5.49% Pb.

3. Ongoing regional exploration at Portigueño, San Luis, Lince, and Los Veranos targets.

The results suggest potential for further life extension at CLG beyond the recently announced mine life to 2032. Drilling continues in priority areas, with plans to start drilling at Lince in Q4 2024.

Gatos Silver reported an updated life of mine plan for its Cerro Los Gatos Mine in Mexico, extending the mine life to the end of 2032 and increasing silver equivalent production by 36% compared to the prior plan. Key highlights include:

• Mine life extended by 2 years with higher throughput of 3,500 tonnes per day
• Low all-in sustaining costs of $6.29 per ounce of payable silver
• Average annual after-tax free cash flow of $80 million
• Total silver equivalent production increased 36% to 107.2 million ounces
• 2024 Mineral Reserve increased 28% to 10.3 million tonnes
• Numerous opportunities identified to further extend mine life and increase margins

The updated plan demonstrates strong cash flows and attractive costs, positioning CLG as a high-quality silver operation with long-term growth potential.

First Majestic Silver Corp. (AG) and Gatos Silver, Inc. (GATO) have announced a definitive merger agreement. First Majestic will acquire all outstanding shares of Gatos, with Gatos shareholders receiving 2.550 First Majestic shares for each Gatos share. The deal values Gatos at approximately US$970 million, representing a 16% premium based on closing prices.

Key highlights of the transaction include:

• Consolidation of three world-class silver mining districts in Mexico
• Combined annual production of 30-32 million ounces of silver-equivalent
• Expected annual free cash flow contribution of about US$70 million from Gatos
• Creation of a 350,000-hectare prospective land package
• Pro forma market capitalization approaching US$3 billion

The transaction is expected to close in early 2025, subject to shareholder and regulatory approvals.

Gatos Silver (NYSE/TSX: GATO) reported strong Q2 2024 financial results for its 70% owned Los Gatos Joint Venture (LGJV). Highlights include:

- Record revenue of $94.2 million, up 62% year-over-year
- Record net income of $20.5 million, up from $0.7 million
- Silver production of 2.30 million ounces, up 15%
- By-product AISC of $6.57 per ounce of payable silver, down 54%

Gatos Silver's Q2 2024 results showed net income of $9.2 million, up from a net loss of $3.6 million in Q2 2023. The company's cash balance increased to $82.5 million as of June 30, 2024. Gatos Silver remains on track to achieve its 2024 production and cost guidance.

Gatos Silver (NYSE/TSX: GATO) has announced its upcoming second quarter 2024 financial and operating results release, scheduled for Tuesday, August 6, 2024, after North American markets close. The company will follow this with a conference call and webcast on Wednesday, August 7, 2024, at 11:00 a.m. Eastern Time to discuss the results.

Investors and interested parties can access the listen-only webcast through the provided link. Analysts have a separate direct event registration link. An archive of the webcast will be available on the company's website within 24 hours of the event.