Gatos Silver, Inc. - GATO STOCK NEWS

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.

Gatos Silver (NYSE/TSX: GATO) reported continued drilling results from the South-East Deeps zone at its 70%-owned Cerro Los Gatos mine in Mexico. Highlights include:

- 3.5m at 214 g/t Ag, 19.00% Zn, 12.23% Pb
- 3.0m at 81 g/t Ag, 9.94% Zn, 3.88% Pb
- 6.5m at 43 g/t Ag, 4.52% Zn, 1.78% Pb

The company also provided updates on its regional exploration program:

- Drilling at Portigueño target intercepted anomalous precious and base metals
- Initial drilling at San Luis target returned wide quartz vein and silicified breccia intersections
- Drilling began at Cerro Los Gatos Central Deeps target
- Mapping continued in Lince, San Agustin, and La Paula areas

Gatos Silver expects to complete its next reserve and resource estimates update in Q3 2024.

Gatos Silver reported record production results for Q2 2024 at its Cerro Los Gatos mine. The mine achieved record mill throughput, averaging 3,240 tonnes per day, a 1% increase from Q1 2024 and 11% from Q2 2023. Silver equivalent production rose by 18% year-over-year to 3.88 million ounces, with zinc production hitting a record 19.1 million pounds, a 29% increase year-over-year. Silver production was up 15% to 2.30 million ounces. Lead and gold production also saw increases of 24% and 14%, respectively. The company remains on track to meet the higher end of its 2024 guidance. Exploration efforts have intensified, aimed at extending the mine's life. Cash and cash equivalents stood at $82.5 million as of June 30, 2024.