Gatos Silver - GATO STOCK NEWS

Gatos Silver (NYSE:GATO) announced that stockholders have approved the merger agreement with First Majestic Silver Corp. Approximately 71.3% of outstanding Gatos Silver shares voted in favor of the Merger Resolution at the special stockholders meeting. First Majestic shareholders also approved the issuance of up to 190,000,000 common shares for the merger.

Under the merger terms, Gatos Silver stockholders will receive 2.55 First Majestic shares for each Gatos Silver share held, with fractional shares paid in cash. The transaction is expected to close before market open on January 16, 2025, subject to remaining customary closing conditions.

Gatos Silver (NYSE/TSX: GATO) reported strong production results for Q4 and full-year 2024 at its 70%-owned Cerro Los Gatos mine in Mexico. The company achieved 9.68 million ounces of silver production, reaching the top end of its upwardly revised 2024 guidance. Silver equivalent production was 15.57 million ounces, slightly exceeding guidance.

The mine achieved its eighth consecutive quarterly record for mill throughput in Q4 2024, averaging 3,324 tonnes per day, 33% above original design capacity. Production metrics were impressive across all metals: 69.7 million pounds of zinc, 46.4 million pounds of lead, and 5.53 thousand ounces of gold, all slightly above guidance.

Mill throughput increased 11% year-over-year, with December averaging 3,760 tonnes per day. Metal production in 2024 surpassed 2023 levels, with zinc and lead production increasing by 22% and 20% respectively.

Gatos Silver (NYSE/TSX: GATO) has announced amended agreements with Dowa Metals & Mining regarding the Los Gatos Joint Venture (LGJV), effective January 1, 2025. The key changes include expanded management rights for Gatos Silver, enabling full financial statement consolidation instead of the current equity method accounting. While ownership remains at 70% Gatos Silver and 30% Dowa, the amendments strengthen Dowa's zinc concentrate offtake rights and update commercial terms based on world benchmarks.

The new agreements reduce supermajority voting requirements and grant Gatos Silver sole-funding rights for significant mine modifications. This restructuring comes ahead of the anticipated merger with First Majestic, expected to close in January 2025.

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.