Gatos Silver, Inc. - GATO STOCK NEWS

Gatos Silver (GATO) reports temporary power restrictions at its Cerro Los Gatos (CLG) site due to severe winter storms in Texas impacting natural gas supply to Mexico. The mine can maintain residential and administrative power through diesel generators but will operate underground mining at a reduced rate. Ore will be stockpiled due to processing plant shutdown for maintenance, which will be accelerated during this period. The firm continues to explore its mineral rights in Chihuahua, which remains largely underexplored with significant potential for silver production.

Gatos Silver, Inc. (GATO) will report its Q4 and year-end 2020 operational and financial results on March 29, 2021, before market open. A conference call will be held at 10:00 a.m. Mountain Time. Gatos Silver operates a silver-rich mineral district in Chihuahua, Mexico, with 14 defined mineral zones. The company recently commissioned its first operating mine, expected to yield 12.2 million silver equivalent ounces annually. Forward-looking statements in the release highlight production expectations and associated risks.

Gatos Silver (GATO) provided an operational update highlighting progress in the Cerro Los Gatos (CLG) mine during 2020. Despite COVID-19 related interruptions, the mine achieved a production rate of 2,324 tonnes/day by year-end. CLG produced 4.2 million ounces of silver, along with significant quantities of zinc, lead, and gold. Gatos Silver initiated a 27,000-meter exploration program aimed at upgrading inferred resources and identifying new deposits. The company also successfully completed an IPO, raising $172.5 million, marking a milestone in its growth strategy.

Gatos Silver completed a dual listing IPO on NYSE and TSX in October 2020, raising $173 million, marking the largest precious metals IPO since 2010. Major shareholders include the Electrum Group and Fidelity Investments. The company is set to join the Russell 2000 Index on December 21, 2020, enhancing its market visibility. Gatos Silver focuses on silver and zinc production in Chihuahua, Mexico, and aims to produce 12.2 million silver equivalent ounces annually from its newly commissioned Cerro Los Gatos mine. The company holds extensive mineral rights in an underexplored district.

Gatos Silver (NYSE/TSX: GATO) has announced the reactivation of drilling programs requiring 58,000 meters of exploration at an estimated cost of $6.1 million. The first initiative, focusing on the Cerro Los Gatos deposit, aims to convert inferred resources into measured and indicated resources, potentially increasing the production rate from 2,500 tpd to 3,000 tpd. The company plans two additional programs targeting resource expansion at the Los Gatos District and its Santa Valeria project. CEO Stephen Orr emphasizes the commitment to creating value through these initiatives.

Gatos Silver (NYSE/TSX: GATO) has announced its inclusion in the VanEck Vectors Junior Gold Miners ETF (GDXJ) following its recent IPO. CEO Stephen Orr highlighted the significance of this inclusion, given that Gatos Silver generates most of its revenue from silver production. The company operates in a mineral-rich district in Chihuahua, Mexico, and has defined 14 zones of mineralization, with plans to produce 12.2 million silver equivalent ounces annually from its Cerro Los Gatos mine.

Gatos Silver reported strong operational and financial results for Q3 2020. The Cerro Los Gatos mine saw rapid recommissioning following COVID-19 disruptions, achieving a production rate of 1,750 tpd. Key highlights include a record 453,392 ore tonnes mined in the first nine months and significant recoveries in silver, zinc, and lead, with silver at 85.1%. The company's IPO raised $172.5 million, positioning shareholders to benefit from rising silver prices. Q3 2020 revenue reached $44 million, with net losses decreasing to $1.2 million due to operational improvements.

Gatos Silver, Inc. (NYSE/TSX: GATO) will release its Q3 2020 operational and financial results on December 8, 2020, after market close. The management will host a webcast and conference call on December 9, 2020, at 10:00 a.m. MT/12:00 p.m. ET. Investors can register for the call via a provided link. A replay of the webcast will be accessible on the company’s website afterwards. Gatos Silver encourages regular reviews of its communications for material information regarding its operations and financials.

Gatos Silver announced that underwriters of its IPO exercised their option to purchase an additional 3,214,500 shares at $7.00 each, totaling 24,644,500 shares sold. This move generated approximately $172.5 million in gross proceeds before deductions. The offering was led by BMO Capital Markets, Goldman Sachs & Co. LLC, and RBC Capital Markets, with Canaccord Genuity Corp. and CIBC Capital Markets serving as co-managers. This press release does not constitute an offer to sell securities where unlawful.