Gatos Silver, Inc. - GATO STOCK NEWS

Gatos Silver, Inc. (NYSE:GATO) reports its bi-weekly default status as mandated by National Policy 12-203 due to repeated delays in filing its annual report on Form 10-K for 2021 and subsequent quarterly reports. The company has received extensions from both the NYSE and Toronto Stock Exchange to file these reports, with a deadline set for April 15, 2023. KPMG resigned as the auditor, and Gatos is looking for a successor. The firm acknowledges material weaknesses in internal controls and continues to assess their impact on financial statements.

Gatos Silver (GATO) reported record silver production of 2.7 million ounces in Q3 2022, a 59% increase compared to Q3 2021, alongside significant boosts in zinc and lead output. The company enhanced its production guidance for silver by 9% and indicated lower all-in sustaining costs for 2022. Key operational metrics include a record mill throughput rate of 2,862 tonnes/day and improved ore grades. Gatos Silver also completed a fourth lift of its tailings dam on time and below budget, and is transitioning its executive office to Vancouver by Q4 2022.

Gatos Silver (GATO) released an updated Mineral Reserve and Resource Estimate for its Cerro Los Gatos Mine, indicating a reduction of 32% in contained silver compared to 2020. The 2022 Life of Mine Plan forecasts average annual silver production of 7.4 million ounces until 2028. The mine's pre-tax net present value stands at $491 million. Recent exploration has revealed new high-grade mineralization, suggesting potential mine life extension. Additionally, the company's executive office is transitioning to Vancouver, and Stephen Bodley has been appointed General Counsel.

Gatos Silver (NYSE:GATO) issued a bi-weekly default status report due to ongoing delays in filing its financial reports, stemming from issues with its mineral reserve reporting. The company has not filed its annual Form 10-K or quarterly Form 10-Qs for various periods, prompting management cease trade orders from the Ontario Securities Commission. Additionally, KPMG resigned as the independent auditor, citing challenges related to the company’s executive team structure. Gatos Silver is actively seeking a new auditor and plans to provide updates on its mineral reserve estimates soon.

Gatos Silver (NYSE:GATO) has issued a bi-weekly default status report according to NP 12-203, detailing ongoing delays in filing its annual report for 2021 and interim reports for 2022. The company anticipates filing its reports in Q4 2022, followed by its annual shareholder meeting. Financial statements may be influenced by evaluations regarding mineral reserve reporting errors, with at least one material weakness identified. The Ontario Securities Commission has granted multiple management cease trade orders as the company continues to address these reporting issues.

Gatos Silver, Inc. (NYSE: GATO) reported unaudited operating and financial results for Q2 and H1 2022. The Cerro Los Gatos (CLG) mine achieved record production of 4.7 million ounces of silver, 22 million pounds of lead, and 29.3 million pounds of zinc in H1. Despite a 24% decrease in Q2 sales due to lower metal prices, the company remains confident in meeting production guidance. Cost reductions are underway, and they expect to end the year near the low end of their AISC guidance. The Los Gatos Joint Venture has a cash balance of $40 million and paid a $15 million dividend in July 2022.

Gatos Silver (NYSE:GATO) provided a default status update indicating delays in filing its annual and interim financial reports. The Company anticipates filing its annual report for the year ended December 31, 2021, and related quarterly reports in Q4 2022. Additionally, Gatos Silver is reviewing internal control weaknesses linked to mineral reserve reporting errors. A management cease trade order was issued in April 2022, affecting stock trading. The Company reported no material changes since its last notice, maintaining compliance with regulatory requirements.

Gatos Silver (NYSE:GATO) has issued a bi-weekly default status report following delays in filing its annual and quarterly financial reports due to internal control weaknesses and mineral reserve reporting errors. The company anticipates filing these reports in the second half of 2022, with an annual shareholder meeting planned before year-end. A management cease trade order was granted by the Ontario Securities Commission in April 2022. Despite these challenges, Gatos Silver has reported no new material changes since its initial notice and continues to meet its disclosure obligations.

Gatos Silver reported strong production results for Q2 and H1 2022 from its Cerro Los Gatos mine, noting a 9% increase in silver output and significant growth in lead and zinc production compared to Q2 2021. Increased recovery rates and higher ore grades were key contributors to the success, with silver production up 29% and lead and zinc up 16% and 26% respectively for the first half of 2022. Despite a temporary suspension affecting mill throughput, the company maintains its production guidance, anticipating an additional $20 million dividend from its joint venture.