Gatos Silver, Inc. - GATO STOCK NEWS

Gatos Silver announced the sudden passing of Mr. Igor Levental, an independent non-executive director, on June 10, 2022. Serving since 2019, Mr. Levental contributed significantly to the board with his extensive experience in the mining industry, holding prior positions at notable companies like Homestake Mining and Novagold Resources. The board expressed deep condolences and acknowledged his invaluable contributions. Gatos Silver, based in Mexico, focuses on silver and zinc exploration and production, particularly at the LGJV’s CLG deposit, operational since 2019.

Gatos Silver (NYSE:GATO) provided a bi-weekly default status report regarding its filing delays for the annual Form 10-K and quarterly Form 10-Q for 2021 and March 2022, respectively. The Company anticipates filing these reports in the latter half of 2022. It is also addressing material weaknesses in financial reporting related to mineral reserves, which could impact the financial statements. The Ontario Securities Commission has issued management cease trade orders due to these delays. No significant changes or defaults have occurred since the last notice.

Gatos Silver, Inc. (NYSE:GATO) has issued a bi-weekly default status report, following delays in filing its annual report on Form 10-K for the year ended December 31, 2021. The company anticipates filing both the 10-K and the 10-Q for the quarter ended March 31, 2022, in the latter half of 2022. A management cease trade order was implemented on April 1 and April 12, 2022, by the Ontario Securities Commission. The company is also addressing material weaknesses in its financial reporting related to mineral reserve reporting errors.

Gatos Silver, Inc. (NYSE: GATO) announced a delay in filing its annual report on Form 10-K for the year ended December 31, 2021, originally due by March 31, 2022. The interim financial filings on Form 10-Q for the quarter ended March 31, 2022, due by May 16, 2022, are also delayed, with anticipated filing in the second half of 2022. The company is assessing material weaknesses in its internal controls related to mineral reserve reporting errors. A management cease trade order is in effect due to these issues.

Gatos Silver (NYSE:GATO) announced the resumption of mining operations at the Cerro Los Gatos mine on May 9, 2022, following the reinstatement of its blasting permit. The company reported a record silver production of 2.4 million ounces for Q1 2022, an increase of 58% year-over-year. Additionally, the Los Gatos Joint Venture paid its first dividend of $20 million in April 2022. The company’s sales rose by 85% to $85.6 million compared to Q1 2021, while G&A expenses increased due to higher legal and consulting costs. A new Vice President of Finance was appointed effective May 1, 2022.

Gatos Silver, Inc. (NYSE:GATO) issued a bi-weekly default status report under National Policy 12-203 due to a delay in filing its annual report on Form 10-K for 2021. The Ontario Securities Commission has placed a management cease trade order on the company, with a subsequent order affecting its new CEO. The report confirms no significant changes since the original notice and affirms the company's commitment to compliance with alternative information guidelines. Gatos Silver is primarily focused on its operations in Mexico, notably the Cerro Los Gatos deposit.

Gatos Silver (NYSE:GATO) announced the temporary suspension of operations at its Cerro Los Gatos Mine due to a regulatory halt on explosives permits following a blasting incident on April 21, 2022. The incident did not cause injuries or significant damage. While the mining operations are paused, the processing plant will temporarily shut down for maintenance on April 28, 2022. The company anticipates a swift reinstatement of the permit and expects no significant impact on production plans.

Gatos Silver, Inc. (NYSE: GATO) announced that it is not in compliance with NYSE regulations due to the late filing of its Annual Report on Form 10-K for the year ended December 31, 2021. This delay is attributed to errors in a technical report and a potential overestimation of mineral reserves at its Los Gatos Joint Venture. The company is working on new estimates and plans to file the report in the second half of 2022. While trading will continue during the NYSE's Initial Cure Period, the company may face delisting risks if compliance is not restored.

Gatos Silver, Inc. (NYSE:GATO) issued a bi-weekly report on its compliance with National Policy 12-203 following a management cease trade order (MCTO) linked to delayed financial filings. The original MCTO was granted on April 1, 2022, due to the late submission of its annual report for the year ended December 31, 2021. The company confirms no material changes since the last notice and continues to meet the alternative information guidelines. Gatos Silver focuses on silver and zinc mining in Mexico, with a significant portion of its mineral rights still unexplored.