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Gatos Silver Reports First Quarter 2021 Results

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Gatos Silver, Inc. (NYSE/TSX: GATO) (“Gatos Silver” or the “Company”) today reported first quarter 2021(“Q1”) operational and financial results.

Key Highlights:

  • Repurchased an additional 18.5% interest in the Los Gatos Joint Venture (“LGJV”), increasing the Company’s LGJV interest to 70%;
  • Extinguished the $60 million LGJV Working Capital Facility of which Gatos Silver’s pro-rata portion was $42 million;
  • Mined 209,832 tonnes of ore from the Cerro Los Gatos (“CLG”) mine;
  • Achieved strong metal recoveries at the CLG processing plant with silver recovery averaging 85%, lead recovery averaging 87% and zinc recovery averaging 71%;
  • Continued strong community involvement including physical, social and mental health initiatives and community infrastructure support;
  • Secured permit approvals to begin definition drilling at the LGJV’s Esther zone and commenced an exploration drilling program at Gatos Silver’s wholly-owned Santa Valeria property; both properties have geologic characteristics similar to CLG; and
  • Advanced definitional drilling at Cerro Los Gatos with three drills currently in operation.

Operational and Financial Results

Gatos Silver

 

Three Months Ended

 

March 31,

Amounts in millions*

2021

2020

Exploration expenses

$0.2

$0.2

G&A expenses

3.6

0.8

Operating expenses

3.8

1.0

Equity (income) loss in LGJV

(2.7)

13.4

Arrangement fees

0.5

1.6

Net other expense

(2.2)

15.0

Net Loss

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Gatos Silver, Inc.

NYSE:GATO

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#2619 Ranked by Market Cap
#378 Ranked by Stock Gains
N/A Ranked by Dividends

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GATO Stock Data

823.95M
40.87M
1.37%
88.74%
0.89%
Other Precious Metals & Mining
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United States of America
VANCOUVER

About GATO

sunshine silver mining & refining is a privately-held u.s. based silver company that is advancing its two principle projects, the sunshine mine in idaho and the los gatos project in chihuahua, mexico. the sunshine mine deposit is one of the highest grade large primary silver deposits in the world with a resource of 75 million measured & indicated and 221 million inferred silver ounces at an average grade of 827 grams per tonne. the company also owns the sunshine precious metals refinery adjacent to the sunshine mine and is the only silver mining and processing company in north america that is fully integrated and certified to sell high purity silver directly to the comex in new york. the los gatos project is a joint venture between sunshine silver mining & refining corp (sunshine silver) and dowa metals & mining ltd (dowa) where sunshine silver has 70% ownership and is the operating partner. the project is comprised of 103,000 contiguous acres of mineral rights that define a new silver