Welcome to our dedicated page for Gatos Silver news (Ticker: GATO), a resource for investors and traders seeking the latest updates and insights on Gatos Silver stock.
This page provides a historical news archive for Gatos Silver, Inc. (GATO), a former NYSE and TSX-listed silver-dominant exploration, development and production company. Company news releases describe Gatos Silver as the 70% owner of the Los Gatos Joint Venture in southern Chihuahua State, Mexico, where it operated the Cerro Los Gatos mine and advanced exploration across the broader Los Gatos district.
The news flow for GATO covers several key themes. Operational updates detail production results at Cerro Los Gatos, including silver and silver equivalent output, mill throughput rates and cost metrics such as by-product and co-product all-in sustaining costs. Exploration releases highlight drilling results at near-mine targets like the South-East Deeps and Central Deeps zones, as well as regional targets including Portigueño, San Luis, Lince and Los Veranos within the Los Gatos district’s approximately 103,000 hectares of mineral rights.
Corporate and strategic developments also feature prominently in Gatos Silver’s news. In September 2024, the company announced a definitive merger agreement under which First Majestic Silver Corp. would acquire all outstanding Gatos Silver shares. Subsequent releases reported stockholder and shareholder approvals, and a joint press release dated January 16, 2025 confirmed completion of the acquisition and noted that Gatos Silver shares would cease trading and be delisted from the NYSE and TSX.
By reviewing this news archive, readers can trace Gatos Silver’s reported production performance, life of mine planning, exploration progress and the sequence of events leading to its acquisition by First Majestic. This historical record is useful for understanding how the Cerro Los Gatos mine and the Los Gatos district evolved under Gatos Silver’s stewardship before becoming part of First Majestic’s portfolio.
Gatos Silver, Inc. (GATO) has issued a bi-weekly default status report regarding delays in filing its financial reports, as required under NP 12-203. Following prior announcements, the Company expects to complete the audits and filings for 2021 and 2022 by the end of Q1 2023. It has appointed Ernst & Young LLP as its independent auditor for these financial periods. However, the Company has identified material weaknesses in its internal controls over financial reporting, necessitating additional oversight. No new defaults have been reported since the initial notice, and the Company aims to hold its 2023 annual shareholders' meeting later this year.
Gatos Silver has announced 2023 production and cost guidance for its Cerro Los Gatos mine. Silver production is projected between 7.4 and 8.2 million ounces at an all-in sustaining cost (AISC) of $11.00 to $13.00 per payable ounce. Total silver equivalent production is expected to range from 12.4 to 13.8 million ounces, with AISC on a co-product basis of $15.50 to $17.50 per ounce. Sustaining capital expenditures are estimated at $45 million, and exploration costs at $13 million. The company anticipates stronger silver output in the first half of the year, while zinc and lead production will peak in the latter half. Gatos aims for continued operational optimization and mine life extension efforts.
Gatos Silver, Inc. (NYSE:GATO) provided a bi-weekly default status report as mandated by National Policy 12-203 due to delays in filing its financial reports. The company disclosed ongoing delays in filing its Form 10-K for the year ended December 31, 2021 and interim Form 10-Q filings for 2022. The firm appointed Ernst & Young LLP as its independent auditor, expecting all delays to be resolved by the end of Q1 2023. Material weaknesses in internal controls over financial reporting were also identified. The Ontario Securities Commission has implemented cease trade orders to ensure compliance.
Gatos Silver (NYSE:GATO) issued a bi-weekly default status report as mandated by National Policy 12-203 due to delays in filing financial reports. The company has struggled to file its 10-K and subsequent 10-Q reports for 2021 and 2022, resulting in several management cease trade orders. Ernst & Young LLP has been appointed as the independent auditor, with expectations to complete the necessary filings by the end of Q1 2023. The company is also addressing identified material weaknesses in its financial reporting controls and has engaged a third-party expert for assistance.
Gatos Silver provided a quarterly update on its drilling and exploration programs in the Los Gatos district, revealing significant resource expansion potential at the Cerro Los Gatos mine. Key findings include the extension of the South-East Deeps zone, intersected 415 meters below the 2022 mineral reserve, now spanning over 950 meters. The fourth quarter drilling yielded impressive results, such as hole SE-498 intercepting 3.0 meters at 771 g/t silver. The company also reported an extension for filing financial statements until March 31, 2023. The ongoing resource conversion drilling aims to enhance the mine life further, with updates expected in Q3 2023.
Gatos Silver (GATO) reports its bi-weekly default status following delays in its financial filings required by the Ontario Securities Commission. The company is behind on its annual Form 10-K and several quarterly Form 10-Q filings due to identified material weaknesses in internal controls over financial reporting. Ernst & Young has been appointed as the independent auditor for 2021 and 2022 financial statements. Gatos expects to complete all delayed filings by the end of Q1 2023 and subsequently hold its annual shareholders' meeting. The company continues to assess the implications of its material weaknesses and to improve its internal control processes.
Gatos Silver (NYSE:GATO) reported record silver production of 10.3 million ounces in 2022, a 36% increase from 2021 and surpassing guidance of 9.35-9.65 million ounces. Q4 output also set a record at 2.9 million ounces, up 26% year-over-year. Zinc and lead production rose by 22% and 10% respectively. The company aims to enhance operational efficiency and explore new mineralization zones in 2023. Cash balance stood at $17 million as of December 31, 2022, up from $15 million in Q3.
Gatos Silver, Inc. (NYSE:GATO) reports a bi-weekly default status in compliance with National Policy 12-203. The company has delayed filing its annual report for 2021 and quarterly reports for 2022 due to identified material weaknesses in internal controls over financial reporting. Ernst & Young LLP has been appointed as the independent auditor to review financial statements for 2021 and 2022. Gatos expects to complete all delayed filings by the end of Q1 2023 and will hold its annual shareholders’ meeting thereafter. No material changes have occurred since the initial Notice of default.
Gatos Silver (GATO) has announced an amended revolving credit facility with Bank of Montreal, extending the maturity date to December 31, 2025, and re-establishing a credit limit of US$50 million. The facility includes an accordion feature for an additional US$25 million. Currently, Gatos has US$41 million available for advance and a US$4 million repayment made prior to closing. This financial flexibility supports the company's exploration and growth strategy in the Los Gatos district, enhancing shareholder value.
Gatos Silver (NYSE:GATO) issued a bi-weekly default status report regarding its delayed financial filings in compliance with National Policy 12-203. The company is delayed in filing annual and interim reports for 2021 and 2022. Ernst & Young has been appointed as the independent auditor, reviewing financial statements for these years. Despite ongoing evaluations of material weaknesses in internal controls related to mineral reserve reporting errors, Gatos anticipates completing all filings by the first quarter of 2023. No material changes have occurred since the last notice.