Gatos Silver announced above-guidance and record silver production from its 70%-owned Cerro Los Gatos mine for the quarter and year ended December 31. Dale Andres, CEO of Gatos Silver, commented: "Our excellent results reflect the quality of the CLG assets and the management team’s ability to improve operations and maximize cash flows. Our focus in 2023 will be to further optimize operational performance, advance our mine life extension opportunities by converting the higher-grade portion of our current mineral resource into reserves and advancing definition drilling on the mineralization recently discovered at depth in the new South-East Deeps zone. We will also be focusing on exploring our extensive land package in the highly prospective Los Gatos district." Silver production was a record of 10.3 million ounces in 2022, up 36% from 7.6M ounces in 2021, and above the high end of the most recent 2022 guidance range of 9.35M to 9.65M ounces. The production guidance, provided on October 11 , was increased from the initial 2022 guidance range provided on January 25 of 8.5M to 9.0M ounces. Zinc, lead and gold production also increased during 2022, with zinc and gold near the high end of guidance, and lead near the guidance midpoint. Compared with 2021, zinc production increased by 22%, lead production by 10%, and gold production by 2%. Silver production for the fourth quarter of 2022 was a record of 2.9M ounces, up 26% from 2.3M ounces in the fourth quarter of 2021 and surpassing the previous record of 2.7M ounces achieved in the third quarter of 2022. Zinc production increased by 5%, lead production declined by 5%, and gold production increased by 8%, compared with the fourth quarter of 2021.
Published first on TheFly
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