Gatos Silver reports Q1 silver production 3.2K tonnes

The company stated: “Mill throughput averaged 3,210 tonnes per day during the first quarter of 2024, which was the fifth consecutive quarterly increase, and was 11% higher than the first quarter of 2023. In March, mill throughput averaged 3,360 tonnes per day which was the best monthly performance on record. Silver equivalent1 production for the first quarter of 2024 was 3.70 million ounces, similar to the first quarter of 2023 and tracking to the top end of the previously disclosed 2024 guidance range of 13.5 million ounces to 15.0 million ounces. Higher than anticipated silver grades, combined with the mill throughput rates noted above, contributed to the strong production level compared with guidance for the first quarter of 2024. Silver production in the first quarter of 2024 was 2.37 million ounces, 2% lower than the first quarter of 2023. Zinc, lead and gold production increased by 13%, 7% and 1% respectively, compared with the first quarter of 2023.” CEO Dale Andres says: “The CLG mine delivered another strong quarter of operational results. Mill throughput for the quarter was more than 3,200 tonnes per day, an increase of 11% from the first quarter of 2023, and another quarterly record. Silver equivalent production for the quarter was at the top end of guidance with the higher throughput offsetting lower grades for silver, lead and gold as expected in the mine plan. We made good progress on mine debottlenecking and productivity improvements as we continue to advance towards our medium-term target to sustain throughput rates of 3,500 tonnes per day. We are also progressing our life extension opportunities beyond 2030, with an updated life of mine plan expected in the third quarter of 2024 and increased exploration efforts on near mine targets in the Los Gatos district during the quarter.”