Gatos Silver reports Q3 net income $15.1M vs. $13.0M last year

Reports Q3 revenue $67.0M vs. $73.9M last year. Dale Andres, CEO of Gatos Silver, said: “The LGJV continues to generate robust cash flows with the CLG mine consistently producing high margin silver ounces. As a result of continued good operational performance in the first month of the fourth quarter along with recent optimization of the mine plan, we are increasing our 2023 full year silver and silver equivalent production guidance by 16% and 8% respectively, based on the midpoint of each guidance range. The LGJV has returned a total of $85 million to its partners in 2023, with the Company receiving another cash distribution of $24.5 million in October. Gatos Silver remains debt free with a strong cash balance. Conversion drilling of the South-East Deeps inferred resource is progressing well and the LGJV has started ramping up exploration efforts on near mine targets in the Los Gatos district.”