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From GlobeNewswire: 2024-09-25 16:15:00

Gatos Silver, Inc. announced an updated life of mine plan that extends mine life to 2032 and increases silver equivalent production by 36% at the Cerro Los Gatos Mine in Mexico. The plan includes attractive all-in sustaining costs and strong cash flows, with further growth opportunities available. The company is set to be acquired by First Majestic Silver Corp. (NYSE/TSX: GATO).

The updated mineral reserve estimate for 2024 shows 10.3 million tonnes at 172 g/t silver, with an increase in contained silver of 28% compared to the previous year. The 2024 mineral resource estimate includes 0.8 million tonnes of measured and indicated resource, up 98% from the prior year. Successful resource to reserve conversion has been achieved at the mine.

The 2024 LOM Plan at CLG features an extension of mine life to 2032, with increased throughput rates and low all-in sustaining costs. With average annual free cash flow projections ranging from $80 million to $136 million and a potential NPV of $935 million at a silver price of $35/oz, the plan demonstrates strong financial performance. Numerous opportunities exist for margin improvement through capital projects and exploration expansion.



Read more at GlobeNewswire: Gatos Silver Provides Updated Cerro Los Gatos Mineral