Gatos Silver reports 2024 silver production at top end of 2024 guidance range

Gatos Silver (GATO) announced production results for the quarter and year ended December 31, 2024 at its 70%-owned Cerro Los Gatos mine in Mexico. “Silver production was at the top end of the 2024 guidance range and silver equivalent production was slightly above the top end of the 2024 guidance range. Guidance for both metrics was upwardly revised in October 2024,” the company stated. 2024 silver production was 9.68 million ounces, compared with guidance as upwardly revised in October 2024, of 9.2 million ounces to 9.7 million ounces. Silver equivalent production was 15.57 million ounces, slightly above the high end of guidance at 15.5 million ounces as upwardly revised in October 2024. Zinc production of 69.7 million pounds, lead production of 46.4 million pounds, and gold production of 5.53 thousand ounces were all slightly above the high end of guidance, which did not change during 2024. Dale Andres, CEO of Gatos Silver, commented: “The CLG mine delivered another excellent quarter of production to end another very strong year in 2024. We achieved our eighth consecutive quarterly record for mill throughput in the fourth quarter of 2024, with an average throughput rate of above 3,300 tonnes per day, which is 33% above the original design capacity. Production across all of our metals met or slightly exceeded the top end of our upwardly revised 2024 guidance ranges, which is a testament to the dedication and effort of our CLG operating team. The solid progress we made in 2024 on increasing mining and milling rates and on our near mine and greenfield exploration programs position the Company well to deliver significant value into the combination with First Majestic.”