Gatos Silver, Inc. (GATO) has seen a decrease of 8.24% in the aftermarket following the announcement on Mineral Resources and Reserves. However, the last trading session concluded at $10.19 with an increase of 1.29%.
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Update on Mineral Resources and Reserves – What’s up?
On 25th January 2022, GATO released an update on the resource and reserve estimation technique and cost forecasts for 2022. The Organization is thinking to work with external design consultants to further understand the scope of the estimates, which involves a complete comparison of performance to previous models and reserve calculation estimations. In addition, the Company is working promptly to make this improvement. Due to the reconciliation’s intricacy, Gatos Silver anticipates completing its work in the second part of 2022.
Now what?
CLG’s geological characteristics are more complex, with greater and more diverse mineral vein sizes and orientations than expected, the business claims. The Company has been able to mine these veins successfully up until 2021. Gatos Silver is looking forward to a successful year in 2022. The Company is raising its technology capabilities and capacity exponentially, as well as its present review processes, while the reconciliation process is in progress.
Record Production Performance – Latest News
GATO reported record production performance on 10th January 2022. CLG set a new high in Q4 with a total throughput of 241,397 tonnes, 3.1 percent more from the previous quarter. Moreover, in 2021, 909,586 tonnes were processed, 36% more than that of 2020, which included a 45-day stoppage of plant operations due to the pandemic. Last but not the least, during the fourth quarter, CLG set a new record for silver recovery, with silver, lead, and zinc recoveries all exceeding design rates.
What’s Next?
CLG’s strong fourth-quarter performance in 2021 will be bolstered by increased manufacturing and extraction productivity. Furthermore, the mine was able to increase production to almost 2,600 tonnes per day by the end of the year. Infrastructure improvements will help to ensure that these output gains are sustainable and provide access to the higher ore zones.
After the reagent was placed in the process plant’s flotation circuits, silver, zinc, lead, and gold recoveries improved as well. All of these improvements contributed to a fantastic fourth-quarter performance. CLG will be in a stronger position in 2022 to explore additional cost-cutting and production-improvement initiatives.
