07:12:24 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Gatos Silver Inc
Symbol GATO
Shares Issued 69,162,223
Close 2022-06-24 C$ 4.32
Market Cap C$ 298,780,803
Recent Sedar Documents

Gatos Silver has no material changes

2022-06-24 16:42 ET - News Release

Ms. Tiffany Osburn reports

GATOS SILVER PROVIDES BI-WEEKLY STATUS REPORT

Gatos Silver Inc. is providing this biweekly default status report in accordance with National Policy 12-203 -- Management Cease Trade Orders (NP 12-203). In its March 18, 2022, news release, the company announced the delay in the filing of its annual report on form 10-K for the year ended Dec. 31, 2021, which includes its audited consolidated financial statements as at and for the year ended Dec. 31, 2021, together with the auditor's report thereon and the notes thereto, its management's discussion and analysis for the year ended Dec. 31, 2021, relating to the audited annual financial statements, and the chief executive officer and chief financial officer certificates relating to its annual filings by the filing deadline of March 31, 2022. In its May 13, 2022, news release, the company announced the delay in the filing of its interim financial filings on form 10-Q for the quarterly period ended March 31, 2022, which includes interim financial statements as at and for the quarterly period ended March 31, 2022, together with its management's discussion and analysis for the quarterly period ended March 31, 2022, relating to the interim financial statements, and the chief executive officer and chief financial officer certificates relating to its interim filings by the filing deadline of May 16, 2022.

The company believes that it will be able to file its annual report on form 10-K for the year ended Dec. 31, 2021, and its quarterly report on form 10-Q for the quarter ended March 31, 2022, in the second half of 2022. The company is also evaluating the material weaknesses in its internal controls over financial reporting related to the mineral reserve reporting errors. The company's financial statements for the year ended Dec. 31, 2021, and quarter ended March 31, 2022, may be affected by the continuing analysis of the aforementioned mineral reserve matters.

A management cease trade order (MCTO) was granted by the Ontario Securities Commission on April 1, 2022, and the Ontario Securities Commission granted an additional management cease trade order on April 12, 2022.

Pursuant to NP 12-203, the company must file biweekly status reports in the form of further news releases during the period from the notice until the MCTO is revoked. The company reports that since the notice: (i) there have been no material changes regarding the information contained in the notice that have not been disclosed in a biweekly default status report; (ii) there have been no failures by the company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines under NP 12-203; and (iii) there has not been any specified default subsequent to the default announced in the notice.

About Gatos Silver Inc.

Gatos Silver is a silver dominant exploration, development and production company that discovered a new silver and zinc-rich mineral district in southern Chihuahua state, Mexico. As a 70-per-cent owner of the Los Gatos joint venture (LGJV), the company is primarily focused on operating the mine and mineral processing plant at the LGJV's Cerro Los Gatos deposit, which started producing in 2019. More than 85 per cent of the approximately 103,087-hectare mineral rights package has yet to be drilled, representing a highly prospective and underexplored district with numerous silver-zinc-lead epithermal mineralized zones identified as priority targets.

We seek Safe Harbor.

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