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Gatos Silver has amended its credit facility with BMO to address potential loan covenant deficiencies with the credit limit reduced from US$50 million to $30 million following the company’s downward reserves adjustment reported in January. It has $13 million currently drawn under the revolver.
Gatos Silver's Cerro Los Gatos operation in Mexico
Gatos must deliver a revised financial model by September 30 to its lenders; which if deemed unsatisfactory will see the credit facility reduced by $5 million a quarter from March 31, 2023.
Shares rally on output performance but reporting problems remain at Mexican silver miner
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