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Los Gatos reports large fall in reserves

Gatos Silver shares were down more than 30% pre-market after the company announced errors in the July 2020 resource report for its Los Gatos operation in Chihuahua, Mexico and overestimation in the existing resource model, following reconciliation work.

Gatos Silver's Los Gatos in Chihuahua, Mexico

Gatos Silver's Los Gatos in Chihuahua, Mexico

On a preliminary basis, the company estimates a potential 30-50% reduction of the reserve after depletion of 1.3 million tonnes grading 284 grams per tonne silver, 3.9% zinc, 2.3% lead and 0.3g/t gold...

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