2023-08-09 02:18:28 ET
- Gatos Silver press release ( NYSE: GATO ): Q2 GAAP EPS of -$0.05.
- LGJV Q2 2023 results: Revenue of $58.3M (+1.9% Y/Y).
-
Outlook: The Company’s 2023 production and cost guidance remains unchanged. Silver production was higher in the first half of 2023 than the annual guidance run rate as expected in the mine plan. Based on current mine plan sequencing at CLG, the Company expects the quarterly production run rate for silver to be lower and zinc and lead to be slightly higher for the remainder of the year compared with the first half.
-
Quarterly co-product and by-product AISCs are expected to be similar to the second quarter for the remainder of the year. The Company expects ongoing cost reduction initiatives to continue to help offset impacts from the current lower by-product prices and the stronger Mexican peso.
-
The Company continues to expect sustaining capital expenditures at CLG of $45 million in 2023 ($20.7 million spent in H1 2023). Total exploration and resource definition drilling expenditures are now expected to be $16 million in 2023 up from $13 million previously forecast. Of the $16 million, $13 million is expected to be capitalized as a resource development expenditure. In the first half of 2023, exploration expenditures were $1.1 million and capitalized resource definition drilling expenditures were $7.0 million.
For further details see:
Gatos Silver GAAP EPS of -$0.05; reaffirms FY23 outlook