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Gatos amends credit facility

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.

Paul Harris
Gatos Silver's Cerro Los Gatos operation in Mexico

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. On a preliminary...

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