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Gatos Silver (NYSE:GATO) reported Q2 production results on Monday, including a new quarterly record 2,916 metric tons/day mill throughput at its 70%-owned Cerro Los Gatos mine in Mexico.
Q2 silver production fell 13% Y/Y to 2M oz, which the company said was mostly attributable to a 29% decline in silver grades, as expected in the mine plan, and partially offset by the 26% increase in mill throughput.
Q2 zinc production fell 5% Y/Y, lead production declined 18% and gold production slipped 6%, due to lower mill feed grades as expected in the mine plan.
Recoveries for the quarter were marginally lower than in the year-earlier quarter due to lower grades and metallurgical characteristics which can vary Q/Q, the company said.
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