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Gatos Silver Reinstates and Extends $50M Revolving Credit Facility

December 22, 2022

By: Manshi Mamtora, CFA

Gatos Silver (NYSE:GATO) has extended the maturity date and re-established a credit limit of $50M in an amended and restated revolving credit facility with Bank of Montreal.
The revolver includes an accordion feature providing up to an additional $25M of credit.
The revolver is available for general corporate purposes, working capital, acquisitions, and investments.
In view of its strong cash position, the company made a $4M repayment prior to closing.
The current balance outstanding on the revolver is $9M with $41M available for advance.
The maturity date is extended from July 31, 2024 to December 31, 2025.
Availability under the Revolver was previously reduced to $30M on March 8, 2022.
Stock up 1.3% pre-market.