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Silver stocks climbed early on Monday. This came after a surge in retail trading pushed the price of silver to an eight-year high. As the war between Reddit board traders and hedge funds continues, it seems to me that a âsilver squeezeâ could be imminent. Popular subreddit r/WallStreetBets (WSB) could be hinting to bank on silver stocks, which sent prices of the semi-precious metal sharply higher late last week. In detail, one Reddit poster mentioned that the silver bullion market could also be one of the most manipulated on Earth. The user also encouraged many other retail investors to trigger a short squeeze in silver paper shorts.
Gatos Silver puts Mexican mine into production and then lists on TSX/NYSE
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Gatos Silver Announces Initiation of Exploration Drilling in the Los Gatos Region
December 16, 2020 GMT
DENVER (BUSINESS WIRE) Dec 16, 2020
Gatos Silver, Inc. (NYSE/TSX: GATO) (“Gatos Silver” or the “Company”) is pleased to announce the reactivation of drilling through three separate programs that are collectively estimated to require 58,000 meters of exploration and definition drilling at an expected cost of $6.1 million.
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Cerro Los Gatos Infill and Extensional Drilling
Program
The first program is an infill and extensional drilling program at the Cerro Los Gatos deposit within the Los Gatos District Joint Venture (“LGJV”) between the Company and Dowa Metals and Mining Co., Ltd.
Gatos Silver Provides a Company Update and Announces Inclusion in the Russell 2000 Index
Gatos Silver Provides a Company Update and Announces Inclusion in the Russell 2000 Index Gatos Silver, Inc. (NYSE/TSX: GATO) (Gatos Silver or the Company) is a United States corporation that recently completed its initial public offering (IPO) through a dual NYSE and TSX listing in late October 2020, achieving the only dual-listed precious metals IPO on these exchanges since 2010. Gross proceeds from the IPO totaled $173 million, resulting in the largest precious metals IPO since 2010 and the largest precious metals equity financing during 2020. As a new silver-focused precious metals producer, there was broad global investor participation in Gatos Silvers IPO and the Company is proud that its three largest shareholders are now the Electrum Group, Fidelity Investments and The Municipal Employees Retirement System of Michigan (MERS). Upon IPO completion, the shareholder register also include
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Gatos Silver, Inc. (TSX:GATO) ( Gatos Silver or the Company ) is pleased to announce it has been added to the VanEck Vectors Junior Gold Miners ETF ( GDXJ ) pursuant to the GDXJ s fourth quarter rebalance.
Stephen Orr, the Company s Chief Executive Officer, said Gatos Silver recently conducted its initial public offering on the NYSE/TSX (NYSE:GATO) and is proud to be included in the latest GDXJ index so quickly following the Company s public listing. Gatos Silver is one of the few producing silver companies that primarily generates its revenue from silver.
About Gatos Silver
Gatos Silver is a silver dominant exploration, development and production company that discovered a new silver and zinc-rich mineral district in southern Chihuahua State, Mexico. To-date, 14 zones of mineralization have been defined within the district and all are characterized by silver-zinc-lead epithermal mineralization. More than 85% of the approximately 103,087-hectare mineral rights package h
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