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GATOS SILVER Reports Net Loss of $3.6 Million in Q2 2023
Quarterly Revenue Dips to $2.6 Million for GATOS SILVER, Inc.
GATOS SILVER, Inc.(GATO), a prominent player in th e mining industry, has recently released its unaudited condensed consolidated financial statements for the second quarter of 2023. While the company announced a net loss of $3.6 million for the quarter, the revenue was reported at $2.6 million. This article delves into the details of GATOS SILVER's financial performance and highlights key figures from their balance sheets, income statements, and cash flows.
Balance Sheet Analysis
GATOS SILVER, Inc.'s condensed consolidated balance sheet as of June 30, 2023, shows total assets amounting to $381.3 million. Current assets, which include cash and cash equivalents, related party receivables, and other current assets, sum up to $26.9 million. The company also holds non-current assets, notably an investment in affiliates totaling $354.3 million.
On the liabilities side, current liabilities, including accounts payable and other accrued liabilities, stand at $25.7 million. Non-current liabilities comprise a credit facility, net of debt issuance costs, totaling $8.7 million. Shareholders' equity, which includes common stock, paid-in capital, and accumulated deficit, amounts to $346.9 million.