Gatos Silver, Inc. (GATO) Q1 2021 Earnings Conference Call May 7, 2021 12:00 PM ET
Company Participants
Stephen Orr - Chief Executive Officer
Adam Dubas - Chief Administrative Officer
Roger Johnson - Chief Financial Officer
Phil Pyle - Vice President of Exploration & Chief Geologist
Conference Call Participants
Alex Hunchak - CIBC World Markets
Ryan Thompson - BMO
Operator
Good day and Thank you for standing by. Welcome to the Gatos Silver Q1, 2021 Earnings Call. At this time all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your speaker today, Stephen Orr. Please go ahead.
Stephen Orr
Thank you. Good morning, and I'd like to welcome everyone to Gatos Silver's Q1 2021 Earnings Call. Before I begin, I want to caution our attendees that I'll be making forward looking statements. And these statements aren't guarantees of future performance. They involve risks, uncertainties and assumptions regarding future events that are quite difficult to predict.
So with that turning to slide number 3 and for those who are watching this on the screen, you'll be able to navigate the slides yourself. If you just put your mouse, cursor over the top of the slide, you'll see the navigation arrows appear. Since Gatos Silver's IPO in late 2020, we've been consistently executing initiatives to achieve expected operating performance at Los Gatos and to increase the project's financial flexibility and resume meaningful exploration within and around Los Gatos District.
And during Q1, we used about $113 million of proceeds from our IPO to increase our ownership in the entire Los Gatos District to 70% by purchasing another 18.5% from our JV partner Dowa, Metals and Mining. And we can't currently retired the project's working capital facility thereby delivering on
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