11:50 AM EST, 12/20/2024 (MT Newswires) -- Gatos Silver ( GATO ) late on Thursday said it amended joint venture agreements with Dowa Metals and Mining, effective Jan. 1, to expand Gatos' management rights within the Los Gatos joint venture.

The amendments allow Gatos to fully consolidate the financial statements of the Los Gatos JV rather than accounting for its investment in the joint venture under the equity method of accounting.

The ownership interests in the joint venture are unchanged at 70% for Gatos and 30% for Dowa.

The amended agreements strengthen Dowa's zinc concentrate offtake rights, including amending pre-defined commercial terms and commitments regarding concentrate production and product quality.

The amendments also update the terms for management services provided by Gatos in its oversight of the JV, reduce supermajority voting requirements and provide Gatos with a new sole-funding right for significant mine or plant modifications or expansions.

Gatos shares were last seen up $1.01 to $20.46 on the Toronto Stock Exchange.

Price: 20.46, Change: +1.01, Percent Change: +5.19