---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-23-005282"
form_type: "8-K"
ticker: null
cik: "0001517006"
company_name: "Gatos Silver, Inc."
filed_at: "2023-04-03T23:59:59+00:00"
generated_at: "2026-06-17T06:56:29.415376+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Gatos Silver restates 2021 and 2022 financials due to deferred tax error; delays 2022 10-K

## Summary
- Restatement of 2021 annual and 2022 quarterly financials due to deferred tax asset errors at Los Gatos JV.
- Preliminary estimate: net deferred tax assets understated by $7-11M in 2021; 2021 net income effect nil.
- For nine months ended Sep 2022, Gatos net income to decrease by ~$4-6M from reported $18.3M.
- No effect on production, cash flows, or 2023 guidance; cash balances unchanged.
- Additional material weakness identified in internal controls over income tax reporting.

## SEC filing metadata
- accession: 0000950103-23-005282
- form_type: 8-K
- cik: 0001517006
- company_name: Gatos Silver, Inc.
- filed_at: 2023-04-03T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 4.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1517006/000095010323005282/0000950103-23-005282-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1517006/000095010323005282/dp191799_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-23-005282
- JSON: https://secwatch.observer/filing/0000950103-23-005282.json
- Plain text: https://secwatch.observer/filing/0000950103-23-005282.txt

## Key facts
- Auditor Changes
  Gatos Silver, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: uarters ended March 31, 2022, June 30, 2022 and September 30, 2022 should no longer be relied upon. The determination was made on the basis that such financial statements required certain adjustments primarily related to the timing and recognition of the net deferred tax assets at the Los Gatos Joint Venture (the “LGJV”). The Company’s preliminary analysis indicates that the net deferred tax assets understatement originated in 2021. The Company believes that the net effect of these errors would increase its investment in the LGJV by $7 to $11 million and increase the previously reported non-cash impairment of $51.6 million in the Company’s investment in the LGJV by the same amount in 2021. The impairment was attributable to a reduced life of mine and metal content of the Company’s mineral reserves and resources as previously announced. The Company believes that the net effect of these ad
  evidence_url: https://www.sec.gov/Archives/edgar/data/1517006/000095010323005282/0000950103-23-005282-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.