RTTNews | Jan 26, 2022 12:29PM EST

12:29 Wednesday, January 26, 2022 (RTTNews.com) - A Colorado-based mining company, Gatos Silver, Inc. (GATO), saw its stock plunge 69% on the Wednesday market, stooping to its all-time low after the company reported an "error" in its Los Gatos Project in Mexico.

The company said the "error" was in the calculation of its mineral reserve in the mining area which, after correction may reduce between 30% and 50%. The statement said, "At this time, the Company cannot accurately quantify the exact magnitude of the reduction, and the mineral resource and reserve estimates in the 2020 Technical Report should not be relied upon."

The stock is currently trading at $3.11, down $7.07 or 69.43%) since the previous close at $10.19. The stock opened at $4.22 in the morning and in the 52-week period, the stock has ranged between $3.05 to $24.00 per share.

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