Proactiveinvestors USA & Canada Great Panther Mining Limited https://ca.proactiveinvestors.com Proactiveinvestors USA & Canada Great Panther Mining Limited RSS feed en Sat, 20 Jul 2019 18:50:06 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Noble Capital Markets sets outperform rating and $1.50 price target on Great Panther Mining shares ]]> https://ca.proactiveinvestors.com/companies/news/224170/noble-capital-markets-sets-outperform-rating-and-150-price-target-on-great-panther-mining-shares-224170.html Analysts at Noble Capital Markets have set an outperform rating and $1.50 price target on Great Panther Mining Corp. (TSX:GPR) (NYSE:MKT) shares in a note published in the wake of the firm’s second quarter production results.

In aggregate, Great Panther’s second quarter production increased by 195% to 39,922 gold equivalent ounces versus the prior year period and was up 197% compared to the first quarter of 2019. 

Noble’s analysts pointed out that the significant increase in gold production reflected the firm’s acquisition of the Tucano Gold Mine in March 2019.

Based on the higher production and commodity price expectations, they said they have increased their full year 2019 earnings per share (EPS) and underlying earnings (EBITDA) estimates for Great Panther to $0.01 and $39.3 million from $0.00 and $37.6 million, respectively. 

Their full year 2020 EPS and EBITDA estimates have been increased to $0.14 and $90.8 million from $0.06 and $66.1 million, respectively, the analysts added.

Based on the results of a bulk sample program, the Noble analysts noted that Great Panther also expects to advance the Coricancha mine project to production. 

They said that, assuming development work commences at the beginning of 2020 and following six months of development, that mine is expected to restart mid-year 2020.

The analysts concluded: “In our view, the company is making significant progress toward integrating the recently acquired Tucano mine into its portfolio. 

“Because Tucano's production profile is weighted toward the second half of the year, the equity could gain more investor interest as earnings growth becomes more visible.”

Great Panther shares were trading on Thursday at $0.95 each.

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Thu, 18 Jul 2019 16:53:00 -0400 https://ca.proactiveinvestors.com/companies/news/224170/noble-capital-markets-sets-outperform-rating-and-150-price-target-on-great-panther-mining-shares-224170.html
<![CDATA[News - Great Panther Mining names Jeffrey Mason as board chairman, succeeding Bob Garnett ]]> https://ca.proactiveinvestors.com/companies/news/223996/great-panther-mining-names-jeffrey-mason-as-board-chairman-succeeding-bob-garnett-223996.html Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) the precious metals miner, said Tuesday that Jeffrey R. Mason had been named as the chairman of the board, succeeding R.W. (Bob) Garnett, who remains on the board.

Since joining Great Panther's board in May 2014, Mason has sat on various committees, including most recently as the chair of the special committee developing the strategic direction of the firm and overseeing acquisitions and integration.

READ: Great Panther Mining's improvements at Tucano mine already showing results

"Following the acquisition of the Tucano Gold mine earlier in the year, it was felt that Mr. Mason's blend of governance, finance and mining experience made him a natural successor for the role of chair," the miner said in a brief statement today.

As one of the founding partners of the Hunter-Dickinson Group, he has been senior executive and director of multiple mining companies, and currently serves on the boards of Auryn Resources Inc (TSE:AUG) and Torq Resources Inc (CVE:TORQ), it added.

Garnett has been a director at Vancouver-based Great Panther since May 2011, and served as chairman since February 2012, and has brought a wealth of experience in corporate governance, financial expertise and general business experience.

The company noted that during his tenure, Great Panther had completed two 'significant' acquisitions and had grown the value of its annual precious metals production over five-fold on the basis of its 2019 guidance of between 171,500  and 185,000 gold equivalent ounces.

The board and senior management thank Mr. Garnett for his tremendous contribution and service as chair over the past seven years.

Improvements to plant

Last week, the company revealed that improvements to the plant at the Tucano gold mine in Brazil resulted in higher gold production in the second quarter.

Gold ounces from across the group's mines in the three months to end June came in at 33,461 ounces, compared to 5,492 ounces in the same period of 2018 - an increase of 509%. It was also a 303% increase on the output in the first quarter of 2019.

Tucano was added to the portfolio as a result of the Beadell acquisition in March this year, and in April a supplemental liquid oxygen supply system was successfully commissioned.

Gold ounces from that mine alone amounted to 29,899 ounces in the second quarter, an increase of 27% on the same period of 2018.

The production results came from Tucano and the firm's two Mexican mining operations: the Guanajuato Mine Complex (which includes the San Ignacio mine) and the Topia mine.

In Toronto, shares added 9.7% to C$1.02 In New York, they gained nearly 8% to stand at US$0.78. 

Contact the author at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Tue, 16 Jul 2019 08:12:00 -0400 https://ca.proactiveinvestors.com/companies/news/223996/great-panther-mining-names-jeffrey-mason-as-board-chairman-succeeding-bob-garnett-223996.html
<![CDATA[News - Great Panther Mining's improvements at Tucano mine already showing results ]]> https://ca.proactiveinvestors.com/companies/news/223686/great-panther-mining-s-improvements-at-tucano-mine-already-showing-results-223686.html Improvements to the plant at the Tucano gold mine in Brazil resulted in higher gold production in the second quarter, Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) told investors Wednesday.

Gold ounces from across the group's mines in the three months to end June came in at 33,461 ounces, compared to 5,492 ounces in the same period of 2018 - an increase of 509%. It was also a 303% increase on the output in the first quarter of 2019.

READ THE DEEP DIVE: Growth at Tucano mine in Brazil the key focus for Great Panther Mining this year

Tucano was added to the portfolio as a result of the Beadell acquisition in March this year, and in April a supplemental liquid oxygen supply system was successfully commissioned.

Gold ounces from that mine alone amounted to 29,899 ounces in the second quarter, an increase of 27% on the same period of 2018.

"Great Panther's significant increase in gold production in the second quarter reflects the acquisition of the Tucano gold mine in March of this year," said James Bannantine, Great Panther's CEO, in a statement.

"Tucano achieved production levels of 10,900 gold ounces in May and 12,000 in June, compared to 7,000 ounces in April. This marks an important optimization milestone for Tucano which has significantly higher planned gold production in the third and fourth quarters during the dry season."

The production results Wednesday come from Tucano and the firm's two Mexican mining operations: the Guanajuato Mine Complex (which includes the San Ignacio mine) and the Topia mine.

Ore processed across all three in the second quarter was 782,568 tonnes (2018: 95,169 tonnes). Silver ounces came in at 349,668 ounces (2018: 479,809 ounces), down 27%. Lead production was 453 tonnes, down 6% on the same quarter last year, while zinc output was 575 tonnes, up 9% on last year.

Topia produced 413,467 silver equivalent ounces in Q2, a 7% increase from the same quarter last year,

Production from the Guanajuato complex continues to be sourced entirely from the San Ignacio mine and total metal production there in the quarter was 388,388 silver equivalent ounces, versus 695,829 ounces in 2018.

Great Panther says the focus for the rest of 2019 is the continued optimization of Tucano, whole at the Topia Mine, work continues on the processing plant expansion project which is expected to increase capacity by 25%.

Exploration at GMC is advancing at both mien sites and the firm plans to complete an updated NI 43-101 resource based on this year's exploration program before the end of the year.

Production decision

At the Coricancha mine in Peru, Great Panther made a positive production decision following the completion of a bulk sample program.

A restart date is expected in the first half of 2020 in order to align with the firm's other mining operations, it said.

The miner repeated its full year 2019 production guidance of total gold equivalent ounces of between 171,500 and 185,000 ounces at an AISC (all in sustaining cost) per gold ounce sold, excluding corporate general and administration expenditures of between US$1,030  and US$1,130.

Earlier Wednesday, the firm announced a US$25 million market offering to be used for operational and capital expenditures and working capital.

The precious metal miner said it had struck an at-the-market offering agreement with H.C. Wainwright & Co and Eight Capital, under which Great Panther can, from time-to-time during the term of the agreement, sell its shares having an aggregate gross sales price of up to US$25 million.

Shares in Toronto shed nearly 5% to stand at C$1.02 each.

Contact the author at giles@proactiveinvestors.com

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Wed, 10 Jul 2019 09:35:00 -0400 https://ca.proactiveinvestors.com/companies/news/223686/great-panther-mining-s-improvements-at-tucano-mine-already-showing-results-223686.html
<![CDATA[News - Great Panther Mining arranges US$25M market offering ]]> https://ca.proactiveinvestors.com/companies/news/223676/great-panther-mining-arranges-us25m-market-offering-223676.html Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) said Wednesday it can bring in up to US$25 million via a market offering for operational and capital expenditures and working capital.

In a statement, the intermediate precious metal miner, said it had struck an at-the-market offering agreement (ATM) with H.C. Wainwright & Co and Eight Capital.

The lead agent will be  H.C. Wainwright & Co.

READ THE DEEP DIVE: Growth at Tucano mine in Brazil the key focus for Great Panther Mining this year

"We may use the ATM facility as a means to supplement our capital needs if the need arises", said James Bannantine, Great Panther's president and CEO.

"As noted in our previous disclosures, Great Panther is also reviewing and considering other financing options to refinance debt repaid in connection with the acquisition of Beadell, and to fund our projects and investments, and general working capital."

The company boss said these investments included exploration at Beadell's Tucano mine in Brazil, which started shortly after closing the acquisition in March, various Tucano optimization projects, as well as the Topia Mine expansion in Mexico.

Production decision

On Monday, this week, the miner also told investors it had decided to put its Coricancha gold-silver-lead-zinc-copper underground mine into production.

Under the ATM deal, Great Panther can, from time-to-time, during the term of the agreement, sell, through the lead agent, its shares having an aggregate gross sales price of up to US$25 million.

Sales of the shares will be made in "at the market distributions", as defined in National Instrument 44-102, directly on the NYSE American stock exchange or on any other existing trading market in the United States. 

No offers or sales of the shares will be made in Canada on the Toronto Stock Exchange or other markets in Canada. 

The TSX has conditionally approved the facility, while the under the ATM facility have been approved for listing by the NYSE American, subject to notice of issue, said GPR.

Contact the author at giles@proactioveinvestors.com

Follow him on Twitter@Gile74

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Wed, 10 Jul 2019 07:38:00 -0400 https://ca.proactiveinvestors.com/companies/news/223676/great-panther-mining-arranges-us25m-market-offering-223676.html
<![CDATA[News - Great Panther Mining green lights commercial production at Coricancha mine in Peru ]]> https://ca.proactiveinvestors.com/companies/news/223512/great-panther-mining-green-lights-commercial-production-at-coricancha-mine-in-peru-223512.html Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) is putting its Coricancha polymetallic mine into production, the company announced Monday.

Coricancha is a gold-silver-lead-zinc-copper underground mine and mill complex in Peru, 90 kilometres east of the capital Lima.

The former producing mine is expected to reach full scale production in less than a year.

READ: Great Panther notes key milestones, such as Beadell acquisition, as it unveils 1Q highlights

Vancouver-based Great Panther said in a statement that the decision was made based upon the final results of a bulk sampling program that confirmed the operating assumptions outlined in the Preliminary Economic Assessment (PEA) in May 2018.

"We are pleased with the results of the BSP and look forward to advancing Coricancha towards commercial production,” said Great Panther CEO James Bannantine.

According to the miner, the actual restart date is expected in the first half of 2020 and will be aligned with its other mining operations to ensure the project has the necessary planning and resources in place to optimize operations and profitability. 

Bannantine said that Coricancha is expected to produce approximately 40,000 gold equivalent ounces annually and will be an “important addition” to Great Panther's production portfolio going forward.

Favourable economics

The PEA assumes using standard cut-and-fill mining techniques providing ore to support a target annual throughput rate of 550 tons per day to the mill.

Using base case metal prices, including gold at US$1,300 per ounce and silver at US$16.50 an ounce, Great Panther said the mine was estimated to generate an after-tax net present value of US$16.6 million and an after-tax internal rate of return of 81%.

All-in sustaining costs were estimated by the report to be US$2.20 per payable silver ounce, or US$547 per payable gold ounce, over the life of the mine.

The mine plan envisages 608,053 tons being processed over a life of mine of 3.75 years, with 193,500 tons of annual average throughput.

READ THE DEEP DIVE: Growth at Tucano mine in Brazil the key focus for Great Panther Mining this year

As part of the bulk sampling program, nearly 5,000 tons of mineralized material mined from two veins were processed through the plant. The program produced over 15,500 ounces of silver, 303 ounces of gold, 107,319 pounds of lead and nearly 100,000 pounds of zinc.

Great Panther told shareholders that it identified a number of opportunities to enhance the overall economics of Coricancha and increase the life of the mine by incorporating additional resources not included in the PEA.

The company will keep Coricancha on care and maintenance while additional engineering and operational planning is completed to further de-risk the project.

Shares of Great Panther added nearly 1% in Toronto at C$1.04 and 2% in New York at US$0.80.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Mon, 08 Jul 2019 08:34:00 -0400 https://ca.proactiveinvestors.com/companies/news/223512/great-panther-mining-green-lights-commercial-production-at-coricancha-mine-in-peru-223512.html
<![CDATA[News - Great Panther Mining shareholders appoint eight to board ]]> https://ca.proactiveinvestors.com/companies/news/222790/great-panther-mining-shareholders-appoint-eight-to-board-222790.html Great Panther Mining (TSE:GPR) (NYSEAmerican:GPL), the precious-metals producer, said eight directors had been elected to the board following an annual general meeting and special meeting on June 24.

Shareholders voted 88.22% in favor of setting the number of directors at eight; 97.45% were in favor of appointing KPMG LLP as auditors; and 87.43% in favor of ratifying and approving the amended and restated shareholder rights plan agreement to continue for three more years.

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Tue, 25 Jun 2019 10:17:00 -0400 https://ca.proactiveinvestors.com/companies/news/222790/great-panther-mining-shareholders-appoint-eight-to-board-222790.html
<![CDATA[News - ISS and Glass Lewis endorse Great Panther's new shareholder plan ]]> https://ca.proactiveinvestors.com/companies/news/221893/iss-and-glass-lewis-endorse-great-panther-s-new-shareholder-plan-221893.html Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) reported on Tuesday that two independent proxy advisory firms have shown their support for the miner’s new shareholder plan.

Both Institutional Shareholder Services and Glass Lewis & Co recommended that Great Panther shareholders vote in favour of the company’s amended and reinstated Shareholder Rights Plan, as well as other items to be considered at the upcoming annual general meeting.

ISS and Glass Lewis are both leading independent proxy advisory firms that provide voting recommendations to pension funds, investment managers and institutional shareholders.

READ: Great Panther notes key milestones, such as Beadell acquisition, as it unveils 1Q highlights

Great Panther’s annual general meeting is being held on June 24 in downtown Vancouver.

The company encouraged shareholders to vote using the internet or telephone ahead of the meeting.

The intermediate miner produces precious metals from its three operating mines: Tucano in Brazil, and Guanajuato and Topia, both in Mexico. Great Panther is also considering restarting the Coricancha project in Peru and expects to make a decision in June 2019.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Tue, 11 Jun 2019 09:13:00 -0400 https://ca.proactiveinvestors.com/companies/news/221893/iss-and-glass-lewis-endorse-great-panther-s-new-shareholder-plan-221893.html
<![CDATA[News - Growth at Tucano mine in Brazil the key focus for Great Panther Mining this year ]]> https://ca.proactiveinvestors.com/companies/news/220812/growth-at-tucano-mine-in-brazil-the-key-focus-for-great-panther-mining-this-year-220812.html Great Panther Mining (TSE:GPR) (NYSEAmerican:GPL) has become a new intermediate precious metals producer with its acquisition of Beadell Resources and its Tucano mine in Brazil, which closed in March this year.

The mine is currently the second-largest gold producer in Brazil, producing around 150,000 ounces per year from several open pits, and is sitting on a multi-million ounce deposit. The deal turns Great Panther into a 200,000 gold-equivalent ounce per year producer.

Elsewhere, the firm has assets in Mexico, where it runs the Guanajuato mine complex (which consists of two mines Guanajuato and San Ignacio), which had production of 2.6 million ounces of silver equivalent (Ag Eq) in 2018, and the Topia mine, which produced 1.5 million ounces of silver equivalent (Ag Eq) last year, and where the firm is bidding to lift processing capacity by 25% in a program of work started this January.

In Peru, the firm is evaluating the restart of the gold-silver-copper-lead-zinc Coricancha mine, which is on care and maintenance. A decision is expected in June this year. A bulk sampling program is underway to test the assumptions of a preliminary economic assessment (PEA) issued last year, which showed robust numbers and low capital costs. A re-start at Peru could add another 3M silver equivalent ounces of production per year.

Formerly, the company was known as Great Panther Silver Ltd, but now generates mainly gold (83%) rather than less than 50% previously, hence the name change.

Outlook

The Tucano mine is clearly key to the firm's bid to become a large Latin American focused producer and its addition to the group's assets was felt in the recently announced first quarter results, but the firm says its contribution will increase as it improves output and reduces costs. Tucano produced 123,000 ounces in 2018 at all-in-sustaining costs of US$1,073 per ounce.

Great Panther is projecting 145,000 ounces at US$1,100 per ounce from Tucano for 2019.

As well as lifting output at Tucano, there are also plans to develop near mine exploration targets at the property. The project sits on a 1,500 sq km  highly prospective land package.

This month (May) has seen the successful commissioning at Tucano of  what's called the 'supplemental liquid oxygen supply system', which allows for higher-grade sulphide ore to be processed and achieve designed and budgeted gold recoveries.

The system has been operational since the start of May and has successfully processed sulfide ore at grades as high as 2 g/t (grams per ton) gold with high (94%) recoveries and production is also expected to increase during May as mill availability improves and it is turned back to full capacity.

The miner conceded it had a "weak" fist quarter across the group but that there were "improvements in the grade of ore coming exclusively from its San Ignacio mine and associated plant recoveries since the start of the second quarter.

"Our operations and geology teams remain focused on optimizing San Ignacio, as well as the dedicated exploration at the Guanajuato Mine to be able to bring it back into production next year. Topia's expansion in production and associated capacity expansion is proceeding ahead of plan," the group said in a statement.

In terms of financials, revenue was US$16.7 million in the first quarter, representing a decrease of $0.3 million or 2% compared to the first quarter of 2018 - manly attributable to the decline in metal prices and higher smelting and refining charges. The net loss came in at $9.1 million (versus a loss of $97,000 in the same period a year ago), mostly a result of acquisitions, finance and other income and a decrease in mine operating earnings.

Production costs for 1Q increased by $0.8 million compared to the first quarter of 2018.

And Coricancha could also deliver

The Coricancha project in Peru project includes a  permitted and operational processing plant and gold bioleaching facility with 600t/day capacity.  A preliminary economic assessment (PEA) last year showed US$8.8 million of initial capex for a project, generating average annual silver-equivalent production of 3.1 million ounces. A decision to restart or not is due next month (June).

Using base case metal prices, including gold at US$1,300 per ounce and silver at US$16.50 an ounce, the mine is estimated to generate an after-tax net present value (NPV) of US$16.6mln and an after-tax internal rate of return (IRR) of 81%. Significantly, the mine plan utilizes only 28% of the resource.

The  firm aims to prioritize Tucano exploration, the exploration program at Guanajuato, and the Topia plant expansion and any restart of Coricancha will start in early 2020 if a positive decision is made.

Roth analysts upbeat

In April this year, investment bank Roth was upbeat on the stock, rating shares a repeated 'Buy' and targeting $1.80 a share (current price: $0.68) 

Its valuation is based on a sum-of-the-parts NAV (net asset value) methodology using an 8% discount rate for the GMC and Topia and a 12% discount rate for Coricancha. The valuation did not include production from Tucano.

"...we expect the company to maintain focus on integrating the Tucano Gold mine in Brazil, which we view as a key value driver," said analyst Jake Sekelsky.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

 

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Wed, 22 May 2019 15:16:00 -0400 https://ca.proactiveinvestors.com/companies/news/220812/growth-at-tucano-mine-in-brazil-the-key-focus-for-great-panther-mining-this-year-220812.html
<![CDATA[Media files - Great Panther Mining province update on Tucano Mine and releases Q-1 revenue numbers ]]> https://ca.proactiveinvestors.com/companies/stocktube/13388/great-panther-mining-province-update-on-tucano-mine-and-releases-q-1-revenue-numbers-13388.html Thu, 16 May 2019 16:05:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/13388/great-panther-mining-province-update-on-tucano-mine-and-releases-q-1-revenue-numbers-13388.html <![CDATA[News - Great Panther notes key milestones, such as Beadell acquisition, as it unveils 1Q highlights ]]> https://ca.proactiveinvestors.com/companies/news/220368/great-panther-notes-key-milestones-such-as-beadell-acquisition-as-it-unveils-1q-highlights-220368.html Great Panther Mining Ltd (TSE:GPR) (NYSEAMERICAN:GPL) noted a number of key milestones, including the acquisition of Beadell Resources and its Tucano Mine in Brazil, as it posted its results for the quarter ended March 31, 2019. 

"Great Panther completed a key strategic milestone in the first quarter of 2019 by closing the acquisition of Beadell Resources and its 100% owned Tucano Mine in Brazil," said president and CEO James Bannantine in a statement. "The acquisition of the Tucano Mine transforms Great Panther into a 200,000 gold equivalent ounce per year intermediate precious metals producer with diversified operations in leading Latin American jurisdictions."

Great Panther operates the Tucano mine in Amapá State, Brazil, and two primary silver mines in Mexico: the Guanajuato Mine Complex (GMC) and the Topia Mine. It also has an advanced stage development project in Peru.

READ: Great Panther Mining set to increase gold production at Brazil mine after plant upgrade

Great Panther completed the acquisition of Beadell Resources Limited in March, which contributed modestly to first quarter results, according to the firm. It holds a 100% interest in the Tucano project, which is located in Amapá State in northern Brazil.

Bannantine noted production and operating costs are already improving at Tucano, a result of the supplemental oxygen plant commissioning completed as of the start of May.

"Tucano has been successfully processing higher grade sulfide ore with better than budgeted recoveries since the end of April," said Bannantine.  "GMC had a weak quarter and did not perform to plan, however, we have seen improvements in the grade of ore coming exclusively from the San Ignacio mine and associated plant recoveries since the start of the second quarter. Our operations and geology teams remain focused on optimizing San Ignacio, as well as the dedicated exploration at the Guanajuato Mine to be able to bring it back into production next year. Topia's expansion in production and associated capacity expansion is proceeding ahead of plan."

Financial results

Great Panther reported revenues of C$16.7 million in 1Q, representing a decrease of $0.3 million or 2% compared to the first quarter of 2018. The company noted this was primarily attributable to the decline in metal prices and higher smelting and refining charges. Its net loss came in at $9.1 million, mostly a result of acquisitions, finance and other income and a decrease in mine operating earnings. 

Production costs for 1Q increased by $0.8 million compared to the first quarter of 2018.

Yesterday, shares in New York shed 0.53% to stand at $0.78. In Toronto, shares were unchanged at $1.05.

Looking ahead

Great Panther said the key focus for 2019 will be to optimize operations at Tucano including implementing cost-saving and efficiency measures to improve profitability and reduce costs.

The recent successful commissioning of the supplemental liquid oxygen supply system is expected to increase production and reduce unit costs.

On a conference call, Bannantine said that already within the firm's budget were plans to replace the primary crusher at Tocano too, while keeping its target of 300,000 tonnes of throughput a month.

"We think we can do that  with limited production interruption," he  said.

On Thursday, Great Panther shares  were down 3.81% to $1.01 in Toronto and fell nearly 3% in New York at $0.76.

Contact Katie Lewis at katie@proactiveinvestors.com

--Updates with details on outlook and share price--- 

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Wed, 15 May 2019 18:21:00 -0400 https://ca.proactiveinvestors.com/companies/news/220368/great-panther-notes-key-milestones-such-as-beadell-acquisition-as-it-unveils-1q-highlights-220368.html
<![CDATA[News - Great Panther Mining set to increase gold production at Brazil mine after plant upgrade ]]> https://ca.proactiveinvestors.com/companies/news/220235/great-panther-mining-set-to-increase-gold-production-at-brazil-mine-after-plant-upgrade-220235.html Great Panther Mining (TSE:GPR) (NYSEAMERICAN:GPL) can now process higher grade ore due to a plant upgrade at its Tucano gold mine in Brazil ,an asset that came through its now-completed acquisition of Beadell Resources.

The plant has now seen the successful commissioning of the supplemental liquid oxygen supply system, which will allow for the processing of the higher-grade sulphide ore and achieve designed and budgeted gold recoveries, the metals miner said.

READ: Great Panther Mining names mining engineer Kevin Ross as director

The system has been operational since the start of May and has successfully processed sulfide ore at grades as high as 2 g/t (grams per ton) gold with high (94%) recoveries.

"We are very happy to successfully conclude what was probably the most important single element in the Tucano turnaround, which is ongoing and progressing well.  This is also a critical accomplishment for the new Great Panther Mining team, as we integrate our teams into one," said CEO James Bannantine.

By way of comparison, Great Panther revealed that from May 1 to May 13, it milled 83,201 dry tonnes, at a feed grade of 1.75 g/t of gold, recovering 4,429 ounces of the yellow metal, a 94.5% recovery rate.

In April this year, Great Panther  milled 254,700 tonnes, at a feed grade of 0.98 g/t, recovering 7,020 ounces, a recovery rate of 87.6%.

Gold production expected to increase

Gold production is expected to increase during the month of May as mill availability improves and the mill is turned back to full capacity.

The addition of the oxygen system completes the recent plant upgrade of ball mill, thickener, additional CIL tankage and oxygen supply to handle the mine's future sulfide production.

Great Panther operates three mines, including Tucano in Amapá State, Brazil, and two primary silver mines in Mexico: the Guanajuato Mine Complex and the Topia Mine. 

It is also evaluating the restart of the Coricancha project in Peru and expects to make a decision on whether or not to restart the project in June this year.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Tue, 14 May 2019 09:24:00 -0400 https://ca.proactiveinvestors.com/companies/news/220235/great-panther-mining-set-to-increase-gold-production-at-brazil-mine-after-plant-upgrade-220235.html
<![CDATA[News - Great Panther Mining names mining engineer Kevin Ross as director ]]> https://ca.proactiveinvestors.com/companies/news/219818/great-panther-mining-names-mining-engineer-kevin-ross-as-director-219818.html Great Panther Mining (TSE:GPR) (NYSEAMERICAN:GPL), the metals miner, has appointed mining engineer Kevin Ross as a director effective immendiately.

Ross has over four decades' experience leading mining operations in Africa, Europe, North America and Latin America and is currently the chief operating officer of Orca Gold Inc, where he is leading studies to develop a gold mine in Sudan.

READ: Roth reiterates Great Panther Mining's Buy rating as it expands focus to gold

He holds a BSc (mining engineering) from the Royal School of Mines, in London, England and an MBA from Cranfield School of Management, and is a registered European Engineer.

"We are pleased to welcome Ross to Great Panther's Board of Directors," said Bob Garnett, the chairman of Great Panther. "Kevin brings a complementary set of skills and expertise as a mining engineer, operator and senior business leader that are invaluable to the Company as we seek to execute on our growth and exploration plans for our operating assets and projects in Brazil, Peru and Mexico."

Great Panther operates three mines including the Tucano Gold Mine in Amapá State, Brazil, and two silver mines in Mexico: the Guanajuato Mine Complex and the Topia Mine.

It is also evaluating the restart of the Coricancha project in Peru and expects to make a decision in this regard in 2019.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Tue, 07 May 2019 10:41:00 -0400 https://ca.proactiveinvestors.com/companies/news/219818/great-panther-mining-names-mining-engineer-kevin-ross-as-director-219818.html
<![CDATA[News - Roth reiterates Great Panther Mining's Buy rating as it expands focus to gold ]]> https://ca.proactiveinvestors.com/companies/news/218351/roth-reiterates-great-panther-mining-s-buy-rating-as-it-expands-focus-to-gold-218351.html Roth Capital Partners reiterated its Buy rating and price target for Great Panther Mining (TSE:GPR) (NYSEAmerican:GPL) on Wednesday – and the precious metals producer's shares responded, with a 2.4% bumpt to C$0.98 in Toronto and 2.4% to US$0.97 in New York. 

Roth stuck to its Buy rating and $1.80 price target for the intermediate precious metals producer, which is focused on Latin America. 

On Wednesday, Great Panther released its first quarter 2019 production results on Tuesday from its three mines, including the recently acquired Tucano Gold Mine in Amapá State, Brazil, and two silver mines in Mexico: the Guanajuato Mine Complex and the Topia Mine.

READ: Great Panther Mining releases promising production results from projects in Brazil and Mexico

In its report, Roth analysts highlighted the closing of Great Panther Mining's acquisition of Beadell Resources and the Tucano Gold mine, adding that in its view, it has elevated the company to an intermediate precious metals producer.

The company has increased its exposure to gold, which prompted a name change from Great Panther Silver to Great Panther Mining.

"With the increased size of the combined entity, we believe a stronger capital markets presence could result in a re-rating of the company," wrote Roth analysts. "In short, we view the transaction as transformational step forward in the company's goal of becoming a large Latin American focused precious metals producer."

Tucano gold mine a 'key value driver'

In its report, Roth Analysts also wrote that Great Panther's newest mine, the Tucano gold mine, is viewed as a "key value driver," adding "the integration of the Tucano Mine appears well underway as management is currently focused on commissioning the supplemental oxygen supply, which is expected to allow for the processing of higher-grade material and increase overall recoveries."

For now, Roth's existing estimates have not incorporated production from Tucano, but plans to revisit this following Great Panther's 1Q 2019 financial results. 

Roth also highlighted potential risk factors, which could include underperformance of commodity prices going forward. 

Shares of Great Panther were at C$1.29 in Toronto on Tuesday, and US$ 0.95 in New York.

Contact Katie Lewis at katie@proactiveinvestors.com

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Wed, 10 Apr 2019 13:04:00 -0400 https://ca.proactiveinvestors.com/companies/news/218351/roth-reiterates-great-panther-mining-s-buy-rating-as-it-expands-focus-to-gold-218351.html
<![CDATA[News - Great Panther Mining releases promising production results from projects in Brazil and Mexico ]]> https://ca.proactiveinvestors.com/companies/news/218266/great-panther-mining-releases-promising-production-results-from-projects-in-brazil-and-mexico-218266.html Great Panther Mining Ltd (TSE:GPR) (NYSEAmerican:GPL) released encouraging first quarter 2019 production results on Tuesday from its three mines, including the recently acquired Tucano Gold Mine in Amapá State, Brazil, and two silver mines in Mexico: the Guanajuato Mine Complex and the Topia Mine.

The company recently completed the US$105 million acquisition of Beadell Resources Limited. The move will add roughly 200,000 of gold equivalent ounces for 2019 and push Great Panther into the ranks of intermediate precious metals producers.

In Q1 2019, the company reported production of 14,860 ounces of consolidated gold equivalent, a bump from its Q4 2018 production of 11,897 ounces. The company processed 263,821 tonnes of ore in the first quarter.  

"We have begun the important task of integrating our newest mine, the Tucano gold mine, into our portfolio of precious metals mines and projects," said James Bannantine, president and chief executive officer, in a statement. "Given the timing of the Beadell acquisition, our consolidated results for the first quarter only reflect Tucano operating results for the last three weeks of the first quarter. Despite this, consolidated gold equivalent metal production increased by 25% compared to the last quarter of 2018.

READ: Great Panther Mining completes acquisition of Beadell Resources, makes name change official

"In addition to production, the Tucano gold mine immediately adds significant gold reserves and resources and, together with our Mexican operations, has transformed the company into a new intermediate precious metals producer focused on Latin America," added Bannantine.

Great Panther also reported 1Q production of 338,431 ounces of silver, 481 tonnes of lead and 662 tonnes of zinc.

Tucano gold mine looks bright

Great Panther reporter that for the short period from the March 5, 2019 closing of the acquisition of Beadell to the end of the first quarter, 5,164 ounces of gold were produced.

During that period, a total of 1.57 million tonnes of material was moved, with 194,000 tonnes being processed, with an average grade of 0.95 grams per tonne gold. 

"We are focused on completing the commissioning of the supplemental oxygen supply at Tucano before the end of this month, which is designed to enable the processing of higher-grade ore and increase gold recoveries," said Bannantine. 

Topia and Guanajuato mines

At its Topia Mine in Durango State, Mexico, Great Panther reported total metal production in 1Q increased to a record 420,926 silver equivalent ounces, representing increases 8% and 16%, respectively, compared with 1Q 2018 and 1Q 2017.

The company said the rise in production was attributed to more tonnage being processed and higher head grades.

At its Guanajuato mine project in Durango, Great Panther said it commenced a multi-mine optimization strategy at the start of 2019.

"In addition to a planned expansion of the Topia processing plant, this involved only sourcing production for the GMC from the San Ignacio mine, enabling a focused exploration program for the Guanajuato mine aimed at growing higher margin resources," said the company in a statement, adding further cost reduction measures were taken to lower fixed costs and overhead. 

Shares of Great Panther were at C$1.29 in Toronto on Tuesday, and US$ 0.95 in New York.

Contact Katie Lewis at katie@proactiveinvestors.com

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Tue, 09 Apr 2019 12:52:00 -0400 https://ca.proactiveinvestors.com/companies/news/218266/great-panther-mining-releases-promising-production-results-from-projects-in-brazil-and-mexico-218266.html
<![CDATA[News - Great Panther Mining announces board change ]]> https://ca.proactiveinvestors.com/companies/news/217472/great-panther-mining-announces-board-change-217472.html Great Panther Mining Ltd (TSE:GPR) (NYSEAMERICAN:GPL) announced Thursday that Dr. Nicole Adshead-Bell has stepped down from its board of directors. 

"On behalf of Great Panther and our shareholders, I would like to thank Nikki for her support and contributions in respect of Great Panther's acquisition of Beadell Resources Ltd. As the CEO and managing director of Beadell, she saw the strong merits of the combination and worked tirelessly to achieve a deal that was in the best interests of our respective shareholders," said Bob Garnett, chair of Great Panther. "We wish her great success in her future endeavours."

READ: Great Panther Mining completes acquisition of Beadell Resources, makes name change official

Great Panther operates three mines, including the Tucano Gold Mine in Amapá State, Brazil, and two primary silver mines in Mexico: the Guanajuato Mine Complex and the Topia Mine. Great Panther is also evaluating the restart of the Coricancha project in Peru. 

Shares of Great Panther were at C$1.29 in Toronto on Thursday. 

Contact Katie Lewis at katie@proactiveinvestors.com

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Thu, 28 Mar 2019 20:06:00 -0400 https://ca.proactiveinvestors.com/companies/news/217472/great-panther-mining-announces-board-change-217472.html
<![CDATA[News - Great Panther Mining completes acquisition of Beadell Resources, makes name change official ]]> https://ca.proactiveinvestors.com/companies/news/215826/great-panther-mining-completes-acquisition-of-beadell-resources-makes-name-change-official-215826.html Great Panther Silver Ltd (TSE:GPR) (NYSEAmerican:GPL) told investors Tuesday that it has completed the US$105 million acquisition of Beadell Resources Limited and officially changed its name to Great Panther Mining Limited.

In a statement, CEO James Bannantine said the Beadell deal would add roughly 200,000 of gold equivalent ounces for 2019 and push Great Panther into the ranks of intermediate precious metals producers.

“We are very pleased to close the important transaction that immediately transforms Great Panther into an intermediate precious metals producer with a strong and diversified portfolio of producing mines, advanced stage growth projects, and exploration assets,” said Bannantine in a statement.

READ: Great Panther Silver shareholders approve Beadell Resources acquisition and name change

The new metals producer will boast a diversified portfolio of producing mines in Mexico and Brazil and an advanced stage development project in Peru.

Great Panther operates three mines, including the Tucano Gold Mine in Amapá State, Brazil, and two primary silver mines in Mexico: the Guanajuato Mine Complex and the Topia Mine. Great Panther is also evaluating the restart of the Coricancha project in Peru and expects to make a decision on whether or not to restart the project by the end of March 2019.

Going forward, Bannantine says Great Panther’s focus will be on the integration of its Brazilian operations and advancing an exploration program to tap into the potential of the Tucano Gold Mine.

Beadell’s production of 123,000 gold ounces in proforma 2018 will complement Great Panther's own output of 4.17 million silver equivalent ounces.

READ: Great Panther Silver's Beadell acquisition gets second endorsement from big name proxy advisory firm

The combination will also add extensive reserve and resources, including 1.3 million ounces of gold in proven and probable reserves, and 2 million ounces of measured and indicated gold resources.

As part of the acquisition, Dr Nicole Adshead-Bell, former CEO and managing director of Beadell, joins Great Panther’s board of directors.

Under the deal's terms, Great Panther acquired 100% of Beadell through the issuance of more than 103 million Great Panther shares to Beadell shareholders. The share exchange represents a ratio of 0.0619 Great Panther shares for each Beadell share.

Beadell's shares stopped trading on the Australian Securities Exchange on February 18 and are expected to be delisted on March 6, 2019.

Great Panther shares slipped C$.01 to finish at C$1.16 on Monday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Tue, 05 Mar 2019 08:34:00 -0500 https://ca.proactiveinvestors.com/companies/news/215826/great-panther-mining-completes-acquisition-of-beadell-resources-makes-name-change-official-215826.html
<![CDATA[News - Great Panther Silver expects 25% increase in Topia mine output this year; posts 2018 results ]]> https://ca.proactiveinvestors.com/companies/news/215628/great-panther-silver-expects-25-increase-in-topia-mine-output-this-year-posts-2018-results-215628.html Great Panther Silver Ltd (TSE:GPR) (NYSEAMERICAN:GPL) said it expects output at its Topia mine in Mexico to increase 25% this year, as it posted financial results for full year 2018.

The Vancouver-based company has two wholly-owned operating mines in Mexico - the Guanajuato Mine Complex (GMC) and Topia.

The planned increase at Topia will be due to improved processing capacity, the company told investors, while at GMC the firm has taken steps to reduce costs and maximize operating cash flow.

READ: Great Panther Silver gets green light to acquire Beadell Resources

All production for GMC this year will be sourced from the lower cost San Ignacio Mine, which will allow for a focused exploration program for the Guanajuato Mine aimed at growing higher margin resources, it added.

Also for 2019, the firm expects to close its scale-shifting Beadell Resources acquisition early this month (March).

James Bannantine, president and CEO of Great Panther said 2018 had seen strategic advances for the company but metal prices had been challenging. This, combined with higher operating costs and investments in exploration and its plan to acquire Beadell Resources, had all contributed to a loss for the year, but 2019 will be a year of change, he said.

Lower prices, higher costs

"Significantly lower silver prices and higher costs driven by geology at our Guanajuato Mine in the third quarter reduced mine operating earnings year-over-year," he said. "Furthermore, we continued to fully expense the advancement of our Coricancha project in Peru. These factors were the primary contributors to our loss this year. 

"With regard to our costs in Mexico, we took quick action to implement cost reduction and restructuring measures and started to realize cost reductions in the fourth quarter. We also invested significantly in corporate development, which culminated in a transformational deal to acquire Beadell Resources Limited that will formally close in early March."

For the year to end December, mine operating earnings came in at US$8.1 million versus US$17.7mln last year, while revenue was down 7% to US$59.4 million compared to US$63.7 million last year.

The net loss was US$10.1 million compared to an income of US$1.3 million in 2017.

Contact Giles at giles@proactiveinvestors.com

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Fri, 01 Mar 2019 08:56:00 -0500 https://ca.proactiveinvestors.com/companies/news/215628/great-panther-silver-expects-25-increase-in-topia-mine-output-this-year-posts-2018-results-215628.html
<![CDATA[News - Great Panther Silver gets green light to acquire Beadell Resources ]]> https://ca.proactiveinvestors.com/companies/news/214905/great-panther-silver-gets-green-light-to-acquire-beadell-resources-214905.html Great Panther Silver Ltd (TSE:GPR) (NYSEAMERICAN:GPL) expects closing of its acquisition of  Beadell Resources Ltd to take place in the first week of March.

On February 15 this year, Beadell received final orders from the Supreme Court of Western Australia approving the acquisition, which became effective on February 18, 2019.

As reported, respective shareholders of Great Panther and Beadell approved the transaction at their respective shareholder meetings held last week.

READ: Beadell Resources shareholders approve Great Panther Silver acquisition

 

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Tue, 19 Feb 2019 12:44:00 -0500 https://ca.proactiveinvestors.com/companies/news/214905/great-panther-silver-gets-green-light-to-acquire-beadell-resources-214905.html
<![CDATA[Media files - Great Panther Silver shareholders vote over 96 percent in favour of Beadell acquisition ]]> https://ca.proactiveinvestors.com/companies/stocktube/12221/great-panther-silver-shareholders-vote-over-96-percent-in-favour-of-beadell-acquisition-12221.html Wed, 13 Feb 2019 16:58:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/12221/great-panther-silver-shareholders-vote-over-96-percent-in-favour-of-beadell-acquisition-12221.html <![CDATA[News - Beadell Resources shareholders approve Great Panther Silver acquisition ]]> https://ca.proactiveinvestors.com/companies/news/214475/beadell-resources-shareholders-approve-great-panther-silver-acquisition-214475.html Great Panther Silver Ltd (TSE:GPR) (NYSEAMERICAN:GPL) announced that Beadell Resources shareholders in Perth had approved the scheme of arrangement, which will see Beadell being acquired by the former and that closing of the deal is expected in the first week of March.

"We are very pleased to receive Beadell's shareholders' support on this important transaction," said James Bannantine, Great Panther's president and CEO.

READ: Great Panther Silver shareholders approve Beadell Resources acquisition and name change

"This combination benefits both Beadell and Great Panther shareholders and provides investors with meaningful exposure to precious metals across a diversified portfolio of producing, advance stage and exploration assets in the Americas."

Yesterday, Great Panther shareholders approved the US$105 million acquisition of Beadell Resources, along with plans to change its name to Great Panther Mining Ltd.

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Tue, 12 Feb 2019 10:17:00 -0500 https://ca.proactiveinvestors.com/companies/news/214475/beadell-resources-shareholders-approve-great-panther-silver-acquisition-214475.html
<![CDATA[News - Great Panther Silver shareholders approve Beadell Resources acquisition and name change ]]> https://ca.proactiveinvestors.com/companies/news/214388/great-panther-silver-shareholders-approve-beadell-resources-acquisition-and-name-change-214388.html Great Panther Silver Ltd (TSE:GPR) (NYSEAMERICAN:GPL) shares ticked higher in Toronto as shareholders approved its US$105 million acquisition of Beadell Resources along with plans to change its name to Great Panther Mining Ltd.

A special meeting was held earlier today, while Beadell shareholders will meet later today in Perth to vote on the acquisition.

"The acquisition of Beadell is transformational for Great Panther, resulting in the creation of a new growth-oriented intermediate precious metals producer with a strong balance sheet and diverse asset portfolio including three producing mines, an advanced stage project, and significant exploration potential," said James Bannantine, president and CEO of Great Panther, as he thanked shareholders.

The firm revealed that 96.71% of shareholders approved the acquisition and 96.63% approved the change of name.

As previously reported, the new metals producer will boast a diversified portfolio of producing mines in Mexico and Brazil and an advanced stage development project in Peru.

Beadell’s production of 123,000 gold ounces in proforma 2018 will complement Great Panther's own output of 4.17 million silver equivalent ounces.

The combination will also add extensive reserve and resources, including 1.3 million ounces of gold in proven and probable reserves, and 2 million ounces of measured and indicated gold resources.

Last month, two big-name proxy advisory firms Glass Lewis & Co and Institutional Shareholder Services Inc recommended that shareholders vote in favor of the plan.
If Beadell shareholders vote in favour of the move, the acquisition is expected to close in the first week of March.

The name change will become effective upon closing, while the company will continue to trade on the Toronto Stock Exchange under the symbol GPR and NYSE American under the symbol GPL.

Great Panther shares nudged up 2.2% in Toronto to $0.99.

 

-- updated share price -- 

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Mon, 11 Feb 2019 14:46:00 -0500 https://ca.proactiveinvestors.com/companies/news/214388/great-panther-silver-shareholders-approve-beadell-resources-acquisition-and-name-change-214388.html
<![CDATA[News - Great Panther Silver's Beadell acquisition gets second endorsement from big name proxy advisory firm ]]> https://ca.proactiveinvestors.com/companies/news/213633/great-panther-silver-s-beadell-acquisition-gets-second-endorsement-from-big-name-proxy-advisory-firm-213633.html Great Panther Silver Ltd (TSE:GPR) (NYSEAMERICAN:GPL) revealed it has received another endorsement for its proposed acquisition of Beadell Resources Ltd.

The Vancouver-based resource firm said that a second proxy advisory firm Glass Lewis & Co had recommended that shareholders vote in favor of the plan.

On January 16 this year, proxy advisory firm Institutional Shareholder Services Inc (ISS) also recommended shareholders vote in favor.

READ: Great Panther says proxy advisory firm ISS recommends shareholder support for Beadell deal

"The arrangement would create a geographically and developmentally diversified enterprise with clearer financial stability and a stronger ability to pursue attractive alternatives, including those related to (Great Panther's) Coricancha asset and Beadell's Tucano asset," said Glass Lewis.

Founded in 2003, Glass Lewis is based in San Francisco and is one of the most prominent proxy advisory services in the world.

Great Panther agreed in September last year to acquire Beadell for US$105 million. After closing the deal, the company plans to change its name to Great Panther Mining Ltd.

The proxy voting deadline for Great Panther shareholders is 9 am Pacific time on February 7. A special meeting of Great Panther shareholders is scheduled for February 11 in Vancouver.

The new metals producer will boast a diversified portfolio of producing mines in Mexico and Brazil, and an advanced stage development project in Peru.

Add to production stats

Beadell’s production of 123,000 gold ounces in proforma 2018 will complement its own output of 4.17 million silver equivalent ounces.

The combination will also add extensive reserve and resources, including 1.3 million ounces of gold in proven and probable reserves, and 2 million ounces of measured and indicated gold resources.

It's already been a busy news week for Great Panther Silver Ltd. Yesterday, it told investors it had lifted the mineral resource at its Topia mine in Mexico, supporting its plans to lift metals production by around 25% in 2019.

The higher confidence measured and indicated resource category was increased by 28% since the last estimate in 2014 to 475,900 tonnes at a grade of 461 g/t (grams per ton) silver, 1.35 g/t gold, 3.87% lead and 4.06% zinc.

That contains 14.77 million silver equivalent ounces.

"This update provides for a long mine life at Topia and supports the planned increase in processing capacity which is expected to increase 2019 production by approximately 25%. In addition, the conversion of inferred resources and further exploration potential provide a good opportunity to further extend mine life," said James Bannantine, the president and CEO.

Shares in Toronto were unchanged at $0.95.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter @Gile74

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Wed, 30 Jan 2019 09:59:00 -0500 https://ca.proactiveinvestors.com/companies/news/213633/great-panther-silver-s-beadell-acquisition-gets-second-endorsement-from-big-name-proxy-advisory-firm-213633.html
<![CDATA[News - Great Panther Silver's new resource estimate at Topia mine bodes well for plans to increase output this year by 25% ]]> https://ca.proactiveinvestors.com/companies/news/213527/great-panther-silver-s-new-resource-estimate-at-topia-mine-bodes-well-for-plans-to-increase-output-this-year-by-25-213527.html Great Panther Silver Ltd (TSE:GPR) (NYSEAMERICAN:GPL) has lifted the mineral resource at its Topia mine in Mexico, supporting its plans to lift metals production by around 25% in 2019.

The higher confidence measured and indicated resource category was increased by 28% since the last estimate in 2014 to 475,900 tonnes at a grade of 461 g/t (grams per ton) silver, 1.35 g/t gold, 3.87% lead and 4.06% zinc.

That contains 14.77 million silver equivalent ounces.

The inferred resources decreased by 3% over the same period, to 400,400 tonnes grading 434 g/t silver, 1.34 g/t gold, 2.86% lead, and 2.97% zinc, containing 10.72 million silver equivalent ounces.

James Bannantine, Great Panther's President and CEO, told investors: "The company was able to increase the resources even after mine depletion over the past four years.

"This update provides for a long mine life at Topia and supports the planned increase in processing capacity which is expected to increase 2019 production by approximately 25%. In addition, the conversion of inferred resources and further exploration potential provide a good opportunity to further extend mine life."

Output from the mine in Durango state since the previous resource estimate in 2014 has totalled 221,600 with average grades of 357 g/t silver, 0.67 g/t gold, 2.27% lead, and 3.03% zinc. That contains 4.84 million silver equivalent ounces.

Vancouver-based firm Great Panther has two wholly-owned operating mines in Mexico. They are the Guanajuato Mine Complex and the Topia mine.

It also expects to make a decision on whether or not to restart the Coricancha project in Peru by the end of March this year and anticipates closing the acquisition of gold producer Beadell Resources Ltd shortly after respective shareholder votes during the week of February 11, 2019.

Shares advanced  3.23% in Toronto to stand at $0.96 each.

Contact Giles at giles@proactiveinvestors.com

--UPDATES FOR SHARE PRICE MOVE-- 

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Tue, 29 Jan 2019 08:51:00 -0500 https://ca.proactiveinvestors.com/companies/news/213527/great-panther-silver-s-new-resource-estimate-at-topia-mine-bodes-well-for-plans-to-increase-output-this-year-by-25-213527.html
<![CDATA[News - Great Panther Silver expects to lift Topia mine output by 25% this year due to increased processing capacity ]]> https://ca.proactiveinvestors.com/companies/news/212811/great-panther-silver-expects-to-lift-topia-mine-output-by-25-this-year-due-to-increased-processing-capacity-212811.html Great Panther Silver Ltd (TSE:GPR) (NYSEAMERICAN:GPL) said it expects output at its Topia mine to increase around 25% in 2019 as it updated on guidance for the coming year on its Mexican operations.

The forecasts relate to the company's Topia mine and the Guanajuato mine complex (GMC), which includes the San Ignacio mine and the Guanajuato mine.

READ: Great Panther s ays proxy advisory firm ISS recommends shareholder support for Beadell deal

Vancouver-based Great Panther said it had undertaken a multi-mine optimization strategy, under which the entire production for the GMC will be sourced from the lower cost San Ignacio Mine.

This will allow a focused exploration program for the Guanajuato mine aimed at growing higher margin resources, it said.

Across the operations, production in 2019 is expected to be in the range of between 3.7 and 4 million silver equivalent ounces (Ag Eq oz).

In addition, a planned increase in the processing capacity from the Topia mine in 2019 is expected to increase production by approximately 25% compared to 2018, the company said.

All-in sustaining costs (AISC), not including corporate general and administrative expenses, are put at between $10 and 12 per ounce.

"We have taken the step of realigning our Mexican operations to reduce unit costs and maximize mine operating cash-flow, with a modest reduction in our production ounces," said James Bannantine, president and CEO.

Improvement of Mexico operations is important

He said the continuous improvement of the Mexican operations was important to the firm's primary growth initiatives that include completing the acquisition of Beadell Resources Limited.

This is expected to close shortly after respective shareholders vote during the week of February 11, and also the completion of the latest phase of the Coricancha project in Peru to move towards a production decision by the end of March.

Yesterday, Great Panther said proxy advisory firm Institutional Shareholder Services Inc has recommended that shareholders vote in favor of the company’s acquisitions of Beadell Resources Ltd.

"The merger makes strategic sense as it will create a new emerging intermediate metals producer and will result in significant pro forma gold and silver production,” ISS said.

Great Panther agreed in September to acquire Beadell for US$105 million. After completion of the deal, the company plans to change its name to Great Panther Mining Ltd.

Shares in Toronto added 1.20% to $0.84.

Contact Giles at giles@proactiveinvestors.com 

Follow him on Twitter @Gile74

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Thu, 17 Jan 2019 10:01:00 -0500 https://ca.proactiveinvestors.com/companies/news/212811/great-panther-silver-expects-to-lift-topia-mine-output-by-25-this-year-due-to-increased-processing-capacity-212811.html
<![CDATA[Media files - Institutional Shareholder Services gives thumbs up to Great Panther/Beadell merger ]]> https://ca.proactiveinvestors.com/companies/stocktube/11867/institutional-shareholder-services-gives-thumbs-up-to-great-pantherbeadell-merger-11867.html Wed, 16 Jan 2019 15:53:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/11867/institutional-shareholder-services-gives-thumbs-up-to-great-pantherbeadell-merger-11867.html <![CDATA[News - Great Panther says proxy advisory firm ISS recommends shareholder support for Beadell deal ]]> https://ca.proactiveinvestors.com/companies/news/212707/great-panther-says-proxy-advisory-firm-iss-recommends-shareholder-support-for-beadell-deal-212707.html Great Panther Silver Ltd (TSE:GPR) (NYSEAMERICAN:GPL) said Wednesday that the proxy advisory firm Institutional Shareholder Services Inc has recommended that shareholders vote in favor of the company’s acquisitions of Beadell Resources Ltd.

"The merger makes strategic sense as it will create a new emerging intermediate metals producer and will result in significant pro forma gold and silver production,” ISS said.

READ: Great Panther Silver agrees to accept from merger partner Beadell Resources US$3M in partial loan payment

“The combined company will also have an increased public float and broadened shareholder base, providing stronger liquidity and augmented scale in the capital markets.”

Vancouver-based Great Panther agreed in September to acquire Beadell for US$105 million. After completion of the deal, the company plans to change its name to Great Panther Mining Ltd.

The proxy voting deadline for Great Panther shareholders is 9am Pacific time on February 7. A special meeting of Great Panther shareholders is scheduled for February 11 in Vancouver.

The acquisition of Perth, Western Australia-based Beadell will create a company with mines in Mexico and Brazil, as well as what is described as an advanced-stage development project in Peru.

Combined mining output

Great Panther added that Beadell’s production of 123,000 gold ounces in 2018 will complement its own output of 4.17 million silver equivalent ounces.

Shares of Great Panther fetched C$0.84 in Tuesday’s Canadian trading. They slipped US$0.02 to US$0.65 in New York trading.

Earlier this week, Great Panther said it had agreed to accept from Beadell partial repayment of US$3 million for a loan.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com
 

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Wed, 16 Jan 2019 08:49:00 -0500 https://ca.proactiveinvestors.com/companies/news/212707/great-panther-says-proxy-advisory-firm-iss-recommends-shareholder-support-for-beadell-deal-212707.html
<![CDATA[News - Newmont Mining’s $10 billion shopping spree shows ‘consolidation is necessary’ to deliver value, growth among gold miners ]]> https://ca.proactiveinvestors.com/companies/news/212527/newmont-minings-10-billion-shopping-spree-shows-consolidation-is-necessary-to-deliver-value-growth-among-gold-miners-212527.html Newmont Mining Corp’s (NYSE:NEM) planned acquisition of Canadian rival Goldcorp Inc (TSX:G) for $10 billion shows that consolidation has become necessary and will deliver value and growth to shareholders, said mining company chief executives.

The deal will create the world’s biggest gold producer by output.

“Large gold miners are no longer capable of delivering value and growth organically — ounces in existing mines are becoming harder and more expensive to mine. Hence, to deliver into the value growth expectations of their shareholders, consolidation has become necessary,” DRDGOLD CEO Niel Pretorius told Proactive Investors.

READ: Newmont Mining to create world’s biggest gold producer by output with $10bn deal to buy Goldcorp

Pretorius knows exactly what he is talking about as DRDGOLD Limited (NYSE:DRD) (JSE:DRD), one of the oldest continuously listed miners on the Johannesburg Stock Exchange, recently acquired gold and platinum miner Sibanye-Stillwater’s West Rand Tailings Retreatment Project (WRTRP).

According to analysts, the acquisition transforms DRDGOLD in one stroke giving it a platform from which to grow aggressively into Africa and other commodities. It also cuts overhead unit costs through increased production and puts an end to DRDGOLD’S single asset operating risk.

DRDGOLD wants to bring the high-grade tailings dumps into production by early 2019. The new West Rand crown jewel virtually doubles the miner’s gold reserves, giving it immediate access to facilities that can generate cash for it in a matter of months.

Growth and cleansing process

This is the second high-profile merger in the mining industry since Barrick Gold agreed to buy Randgold Resources in September last year to cut costs.

“This second mega-merger highlights the difficulty for large mining companies to replace ounces. To reverse the forecasted trend of less production back into a grow story they apparently need to acquire other companies to replace and grow ounces and production,” said Gold Resource Corporation (NYSEAMERICAN:GORO) CEO Jason Reid.

Reid also saw it as both a “growth and cleansing process” for the industry.

“It’s interesting in this case as well as the Barrick/Randgold mega-merger that both deals announced divestitures of the survivor company’s consolidated assets," he told Proactive. "Most likely the planned divestitures are the marginal or non-profitable mining operations. It looks to be both a growth and cleansing process for the industry.”

READ: Gold Resource declares December dividend

Mining executives say that falling gold reserves and higher extraction costs have prompted miners to look for cost efficiencies.

“The strategic rationale for combining Goldcorp with Newmont is powerfully compelling on many levels,” said Goldcorp CEO David Garofalo.

The combined company is expected to produce 6 million to 7 million ounces of gold over the next 10 years. In 2017, Newmont produced 5.3 million ounces of gold, while Goldcorp mined 2.6 million ounces.

Their reserves and resources will represent the largest in the gold sector and will spread through mining jurisdictions in the Americas, Australia, and Ghana.

Expect further consolidation

“As the larger companies reset margin and increase production through consolidation, the smaller operators will become increase expensive and uncompetitive. More consolidation across the board is likely to start taking place,” said DRD's Pretorius.

Similarly, Gold Resources' Reid said most likely this trend will continue as a mean to show shareholders “a growth story while simultaneously getting rid of marginal operations.”

"We view the deal as a further positive signal of an inflection point in the mining industry. With increasing precious metal prices and improving investor confidence, we will likely see an acceleration of merger activity. We announced our acquisition of Beadell Resources (BDR: ASX) on Sep 23, the night before Barrick and Rangold, and look forward to closing next month, creating a new growth-oriented intermediate precious metals producer," said Great Panther Silver Ltd (TSX:GPR) (NYSE:GPL) CEO James M Bannantine.

Shareholder meetings to approve Vancouver-based Great Panther’s acquisition of Australia-based Beadell are scheduled for February 11 in Vancouver and February 12 in Perth.

Great Panther agreed in September to acquired Beadell for $105 million. 

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

-- (Updates with comments from Great Panther Silver CEO James M. Bannantine) -- 

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Tue, 15 Jan 2019 14:55:00 -0500 https://ca.proactiveinvestors.com/companies/news/212527/newmont-minings-10-billion-shopping-spree-shows-consolidation-is-necessary-to-deliver-value-growth-among-gold-miners-212527.html
<![CDATA[News - Great Panther Silver agrees to accept from merger partner Beadell Resources US$3M in partial loan payment ]]> https://ca.proactiveinvestors.com/companies/news/212524/great-panther-silver-agrees-to-accept-from-merger-partner-beadell-resources-us3m-in-partial-loan-payment-212524.html Great Panther Silver Ltd (NYSEAMERICAN:GPL) (TSE:GPR) said Monday that it has agreed to accept from its merger partner Beadell Resources Ltd. partial repayment of US$3 million for a loan.

Vancouver-based Great Panther said in a press release that Perth, Australia-based Beadell has received US$10.3 million in tax refunds from Brazil’s Social Integration Program (PIS) and Contribution for Social Security Financing  (COFINS). The terms of the US$5 million loan provide for prepayment from any such tax refunds.

READ: Great Panther Silver reports 15% quarterly increase in production at Topia mine in Mexico

Great Panther added that it has agreed to extend the maturity date of the remaining US$2 million to March 18 to provide Beadell with additional funds for general working capital and operating requirements.

"The receipt of the PIS and COFINS tax refunds is good news and provides welcome cash for Beadell in the short term,” James Bannantine, president and CEO of Great Panther, said in a statement. “The extension of part of our loan will provide Beadell with additional working capital to help manage its operations to the closing of our acquisition."

Shareholder meetings to approve Great Panther’s acquisition of Beadell are scheduled for February 11 in Vancouver and February 12 in Perth.

Great Panther agreed in September to acquired Beadell for US$105 million.

Last week, Great Panther said its Topia mine in Durango, Mexico, increased metal production in the fourth quarter by 15% from a year earlier to 390,701 silver equivalent ounces.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Mon, 14 Jan 2019 10:23:00 -0500 https://ca.proactiveinvestors.com/companies/news/212524/great-panther-silver-agrees-to-accept-from-merger-partner-beadell-resources-us3m-in-partial-loan-payment-212524.html
<![CDATA[News - Great Panther Silver reports 15% quarterly increase in production at Topia mine in Mexico ]]> https://ca.proactiveinvestors.com/companies/news/212166/great-panther-silver-reports-15-quarterly-increase-in-production-at-topia-mine-in-mexico-212166.html Great Panther Silver Ltd (TSE:GPR ) (NYSEAMERICAN:GPL) said Tuesday that its Topia mine in Durango, Mexico, increased metal production in the fourth quarter by 15% from a year earlier to 390,701 silver equivalent ounces.

The Vancouver-based company said in a press release that the boost reflects measures to increase productivity. The mine raised its share of consolidated metal production to 41% in the fourth quarter from 32% a year earlier, according to Great Panther.

READ: Great Panther Silver shareholders to vote on Beadell Resources acquisition

As previously announced, the company moved in the third quarter to reduce mining of higher-cost areas at the Guanajuato mine in Mexico and increase the proportion of ore from the lower-cost San Ignacio mine.

"We achieved the higher end of our guidance for the year, while also advancing our previously announced realignment of Mexican operations to reduce mining from higher-cost areas,” CEO James Bannantine said in a statement. "This strategy was taken in response to lower metal prices.”

While these steps reduced overall unit costs, they also lowered fourth-quarter throughput, according to Great Panther. In addition, the operations experienced lower grades related to variable mineralization, the company said.

Shares of Great Panther fetched C$0.92 in Monday’s Canadian trading and US$0.70 on the OTC Markets.

The company has scheduled a February 11 special meeting of shareholders to vote on the acquisition of Perth, Australia-based Beadell Resources Ltd and a name change to Great Panther Mining Ltd

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Tue, 08 Jan 2019 09:26:00 -0500 https://ca.proactiveinvestors.com/companies/news/212166/great-panther-silver-reports-15-quarterly-increase-in-production-at-topia-mine-in-mexico-212166.html
<![CDATA[News - Great Panther Silver shareholders to vote on Beadell Resources acquisition ]]> https://ca.proactiveinvestors.com/companies/news/211689/great-panther-silver-shareholders-to-vote-on-beadell-resources-acquisition-211689.html Great Panther Silver Ltd (CSE:GPR) (NYSEAMERICAN:GPL) said Friday that its shareholders will vote on the company’s acquisition of Beadell Resources Ltd.

Vancouver-based Great Panther said in a press release that a special meeting of its shareholders is scheduled for February 11. The filing and mailing of the management information circular will be in early January.

READ: Great Panther Silver extends short-term loan to Beadell Resources' subsidiary

Perth, Australia-based Beadell announced Friday that the Supreme Court of Western Australia has cleared the way for that company’s shareholder vote, which is scheduled for February 12.

The deal is expected to close shortly after the approval of shareholders.

Shares of Great Panther climbed C$0.02 to C$0.78 in Friday’s Canadian trading. They advanced US$0.01 to US$0.57 in New York.

Earlier this month, Great Panther said it extended a short-term loan of US$5 million to Beadell’s Brazilian subsidiary. The facility, which carries a 14% annual interest charge, is in place until January 15, though there is an option to extend it for 30 days.


Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Fri, 21 Dec 2018 12:10:00 -0500 https://ca.proactiveinvestors.com/companies/news/211689/great-panther-silver-shareholders-to-vote-on-beadell-resources-acquisition-211689.html
<![CDATA[News - Great Panther Silver extends short-term loan to Beadell Resources' subsidiary ]]> https://ca.proactiveinvestors.com/companies/news/210701/great-panther-silver-extends-short-term-loan-to-beadell-resources-subsidiary-210701.html Great Panther Silver Ltd (TSE:GPR) (NYSE:GPL) said it is extending a short-term loan to the Brazilian subsidiary of a company it is buying.

It is advancing US$5 million to the Beadell Resources unit, which will be used to meet working capital requirements.

READ: Great Panther Silver says it's making good progress on $105M Beadell acquisition

The facility, which carries a 14% annual interest charge, is in place until January 15, though there is the option to extend it for a further 30 days.

The loan will be repaid from the proceeds of two Brazilian tax refunds.

Last week, Great Panther said it is progressing well towards completing the previously-announced $105 million acquisition of Beadell Resources to create a new precious metals producer focused on the Americas.

Beadell is currently the operator of the 100%-owned Tucano gold mine in Amapa State in northern Brazil.

“The acquisition will create a new emerging and growth-oriented precious metals producer focused on the Americas with strong geographic diversity across three leading mining jurisdictions, and a diverse asset portfolio including three producing mines, an advanced stage project, and significant exploration potential,” Great Panther said in its latest release.

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Thu, 06 Dec 2018 09:23:00 -0500 https://ca.proactiveinvestors.com/companies/news/210701/great-panther-silver-extends-short-term-loan-to-beadell-resources-subsidiary-210701.html
<![CDATA[News - Great Panther Silver says it's making good progress on $105M Beadell acquisition ]]> https://ca.proactiveinvestors.com/companies/news/210326/great-panther-silver-says-it-s-making-good-progress-on-105m-beadell-acquisition-210326.html Great Panther Silver Ltd (TSX:GPR) (NYSE:GPL) says it's progressing well towards completing the previously announced acquisition of Beadell Resources to create a  new precious metals producer focused on the Americas.

Beadell is currently the operator of the 100% owned Tucano gold mine in Amapa State, northern Brazil, and closing the deal hangs on certain arrangements relating to its outstanding US$10 million convertible debentures.

"We are advancing through the regulatory process in Australia and progressing well towards the completion of our acquisition of Beadell and expect respective meetings seeking shareholder approvals to take place early in 2019", said James Bannantine, Great Panther's president and CEO.

READ: Great Panther Silver poised to create new precious metals producer focused on the Americas with $105M Beadell buy

"This latest announcement is an important next step, as we are confirming our intention to offer to purchase the convertible debentures immediately after closing and amend the existing terms as required in the event of an acquisition," he added.

Bannantine noted that if the current debenture holders choose to continue to hold them, they will benefit from an improved credit profile.

"Otherwise, Great Panther has the balance sheet to purchase the convertible debentures and is also considering options to refinance," he said in a regulatory statement.

The $105 million deal to buy Beadell Resources creates a new entity focused on the Americas, and benefitting from a strong balance sheet and a diverse asset portfolio including three producing mines.

There would also be an advanced stage project, and significant exploration potential and "attractive" re-rating potential, Great Panther has previously said.

The combined company is expected to have proven and probable reserves of around 1.5 million ounces of gold and will result in a significant lift in pro forma gold and silver production.

Great Panther will contribute 4 million silver-equivalent ounces of production in 2018, and Beadell will add 130,000 gold ounces in 2018 and a further 163,000 ounces in 2019, with potential for further increase upon a positive decision to restart Coricancha in Peru.

Shares in Toronto added 2.53% to stand at $0.81.

Contact Giles Gwinnett at giles@proactiveinvestors.com

Follow Giles on Twitter @Gile74

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Fri, 30 Nov 2018 10:06:00 -0500 https://ca.proactiveinvestors.com/companies/news/210326/great-panther-silver-says-it-s-making-good-progress-on-105m-beadell-acquisition-210326.html
<![CDATA[News - Great Panther Silver says loan to acquisition target Beadell Resources modified ]]> https://ca.proactiveinvestors.com/companies/news/209604/great-panther-silver-says-loan-to-acquisition-target-beadell-resources-modified-209604.html Precious-metals miner Great Panther Silver Ltd (TSE:GPR, NYSEAMERICAN:GPL) said that an A$54.7 million loan to Beadell Resources Ltd has been modified to clear the way for a merger of the two companies.

Vancouver-based Great Panther said in September that it would buy Beadell for about A$144 million in a stock deal subject to terms including the modification of the loan from MACA Ltd., a mining company in Welshpool, Australia. Beadell, based in West Perth, Australia, which owns and operates the Tucano gold mine in northern Brazil.

READ: Beadell Resources Ltd to merge with Canadian silver miner Great Panther

Under the original terms of the loan agreement, the loan became payable upon Beadell’s change of corporate control without MACA’s consent, Great Panther said Monday in a press release. Under the new agreement, the Australian miner agreed to the change of control and kept the loan in place until June 2022.

The loan’s principal payment in 2019 was increased to A$16.5 million from A$12 million, according to Great Panther.

"We are pleased that we have reached an agreement with MACA, who has been very supportive of this process," Great Panther CEO James Bannantine said in a statement.

Shares of Great Panther slipped C$0.01 to C$0.79 in Canadian trading Tuesday. There were down by US$0.01 to US$0.59 in New York.



Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Tue, 20 Nov 2018 10:11:00 -0500 https://ca.proactiveinvestors.com/companies/news/209604/great-panther-silver-says-loan-to-acquisition-target-beadell-resources-modified-209604.html
<![CDATA[News - Great Panther Silver updates on Beadell acquisition; files NI 43 -101 report ]]> https://ca.proactiveinvestors.com/companies/news/208755/great-panther-silver-updates-on-beadell-acquisition-files-ni-43-101-report-208755.html Great Panther Silver Ltd (TSX:GPR, NYSE:GPL) updated on its proposed acquisition of Beadell Resources Ltd, saying it had filed an NI 43 101 resource and reserve upgrade for the latter's Tucano gold mine in Brazil.

The technical report includes recommendations on upgrading the existing mineral resources, locating near-mine mineralization and advancing the underground mine study.

The firm noted there were corrections to Beadell's previously disclosed reserves and resources.

It said proven and probable mineral reserves for the Urucum underground mine reported in September incorrectly stated the tonnage and grade, resulting in an overstatement of approximately 67,000 ounces of contained gold.

The Tucano gold mine is currently an open-pit operation and does not include the proven and probable mineral reserves for Urucum underground in its current mine plan.

Great Panther also said the previously reported inferred mineral resources associated with Tartaruga (6,451,000 tonnes of 1.63 grams per tonne gold for 337,000 ounces contained gold) are historical in nature, have not been prepared in accordance with NI 43-101 and are not being relied upon by the company.

Beadell has advised the firm that the reserves and resources for Tucano will be updated in the future and are likely to change during that process.

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Wed, 07 Nov 2018 10:34:00 -0500 https://ca.proactiveinvestors.com/companies/news/208755/great-panther-silver-updates-on-beadell-acquisition-files-ni-43-101-report-208755.html
<![CDATA[News - Great Panther Silver building foundation for growth next year ]]> https://ca.proactiveinvestors.com/companies/news/208355/great-panther-silver-building-foundation-for-growth-next-year-208355.html Precious metals miner Great Panther Silver Ltd (TSX:GPR: NYSE:GPL) is setting a strong foundation for growth in Latin America next year, despite posting a  loss in the latest quarter.

The firm operates the Guanajuato mine complex and the Topia mine in  Mexico and is advancing its Coricancha Mine in Peru.

It also recently announced a $105 million deal to buy Beadell Resources, which owns the Tucano gold mine in Brazil, to create a  new precious metals producer.

"Despite the current metal price environment, we are using our strong balance sheet to set a foundation for growth in 2019 by advancing our Coricancha project and advancing the close of the recently announced friendly acquisition of Beadell Resources Limited," said Jim Bannantine, president and CEO of Great Panther.

He added: "Our revenues for the third quarter of 2018 were down compared to the same quarter last year due primarily to lower metal prices, lower production levels, and a large shipment of concentrate which could not be shipped until just after the end of quarter cut-off."

"These factors combined with higher cash costs at our Guanajuato Mine Complex in Mexico, higher corporate development costs, and the ramp-up of Coricancha project costs, which we are expensing as opposed to capitalizing, accounted for a loss per share of $0.02 in the third quarter."

Revenue for the three months to end September was $11.7 million versus $18.2 million in the same period of 2017. The net loss was around $3.6mln versus a loss of $666,000 last year.

Production costs decreased $1.1 million or 9% compared to the third quarter of 2017, mainly due to a decrease in metal sales volume and a weakening of the Mexican Peso versus the US dollar.

As at September 30, Great Panther had cash and short-term deposits of $57.9 million, compared to $56.9 million at the end of December last year and no long-term debt.

Looking ahead for the rest of 2018, the company said the focus was on its Mexican operations and on achieving production efficiencies at Guanajuato and San Ignacio.

"The company will continue advancing the Coricancha mine complex in Peru to set a platform for production growth in 2019 and 2020," said the miner.

Bulk sampling at Coricancha continues to advance on schedule following the announcement in May 2018 of the positive PEA which confirmed the potential for three million silver equivalent ounces of annual production.

The company expects to be able to make a decision in early 2019 on whether to commence the restart of Coricancha, it added.

Great Panther shares stand at $0.85 in Toronto.

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Thu, 01 Nov 2018 14:13:00 -0400 https://ca.proactiveinvestors.com/companies/news/208355/great-panther-silver-building-foundation-for-growth-next-year-208355.html
<![CDATA[Media files - Great Panther Silver looks at Beadell acquisition as transformational move ]]> https://ca.proactiveinvestors.com/companies/stocktube/11030/great-panther-silver-looks-at-beadell-acquisition-as-transformational-move-11030.html Mon, 29 Oct 2018 14:47:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/11030/great-panther-silver-looks-at-beadell-acquisition-as-transformational-move-11030.html <![CDATA[News - Great Panther Silver on track to meet 2018 production guidance, despite reduced Q3 output ]]> https://ca.proactiveinvestors.com/companies/news/207003/great-panther-silver-on-track-to-meet-2018-production-guidance-despite-reduced-q3-output-207003.html Precious metals miner Great Panther Silver Ltd (TSX:GPR: NYSE:GPL) told investors it remained on track to meet its production guidance for 2018 despite a decline in silver and gold output.

The Mexico-focused group issued its production results for three and nine months from its Guanajuato mine complex and the Topia mine.

For 2018, the miner has pencilled in 4 to 4.1mln silver equivalent ounces of output at an all-in sustaining cost (ASIC) of $12.50 to $14.50.

READ THE BIG PICTURE: Great Panther Silver's new phase of potential expansion taking shape after Coricancha PEA

"We remain on track to meet our production guidance for 2018 with good year-to-date production performance, despite a decline in silver and gold production for Q3 compared to Q3 of last year", said James Bannantine, president and CEO at Great Panther.

"Given the sustained low metal price environment, we adjusted our mine plan in the third quarter to exercise the flexibility between our mines and plant to reduce mining of higher cost stopes at the Guanajuato Mine.

"This was a factor accounting for the relative decline in silver and gold production in the third quarter, along with lower grades and recoveries at the GMC and a particularly strong quarter of production for Q3 of 2017.

"We also initiated other cost reduction measures at our Mexican operations to address the low metal prices.

"Our focus over the coming months will be on completing the acquisition of Beadell Resources Limited, as well as continuing to progress the Bulk Sample Program at our Coricancha Mine in Peru and advance to a production decision in early 2019."

In the third quarter to end September, silver production dropped 16% to 448,840 ounces, gold production fell 19% to 4,737 ounces.

But lead and zinc output added 29% and 14% respectively.

The cash costs of the third quarter will be higher than full-year guidance, the miner said,  reflecting factors such as the impact of lower grades and narrower mining widths and restructuring costs.

READ: Great Panther Silver poised to create new precious metals producer focused on the Americas with $105M Beadell buy

Last month, Great Panther announced a $105 million deal to acquire all the shares of Beadell, which owns the Tucano gold mine in Brazil.

With Great Panther's strong balance sheet of around US$60 million in cash and no debt, the combined company will be fully funded to execute on the Coricancha growth opportunity, growth plans for the Tucano mine, and longer-term exploration opportunities, and Beadell's debt service, it said.

Great Panther shares in Toronto are down around 5% to $1.11.

Giles Gwinnett is at giles@proactiveinvestors.com

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Fri, 12 Oct 2018 10:49:00 -0400 https://ca.proactiveinvestors.com/companies/news/207003/great-panther-silver-on-track-to-meet-2018-production-guidance-despite-reduced-q3-output-207003.html
<![CDATA[News - Great Panther Silver poised to create new precious metals producer focused on the Americas with $105M Beadell buy ]]> https://ca.proactiveinvestors.com/companies/news/205549/great-panther-silver-poised-to-create-new-precious-metals-producer-focused-on-the-americas-with-105m-beadell-buy-205549.html Great Panther Silver Ltd (TSX:GPR: NYSE:GPL) announced Monday a $105 million deal to buy Beadell Resources Ltd to create a  new precious metals producer focused on the Americas.

The new group would benefit from a strong balance sheet and a diverse asset portfolio including three producing mines, said Great Panther.

Exploration potential too

There would also be an advanced stage project, and significant exploration potential and "attractive" re-rating potential.

Beadell is currently the operator of the 100% owned Tucano gold mine in Amapa State, northern Brazil - part of a 2,500 square kilometre (sq km) land package in the under-explored 'Birimian age' greenstone region.

Beadell has a life of mine contract with U&M Mineracao e Construcao S/A, which is expected to deliver improved efficiencies resulting in an expected $100 million in costs savings over the life of mine.

In addition, Beadell remains on track for completion of the Tucano plant upgrade by early November, this year.

The combined company is expected to have proven and probable reserves of around 1.5mln ounces of gold and will result in a significant lift in pro forma gold and silver production.

Great Panther will contribute 4 million silver-equivalent ounces of production in 2018, and Beadell will add 130,000 gold ounces in 2018 and a further 163,000 ounces in 2019, with potential for further increase upon a positive decision to restart Coricancha in Peru.

A 'transformational' transaction

"This is a transformational transaction for the shareholders of Great Panther and Beadell," said James Bannantine, president and chief executive at Great Panther.

"Great Panther has grown and optimized its operations in Mexico, acquired and advanced its Coricancha project in Peru, and is now positioned to add a sizeable producing mine in Brazil with exceptional exploration potential.

"Great Panther brings the capital to deliver on Tucano's substantial near- and long-term resource growth potential and to continue mine optimization initiatives.

"The combination of assets, capital and management provides a unique opportunity to unlock a significant re-rating potential for the benefit of both existing shareholders and Beadell's shareholders who will gain a meaningful interest in Great Panther."

Dr Nicole Adshead-Bell, CEO and Managing Director of Beadell, added that Beadell shareholders would benefit from "Great Panther's strong balance sheet, steady cash flow, experienced management team and improved market liquidity via Great Panther's TSX and NYSE American listings".

"The combined company will pool resources to expedite the execution of Tucano's ongoing operational turnaround," she said.

Under the terms of the scheme, Beadell shareholders will receive 0.0619 common shares of Great Panther for each of their shares, resulting in the issuance of around 103.6 million Great Panther shares.

The exchange ratio implies consideration of A$0.086 3 per Beadell share with the implied equity value for Beadell around A$144 million, or $105 million, based on the closing price of a Great Panther Share on the NYSE American on September 21, 2018.

The consideration to be received by Beadell shareholders represents a 51% premium over Beadell's closing share price on the ASX on September 21, 2018.

The  plant at Tucano is being upgraded to process around 3.5mln tonnes per year of oxide-sulphide ore feed in for a range of blends.

There is a pipeline of high potential in-mine and near-mine prospects, anchored by several high-grade gold drill intervals over several metres, which represent a near-term opportunity to improve the head grade and prolong the mine life.

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Mon, 24 Sep 2018 08:55:00 -0400 https://ca.proactiveinvestors.com/companies/news/205549/great-panther-silver-poised-to-create-new-precious-metals-producer-focused-on-the-americas-with-105m-beadell-buy-205549.html
<![CDATA[News - Great Panther Silver's new phase of potential expansion taking shape after Coricancha PEA ]]> https://ca.proactiveinvestors.com/companies/news/204667/great-panther-silver-s-new-phase-of-potential-expansion-taking-shape-after-coricancha-pea-204667.html The next six months or so could be pivotal in the evolution of precious metals miner Great Panther Silver Ltd (TSX:GPR: NYSE:GPL).

Its Guanajuato and Topia mines in Mexico both have long-established track records of stable production but soon adding to the mix could be its Chilean mine - Coricancha - if the firm decides to press go.

That could lift the group's overall production by the order of 75%,  relatively new chief executive James Bannantine recently highlighted to Proactive.

He joined the company around a year ago now, taking on the mantle from seasoned mining veteran Bob Archer.

The potential returns at Coricancha are significant. Great Panther picked the project up from Nyrstar for US$100,000, securing as part of the transaction a closure bond from Nyrstar to cover any potential environmental costs if the project doesn’t go ahead.

"We’re optimistic on the potential of this mine,” says Bannantine in  February this year.

"The key is to generate enough ore feed to the plant. Our plan is to expand the number of working faces on the mine."

Decent looking PEA

A preliminary economic assessment (PEA) for Coricancha in May this year demonstrated robust numbers and low capital costs.

Significantly, the mine is estimated to generate an after-tax net present value (NPV) of US$16.6mln and an impressive after-tax internal rate of return (IRR) of 81%.

Margins were also shown to be decent, factoring in all-in sustaining costs of US$2.20 per payable silver ounce, or US$547 per payable gold ounce, over the life of the mine - 3.75 years.

WATCH: Great Panther Silver CEO says Coricancha PEA results indicate it’s a 'robust' economic project

Bannantine said he was "very excited" about the PEA, which was an important milestone for Great Panther. He also noted that the deposit was open at depth and strike.

READ THE BIG PIC:  Great Panther Silver embarking on new phase of expansion and growth, supported by solid suite of Mexican assets

It is worth noting that Great Panther has already identified several opportunities to further enhance the economics of the project and increase the life of mine.

What's happening now in Peru?

A bulk sampling program is underway at the former mine, which will process around 6,000 tonnes of material at the current plant and is expected to be completed in the first quarter of 2019.

The aim is to validate the key mine and process plant operating parameters used in the preliminary economic assessment (PEA) and then, in early 2019,  whether to re-start the project or not.

Development so far has reached mineralization at the Constantia vein, which has shown a 2.05-metre vein width grading 151g/t (grams per ton) silver, 6.04 g/t gold, 2.94% lead, 1.06% zinc, and 0.12% copper.

Where else does Great Panther mine?

Aside from Coricancha activity, in Mexico, the firm operates the wholly-owned Guanajuato mine complex and the Topia mine.

The company says it also continues to pursue the acquisition of additional mining operations or projects in the Americas.

The share price in Toronto is now at C$1.08 - down 0.92%.

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Tue, 11 Sep 2018 10:53:00 -0400 https://ca.proactiveinvestors.com/companies/news/204667/great-panther-silver-s-new-phase-of-potential-expansion-taking-shape-after-coricancha-pea-204667.html
<![CDATA[News - Great Panther Silver eyeing first quarter of 2019 for completion of Coricancha bulk sample programme ]]> https://ca.proactiveinvestors.com/companies/news/204267/great-panther-silver-eyeing-first-quarter-of-2019-for-completion-of-coricancha-bulk-sample-programme-204267.html Precious metals miner Great Panther Silver Ltd (TSX:GPR: NYSE:GPL) updated on its Coricancha gold-silver-lead-zinc-copper in Peru, where it is carrying out a bulk sample programme (BSP).

The work will process around 6,000 tonnes of material and is expected to be completed in the first quarter of 2019. The aim is to validate the key mine and process plant operating parameters used in the preliminary economic assessment (PEA), which was announced in May this year. Following the completion of the work,  Great Panther expects to make a decision in early 2019 on whether to begin or not to re-start the project.

READ: Great Panther Silver pushing ahead with bulk sample programme at Peru project; posts second-quarter results

The trial mining stope has, so far, reached 160 metres of access, the firm said. The development has reached mineralisation at the Constancia vein, which has shown a 2.05-metre vein width grading 151g/t (grams per ton) silver, 6.04 g/t gold, 2.94% lead, 1.06% zinc, and 0.12% copper. Other advances are the successful test of the crusher, and that the refurbishment of the concentrator is well advanced. In May, the PEA announced showed robust numbers and low capital costs, the firm said.

It assumed using standard cut-and-fill and resue mining techniques providing ore to support a target annual throughput rate of 550 tonnes per day (tpd) to the mill.

Using base case metal prices, including gold at US$1,300 per ounce and silver at US$16.50 an ounce, Great Panther said the mine was estimated to generate an after-tax net present value (NPV) of US$16.6mln and an after-tax internal rate of return (IRR) of 81%.

Operating costs were pegged at US$55.71 per tonne mining, US$68.83 per tonne processing, and US$23.52 per tonne for general and administration, for a total cost of US$148.06 per tonne.

Cash costs were estimated to be US$14.06 per payable silver ounce or US$70 per payable gold ounce over the life of the mine.

All-in sustaining costs (AISC) were estimated by the report to be US$2.20 per payable silver ounce, or US$547 per payable gold ounce, over the life of the mine.

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Wed, 05 Sep 2018 12:20:00 -0400 https://ca.proactiveinvestors.com/companies/news/204267/great-panther-silver-eyeing-first-quarter-of-2019-for-completion-of-coricancha-bulk-sample-programme-204267.html
<![CDATA[News - Great Panther Silver pushing ahead with bulk sample programme at Peru project; posts second-quatrer results ]]> https://ca.proactiveinvestors.com/companies/news/202120/great-panther-silver-pushing-ahead-with-bulk-sample-programme-at-peru-project-posts-second-quatrer-results-202120.html Precious metals miner Great Panther Silver Ltd (TSX:GPR; NYSE:GPL) is making good progress on its bulk sample program (BSP) at the Coricancha gold-silver-lead-zinc-copper project in Peru.

The BSP will process around 6,000 tonnes of material and is expected to be finished in the first quarter of 2019, the firm said Thursday.

The project was started after the release of a preliminary economic assessment (PEA) for the Peru project, which put a  net present value on it at US$16.6mln.

Access decline advanced..

Since then, the access decline has been advanced 75 metres, which is ahead of schedule, said Great Panther.

Work has also begun on the upgrade and rehabilitation of surface roads and underground mine infrastructure.

Mechanical, electrical and instrumentation testing has also begun on the crushing, grinding, and flotation circuits.

Also today, the miner posted its second quarter and half year results, which showed the second three months had been impacted by  Coricancha related project and care and maintenance and higher costs at the Guanajuato mine complex due to narrower vein widths than expected.

"Despite this, we are maintaining our cost guidance for the year, as we expect the trend in Q2 to reverse in the remainder of the year based on our recent drill results and development to date to access these drilled targets," said Jim Bannantine, president and chief executive.

Strong balance sheet..

"We continue to maintain a strong balance sheet with approximately $60-million of cash and short-term investments, and no debt, which is more than sufficient to fund the development of Coricancha.

"Further, we expect our Mexican operations will continue to provide cash flow to fund the company's ongoing requirements."

Revenue for the six months to June 30 came in at US$34mln versus US$28.1mln last year. The net loss was US$2.8MLn versus a profit of US$3.8mln in 2017.

The production guidance for 2018 remains unchanged at between 4mln and 4.1mln silver equivalent ounces at all in sustaining costs (ASIC) of US$12.50 and US$14.50.

Shares in Great Panther in Toronto dropped 2.03% to C$1.45 each.

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Thu, 02 Aug 2018 09:27:00 -0400 https://ca.proactiveinvestors.com/companies/news/202120/great-panther-silver-pushing-ahead-with-bulk-sample-programme-at-peru-project-posts-second-quatrer-results-202120.html
<![CDATA[News - Great Panther Silver repeats 2018 guidance as it unveils second quarter production stats ]]> https://ca.proactiveinvestors.com/companies/news/200509/great-panther-silver-repeats-2018-guidance-as-it-unveils-second-quarter-production-stats-200509.html Precious metals producer Great Panther Silver Ltd (TSX:GPR; NYSE:GPL) has maintained its production and cost guidance for full year 2018 as it posted second quarter numbers for its Mexico mines.

Tonnes milled in the three months were lower than the previous quarter and the same period of 2017 due to heavy rainfall, and a higher proportion of harder ores from the San Ignacio mine, which reduced processing capacity.

READ: Great Panther Silver holds annual general meeting; re-elects directors

At its Guanajuato complex, the San Ignacio mine accounted for 70% of the total ore processed at the project in the period, against 55% in  the same quarter of 2017. Consolidated metal production across both the firm's producing mines (GMC and Topia mine) decreased 9% to around 1.002mln silver equivalent ounces.At GMC, production was 643,432 silver equivalent ounces -  an 8% decrease compared to the previous quarter,

At Topia, total production was 358,737 silver equivalent ounces, an increase of 7% over the previous quarter. The rise was attributed to higher silver grades due to the increased proportion of production from higher silver grade zones and improved metallurgical recoveries.

"While production during the second quarter was somewhat lower than planned due to heavier than usual rainfall at our Guanajuato Mine Complex, we continue to expect to meet our production guidance for 2018", James Bannantine, Great Panther's president and chief executive, told investors.

"In addition, we are very pleased with the positive results of our recently announced preliminary economic assessment for the Coricancha mine in Peru.

"We have now begun preparations for the bulk sample program and look forward to providing further updates as we continue to advance the project."

Great Panther noted that it was repeating its 2018 production, cash cost and AISC (all in sustaining costs) guidance but cautioned that cash cost and AISC were very sensitive to the Mexican peso foreign exchange rate and metal prices.

The miner puts total silver equivalent production for the year at between 4mln and 4.1mln ounces, with cash costs of US$5 to US$6.50. ASIC is put at US$12.50 to US$14.50.

Shares eased 0.67% to C$1.48 each in Toronto.

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Tue, 10 Jul 2018 12:22:00 -0400 https://ca.proactiveinvestors.com/companies/news/200509/great-panther-silver-repeats-2018-guidance-as-it-unveils-second-quarter-production-stats-200509.html
<![CDATA[News - Great Panther Silver holds annual general meeting; re-elects directors ]]> https://ca.proactiveinvestors.com/companies/news/198567/great-panther-silver-holds-annual-general-meeting-re-elects-directors-198567.html Great Panther Silver Ltd. (TSX:GPR; NYSE:GPL) today announced results from its annual general meeting, held 7 June 2018. 

A total of 93,649,355 votes were cast, representing 55.5% of the issued and outstanding common shares as of the record date for the meeting.

All of the director nominees were elected by shareholders present or represented by proxy. 

WATCH: Great Panther Silver CEO says Coricancha PEA results indicate its a 'robust' economic project

Directors elected include: R.W. (Bob) Garnett, Robert A. Archer, John Jennings, W.J. (James) Mullin, Elise Rees, James M. Bannantine and Jeffrey R. Mason. 

Shareholders voted 98.4% in favour of setting the number of directors at seven and 97.4% in favour of appointing KPMG LLP as auditor. 

The company recently announced results of a preliminary economic assessment (PEA) done for its Peru project, which showed robust numbers and low capital costs. Coricancha is a gold-silver-lead-zinc-copper underground mine and mill complex. 

Great Panther Silver shares closed at C$1.57 on Friday. 

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Fri, 08 Jun 2018 19:38:00 -0400 https://ca.proactiveinvestors.com/companies/news/198567/great-panther-silver-holds-annual-general-meeting-re-elects-directors-198567.html
<![CDATA[Media files - Great Panther Silver CEO says Coricancha PEA results indicate its a 'robust' economic project ]]> https://ca.proactiveinvestors.com/companies/stocktube/9425/great-panther-silver-ceo-says-coricancha-pea-results-indicate-its-a-robust-economic-project-9425.html Fri, 01 Jun 2018 13:39:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/9425/great-panther-silver-ceo-says-coricancha-pea-results-indicate-its-a-robust-economic-project-9425.html <![CDATA[News - Great Panther Silver hails PEA for Peru project, which puts net present value at US$16.6mln ]]> https://ca.proactiveinvestors.com/companies/news/198024/great-panther-silver-hails-pea-for-peru-project-which-puts-net-present-value-at-us166mln-198024.html Precious metals producer Great Panther Silver Ltd (TSX:GPR; NYSE:GPL) has hailed the results of a  preliminary economic assessment (PEA) for its Peru project, which showed robust numbers and low capital costs.

Coricancha is a gold-silver-lead-zinc-copper underground mine and mill complex, 90 km east of the capital Lima.

READ: Great Panther Silver set to unveil preliminary economic assessment for Peru project

The document assumes using standard cut-and-fill and resue mining techniques providing ore to support a target annual throughput rate of 550 tonnes per day (tpd) to the mill.

Using base case metal prices, including gold at US$1,300 per ounce and silver at US$16.50 an ounce, Great Panther said the mine was estimated to generate an after-tax net present value (NPV) of US$16.6mln and an after-tax internal rate of return (IRR) of 81%.

Operating costs were pegged at US$55.71 per tonne mining, US$68.83 per tonne processing, and US$23.52 per tonne for general and administration, for a total cost of US$148.06 per tonne.

Cash costs were estimated to be US$14.06 per payable silver ounce, or US$70 per payable gold ounce over the life of the mine.

All-in sustaining costs were estimated by the report to be US$2.20 per payable silver ounce, or US$547 per payable gold ounce, over the life of the mine.

The mine plan envisages 608,053 tonnes being processed over a life of mine (LOM) of 3.75 years, with 193,500 tonnes of annual average throughput.

"We are very pleased with the results of the Coricancha PEA as it confirms the potential for average annual production of three million silver-equivalent ounces and estimates an after-tax internal rate of return in excess of 80%, with low capital costs", said James Bannantine, the president and chief executive at Great Panther.

"We look forward to advancing Coricancha by building on the PEA and gaining a better understanding of the potential of the project as we begin preparations for full-scale mining and milling."

Start of trial stope and bulk sample program

With the report now completed, Great Panther will advance the project, it said, with the start of a trial stope and bulk sample program early in the third quarter this year.

The aim of this bulk sample is to provide confirmation of expectations regarding throughput, grades, and recoveries.

The company said it will leverage its expertise in developing and operating underground, narrow vein mines in Mexico to advance the project.

Existing infrastructure in place includes a crushing and grinding plant, flotation and bio-oxidation plant, electrical and water supply, plus existing mine access development.

It is worth noting that Great Panther has identified several opportunities to further enhance the economics of the project and increase the life of mine.

Great Panther shares were unchanged at C$1.61 each.

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Thu, 31 May 2018 09:34:00 -0400 https://ca.proactiveinvestors.com/companies/news/198024/great-panther-silver-hails-pea-for-peru-project-which-puts-net-present-value-at-us166mln-198024.html
<![CDATA[News - Great Panther Silver set to unveil preliminary economic assessment for Peru project ]]> https://ca.proactiveinvestors.com/companies/news/197937/great-panther-silver-set-to-unveil-preliminary-economic-assessment-for-peru-project-197937.html Precious metals producer Great Panther Silver Ltd (TSX:GPR; NYSE:GPL) is set to release the results of the preliminary economic assessment (PEA) for its 100% owned Coricancha gold-silver-lead-zinc-copper underground mine and mill complex in Peru on May 31 before the market opens.

Earlier this month, Great Panther posted a 38% year-on-year rise in its three months to end-March period, thanks to the normal operation of the Topia processing plant and an increase in gold prices.

READ: Great Panther Silver reports 38% hike in first quarter revenue as focus continues on Coricancha project

In the first quarter, revenue rose to US$4.6mln, while at period end, the firm had cash and short-term deposits of US$60.9mln, compared with US$56.9mln end December 2017.

Jim Bannantine, president and chief executive, had said: “Our balance sheet remains strong and our cash position increased to just over $60-million as we continue to fund Coricancha from the cash flows from our operations in Mexico.

The company said based on historic production records, Coricancha in the central Andes of Peru, has the potential to add 3 mln AgEq (silver equivalent) ounces of annual production.

Great Panther Silver said depending on the outcome of the evaluations on Coricancha, “investments in connection with a restart of the mine could commence in 2018”.

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Wed, 30 May 2018 09:27:00 -0400 https://ca.proactiveinvestors.com/companies/news/197937/great-panther-silver-set-to-unveil-preliminary-economic-assessment-for-peru-project-197937.html
<![CDATA[News - Great Panther Silver's Chief Operating Officer Soltani to step down from current role ]]> https://ca.proactiveinvestors.com/companies/news/196478/great-panther-silver-s-chief-operating-officer-soltani-to-step-down-from-current-role-196478.html Great Panther Silver Limited (TSX:GPR, NYSE:GPL) said Ali Soltani will be stepping down from his role as chief operating officer of the Vancouver-based silver mining company effective 31 May 2018.

Great Panther said Soltani will continue to provide services on a part-time basis until 30 September 2018 as senior technical adviser to Great Panther's management team.

"On behalf of the board and all the employees of Great Panther, I want to sincerely thank Ali for his dedicated service to the company as COO and wish him the best in his next chapter," Jim Bannantine, Great Panther president and CEO, said. "Ali joined us in 2014, and we have benefited greatly from his leadership, expertise and extensive experience in the mining industry."

Soltani said there is "never a perfect time to leave an organization like Great Panther. However, I believe the team the company has in place to execute on current operations, develop projects and grow the business is strong, so I can start to transition now with the comfort that the company has a promising future."

Most recently, Soltani served as the lead executive for Great Panther's Coricancha Project in Peru. Great Panther said it remains on track to deliver an updated technical study on Coricancha before the end of the second quarter, and Soltani will continue to support the project over the following months in his capacity as senior technical adviser.

Great Panther said its current activities are focused on the mining of precious metals from its two wholly owned operating mines in Mexico: the Guanajuato Mine Complex and the Topia Mine. The company also is evaluating the restart of the Coricancha Mine, which it acquired in 2017, and continues to pursue the acquisition of additional mining operations or projects in the Americas.

The company did not indicate whether it will fill the COO role.

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Mon, 07 May 2018 09:53:00 -0400 https://ca.proactiveinvestors.com/companies/news/196478/great-panther-silver-s-chief-operating-officer-soltani-to-step-down-from-current-role-196478.html
<![CDATA[News - Great Panther Silver reports 38% hike in first quarter revenue as focus continues on Coricancha project ]]> https://ca.proactiveinvestors.com/companies/news/196354/great-panther-silver-reports-38-hike-in-first-quarter-revenue-as-focus-continues-on-coricancha-project-196354.html Great Panther Silver Ltd (TSE: GPR, NYSE: GPL) has reported a 38% year-on-year rise in its three months to end-March period, thanks to the normal operation of the Topia processing plant and an increase in gold prices.

The Topia plant in the Sierra Madre Mountains in Durango, north western Mexico, was suspended for planned upgrades in the first quarter last year, Jim Bannantine, president and chief executive officer said in a statement.

READ: Great Panther Silver sees 'significantly' improved production at Mexico mines in first quarter

In the first quarter, revenue rose to US$4.6mln.

As of end March, the company had cash and short-term deposits of US$60.9mln, compared with US$56.9mln end December 2017, up due to cash generated by operating activities, proceeds from its stock options exercise and foreign exchange gains on cash balances.

The company's production and cost guidance for the year ending 31 Dec 2018 remains unchanged. It has also maintained its guidance for capital expenditures and Exploration, Evaluation and Development (EE&D) expenses for the full year. 

“We continue to focus our efforts on advancing the Coricancha project, and we expect to release an economic study before the end of this quarter.”

Bannantine added: “Our balance sheet remains strong and our cash position increased to just over $60-million as we continue to fund Coricancha from the cash flows from our operations in Mexico.

The company said based on historic production records, Coricancha in the central Andes of Peru, has the potential to add 3 mln AgEq ounces of annual production.

Great Panther Silver said depending on the outcome of the evaluations on Coricancha, “investments in connection with a restart of the mine could commence in 2018.”

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Thu, 03 May 2018 08:59:00 -0400 https://ca.proactiveinvestors.com/companies/news/196354/great-panther-silver-reports-38-hike-in-first-quarter-revenue-as-focus-continues-on-coricancha-project-196354.html
<![CDATA[Media files - Great Panther Silver reports 'right on plan' production results ]]> https://ca.proactiveinvestors.com/companies/stocktube/9082/great-panther-silver-reports-right-on-plan-production-results-9082.html Tue, 17 Apr 2018 16:45:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/9082/great-panther-silver-reports-right-on-plan-production-results-9082.html <![CDATA[News - Great Panther Silver sees 'significantly' improved production at Mexico mines in first quarter ]]> https://ca.proactiveinvestors.com/companies/news/194642/great-panther-silver-sees-significantly-improved-production-at-mexico-mines-in-first-quarter-194642.html Great Panther Silver Ltd (TSE: GPR, NYSE: GPL) enjoyed 'significantly' improved output from its two Mexico mines in the first quarter compared to the same period in 2017, it told investors.

Total metal production from the Guanajuato mine complex and the Topia mine was up 42% to around 1.031mln silver equivalent ounces in the three months.

Silver production was up 35%, while gold output was lifted 13%.

Ore processed was lifted 17% to 96,869 tonnes of material milled.

"Great Panther's first quarter production improved significantly compared to the first quarter last year when the Topia plant was suspended for planned upgrades", said James Bannantine, president and chief executive.

"To date in 2018, our Mexican operations are performing steadily, with production in line with annual guidance, and we are continuing to make progress on the technical evaluation of the Coricancha Mine in Peru."

Looking ahead, the miner reiterated its 2018 production guidance of between 4mln and 4.1mln of silver equivalent ounces.

There was also no change to 2018 guidance for cash cost per silver ounce (cash cost) and all-in sustaining cost per payable silver ounce (AISC) of between US$5.00 to US$6.50 and US$12.50 to US$14.50, respectively.

"The focus for 2018 continues to be on maintaining steady and efficient operations in Mexico, while advancing the company's Coricancha Mine in Peru to set a platform for production growth in 2019 and 2020," added Great Panther.

It noted that while still being assessed, based upon historic production records, Coricancha had the potential to add 3mln silver equivalent ounces of annual production. 

"In addition, the company continues to seek and evaluate additional acquisition opportunities to meet the company's growth objectives," it added.

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Tue, 10 Apr 2018 09:23:00 -0400 https://ca.proactiveinvestors.com/companies/news/194642/great-panther-silver-sees-significantly-improved-production-at-mexico-mines-in-first-quarter-194642.html