Great Panther Silver Limited
Great Panther Silver Limited
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Lower ore processed has seen overall gold equivalent production from Great Panther Mining’s 3 Americas operations fall 17% in the Mar 21 qtr (Q1 21) to 30,556oz, with gold down 26% to 24,978oz, but silver up 60% to 360,070oz on ore processed down 10% to 854,704t.
Despite the challenges of managing COVID-19, Great Panther Mining has posted a series of records for the Sept 2020 qtr (Q3 20), including record net income up to $US18.6M from Q2 20’s $8.55M, notwithstanding a fall in gold production from its 3 operations in Brazil and Mexico to 34,031oz from 36,357oz.
Despite its 2 Mexican operations being hit hard by COVID-19 closures, the unaffected Tucano mine in Brazil has led Great Panther Mining to lift June 2020 qtr (Q2 20) gold equiv production to 38,540oz, up 11% on Q1 20, with gold up 26% to 36,356oz, but with silver down 26% to 142,457oz.
The Tucano mine in Brazil has countered big falls in Mexican production to lifted Q2 20 gold equiv output 11%
Big falls in gold-silver production from all 3 of Great Panther Mining’s operations has seen the company’s net loss for the Mar 2020 qtr (Q1 20) blow out to $US40.46M from Q4 19’s $28.1M loss on revenue down 27% to $48M, but with the adjusted net loss cut to $7.54M from a $32.4M loss.
All 3 of Great Panther Mining’s operations have posted Q1 20 output losses, taking its net loss out to $40.5M
Gold equivalent production from Great Panther Mining’s 2 Mexican and Brazilian operations has plunged 22% to 34,725oz in the Mar 2020 qtr (Q1 20) from Q4 19, with gold down 22% to 28,940oz and silver 11% lower to 364,917oz.
Great Panther Mining is shutting down mining/processing activities at its Guanajuato Mine Complex (GMC) and Topia mine until April 30, 2020, following directives from the Mexican Govt to mitigate the COVID-19 spread.
Monthly production from the 2 Mexican operations accounts for about 2% of annual consolidated gold equivalent oz and the Mar 2019 acquired Tucano mine in Brazil the remainder of production. Mining/processing operations at Tucano continue uninterrupted.
A $US38.7M goodwill impairment on the Mar 2019 acquisition of the Tucano Gold Mine in Brazil has seen Great Panther’s Dec 2019 year (FY/CY19) net loss blow out to $US91M from the previous year’s $10M loss.
Completion of the Tucano Gold Mine, Brazil, acquisition in Mar 2019 and record production from its Topia mine in Mexico, have seen Great Panther Mining nearly triple Dec 2019 year (FY/CY19) gold equiv production to 146,853oz AuEq, up 182% on FY/CY18.