Great Panther Silver Limited
Great Panther Silver Limited
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A big jump in gold equivalent production and revenue, due to the 1st full qtr of from its recently acquired Tucano Gold Mine in Amapá State, Brazil, has seen Great Panther Mining cut its June 2019 qtr (Q2 19) loss to $US5.6M from Q1 19’s $9.14M loss.
The 1st full qtr of prodn from the recently acquired Tucano mine has more than doubled Q2 19 prodn, with the restarting Coricancha mine in the wings
Great Panther Mining expects to have its mothballed 100%-owned Coricancha gold-silver-lead-zinc-copper operation in Peru back in operation in the 1st half of 2020, with full scale production of about 40,000oz pa gold equivalent expected by mid-2021.
The addition of the recently acquired Tucano Gold Mine in Brazil has seen Great Panther Mining lift Mar 2019 qtr (Q1 19) gold equivalent production 25% on Q4 18 to 14,860oz, with gold output up 102% to 8,293oz.
Silver production from the company’s 3 operations, including the Guanajuato complex and Topia mines in Mexico, fell 23% to 338,431oz, with lead up 2% to 481t and zinc steady at 662t.
Primarily silver miner Great Panther Silver’s Dec 2018 year (FY/CY18) bottom has collapsed 880% on FY/CY17 from profit to a net loss of $US10M on revenue down 7% to $59.4M, despite silver equiv production from its 2 Mexico operations up 15% to 4.17Moz.
Great Panther Silver is now looking to its acquisition of Aussie gold miner Beadell to restore its fortunes after a FY18 profit-to-$10M loss
Great Panther Silver shareholders have approved the primary silver miner’s mutually agreed all-share takeover of Australia-based Beadell Resources and name change to Great Panther Mining.
Beadell shareholders are also expected to concur with the takeover that valued the company and its 100%-owned Tucano Gold Mine in Brazil at $A144M, later today.
Gt Panther Silver has 2 wholly-owned operating mines in Mexico -- the Guanajuato Mine Complex and the Topia Mine.
The continuing realignment of its 2 wholly-owned Mexican mining operations to offset lower metal prices, has seen primarily silver miner Great Panther Silver lift total silver equiv production 15% to 4.17Moz in the Dec 2018 year (FY/CY18).
Record Topia production lifts Gt Panther Silver’s realigned Mexican FY18 output 15% to 4.17Moz
Beadell Resources has completed a miserable year at its Tucano gold mine in Brazil with total FY2018 production coming in at 123,336oz, 1.3% below the low end of its revised guidance and 20% less than its original guidance.
While Dec performance improved a little, CEO-MD Dr Nicole Adshead-Bell says the impact on Beadell’s financial position underlines the significant benefits and synergies of its planned merger with fellow South American producer Great Panther Silver.