Great Panther Silver Limited
Great Panther Silver Limited
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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.
Beadell Resources has received a $US5M bailout from soon-to-be parent Great Panther Silver after continued disappointing performance by its 100%-owned Tucano gold mine in Brazil.
Tucano produced 12,471oz in Nov, down from 15,046oz a month earlier, blaming issues with the oxygen-injection spargers on the leach tanks that restricted its ability to process higher-grade sulphide ore.
Despite mine adjustments to reduce mining higher cost stopes at Great Panther Silver’s 2-mine Guanajuato Complex in Mexico cutting 9-months Sept 2018 gold-silver production, silver equiv production increased 11% to 3.22Moz AgEq.
The San Ignacio and Topia mines saw silver production ease 3% to 1.42Moz, gold down the same to 16,060oz, but lead up 75% to 850t and zinc 41% better to 1,207t on ore processed up 4% to 284,985t.
(MERGERS & ACQUISITIONS)
Canadian-based Great Panther Resources will add to its South American portfolio through a friendly share-swap merger with Beadell Resources and its Tucano gold mine in Brazil.