Great Panther Silver Limited
Great Panther Silver Limited
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Great Panther Mining has managed to cut its Mar 2022 qtr (Q1 22) net loss to $US8.88M from its Q4 21 loss of $13.8M on lower metal sales volumes due to low production, offset partially by higher realized prices for gold, lead and zinc.
Similarly, the $1.17M EBITDA loss was well down on the previous $5.22M loss, along with revenue down to $33.43M from $42.66M, mine operating losses of $3.37M from a $4,16M loss, but cash flow from operations a negative $8.61M from a negative $1.56M.
Great Panther Mining’s plans to increase and normalise production from its 2 wholly-owned operating mines hasn’t had much help from the Mar 2022 1st qtr (Q1 22) with gold equiv production down 26% on Q4 21 to 17,913oz, gold output down 31% to 14,319oz and silver down 24% to 173,698oz. Ore processed fell 4% to 889,365t.
The company says it is on track for an undisclosed normalized production rate at Tuscano in Brazil in Q2 22 with a new contractor, albeit with Q1 22 gold production down 27% to
Lower metal sales volumes offset partially by higher realized prices for silver, lead and zinc have cut Great Panther Mining’s Dec 2021 year (FY/CY 21) revenue to $US185.7M from the previous year’s $260.8M, resulting in a $42.24M net loss from a $334,000 net profit.
EBITDA was a negative $5.75M from a positive $51.13M, cash flow from operations was also a negative $686,000 from a positive $68.88M and mine operating earnings were a 882,000 loss from a positive $83.86M.
Remediation of an unstable pit wall at Great Panther Mining’s Tucano Mine in Brazil and the Covid-19 suspension of mining at its Topia mine in Mexico have been the main contributors for June 2021 qtr (Q2 21) gold equivalent production falling 9% to 27,722oz, with gold down 9% to 22,804oz and silver to 334,423oz, down 7%.
3 wholly-owned mine Americas gold-silver-lead producer Great Panther Mining has plunged to a net loss of $US331,000 in the Mar 2021 qtr (Q1 21) from a $13.61M profit in Q4 20.
However, adjusted net income came in at $1.69M from $12.93M after accounting for interest/financing charges, foreign exchange/derivative losses and income taxes. Adjusted EBITDA was halved to $12.36M from $26.5M, with free cash-flow a negative $10.66M from a positive $9.05M and cash flow from operations falling to $2.32M from $17.97M.
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.