Great Panther Silver Limited
Great Panther Silver Limited
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Operations have been suspended in an area of Great Panther Mining’s San Ignacio underground mine, part of its Guanajuato Mine Complex in Mexico, while investigations continue into the death of a contractor’s employee on Nov 8.
Interim president-CEO Jeffrey Mason says the worker died in an isolated rock fall.
The Canadian-based company will take whatever steps necessary to prevent further tragedy.
Mining is continuing in the rest of the San Ignacio producing areas.
Record silver equivalent (AgEq) production from its Topia mine in Mexico has seen Brazil-Mexico miner Great Panther Mining lift total Sept 2019 qtr (Q3 19) gold equivalent (AuEq) output 19% on Q2 19 to 47,374oz.
The result was on gold output up 18% to 39,651oz, silver 20% better to 418,032oz, lead up 19% to 539t and zinc up 20% to 689t.
Gt Panther lifts all Q3 19 precious-base metals output by 18%-20%, but with a question mark hanging over front runner Tucano’s Q4 19 prodn
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.