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Tuesday, March 10, 2020
Great Panther Mining Limited (GPL)
Company Update Is a Mixed Bag
Great Panther Mining Limited, headquartered in Vancouver, Canada, is a precious metals mining and exploration company that operates three mines. These include: 1) the Tucano gold mine in Amapa State, Brazil, 2) the Guanajuato mine complex which includes the Guanajuato and San Ignacio mines in Mexico, and 3) the Topia mine in Mexico. Great Panther also owns the Coricancha Mine in Peru, which is expected to restart operations in 2020. The shares are traded under the ticker "GPR" on the Toronto Stock Exchange and under the ticker "GPL" on the NYSE American.
Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Updated technical reports. Great Panther released results from updated technical reports for its Guanajuato, San Ignacio and Tucano mines. Compared with previous reports, estimated mineral resources for the Guanajuato mine increased by 1.5 million silver equivalent ounces as a result of 2019 exploration efforts, while decreasing by 6.4 million silver equivalent ounces at San Ignacio due, in part, to depletion. Tucano mineral reserves and resources declined, by 489,000 and 500,000 gold ounces, respectively.
Topia mine operations to be suspended. The company has stopped depositing tailings at its Phase II tailing storage facility due to evidence of material movement underlying the facility. We have assumed that mining operations at the Topia mine are suspended until an alternate solution is available. Alternatives include continued use of...
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.