Movers and SHAKERS
Wednesday, January 29, 2020
Great Panther Mining Limited (GPL)
Exploration Activity in Mexico Carries Momentum into 2020
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.
Investing in Mexico. While attention in 2019 largely focused on the company's Tucano mine in Brazil, Great Panther executed a successful exploration program in Mexico that set the stage for 2020. Following 21,711 meters of drilling in 2019, the company has allocated $4 million to fund exploration in Mexico in 2020, focused mainly on the Guanajuato and San Ignacio mines. The 2020 drilling program calls for 14,400 meters of drilling at the Guanajuato mine, up to 8,500 meters of drilling at the San Ignacio mine and 2,500 meters at Topia.
Guanajuato mine could resume production in 2020. At the beginning of 2019, production was suspended at the Guanajuato mine in order to focus on exploration for higher grade resources. Three rigs completed 8,832 meters of drilling in 126 holes and...
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.