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Monday, April 13, 2020
Great Panther Mining Limited (GPL)
First Quarter Production Results Modestly Better Than Expected
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.
GPL reports first quarter production results. Great Panther produced 34,725 gold equivalent ounces, including 28,940 ounces of gold and 374,917 ounces of silver. Compared with the prior year period, gold and silver production increased 249.0% and 10.8%, respectively. The increase in gold production was attributed to a full first quarter of Tucano mine production. Sequentially, gold and silver production declined 22.0% and 11.4%, respectively.
Mining suspended in Mexico until April 30. In April, GPL suspended activities at its mining and processing operations in Mexico in accordance with the Mexican government's suspension of non-essential activities to contain the COVID-19 virus. The Tucano mine in Brazil remains operational given that Brazil has not introduced any...
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.