logo-loader

Great Panther still a roaring buy, says Rodman & Renshaw

Last updated: 15:06 09 Nov 2015 EST, First published: 03:52 09 Nov 2015 EST

Guanajuato-silver-pour
Hot metal at Guanajuato

Rodman & Renshaw has set a C$1.10 target for Great Panther Silver (CVE:GPL), following third quarter financial results which showed the company still turning a profit in spite of the tough market.

The broker highlighted that Great Panther continues to produce silver at an all-in sustaining cost of US$13.08 per ounce, which is lower than the current spot price of US$15.00.

Having said that, the expectation is that costs will rise slightly in the fourth quarter as a result of planned capital expenditures and development work.

With C$18.7mln in cash on the balance sheet, Great Panther continues to look well-insulated in the current weak precious metals market.

What’s more, the ramp up continues at the new development at San Ignacio, part of Great Panther’s long-standing Guanajuato mine complex.

San Ignacio now accounts for over half the silver equivalent ounces now produced by Guanjuato, helped along by strong gold grades.

With costs for next year forecast to drop back to US$13.00 per ounce, Rodman & Renshaw argues that the company “remains well positioned to continue advancing its projects despite lower metals prices.”

Great Panther Mining looking for better production in 2022 after challenging...

Great Panther Mining CEO Rob Henderson joined Steve Darling from Proactive to share news the company has released their 3rd quarter financials which showed the challenges the company has faced with lower than planned production. Henderson discusses the reason behind those challenges at their...

on 11/04/2021