Proactiveinvestors USA & Canada Great Panther Mining Limited https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Great Panther Mining Limited RSS feed en Sat, 20 Apr 2019 07:10:06 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Roth reiterates Great Panther Mining's Buy rating as it expands focus to gold ]]> https://www.proactiveinvestors.com/companies/news/218351/roth-reiterates-great-panther-mining-s-buy-rating-as-it-expands-focus-to-gold-218351.html Roth Capital Partners reiterated its Buy rating and price target for Great Panther Mining (TSE:GPR) (NYSEAmerican:GPL) on Wednesday – and the precious metals producer's shares responded, with a 2.4% bumpt to C$0.98 in Toronto and 2.4% to US$0.97 in New York. 

Roth stuck to its Buy rating and $1.80 price target for the intermediate precious metals producer, which is focused on Latin America. 

On Wednesday, Great Panther released its first quarter 2019 production results on Tuesday from its three mines, including the recently acquired Tucano Gold Mine in Amapá State, Brazil, and two silver mines in Mexico: the Guanajuato Mine Complex and the Topia Mine.

READ: Great Panther Mining releases promising production results from projects in Brazil and Mexico

In its report, Roth analysts highlighted the closing of Great Panther Mining's acquisition of Beadell Resources and the Tucano Gold mine, adding that in its view, it has elevated the company to an intermediate precious metals producer.

The company has increased its exposure to gold, which prompted a name change from Great Panther Silver to Great Panther Mining.

"With the increased size of the combined entity, we believe a stronger capital markets presence could result in a re-rating of the company," wrote Roth analysts. "In short, we view the transaction as transformational step forward in the company's goal of becoming a large Latin American focused precious metals producer."

Tucano gold mine a 'key value driver'

In its report, Roth Analysts also wrote that Great Panther's newest mine, the Tucano gold mine, is viewed as a "key value driver," adding "the integration of the Tucano Mine appears well underway as management is currently focused on commissioning the supplemental oxygen supply, which is expected to allow for the processing of higher-grade material and increase overall recoveries."

For now, Roth's existing estimates have not incorporated production from Tucano, but plans to revisit this following Great Panther's 1Q 2019 financial results. 

Roth also highlighted potential risk factors, which could include underperformance of commodity prices going forward. 

Shares of Great Panther were at C$1.29 in Toronto on Tuesday, and US$ 0.95 in New York.

Contact Katie Lewis at katie@proactiveinvestors.com

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Wed, 10 Apr 2019 13:04:00 -0400 https://www.proactiveinvestors.com/companies/news/218351/roth-reiterates-great-panther-mining-s-buy-rating-as-it-expands-focus-to-gold-218351.html
<![CDATA[News - Great Panther Mining releases promising production results from projects in Brazil and Mexico ]]> https://www.proactiveinvestors.com/companies/news/218266/great-panther-mining-releases-promising-production-results-from-projects-in-brazil-and-mexico-218266.html Great Panther Mining Ltd (TSE:GPR) (NYSEAmerican:GPL) released encouraging first quarter 2019 production results on Tuesday from its three mines, including the recently acquired Tucano Gold Mine in Amapá State, Brazil, and two silver mines in Mexico: the Guanajuato Mine Complex and the Topia Mine.

The company recently completed the US$105 million acquisition of Beadell Resources Limited. The move will add roughly 200,000 of gold equivalent ounces for 2019 and push Great Panther into the ranks of intermediate precious metals producers.

In Q1 2019, the company reported production of 14,860 ounces of consolidated gold equivalent, a bump from its Q4 2018 production of 11,897 ounces. The company processed 263,821 tonnes of ore in the first quarter.  

"We have begun the important task of integrating our newest mine, the Tucano gold mine, into our portfolio of precious metals mines and projects," said James Bannantine, president and chief executive officer, in a statement. "Given the timing of the Beadell acquisition, our consolidated results for the first quarter only reflect Tucano operating results for the last three weeks of the first quarter. Despite this, consolidated gold equivalent metal production increased by 25% compared to the last quarter of 2018.

READ: Great Panther Mining completes acquisition of Beadell Resources, makes name change official

"In addition to production, the Tucano gold mine immediately adds significant gold reserves and resources and, together with our Mexican operations, has transformed the company into a new intermediate precious metals producer focused on Latin America," added Bannantine.

Great Panther also reported 1Q production of 338,431 ounces of silver, 481 tonnes of lead and 662 tonnes of zinc.

Tucano gold mine looks bright

Great Panther reporter that for the short period from the March 5, 2019 closing of the acquisition of Beadell to the end of the first quarter, 5,164 ounces of gold were produced.

During that period, a total of 1.57 million tonnes of material was moved, with 194,000 tonnes being processed, with an average grade of 0.95 grams per tonne gold. 

"We are focused on completing the commissioning of the supplemental oxygen supply at Tucano before the end of this month, which is designed to enable the processing of higher-grade ore and increase gold recoveries," said Bannantine. 

Topia and Guanajuato mines

At its Topia Mine in Durango State, Mexico, Great Panther reported total metal production in 1Q increased to a record 420,926 silver equivalent ounces, representing increases 8% and 16%, respectively, compared with 1Q 2018 and 1Q 2017.

The company said the rise in production was attributed to more tonnage being processed and higher head grades.

At its Guanajuato mine project in Durango, Great Panther said it commenced a multi-mine optimization strategy at the start of 2019.

"In addition to a planned expansion of the Topia processing plant, this involved only sourcing production for the GMC from the San Ignacio mine, enabling a focused exploration program for the Guanajuato mine aimed at growing higher margin resources," said the company in a statement, adding further cost reduction measures were taken to lower fixed costs and overhead. 

Shares of Great Panther were at C$1.29 in Toronto on Tuesday, and US$ 0.95 in New York.

Contact Katie Lewis at katie@proactiveinvestors.com

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Tue, 09 Apr 2019 12:52:00 -0400 https://www.proactiveinvestors.com/companies/news/218266/great-panther-mining-releases-promising-production-results-from-projects-in-brazil-and-mexico-218266.html
<![CDATA[News - Great Panther Mining announces board change ]]> https://www.proactiveinvestors.com/companies/news/217472/great-panther-mining-announces-board-change-217472.html Great Panther Mining Ltd (TSE:GPR) (NYSEAMERICAN:GPL) announced Thursday that Dr. Nicole Adshead-Bell has stepped down from its board of directors. 

"On behalf of Great Panther and our shareholders, I would like to thank Nikki for her support and contributions in respect of Great Panther's acquisition of Beadell Resources Ltd. As the CEO and managing director of Beadell, she saw the strong merits of the combination and worked tirelessly to achieve a deal that was in the best interests of our respective shareholders," said Bob Garnett, chair of Great Panther. "We wish her great success in her future endeavours."

READ: Great Panther Mining completes acquisition of Beadell Resources, makes name change official

Great Panther operates three mines, including the Tucano Gold Mine in Amapá State, Brazil, and two primary silver mines in Mexico: the Guanajuato Mine Complex and the Topia Mine. Great Panther is also evaluating the restart of the Coricancha project in Peru. 

Shares of Great Panther were at C$1.29 in Toronto on Thursday. 

Contact Katie Lewis at katie@proactiveinvestors.com

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Thu, 28 Mar 2019 20:06:00 -0400 https://www.proactiveinvestors.com/companies/news/217472/great-panther-mining-announces-board-change-217472.html
<![CDATA[News - Great Panther Mining completes acquisition of Beadell Resources, makes name change official ]]> https://www.proactiveinvestors.com/companies/news/215826/great-panther-mining-completes-acquisition-of-beadell-resources-makes-name-change-official-215826.html Great Panther Silver Ltd (TSE:GPR) (NYSEAmerican:GPL) told investors Tuesday that it has completed the US$105 million acquisition of Beadell Resources Limited and officially changed its name to Great Panther Mining Limited.

In a statement, CEO James Bannantine said the Beadell deal would add roughly 200,000 of gold equivalent ounces for 2019 and push Great Panther into the ranks of intermediate precious metals producers.

“We are very pleased to close the important transaction that immediately transforms Great Panther into an intermediate precious metals producer with a strong and diversified portfolio of producing mines, advanced stage growth projects, and exploration assets,” said Bannantine in a statement.

READ: Great Panther Silver shareholders approve Beadell Resources acquisition and name change

The new metals producer will boast a diversified portfolio of producing mines in Mexico and Brazil and an advanced stage development project in Peru.

Great Panther operates three mines, including the Tucano Gold Mine in Amapá State, Brazil, and two primary silver mines in Mexico: the Guanajuato Mine Complex and the Topia Mine. Great Panther is also evaluating the restart of the Coricancha project in Peru and expects to make a decision on whether or not to restart the project by the end of March 2019.

Going forward, Bannantine says Great Panther’s focus will be on the integration of its Brazilian operations and advancing an exploration program to tap into the potential of the Tucano Gold Mine.

Beadell’s production of 123,000 gold ounces in proforma 2018 will complement Great Panther's own output of 4.17 million silver equivalent ounces.

READ: Great Panther Silver's Beadell acquisition gets second endorsement from big name proxy advisory firm

The combination will also add extensive reserve and resources, including 1.3 million ounces of gold in proven and probable reserves, and 2 million ounces of measured and indicated gold resources.

As part of the acquisition, Dr Nicole Adshead-Bell, former CEO and managing director of Beadell, joins Great Panther’s board of directors.

Under the deal's terms, Great Panther acquired 100% of Beadell through the issuance of more than 103 million Great Panther shares to Beadell shareholders. The share exchange represents a ratio of 0.0619 Great Panther shares for each Beadell share.

Beadell's shares stopped trading on the Australian Securities Exchange on February 18 and are expected to be delisted on March 6, 2019.

Great Panther shares slipped C$.01 to finish at C$1.16 on Monday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Tue, 05 Mar 2019 08:34:00 -0500 https://www.proactiveinvestors.com/companies/news/215826/great-panther-mining-completes-acquisition-of-beadell-resources-makes-name-change-official-215826.html
<![CDATA[News - Great Panther Silver expects 25% increase in Topia mine output this year; posts 2018 results ]]> https://www.proactiveinvestors.com/companies/news/215628/great-panther-silver-expects-25-increase-in-topia-mine-output-this-year-posts-2018-results-215628.html Great Panther Silver Ltd (TSE:GPR) (NYSEAMERICAN:GPL) said it expects output at its Topia mine in Mexico to increase 25% this year, as it posted financial results for full year 2018.

The Vancouver-based company has two wholly-owned operating mines in Mexico - the Guanajuato Mine Complex (GMC) and Topia.

The planned increase at Topia will be due to improved processing capacity, the company told investors, while at GMC the firm has taken steps to reduce costs and maximize operating cash flow.

READ: Great Panther Silver gets green light to acquire Beadell Resources

All production for GMC this year will be sourced from the lower cost San Ignacio Mine, which will allow for a focused exploration program for the Guanajuato Mine aimed at growing higher margin resources, it added.

Also for 2019, the firm expects to close its scale-shifting Beadell Resources acquisition early this month (March).

James Bannantine, president and CEO of Great Panther said 2018 had seen strategic advances for the company but metal prices had been challenging. This, combined with higher operating costs and investments in exploration and its plan to acquire Beadell Resources, had all contributed to a loss for the year, but 2019 will be a year of change, he said.

Lower prices, higher costs

"Significantly lower silver prices and higher costs driven by geology at our Guanajuato Mine in the third quarter reduced mine operating earnings year-over-year," he said. "Furthermore, we continued to fully expense the advancement of our Coricancha project in Peru. These factors were the primary contributors to our loss this year. 

"With regard to our costs in Mexico, we took quick action to implement cost reduction and restructuring measures and started to realize cost reductions in the fourth quarter. We also invested significantly in corporate development, which culminated in a transformational deal to acquire Beadell Resources Limited that will formally close in early March."

For the year to end December, mine operating earnings came in at US$8.1 million versus US$17.7mln last year, while revenue was down 7% to US$59.4 million compared to US$63.7 million last year.

The net loss was US$10.1 million compared to an income of US$1.3 million in 2017.

Contact Giles at giles@proactiveinvestors.com

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Fri, 01 Mar 2019 08:56:00 -0500 https://www.proactiveinvestors.com/companies/news/215628/great-panther-silver-expects-25-increase-in-topia-mine-output-this-year-posts-2018-results-215628.html
<![CDATA[News - Great Panther Silver gets green light to acquire Beadell Resources ]]> https://www.proactiveinvestors.com/companies/news/214905/great-panther-silver-gets-green-light-to-acquire-beadell-resources-214905.html Great Panther Silver Ltd (TSE:GPR) (NYSEAMERICAN:GPL) expects closing of its acquisition of  Beadell Resources Ltd to take place in the first week of March.

On February 15 this year, Beadell received final orders from the Supreme Court of Western Australia approving the acquisition, which became effective on February 18, 2019.

As reported, respective shareholders of Great Panther and Beadell approved the transaction at their respective shareholder meetings held last week.

READ: Beadell Resources shareholders approve Great Panther Silver acquisition

 

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Tue, 19 Feb 2019 12:44:00 -0500 https://www.proactiveinvestors.com/companies/news/214905/great-panther-silver-gets-green-light-to-acquire-beadell-resources-214905.html
<![CDATA[Media files - Great Panther Silver shareholders vote over 96 percent in favour of Beadell acquisition ]]> https://www.proactiveinvestors.com/companies/stocktube/12221/great-panther-silver-shareholders-vote-over-96-percent-in-favour-of-beadell-acquisition-12221.html Wed, 13 Feb 2019 16:58:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/12221/great-panther-silver-shareholders-vote-over-96-percent-in-favour-of-beadell-acquisition-12221.html <![CDATA[News - Beadell Resources shareholders approve Great Panther Silver acquisition ]]> https://www.proactiveinvestors.com/companies/news/214475/beadell-resources-shareholders-approve-great-panther-silver-acquisition-214475.html Great Panther Silver Ltd (TSE:GPR) (NYSEAMERICAN:GPL) announced that Beadell Resources shareholders in Perth had approved the scheme of arrangement, which will see Beadell being acquired by the former and that closing of the deal is expected in the first week of March.

"We are very pleased to receive Beadell's shareholders' support on this important transaction," said James Bannantine, Great Panther's president and CEO.

READ: Great Panther Silver shareholders approve Beadell Resources acquisition and name change

"This combination benefits both Beadell and Great Panther shareholders and provides investors with meaningful exposure to precious metals across a diversified portfolio of producing, advance stage and exploration assets in the Americas."

Yesterday, Great Panther shareholders approved the US$105 million acquisition of Beadell Resources, along with plans to change its name to Great Panther Mining Ltd.

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Tue, 12 Feb 2019 10:17:00 -0500 https://www.proactiveinvestors.com/companies/news/214475/beadell-resources-shareholders-approve-great-panther-silver-acquisition-214475.html
<![CDATA[News - Great Panther Silver shareholders approve Beadell Resources acquisition and name change ]]> https://www.proactiveinvestors.com/companies/news/214388/great-panther-silver-shareholders-approve-beadell-resources-acquisition-and-name-change-214388.html Great Panther Silver Ltd (TSE:GPR) (NYSEAMERICAN:GPL) shares ticked higher in Toronto as shareholders approved its US$105 million acquisition of Beadell Resources along with plans to change its name to Great Panther Mining Ltd.

A special meeting was held earlier today, while Beadell shareholders will meet later today in Perth to vote on the acquisition.

"The acquisition of Beadell is transformational for Great Panther, resulting in the creation of a new growth-oriented intermediate precious metals producer with a strong balance sheet and diverse asset portfolio including three producing mines, an advanced stage project, and significant exploration potential," said James Bannantine, president and CEO of Great Panther, as he thanked shareholders.

The firm revealed that 96.71% of shareholders approved the acquisition and 96.63% approved the change of name.

As previously reported, the new metals producer will boast a diversified portfolio of producing mines in Mexico and Brazil and an advanced stage development project in Peru.

Beadell’s production of 123,000 gold ounces in proforma 2018 will complement Great Panther's own output of 4.17 million silver equivalent ounces.

The combination will also add extensive reserve and resources, including 1.3 million ounces of gold in proven and probable reserves, and 2 million ounces of measured and indicated gold resources.

Last month, two big-name proxy advisory firms Glass Lewis & Co and Institutional Shareholder Services Inc recommended that shareholders vote in favor of the plan.
If Beadell shareholders vote in favour of the move, the acquisition is expected to close in the first week of March.

The name change will become effective upon closing, while the company will continue to trade on the Toronto Stock Exchange under the symbol GPR and NYSE American under the symbol GPL.

Great Panther shares nudged up 2.2% in Toronto to $0.99.

 

-- updated share price -- 

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Mon, 11 Feb 2019 14:46:00 -0500 https://www.proactiveinvestors.com/companies/news/214388/great-panther-silver-shareholders-approve-beadell-resources-acquisition-and-name-change-214388.html
<![CDATA[News - Great Panther Silver's Beadell acquisition gets second endorsement from big name proxy advisory firm ]]> https://www.proactiveinvestors.com/companies/news/213633/great-panther-silver-s-beadell-acquisition-gets-second-endorsement-from-big-name-proxy-advisory-firm-213633.html Great Panther Silver Ltd (TSE:GPR) (NYSEAMERICAN:GPL) revealed it has received another endorsement for its proposed acquisition of Beadell Resources Ltd.

The Vancouver-based resource firm said that a second proxy advisory firm Glass Lewis & Co had recommended that shareholders vote in favor of the plan.

On January 16 this year, proxy advisory firm Institutional Shareholder Services Inc (ISS) also recommended shareholders vote in favor.

READ: Great Panther says proxy advisory firm ISS recommends shareholder support for Beadell deal

"The arrangement would create a geographically and developmentally diversified enterprise with clearer financial stability and a stronger ability to pursue attractive alternatives, including those related to (Great Panther's) Coricancha asset and Beadell's Tucano asset," said Glass Lewis.

Founded in 2003, Glass Lewis is based in San Francisco and is one of the most prominent proxy advisory services in the world.

Great Panther agreed in September last year to acquire Beadell for US$105 million. After closing the deal, the company plans to change its name to Great Panther Mining Ltd.

The proxy voting deadline for Great Panther shareholders is 9 am Pacific time on February 7. A special meeting of Great Panther shareholders is scheduled for February 11 in Vancouver.

The new metals producer will boast a diversified portfolio of producing mines in Mexico and Brazil, and an advanced stage development project in Peru.

Add to production stats

Beadell’s production of 123,000 gold ounces in proforma 2018 will complement its own output of 4.17 million silver equivalent ounces.

The combination will also add extensive reserve and resources, including 1.3 million ounces of gold in proven and probable reserves, and 2 million ounces of measured and indicated gold resources.

It's already been a busy news week for Great Panther Silver Ltd. Yesterday, it told investors it had lifted the mineral resource at its Topia mine in Mexico, supporting its plans to lift metals production by around 25% in 2019.

The higher confidence measured and indicated resource category was increased by 28% since the last estimate in 2014 to 475,900 tonnes at a grade of 461 g/t (grams per ton) silver, 1.35 g/t gold, 3.87% lead and 4.06% zinc.

That contains 14.77 million silver equivalent ounces.

"This update provides for a long mine life at Topia and supports the planned increase in processing capacity which is expected to increase 2019 production by approximately 25%. In addition, the conversion of inferred resources and further exploration potential provide a good opportunity to further extend mine life," said James Bannantine, the president and CEO.

Shares in Toronto were unchanged at $0.95.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter @Gile74

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Wed, 30 Jan 2019 09:59:00 -0500 https://www.proactiveinvestors.com/companies/news/213633/great-panther-silver-s-beadell-acquisition-gets-second-endorsement-from-big-name-proxy-advisory-firm-213633.html
<![CDATA[Media files - Institutional Shareholder Services gives thumbs up to Great Panther/Beadell merger ]]> https://www.proactiveinvestors.com/companies/stocktube/11867/institutional-shareholder-services-gives-thumbs-up-to-great-pantherbeadell-merger-11867.html Wed, 16 Jan 2019 15:53:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/11867/institutional-shareholder-services-gives-thumbs-up-to-great-pantherbeadell-merger-11867.html <![CDATA[News - Newmont Mining’s $10 billion shopping spree shows ‘consolidation is necessary’ to deliver value, growth among gold miners ]]> https://www.proactiveinvestors.com/companies/news/212527/newmont-minings-10-billion-shopping-spree-shows-consolidation-is-necessary-to-deliver-value-growth-among-gold-miners-212527.html Newmont Mining Corp’s (NYSE:NEM) planned acquisition of Canadian rival Goldcorp Inc (TSX:G) for $10 billion shows that consolidation has become necessary and will deliver value and growth to shareholders, said mining company chief executives.

The deal will create the world’s biggest gold producer by output.

“Large gold miners are no longer capable of delivering value and growth organically — ounces in existing mines are becoming harder and more expensive to mine. Hence, to deliver into the value growth expectations of their shareholders, consolidation has become necessary,” DRDGOLD CEO Niel Pretorius told Proactive Investors.

READ: Newmont Mining to create world’s biggest gold producer by output with $10bn deal to buy Goldcorp

Pretorius knows exactly what he is talking about as DRDGOLD Limited (NYSE:DRD) (JSE:DRD), one of the oldest continuously listed miners on the Johannesburg Stock Exchange, recently acquired gold and platinum miner Sibanye-Stillwater’s West Rand Tailings Retreatment Project (WRTRP).

According to analysts, the acquisition transforms DRDGOLD in one stroke giving it a platform from which to grow aggressively into Africa and other commodities. It also cuts overhead unit costs through increased production and puts an end to DRDGOLD’S single asset operating risk.

DRDGOLD wants to bring the high-grade tailings dumps into production by early 2019. The new West Rand crown jewel virtually doubles the miner’s gold reserves, giving it immediate access to facilities that can generate cash for it in a matter of months.

Growth and cleansing process

This is the second high-profile merger in the mining industry since Barrick Gold agreed to buy Randgold Resources in September last year to cut costs.

“This second mega-merger highlights the difficulty for large mining companies to replace ounces. To reverse the forecasted trend of less production back into a grow story they apparently need to acquire other companies to replace and grow ounces and production,” said Gold Resource Corporation (NYSEAMERICAN:GORO) CEO Jason Reid.

Reid also saw it as both a “growth and cleansing process” for the industry.

“It’s interesting in this case as well as the Barrick/Randgold mega-merger that both deals announced divestitures of the survivor company’s consolidated assets," he told Proactive. "Most likely the planned divestitures are the marginal or non-profitable mining operations. It looks to be both a growth and cleansing process for the industry.”

READ: Gold Resource declares December dividend

Mining executives say that falling gold reserves and higher extraction costs have prompted miners to look for cost efficiencies.

“The strategic rationale for combining Goldcorp with Newmont is powerfully compelling on many levels,” said Goldcorp CEO David Garofalo.

The combined company is expected to produce 6 million to 7 million ounces of gold over the next 10 years. In 2017, Newmont produced 5.3 million ounces of gold, while Goldcorp mined 2.6 million ounces.

Their reserves and resources will represent the largest in the gold sector and will spread through mining jurisdictions in the Americas, Australia, and Ghana.

Expect further consolidation

“As the larger companies reset margin and increase production through consolidation, the smaller operators will become increase expensive and uncompetitive. More consolidation across the board is likely to start taking place,” said DRD's Pretorius.

Similarly, Gold Resources' Reid said most likely this trend will continue as a mean to show shareholders “a growth story while simultaneously getting rid of marginal operations.”

"We view the deal as a further positive signal of an inflection point in the mining industry. With increasing precious metal prices and improving investor confidence, we will likely see an acceleration of merger activity. We announced our acquisition of Beadell Resources (BDR: ASX) on Sep 23, the night before Barrick and Rangold, and look forward to closing next month, creating a new growth-oriented intermediate precious metals producer," said Great Panther Silver Ltd (TSX:GPR) (NYSE:GPL) CEO James M Bannantine.

Shareholder meetings to approve Vancouver-based Great Panther’s acquisition of Australia-based Beadell are scheduled for February 11 in Vancouver and February 12 in Perth.

Great Panther agreed in September to acquired Beadell for $105 million. 

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

-- (Updates with comments from Great Panther Silver CEO James M. Bannantine) -- 

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Tue, 15 Jan 2019 14:55:00 -0500 https://www.proactiveinvestors.com/companies/news/212527/newmont-minings-10-billion-shopping-spree-shows-consolidation-is-necessary-to-deliver-value-growth-among-gold-miners-212527.html
<![CDATA[News - Great Panther Silver extends short-term loan to Beadell Resources' subsidiary ]]> https://www.proactiveinvestors.com/companies/news/210701/great-panther-silver-extends-short-term-loan-to-beadell-resources-subsidiary-210701.html Great Panther Silver Ltd (TSE:GPR) (NYSE:GPL) said it is extending a short-term loan to the Brazilian subsidiary of a company it is buying.

It is advancing US$5 million to the Beadell Resources unit, which will be used to meet working capital requirements.

READ: Great Panther Silver says it's making good progress on $105M Beadell acquisition

The facility, which carries a 14% annual interest charge, is in place until January 15, though there is the option to extend it for a further 30 days.

The loan will be repaid from the proceeds of two Brazilian tax refunds.

Last week, Great Panther said it is progressing well towards completing the previously-announced $105 million acquisition of Beadell Resources to create a new precious metals producer focused on the Americas.

Beadell is currently the operator of the 100%-owned Tucano gold mine in Amapa State in northern Brazil.

“The acquisition will create a new emerging and growth-oriented precious metals producer focused on the Americas with strong geographic diversity across three leading mining jurisdictions, and a diverse asset portfolio including three producing mines, an advanced stage project, and significant exploration potential,” Great Panther said in its latest release.

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Thu, 06 Dec 2018 09:23:00 -0500 https://www.proactiveinvestors.com/companies/news/210701/great-panther-silver-extends-short-term-loan-to-beadell-resources-subsidiary-210701.html
<![CDATA[News - Great Panther Silver says it's making good progress on $105M Beadell acquisition ]]> https://www.proactiveinvestors.com/companies/news/210326/great-panther-silver-says-it-s-making-good-progress-on-105m-beadell-acquisition-210326.html Great Panther Silver Ltd (TSX:GPR) (NYSE:GPL) says it's progressing well towards completing the previously announced acquisition of Beadell Resources to create a  new precious metals producer focused on the Americas.

Beadell is currently the operator of the 100% owned Tucano gold mine in Amapa State, northern Brazil, and closing the deal hangs on certain arrangements relating to its outstanding US$10 million convertible debentures.

"We are advancing through the regulatory process in Australia and progressing well towards the completion of our acquisition of Beadell and expect respective meetings seeking shareholder approvals to take place early in 2019", said James Bannantine, Great Panther's president and CEO.

READ: Great Panther Silver poised to create new precious metals producer focused on the Americas with $105M Beadell buy

"This latest announcement is an important next step, as we are confirming our intention to offer to purchase the convertible debentures immediately after closing and amend the existing terms as required in the event of an acquisition," he added.

Bannantine noted that if the current debenture holders choose to continue to hold them, they will benefit from an improved credit profile.

"Otherwise, Great Panther has the balance sheet to purchase the convertible debentures and is also considering options to refinance," he said in a regulatory statement.

The $105 million deal to buy Beadell Resources creates a new entity focused on the Americas, and benefitting from a strong balance sheet and a diverse asset portfolio including three producing mines.

There would also be an advanced stage project, and significant exploration potential and "attractive" re-rating potential, Great Panther has previously said.

The combined company is expected to have proven and probable reserves of around 1.5 million ounces of gold and will result in a significant lift in pro forma gold and silver production.

Great Panther will contribute 4 million silver-equivalent ounces of production in 2018, and Beadell will add 130,000 gold ounces in 2018 and a further 163,000 ounces in 2019, with potential for further increase upon a positive decision to restart Coricancha in Peru.

Shares in Toronto added 2.53% to stand at $0.81.

Contact Giles Gwinnett at giles@proactiveinvestors.com

Follow Giles on Twitter @Gile74

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Fri, 30 Nov 2018 10:06:00 -0500 https://www.proactiveinvestors.com/companies/news/210326/great-panther-silver-says-it-s-making-good-progress-on-105m-beadell-acquisition-210326.html
<![CDATA[Media files - Great Panther Silver looks at Beadell acquisition as transformational move ]]> https://www.proactiveinvestors.com/companies/stocktube/11030/great-panther-silver-looks-at-beadell-acquisition-as-transformational-move-11030.html Mon, 29 Oct 2018 14:47:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/11030/great-panther-silver-looks-at-beadell-acquisition-as-transformational-move-11030.html <![CDATA[News - Great Panther Silver pushing ahead with bulk sample programme at Peru project; posts second-quatrer results ]]> https://www.proactiveinvestors.com/companies/news/202120/great-panther-silver-pushing-ahead-with-bulk-sample-programme-at-peru-project-posts-second-quatrer-results-202120.html Precious metals miner Great Panther Silver Ltd (TSX:GPR; NYSE:GPL) is making good progress on its bulk sample program (BSP) at the Coricancha gold-silver-lead-zinc-copper project in Peru.

The BSP will process around 6,000 tonnes of material and is expected to be finished in the first quarter of 2019, the firm said Thursday.

The project was started after the release of a preliminary economic assessment (PEA) for the Peru project, which put a  net present value on it at US$16.6mln.

Access decline advanced..

Since then, the access decline has been advanced 75 metres, which is ahead of schedule, said Great Panther.

Work has also begun on the upgrade and rehabilitation of surface roads and underground mine infrastructure.

Mechanical, electrical and instrumentation testing has also begun on the crushing, grinding, and flotation circuits.

Also today, the miner posted its second quarter and half year results, which showed the second three months had been impacted by  Coricancha related project and care and maintenance and higher costs at the Guanajuato mine complex due to narrower vein widths than expected.

"Despite this, we are maintaining our cost guidance for the year, as we expect the trend in Q2 to reverse in the remainder of the year based on our recent drill results and development to date to access these drilled targets," said Jim Bannantine, president and chief executive.

Strong balance sheet..

"We continue to maintain a strong balance sheet with approximately $60-million of cash and short-term investments, and no debt, which is more than sufficient to fund the development of Coricancha.

"Further, we expect our Mexican operations will continue to provide cash flow to fund the company's ongoing requirements."

Revenue for the six months to June 30 came in at US$34mln versus US$28.1mln last year. The net loss was US$2.8MLn versus a profit of US$3.8mln in 2017.

The production guidance for 2018 remains unchanged at between 4mln and 4.1mln silver equivalent ounces at all in sustaining costs (ASIC) of US$12.50 and US$14.50.

Shares in Great Panther in Toronto dropped 2.03% to C$1.45 each.

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Thu, 02 Aug 2018 09:27:00 -0400 https://www.proactiveinvestors.com/companies/news/202120/great-panther-silver-pushing-ahead-with-bulk-sample-programme-at-peru-project-posts-second-quatrer-results-202120.html
<![CDATA[News - Great Panther Silver repeats 2018 guidance as it unveils second quarter production stats ]]> https://www.proactiveinvestors.com/companies/news/200509/great-panther-silver-repeats-2018-guidance-as-it-unveils-second-quarter-production-stats-200509.html Precious metals producer Great Panther Silver Ltd (TSX:GPR; NYSE:GPL) has maintained its production and cost guidance for full year 2018 as it posted second quarter numbers for its Mexico mines.

Tonnes milled in the three months were lower than the previous quarter and the same period of 2017 due to heavy rainfall, and a higher proportion of harder ores from the San Ignacio mine, which reduced processing capacity.

READ: Great Panther Silver holds annual general meeting; re-elects directors

At its Guanajuato complex, the San Ignacio mine accounted for 70% of the total ore processed at the project in the period, against 55% in  the same quarter of 2017. Consolidated metal production across both the firm's producing mines (GMC and Topia mine) decreased 9% to around 1.002mln silver equivalent ounces.At GMC, production was 643,432 silver equivalent ounces -  an 8% decrease compared to the previous quarter,

At Topia, total production was 358,737 silver equivalent ounces, an increase of 7% over the previous quarter. The rise was attributed to higher silver grades due to the increased proportion of production from higher silver grade zones and improved metallurgical recoveries.

"While production during the second quarter was somewhat lower than planned due to heavier than usual rainfall at our Guanajuato Mine Complex, we continue to expect to meet our production guidance for 2018", James Bannantine, Great Panther's president and chief executive, told investors.

"In addition, we are very pleased with the positive results of our recently announced preliminary economic assessment for the Coricancha mine in Peru.

"We have now begun preparations for the bulk sample program and look forward to providing further updates as we continue to advance the project."

Great Panther noted that it was repeating its 2018 production, cash cost and AISC (all in sustaining costs) guidance but cautioned that cash cost and AISC were very sensitive to the Mexican peso foreign exchange rate and metal prices.

The miner puts total silver equivalent production for the year at between 4mln and 4.1mln ounces, with cash costs of US$5 to US$6.50. ASIC is put at US$12.50 to US$14.50.

Shares eased 0.67% to C$1.48 each in Toronto.

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Tue, 10 Jul 2018 12:22:00 -0400 https://www.proactiveinvestors.com/companies/news/200509/great-panther-silver-repeats-2018-guidance-as-it-unveils-second-quarter-production-stats-200509.html
<![CDATA[News - Great Panther Silver holds annual general meeting; re-elects directors ]]> https://www.proactiveinvestors.com/companies/news/198567/great-panther-silver-holds-annual-general-meeting-re-elects-directors-198567.html Great Panther Silver Ltd. (TSX:GPR; NYSE:GPL) today announced results from its annual general meeting, held 7 June 2018. 

A total of 93,649,355 votes were cast, representing 55.5% of the issued and outstanding common shares as of the record date for the meeting.

All of the director nominees were elected by shareholders present or represented by proxy. 

WATCH: Great Panther Silver CEO says Coricancha PEA results indicate its a 'robust' economic project

Directors elected include: R.W. (Bob) Garnett, Robert A. Archer, John Jennings, W.J. (James) Mullin, Elise Rees, James M. Bannantine and Jeffrey R. Mason. 

Shareholders voted 98.4% in favour of setting the number of directors at seven and 97.4% in favour of appointing KPMG LLP as auditor. 

The company recently announced results of a preliminary economic assessment (PEA) done for its Peru project, which showed robust numbers and low capital costs. Coricancha is a gold-silver-lead-zinc-copper underground mine and mill complex. 

Great Panther Silver shares closed at C$1.57 on Friday. 

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Fri, 08 Jun 2018 19:38:00 -0400 https://www.proactiveinvestors.com/companies/news/198567/great-panther-silver-holds-annual-general-meeting-re-elects-directors-198567.html
<![CDATA[Media files - Great Panther Silver CEO says Coricancha PEA results indicate its a 'robust' economic project ]]> https://www.proactiveinvestors.com/companies/stocktube/9425/great-panther-silver-ceo-says-coricancha-pea-results-indicate-its-a-robust-economic-project-9425.html Fri, 01 Jun 2018 13:39:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/9425/great-panther-silver-ceo-says-coricancha-pea-results-indicate-its-a-robust-economic-project-9425.html <![CDATA[News - Great Panther Silver hails PEA for Peru project, which puts net present value at US$16.6mln ]]> https://www.proactiveinvestors.com/companies/news/198024/great-panther-silver-hails-pea-for-peru-project-which-puts-net-present-value-at-us166mln-198024.html Precious metals producer Great Panther Silver Ltd (TSX:GPR; NYSE:GPL) has hailed the results of a  preliminary economic assessment (PEA) for its Peru project, which showed robust numbers and low capital costs.

Coricancha is a gold-silver-lead-zinc-copper underground mine and mill complex, 90 km east of the capital Lima.

READ: Great Panther Silver set to unveil preliminary economic assessment for Peru project

The document assumes using standard cut-and-fill and resue mining techniques providing ore to support a target annual throughput rate of 550 tonnes per day (tpd) to the mill.

Using base case metal prices, including gold at US$1,300 per ounce and silver at US$16.50 an ounce, Great Panther said the mine was estimated to generate an after-tax net present value (NPV) of US$16.6mln and an after-tax internal rate of return (IRR) of 81%.

Operating costs were pegged at US$55.71 per tonne mining, US$68.83 per tonne processing, and US$23.52 per tonne for general and administration, for a total cost of US$148.06 per tonne.

Cash costs were estimated to be US$14.06 per payable silver ounce, or US$70 per payable gold ounce over the life of the mine.

All-in sustaining costs were estimated by the report to be US$2.20 per payable silver ounce, or US$547 per payable gold ounce, over the life of the mine.

The mine plan envisages 608,053 tonnes being processed over a life of mine (LOM) of 3.75 years, with 193,500 tonnes of annual average throughput.

"We are very pleased with the results of the Coricancha PEA as it confirms the potential for average annual production of three million silver-equivalent ounces and estimates an after-tax internal rate of return in excess of 80%, with low capital costs", said James Bannantine, the president and chief executive at Great Panther.

"We look forward to advancing Coricancha by building on the PEA and gaining a better understanding of the potential of the project as we begin preparations for full-scale mining and milling."

Start of trial stope and bulk sample program

With the report now completed, Great Panther will advance the project, it said, with the start of a trial stope and bulk sample program early in the third quarter this year.

The aim of this bulk sample is to provide confirmation of expectations regarding throughput, grades, and recoveries.

The company said it will leverage its expertise in developing and operating underground, narrow vein mines in Mexico to advance the project.

Existing infrastructure in place includes a crushing and grinding plant, flotation and bio-oxidation plant, electrical and water supply, plus existing mine access development.

It is worth noting that Great Panther has identified several opportunities to further enhance the economics of the project and increase the life of mine.

Great Panther shares were unchanged at C$1.61 each.

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Thu, 31 May 2018 09:34:00 -0400 https://www.proactiveinvestors.com/companies/news/198024/great-panther-silver-hails-pea-for-peru-project-which-puts-net-present-value-at-us166mln-198024.html
<![CDATA[News - Great Panther Silver set to unveil preliminary economic assessment for Peru project ]]> https://www.proactiveinvestors.com/companies/news/197937/great-panther-silver-set-to-unveil-preliminary-economic-assessment-for-peru-project-197937.html Precious metals producer Great Panther Silver Ltd (TSX:GPR; NYSE:GPL) is set to release the results of the preliminary economic assessment (PEA) for its 100% owned Coricancha gold-silver-lead-zinc-copper underground mine and mill complex in Peru on May 31 before the market opens.

Earlier this month, Great Panther posted a 38% year-on-year rise in its three months to end-March period, thanks to the normal operation of the Topia processing plant and an increase in gold prices.

READ: Great Panther Silver reports 38% hike in first quarter revenue as focus continues on Coricancha project

In the first quarter, revenue rose to US$4.6mln, while at period end, the firm had cash and short-term deposits of US$60.9mln, compared with US$56.9mln end December 2017.

Jim Bannantine, president and chief executive, had said: “Our balance sheet remains strong and our cash position increased to just over $60-million as we continue to fund Coricancha from the cash flows from our operations in Mexico.

The company said based on historic production records, Coricancha in the central Andes of Peru, has the potential to add 3 mln AgEq (silver equivalent) ounces of annual production.

Great Panther Silver said depending on the outcome of the evaluations on Coricancha, “investments in connection with a restart of the mine could commence in 2018”.

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Wed, 30 May 2018 09:27:00 -0400 https://www.proactiveinvestors.com/companies/news/197937/great-panther-silver-set-to-unveil-preliminary-economic-assessment-for-peru-project-197937.html
<![CDATA[News - Great Panther Silver's Chief Operating Officer Soltani to step down from current role ]]> https://www.proactiveinvestors.com/companies/news/196478/great-panther-silver-s-chief-operating-officer-soltani-to-step-down-from-current-role-196478.html Great Panther Silver Limited (TSX:GPR, NYSE:GPL) said Ali Soltani will be stepping down from his role as chief operating officer of the Vancouver-based silver mining company effective 31 May 2018.

Great Panther said Soltani will continue to provide services on a part-time basis until 30 September 2018 as senior technical adviser to Great Panther's management team.

"On behalf of the board and all the employees of Great Panther, I want to sincerely thank Ali for his dedicated service to the company as COO and wish him the best in his next chapter," Jim Bannantine, Great Panther president and CEO, said. "Ali joined us in 2014, and we have benefited greatly from his leadership, expertise and extensive experience in the mining industry."

Soltani said there is "never a perfect time to leave an organization like Great Panther. However, I believe the team the company has in place to execute on current operations, develop projects and grow the business is strong, so I can start to transition now with the comfort that the company has a promising future."

Most recently, Soltani served as the lead executive for Great Panther's Coricancha Project in Peru. Great Panther said it remains on track to deliver an updated technical study on Coricancha before the end of the second quarter, and Soltani will continue to support the project over the following months in his capacity as senior technical adviser.

Great Panther said its current activities are focused on the mining of precious metals from its two wholly owned operating mines in Mexico: the Guanajuato Mine Complex and the Topia Mine. The company also is evaluating the restart of the Coricancha Mine, which it acquired in 2017, and continues to pursue the acquisition of additional mining operations or projects in the Americas.

The company did not indicate whether it will fill the COO role.

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Mon, 07 May 2018 09:53:00 -0400 https://www.proactiveinvestors.com/companies/news/196478/great-panther-silver-s-chief-operating-officer-soltani-to-step-down-from-current-role-196478.html
<![CDATA[News - Great Panther Silver reports 38% hike in first quarter revenue as focus continues on Coricancha project ]]> https://www.proactiveinvestors.com/companies/news/196354/great-panther-silver-reports-38-hike-in-first-quarter-revenue-as-focus-continues-on-coricancha-project-196354.html Great Panther Silver Ltd (TSE: GPR, NYSE: GPL) has reported a 38% year-on-year rise in its three months to end-March period, thanks to the normal operation of the Topia processing plant and an increase in gold prices.

The Topia plant in the Sierra Madre Mountains in Durango, north western Mexico, was suspended for planned upgrades in the first quarter last year, Jim Bannantine, president and chief executive officer said in a statement.

READ: Great Panther Silver sees 'significantly' improved production at Mexico mines in first quarter

In the first quarter, revenue rose to US$4.6mln.

As of end March, the company had cash and short-term deposits of US$60.9mln, compared with US$56.9mln end December 2017, up due to cash generated by operating activities, proceeds from its stock options exercise and foreign exchange gains on cash balances.

The company's production and cost guidance for the year ending 31 Dec 2018 remains unchanged. It has also maintained its guidance for capital expenditures and Exploration, Evaluation and Development (EE&D) expenses for the full year. 

“We continue to focus our efforts on advancing the Coricancha project, and we expect to release an economic study before the end of this quarter.”

Bannantine added: “Our balance sheet remains strong and our cash position increased to just over $60-million as we continue to fund Coricancha from the cash flows from our operations in Mexico.

The company said based on historic production records, Coricancha in the central Andes of Peru, has the potential to add 3 mln AgEq ounces of annual production.

Great Panther Silver said depending on the outcome of the evaluations on Coricancha, “investments in connection with a restart of the mine could commence in 2018.”

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Thu, 03 May 2018 08:59:00 -0400 https://www.proactiveinvestors.com/companies/news/196354/great-panther-silver-reports-38-hike-in-first-quarter-revenue-as-focus-continues-on-coricancha-project-196354.html
<![CDATA[Media files - Great Panther Silver reports 'right on plan' production results ]]> https://www.proactiveinvestors.com/companies/stocktube/9082/great-panther-silver-reports-right-on-plan-production-results-9082.html Tue, 17 Apr 2018 16:45:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/9082/great-panther-silver-reports-right-on-plan-production-results-9082.html <![CDATA[News - Great Panther Silver sees 'significantly' improved production at Mexico mines in first quarter ]]> https://www.proactiveinvestors.com/companies/news/194642/great-panther-silver-sees-significantly-improved-production-at-mexico-mines-in-first-quarter-194642.html Great Panther Silver Ltd (TSE: GPR, NYSE: GPL) enjoyed 'significantly' improved output from its two Mexico mines in the first quarter compared to the same period in 2017, it told investors.

Total metal production from the Guanajuato mine complex and the Topia mine was up 42% to around 1.031mln silver equivalent ounces in the three months.

Silver production was up 35%, while gold output was lifted 13%.

Ore processed was lifted 17% to 96,869 tonnes of material milled.

"Great Panther's first quarter production improved significantly compared to the first quarter last year when the Topia plant was suspended for planned upgrades", said James Bannantine, president and chief executive.

"To date in 2018, our Mexican operations are performing steadily, with production in line with annual guidance, and we are continuing to make progress on the technical evaluation of the Coricancha Mine in Peru."

Looking ahead, the miner reiterated its 2018 production guidance of between 4mln and 4.1mln of silver equivalent ounces.

There was also no change to 2018 guidance for cash cost per silver ounce (cash cost) and all-in sustaining cost per payable silver ounce (AISC) of between US$5.00 to US$6.50 and US$12.50 to US$14.50, respectively.

"The focus for 2018 continues to be on maintaining steady and efficient operations in Mexico, while advancing the company's Coricancha Mine in Peru to set a platform for production growth in 2019 and 2020," added Great Panther.

It noted that while still being assessed, based upon historic production records, Coricancha had the potential to add 3mln silver equivalent ounces of annual production. 

"In addition, the company continues to seek and evaluate additional acquisition opportunities to meet the company's growth objectives," it added.

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Tue, 10 Apr 2018 09:23:00 -0400 https://www.proactiveinvestors.com/companies/news/194642/great-panther-silver-sees-significantly-improved-production-at-mexico-mines-in-first-quarter-194642.html
<![CDATA[News - Great Panther Silver embarking on new phase of expansion and growth, supported by solid suite of Mexican assets ]]> https://www.proactiveinvestors.com/companies/news/192263/great-panther-silver-embarking-on-new-phase-of-expansion-and-growth-supported-by-solid-suite-of-mexican-assets-192263.html Expect plenty of action from Great Panther Silver (TSE:GPR) in the coming months.

New chief executive James Bannantine is now beginning to get his feet under the desk, and used to the idea that he has a company with two producing mines, one potential mine, and enough cash in the bank to buy at least one more project outright, before the option of issuing paper has even crossed anyone’s mind.

READ: Great Panther Silver says it delivered on all production targets and made significant investments in 2017

Indeed, it’s an enviable position.

Great Panther’s Guanajuato and Topia mines in Mexico both have long-established track records of production. In the most recent set of financials, for the year to 31 Dec 2017, they accounted for US$64mln of revenue and mine operating earnings before non-cash items of US$22mln.

All-in sustaining costs are running at US$14.72 per ounce of silver equivalent, allowing for decent enough margin at today’s prevailing silver price of well over US$16.00, and quarter-on-quarter costs are on a downward trajectory.

But as he sits down to begin a short presentation to a select gathering of interested fund managers in London, Bannantine’s opening remarks set the tone for what is to follow.

“I think Great Panther should be bigger,” he says.

“That’s why I’m here. We have positive net income and positive cashflow as a foundation, and there’s value in the existing operations with nothing new added.”

But an addition has already been lined up. Last year, Great Panther finalised the acquisition of the previously-worked Coricancha project in Peru, and putting this into production will be one of Bannantine’s key priorities.

The potential returns are significant. Great Panther picked this project up from Nyrstar for US$100,000, securing as part of the transaction a closure bond from Nyrstar to cover any potential environmental costs if the project doesn’t go ahead.

“We’re optimistic on the potential of this mine,” says Bannantine. “The key is to generate enough ore feed to the plant. Our plan is to expand the number of working faces on the mine.”

It’s an operation that will require considerable skill.

“It’s a 60cm vein,” explains Bannantine. “So it’s very narrow. It needs to be mined carefully. But we have a definite plan for that in a design that will be published in April or May in an updated feasibility study.”

Overall, the idea is that Coricancha will add around 3mln ounces of silver production to the existing 4mln ounces that comes out of Guanajuato and Topia per year.

It will be a significant forward bound, but don’t expect the growth to stop there.

Great Panther is currently sitting on a cash pile of around US$60mln, with no debt spike the strength of that firepower.

“We intend to use this money to acquire another project,” says Bannantine.

READ: Great Panther Silver unveils near doubling of estimate of mineral resources at Guanajuato

Precisely when or where isn’t yet clear, but the preferred locations for any target are Mexico, Peru, Brazil and Colombia, in that order. The ideal project would either be silver or gold, and would be in the later stages of development - “something that’s either operating or needs fixing,” says Bannantine.

Interest in such a deal when it’s finally put together is likely to be significant. There’s a general consensus that the mining markets are now on the turn, although Bannantine, as a former private equity fund manager himself, notes that there has been no general switch into mining quite yet.

If it’s underway by the time Great Panther inks its deal, then there could be significant potential for a real boost to the share price.

And that’s not the only upside. More immediate perhaps is the potential benefit from improved metals prices. Gold and silver have already both demonstrated a propensity to new strength this year, and if the dollar stays weak and metals prices soar, the read-across to Great Panther will be significant.

“In silver,” explains Bannantine, “if the price goes up 20%, your stock price can go up by 80% because margin goes up by 80%.”

That’s the benefit of a fixed-cost base, and the proof can be found straightforwardly enough in Great Panther’s own share price, which rose significantly at the beginning of 2016, when silver took its first run towards US$20.00 in a couple of years.

This is a company with strength in depth, and a bright future ahead of it.

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Tue, 27 Feb 2018 07:03:00 -0500 https://www.proactiveinvestors.com/companies/news/192263/great-panther-silver-embarking-on-new-phase-of-expansion-and-growth-supported-by-solid-suite-of-mexican-assets-192263.html
<![CDATA[News - Great Panther Silver says it delivered on all production targets and made significant investments in 2017 ]]> https://www.proactiveinvestors.com/companies/news/192135/great-panther-silver-says-it-delivered-on-all-production-targets-and-made-significant-investments-in-2017-192135.html Great Panther Silver Ltd’s (TSE:GPR) said it had delivered on its expected production targets and had made significant investments in 2017.

In a statement announcing its 2017 fiscal results, the company said it “delivered a modest increase in revenue” and posted record production at its Topia operations.

READ: Great Panther Silver unveils near doubling of estimate of mineral resources at Guanajuato

In addition, it also completed plant upgrades, installed a tailings handling facility at Topia and saw a significant increase in the Mineral Resource Estimate at the GMC, and completed the purchase of Coricancha.

Jim Bannantine, the President and CEO said that these activities were “were funded by our operating cash-flow as we improved our cash position” and kept its balance sheet debt-free.

In the year ended December 31, 2017, Great Panther Silver saw revenues rise 3% year-on-year to US$63.7mln from US$61.9mln, primarily due to the increase in production ounces (on a silver equivalent basis) and improved average realised metal prices.

Higher production costs however saw mine operating earnings before non-cash items of US$22.0mln fall by 21% from the year before.

The increased drilling activities at its operating mines in Mexico and ongoing costs to progress the Coricancha project in Peru also resulted in an increase in exploration and evaluation expenditures in 2017.

The company recorded a net income of US$1.3mln in 2017, against a net loss of US$4.1mln in 2016.

Focus in 2018

For 2018, the company expects production to be in the range of 4.0 to 4.1mln Ag eq oz (at a 70:1 silver to gold ratio).

The company said the focus in 2018 will be to maintain steady and efficient operations in Mexico, while advancing the Coricancha Mine to set a platform for production growth in 2019 and 2020.

READ: Great Panther reports record silver equivalent ounces from Topia mine last year

It believes, based on historic production records, the mine has the potential to add 3 million Ag eq oz of annual production.

The Company is conducting evaluations of the mine and processing infrastructure and undertaking certain environmental studies. Remediation activities are also being conducted.

Depending on the outcome of the evaluations, investments in support of a restart of mine development could commence in 2018.

The Company plans to release additional technical studies for the project in the second quarter of 2018.

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Fri, 23 Feb 2018 11:23:00 -0500 https://www.proactiveinvestors.com/companies/news/192135/great-panther-silver-says-it-delivered-on-all-production-targets-and-made-significant-investments-in-2017-192135.html
<![CDATA[News - Great Panther Silver establishes safety award in honour of director ]]> https://www.proactiveinvestors.com/companies/news/192083/great-panther-silver-establishes-safety-award-in-honour-of-director-192083.html Great Panther Silver Ltd (TSE:GPR) said director Kenneth W. Major passed away on February 21.

A graduate of McGill University, he enjoyed a highly successful career in the mining industry spanning more than 40 years.

He provided engineering, operations and management services to major mining companies including Newmont Mining, Goldcorp, and Agnico-Eagle.

He was a founder/partner of Rescan Engineering Ltd, which provides feasibility study and  engineering services, which was later acquired by Hatch.

In his honour, Great Panther has established the Kenneth W. Major safety award to recognise employees each year who exemplify Ken's value of safety in the workplace.

"Ken was a dedicated member of the board, strong proponent of safety, and a dear friend and colleague," said R.W. (Bob) Garnett, Great Panther's chairman.

"Ken leaves behind many grateful colleagues and good friends in the mining industry and his positive and endearing character will be greatly missed.

"The entire board of directors and management of Great Panther are indebted to Ken for his significant contributions to the Company and wish to offer our heartfelt condolences to his wife Roberta, his children and extended family."

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Thu, 22 Feb 2018 15:41:00 -0500 https://www.proactiveinvestors.com/companies/news/192083/great-panther-silver-establishes-safety-award-in-honour-of-director-192083.html
<![CDATA[News - Great Panther Silver unveils near doubling of estimate of mineral resources at Guanajuato ]]> https://www.proactiveinvestors.com/companies/news/190699/great-panther-silver-unveils-near-doubling-of-estimate-of-mineral-resources-at-guanajuato-190699.html Great Panther Silver Ltd (TSE:GPR) announced an updated mineral resources estimate for its Guanajuato mine complex (GMC) in Mexico.

Estimated measured and indicated mineral resources at the GMC increased 91% from the previous estimate back in February of 2016 to 13.62mln silver equivalent ounces (Ag eq oz) due to increases in both resource categories at both the San Ignacio and Guanajuato mines. 

Estimated measured mineral resources doubled to 11.11mln Ag eq oz, with the San Ignacio mine increasing by 121% to 9.28mln Ag eq oz and the Guanajuato mine increasing by 33% to 1.83mln Ag eq oz. 

Estimated indicated mineral resources at the GMC increased 58% to 2.51mln Ag eq oz (San Ignacio: +69% to 2.08mln Ag eq oz ; Guanajuato: + 22% to 428,190 Ag eq oz). 

Estimated inferred mineral resources at the GMC remain ore or less the same at 7mln Ag eq oz. 

The current mineral resource update includes 54 additional underground drill holes (10,251 metres) at the Guanajuato mine and 41 additional underground drill holes (7,860 metres) at the San Ignacio mine drilled after the August 31, 2016 mineral resource update, Great Panther said.

"We are excited to announce an almost doubling of the estimated measured and indicated mineral resource at the GMC to over 13 million silver equivalent ounces," stated James Bannantine, the president and chief executive officer of Great Panther.

"This is a strong testament to our ability to continue to develop new mineral resources at the GMC and expand its potential. In this regard, we have over 24,000 metres of drilling planned for the GMC in 2018, which we believe will continue to add to the mineral resource inventory," he added.

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Thu, 25 Jan 2018 16:52:00 -0500 https://www.proactiveinvestors.com/companies/news/190699/great-panther-silver-unveils-near-doubling-of-estimate-of-mineral-resources-at-guanajuato-190699.html
<![CDATA[News - Great Panther reports record silver equivalent ounces from Topia mine last year ]]> https://www.proactiveinvestors.com/companies/news/189908/great-panther-reports-record-silver-equivalent-ounces-from-topia-mine-last-year-189908.html Great Panther Silver Ltd's (TSE:GPR) Topia mine in Mexico achieved a record silver equivalent output in 2017, the firm said, adding the the focus for this year will be to maintain steady and efficient operations.

The firm operates the Topia mine in Durango and the Guanajuato mine complex (GMC), which includes the San Ignacio mine, in Mexico.

Output at Topia was 1,086,663 of silver equivalent ounces last year - 21% higher than in 2016.

Consolidated metal production increased 2% in the year to around 3.98mln ounces, with gold production up 1% and silver down 3%.

Up 21% in fourth quarter..

Metal production in  the fourth quarter was up 21% versus the same period in 2016, while  silver and gold output was up 12% and 14% respectively.

"Great Panther's 2017 production was consistent with the previous year, however, this was a considerable achievement given the work completed to accommodate the tailings expansion and plant improvements at the Topia mine in the first quarter of the year," said James Bannantine, president and chief executive.

"We are also pleased with the recent completion of the permitting process for the phase II tailings-storage facility at Topia.

"While the regulatory process took longer than we expected, our team did an outstanding job of maintaining operations by extending capacity while improving the state of the existing facility."

Looking ahead to 2018 output..

Looking ahead to 2018, the miner expects production to come in at 4mln to 4.1mln ounces of silver equivalent.

The all-in sustaining cost per payable silver ounce guidance for 2018 is US$12.50 to US$14.50 respectively, though the firm warned this was sensitive to the Mexican peso foreign exchange rate and metal prices.

"The focus for 2018 will be to maintain steady and efficient operations in Mexico, while advancing the company's Coricancha mine in Peru to set a platform for production growth in 2019 and 2020.

"While still in the early stage of evaluation, based upon historic production records, Coricancha has the potential to add three million Ag eq oz of annual production," Great Panther said.

The firm expects to release an updated NI 43 -101 resource estimate for the GMC later this month.

Great Panther shares in Toronto nudged 0.59% higher at C$1.71 each.

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Thu, 11 Jan 2018 14:37:00 -0500 https://www.proactiveinvestors.com/companies/news/189908/great-panther-reports-record-silver-equivalent-ounces-from-topia-mine-last-year-189908.html
<![CDATA[News - Great Panther Silver's new resource estimate for Coricancha underscores project's potential ]]> https://www.proactiveinvestors.com/companies/news/189109/great-panther-silver-s-new-resource-estimate-for-coricancha-underscores-project-s-potential-189109.html Great Panther Silver Ltd's (TSE:GPR) plan to add an operations base in Peru moved a step closer - as it unveiled a new resource estimate for its Coricancha mine project.

The total in the higher confidence measured and indicated resource category was 24.2mln silver equivalent ounces from over 752,000 tonnes of material.

READ - Great Panther Silver gets green-light for new Topia tailings facility READ - Great Panther Silver on track for production guidance for full year after third quarter numbers

In the inferred category,  silver equivalent ounces came in at 28.36mln from over 943,000 tonnes.

This compared to 21.96mln measured and indicated silver equivalent ounces from 890,000 tonnes in 2012, and 124.6mln ounces from around 4.8mlmn tonnes in the inferred category.

"The measured and indicated tonnes and grades in this mineral resource estimate compare well with those from the historical resource estimate of 2012, providing a high degree of confidence in the results," said Great Panther.

"The tonnes in the inferred category are now lower due to the different search parameters used but it may be possible to replace these tonnages with additional drilling."

James Bannantine, Great Panther's president and chief executive, added: "This resource update confirms the potential in the Coricancha mine area and allows the company to initiate additional engineering studies required to support a positive production decision.

"We are all very excited about the prospects for the Coricancha mine and look forward to taking the next step in Great Panther's growth strategy by adding a base of operations in Peru."

The company is now completing optimization studies and is mulling alternative mining methods to reduce costs and project risk.

The company plans to release additional technical studies for the project in the second quarter of 2018.

Great Panther has two wholly owned operating mines in Mexico - the Guanajuato mine complex and the Topia mine in Durango.

It is assessing the restart at Coricancha  in Peru, which it acquired earlier in 2017.

The Coricancha mine complex (CMC), on care and maintenance since 2013, is a fully permitted polymetallic mine that includes an operational 600-tonne-per-day flotation and gold bio-leach plant along with supporting infrastructure.

Great Panther Silver shares gained 7.74% in Toronto to C$1.67 each.

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Wed, 20 Dec 2017 10:03:00 -0500 https://www.proactiveinvestors.com/companies/news/189109/great-panther-silver-s-new-resource-estimate-for-coricancha-underscores-project-s-potential-189109.html
<![CDATA[News - Great Panther Silver gets green-light for new Topia tailings facility ]]> https://www.proactiveinvestors.com/companies/news/188968/great-panther-silver-gets-green-light-for-new-topia-tailings-facility-188968.html Great Panther Silver Ltd's (TSE:GPR) Topia mine in Mexico received a boost - as the relevant environmental authority had granted all permits for a new tailings storage facility.

SEMARNAT has granted all permits for the construction and operation of the new Phase II tailings storage facility (TSF) at the mine in Durango state.

"We are pleased with the conclusion of the permitting process without interruption of operations at Topia", said James Bannantine, the president and chief executive.

"We will be commencing imminently the construction of Phase II and have sufficient remaining capacity at Phase I to continue mining operations allowing a seamless transition to deposition at Phase II," he added.

Great Panther's has two wholly-owned operating mines in Mexico -  the Guanajuato Mine Complex and the Topia Mine in Durango.

It is also assessing the restart of the Coricancha Mine in Peru, which it acquired earlier this year; and continues to pursue the acquisition of additional mining operations or projects in the Americas.

Shares in  Toronto eased 1.29% to C$1.53.

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Mon, 18 Dec 2017 12:01:00 -0500 https://www.proactiveinvestors.com/companies/news/188968/great-panther-silver-gets-green-light-for-new-topia-tailings-facility-188968.html
<![CDATA[News - Great Panther Silver on track for production guidance for full year after third quarter numbers ]]> https://www.proactiveinvestors.com/companies/news/186518/great-panther-silver-on-track-for-production-guidance-for-full-year-after-third-quarter-numbers-186518.html Great Panther Silver Ltd (TSE:GPR) revealed revenues increased 17% to US$18.3mln in its third quarter compared to the same period last year, and that its Mexico operations had delivered production in line with its full year guidance.

The firm mines precious metals from its two wholly-owned projects in Mexico: the Guanajuato Mine Complex and the Topia Mine in Durango.

READ - Great Panther Silver third quarter production output rises, maintains 2017 guidance

It is also bidding to restart development of the Coricancha Mine in Peru.

The group posted, however, a loss for the three months to end September, despite the rise in revenues, at US$0.7mln, compared to a net income of US$2.1mln for the same period last year.

This was mainly down to a US$1.2 million increase in exploration, evaluation and development (EE&D ) expenditures reflecting the first full quarter of the Coricancha project and its care and maintenance costs since the closing of the acquisition on June 30 this year, Great Panther said.

Also, mine operating earnings before non-cash items from the Mexican operations were lower than the third quarter last year due to a less favorable Mexican peso to US dollar foreign exchange rate, and higher unit production cost.

"The third quarter was a very successful and eventful quarter for Great Panther," said  Jim Bannantine,  the group's president and chief executive.

"Our Mexican operations delivered production in support of our guidance for the year and continued to advance the permitting of the new tailings facility at Topia.

"After closing the acquisition of Coricancha just before the start of the third quarter, we quickly turned our attention to advancing a resource update and on engineering and environmental studies, and other evaluations in support of a decision to restart mine development. I am pleased that we continue to maintain a strong balance sheet with $55 million of cash and deposits, no debt and strong liquidity of our shares.

"These factors along with a solid management team put us in a good position to pursue acquisitions," he added.

Gold production  in the three months increased 8% to 5,848 ounces, while silver output added 4% to 532,803 ounces.

AISC (all-in-sustaining costs) increased 15% to US$13.75 an ounce, while the cash cost increased to US$5.82 from US$3.30 per ounce.

The firm had cash of US$55.5mln as at September 30 versus US$56.7mln at the end of 2016.

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Tue, 31 Oct 2017 12:49:00 -0400 https://www.proactiveinvestors.com/companies/news/186518/great-panther-silver-on-track-for-production-guidance-for-full-year-after-third-quarter-numbers-186518.html
<![CDATA[News - Great Panther Silver third quarter production output rises, maintains 2017 guidance ]]> https://www.proactiveinvestors.com/companies/news/185532/great-panther-silver-third-quarter-production-output-rises-maintains-2017-guidance-185532.html Great Panther Silver Inc (TSE:GPR) released its third quarter production results for its two wholly owned Mexican silver mining operations which saw increased output in silver, gold, lead and zinc.

In a statement, the company said consolidated metal production rose 13% to 1,080,483 silver equivalent ounces (Aq eq oz) from its Topia mine in Durango and the Guanajuato mine complex (GMC), which includes the San Ignacio mine.

READ: Coricancha project adds 'blue sky' to Great Panther Silver story, says Lundin

The output was as follows:

Silver production increased 4% to 532,803 silver ounces ("Ag oz") Gold production increased 8% to 5,848 gold ounces ("Au oz") Lead and zinc production increased 78% and 74%, respectively Ore processed decreased 1%, with 94,080 tonnes milled

James Bannantine, the company’s president and CEO said: "The results are consistent with the previous quarter and fall in line with the Company's annual guidance."

READ: Great Panther Silver bolsters senior team with Wunder and Peer

He attributed the increase in gold production compared ot the second quarter to “a direct result of the improved gold grades and recoveries."

Despite the increased output, the company is sticking to its 2017 guidance of 4.0 - 4.1 mln Ag eq oz (based on a 70:1 silver:gold ratio).

Topia Phase II tailings facility

The silver mining company also said that it is still awaiting final approvals for the Topia Phase II tailings facility. Since its formal application in July, the environmental assessment study has lapsed and requires resubmission with the inclusion of expanded technical information.

It plans to file this by mid-October and a response to the resubmitted study and the overall permitting is expected within two months of filing.

WATCH: Great Panther Silver's processing deal a 'win-win', says CEO Robert Archer

The Company is also currently working on an updated Mineral Resource Estimate for the recently acquired Coricancha Mine Complex ("CMC") in Peru, which is on care and maintenance.

The updated Mineral Resource Estimate is now expected to be completed in the current quarter.

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Thu, 12 Oct 2017 12:13:00 -0400 https://www.proactiveinvestors.com/companies/news/185532/great-panther-silver-third-quarter-production-output-rises-maintains-2017-guidance-185532.html
<![CDATA[News - Coricancha project adds 'blue sky' to Great Panther Silver story, says Lundin ]]> https://www.proactiveinvestors.com/companies/news/184688/coricancha-project-adds-blue-sky-to-great-panther-silver-story-says-lundin-184688.html Brien Lundin, editor of the Gold Newsletter, has taken another look at producer Great Panther Silver Ltd (TSE:GPR) and repeated a 'buy' stance.

The miner recently decided to expand beyond its core silver mining operations in Mexico by acquiring the past-producing Coricancha project in Peru, he notes.

The company previously had Coricancha under option from mid-2015 to mid-2016.

During then, the firm completed a 33-hole drill program, with highlight assays including 0.53 metres of 10.46 grams per tonne (g/t) gold, 388 g/t silver, 1.64% copper, 0.53% lead and 2.86% lead.

Lundin notes that these intersections are similar to those that Great Panther encountered at its Mexican assets, which, he notes, are currently operating on the "very edge of profitability", but will turn "lucrative" quickly once silver prices go north.

Coricancha adds "a substantial amount of blue sky" in the meantime, he adds.

Earlier this month, Great Panther reassured shareholders that the mine in question -  Coricancha - suffered no damage from a recent earthquake.

There was an earthquake in the central region of Peru with a magnitude of 4.6, as reported by the US Geological Survey, but happily, after inspecting the mines, tailing facilities and processing plant, there appears to be no damage.

The CMC is currently on care and maintenance.

Great Panther shares closed yesterday in New York at US$1.24 each.

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Wed, 27 Sep 2017 09:05:00 -0400 https://www.proactiveinvestors.com/companies/news/184688/coricancha-project-adds-blue-sky-to-great-panther-silver-story-says-lundin-184688.html
<![CDATA[News - Great Panther Silver says Coricancha mine undamaged by recent earthquake in central Peru ]]> https://www.proactiveinvestors.com/companies/news/184087/great-panther-silver-says-coricancha-mine-undamaged-by-recent-earthquake-in-central-peru-184087.html Great Panther Silver Ltd (TSE:GPR) reassured shareholders its Coricancha mine complex suffered no damage from a recent earthquake.

There was an earthquake in the central region of Peru with a magnitude of 4.6, as reported by the US Geological Survey, but happily, after inspecting the mines, tailing facilities and processing plant, there appears to be no damage.

In addition, all employees and consultants of the company at Coricancha (CMC) were reported to be safe.

The CMC is currently on care and maintenance.

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Fri, 15 Sep 2017 09:58:00 -0400 https://www.proactiveinvestors.com/companies/news/184087/great-panther-silver-says-coricancha-mine-undamaged-by-recent-earthquake-in-central-peru-184087.html
<![CDATA[News - Great Panther Silver bolsters senior team with Wunder and Peer ]]> https://www.proactiveinvestors.com/companies/news/182487/great-panther-silver-bolsters-senior-team-with-wunder-and-peer-182487.html Great Panther Silver Ltd (TSE:GPR) has beefed up its management with the appointment of two experienced mining industry executives.

Matthew Wunder has been hired as vice-president of exploration and has started already. Brian Peer will become vice-president of operations in Mexico from August 20.

A bright future....

"I am really pleased that Matt and Brian have joined us to round out the senior executive team," said Robert Archer, president and chief executive.

"I am confident that, under the new leadership of incoming president and CEO Jim Bannantine, Great Panther has a bright future."

Wunder has 30 years' experience in the mining industry, including 15 years with Noranda Inc.

He has successfully led multiple discoveries throughout the Americas and was recognized and honoured as co-recipient of the Colin Spence award for excellence in global mineral exploration.

Over the coming weeks, he will become the qualified person (QP) for Great Panther's operating mines and development projects, succeeding Robert Brown, who has retired.

Meanwhile, Peer has more than 30 years' mining experience, including 19 years in senior management.

His CV includes, Red Eagle Mining, Alamos Gold, Coeur Mining  and the major Barrick Gold for 10 years.  He has a bachelor of science degree in geology and is fluent in Spanish.

Coricancha results augur well..

Yesterday, Great Panther unveiled results from its Coricancha gold-silver-lead-zinc-copper project in the central Andes of Peru, which underscored the site's potential to be a mine.

The exploration consisted of 33 diamond drill holes in 2015 and 2016 and was conducted before the option was originally terminated before being renegotiated and finally closed this year.

The Coricancha mine complex (CMC), on care and maintenance since 2013, is a fully permitted polymetallic mine that includes an operational 600-tonne-per-day flotation and gold bio-leach plant along with supporting infrastructure.

An updated resource estimate is under way, incorporating all previous drilling and results from all underground sampling by previous owners.

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Tue, 15 Aug 2017 12:10:00 -0400 https://www.proactiveinvestors.com/companies/news/182487/great-panther-silver-bolsters-senior-team-with-wunder-and-peer-182487.html
<![CDATA[News - Great Panther Silver encouraged by Coricancha exploration drill results ]]> https://www.proactiveinvestors.com/companies/news/182412/great-panther-silver-encouraged-by-coricancha-exploration-drill-results-182412.html Drilling results from the Coricancha gold-silver-lead-zinc-copper project in the central Andes of Peru underscored the site's mine potential, says Great Panther Silver Ltd (TSE:GPR).

The exploration consisted of 33 diamond drill holes in 2015 and 2016 and was conducted before the option was originally terminated before being renegotiated and finally closed this year.

WATCH - Great Panther Silver's processing deal a 'win-win', says CEO Robert Archer READ - Great Panther strikes Coricancha processing deal; reports second quarter results

Three main veins were targeted -  Wellington, Constancia and Colquipallana -  and there was one new target  - the Animas vein.

Highlights include Wellington hole Cori-15-003, which hit 10.46 grams per tonne gold, 388 g/t silver, 1.64% copper, 0.53% lead and 2.86% zinc over a true width of 0.53 metres.

Meanwhile, Constancia hole Cori-15-13 intersected 22.64 g/t (grams per ton) gold, 83 g/t (grams per ton) silver, 0.19% copper, 1.12% lead and 2.30% zinc over a true width of 0.41 metres.

Only two holes were drilled on the Animas vein, believed to be the first holes ever on this target, and returned 3.64 g/t gold and 417 g/t silver over 0.41 metre and 1.50 g/t gold and 107 g/t silver over 1.20 metres, with minor base metals.

"The initial drilling results at Coricancha demonstrate the potential to extend known zones of high-grade mineralization," said Robert Archer,  the president and chief executive.

"The high gold and silver grades, good continuity, and significant exploration upside all underscore our optimism that Coricancha has the potential to be a new mine for the company.

"While the veins pinch and swell, we have extensive experience in mining narrow widths at our Topia mine in Mexico.

"Since closing the acquisition at the end of June, we have embarked on a comprehensive program of technical studies with the objective of returning the mine to production."

The Coricancha mine complex (CMC), on care and maintenance since 2013, is a fully permitted polymetallic mine that includes an operational 600-tonne-per-day flotation and gold bio-leach plant along with supporting infrastructure.

An updated resource estimate is under way, incorporating all previous drilling and results from all underground sampling by previous owners.

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Mon, 14 Aug 2017 14:14:00 -0400 https://www.proactiveinvestors.com/companies/news/182412/great-panther-silver-encouraged-by-coricancha-exploration-drill-results-182412.html
<![CDATA[Media files - Great Panther Silver's processing deal a 'win-win', says CEO Robert Archer ]]> https://www.proactiveinvestors.com/companies/stocktube/7917/great-panther-silver-s-processing-deal-a-win-win-says-ceo-robert-archer-7917.html Thu, 10 Aug 2017 16:23:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/7917/great-panther-silver-s-processing-deal-a-win-win-says-ceo-robert-archer-7917.html <![CDATA[News - Great Panther strikes Coricancha processing deal; reports second quarter results ]]> https://www.proactiveinvestors.com/companies/news/181949/great-panther-strikes-coricancha-processing-deal-reports-second-quarter-results-181949.html Great Panther Silver Ltd (TSE:GPR) has made further progress in Peru - striking a deal with  Pan Andean Minerals to process ore at its (Great Panther's) Coricancha mill.

The Coricancha facilities, currently on care and maintenance, are about 15km from Pan Andean's Pucacorral and Chanape assets, and have previously seen output of concentrates containing silver, gold, zinc, copper and lead.

"We look forward to working with Great Panther and desire to make this relationship a win-win for both parties," said Gary Anderson, Pan Andean's chief executive.

Earlier this year, Great Panther closed its acquisition of the Coricancha gold-silver-lead-zinc-copper underground mine and mill complex (CMC), which lies around 90 km east of the city of Lima.

Resource update expected...

A resource update is expected to be completed in the third quarter of 2017.

Today's non-binding processing deal is dependent on Great Panther completing its prefeasibility study for Coricancha and having excess milling capacity for treating Pan Andean mineralized rock.

Record output for second quarter..

Yesterday, Great Panther posted is second quarter financials, which showed record production now its Topia Mine in Durango, Mexico, is running at full tilt.

Silver equivalent ounces for the three months came in at over 1.102mln versus 1.037mln in the same period of 2016.

Silver production from the group's two operating mines increased 6% to 569,229 ounces, while gold output fell 8% to 5,543 ounces, and the cash cost per silver equivalent ounce increased 19% to $11.47. AISC (all in sustaining costs) increased 108% to $14.93.

It all led to a net income of $833,000 against a loss of $1.3mln in the same period a year ago, on revenue, which was at $15.7mln, down 20% from the $19.5mln seen in the same period of 2016.

Chief executive Robert Archer summed it up: "I am pleased to report net income for the three and six-month periods ended June 30, 2017 of $0.8 million and $3.9 million, respectively, reflecting improvements from losses in the comparative periods.

"Great Panther was also able to deliver a record quarter of production with the Topia Mine now operating at planned capacity.

Coricancha a new growth opportunity..

"Additionally, with the recent closing of the acquisition of the Coricancha Mine Complex in Peru, the company embarks on a significant new opportunity for growth.

"Over the next few months we will be focusing on advancing a resource update, engineering studies, and underground development in support of additional drilling at Coricancha.

"We also continue to focus on additional growth and M&A opportunities, given our strong balance sheet with $57 million in cash and short-term deposits, and no long-term debt."

Yesterday, the miner revealed that Jim Bannantine will take up the role of chief executive on August 16 to succeed Robert Archer, who is stepping down, but who will remain on the board.

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Thu, 03 Aug 2017 12:20:00 -0400 https://www.proactiveinvestors.com/companies/news/181949/great-panther-strikes-coricancha-processing-deal-reports-second-quarter-results-181949.html
<![CDATA[News - Great Panther Silver names Jim Bannantine to succeed Robert Archer ]]> https://www.proactiveinvestors.com/companies/news/181866/great-panther-silver-names-jim-bannantine-to-succeed-robert-archer-181866.html Great Panther Silver Ltd (TSE:GPR) has found a new chief executive to succeed Robert Archer in the shape of experienced executive Jim Bannantine.

Archer announced his intention to step down in April this year. He will remain on the board.

READ - Great Panther's shares rise after it resubmits Topia permit application READ - Great Panther enjoys record quarter of consolidated metals production

"I have chosen this as the appropriate time to transition to a new CEO who can take Great Panther to the next level over a 5-7 year time horizon and I am really pleased to be able to pass the torch to someone of Jim's caliber," he said on Wednesday.

"This is a testament to the reputation we have built, the quality of our team and assets, the strength of our balance sheet and our growth potential."

Former US Army engineer Bannantine, who will take up the new role on August 16,  was most recently  President and CEO of Aura Minerals Inc (TSX: ORA).

This is a $200 million revenue gold and copper miner, and where he led a restructuring effort to significantly reduce both operating and G&A costs, while maintaining or increasing production.

He also held several positions over multiple years at Enron Corp, culminating as chief executive of Enron South America -  a $1.5bn revenue, 4,500 person roll up of energy assets.

He was also president and chief operating officer of Broadwing Corporation (NASDAQ: BWNG), an $880 million revenue, 1,700 person telecom rollup, turnaround and sale.

"Jim brings a record of exceptional leadership, growing companies and deep experience in Latin America," said Bob Garnett, Board Chair of Great Panther.

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Wed, 02 Aug 2017 10:13:00 -0400 https://www.proactiveinvestors.com/companies/news/181866/great-panther-silver-names-jim-bannantine-to-succeed-robert-archer-181866.html
<![CDATA[News - Great Panther's shares rise after it resubmits Topia permit application ]]> https://www.proactiveinvestors.com/companies/news/181656/great-panther-s-shares-rise-after-it-resubmits-topia-permit-application-181656.html Great Panther Silver Ltd (TSE:GPR) shares hardened after the company revealed it has resubmitted the permit application for the tailings storage facility at its Topia Mine.

The mid-tier producer said that, to the best of its knowledge, it has fulfilled the outstanding condition required by Semarnat (the Mexican environmental permitting agency) in connection with the phase 2 tailings storage facility (TSF) at its Topia mine.

The company reckons it should receive a response from Semarnat within 60 business days.

READ Great Panther Silver at full pelt after commissioning refurbished processing plant at Topia

"We are pleased with the progress on the permitting process at Topia and we will continue working closely with the Mexican authorities to obtain this permit in a timely manner", said Robert Archer, president & chief executive officer of Great Panther.

"During the response period, we plan to continue normal operations at Topia using the existing Phase I TSF."

The company believes that it will be able to obtain this permit without interruption of operations, but it is, of course, subject to events beyond its control.

Great Panther shares were up 0.6% at C$1.58 in early deals on Friday.

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Fri, 28 Jul 2017 10:57:00 -0400 https://www.proactiveinvestors.com/companies/news/181656/great-panther-s-shares-rise-after-it-resubmits-topia-permit-application-181656.html
<![CDATA[News - Great Panther enjoys record quarter of consolidated metals production ]]> https://www.proactiveinvestors.com/companies/news/180927/great-panther-enjoys-record-quarter-of-consolidated-metals-production-180927.html Great Panther Silver Ltd’s (TSE:GPR, NYSEMKT:GPL) stock was higher after the metals producer hailed record levels of production in the second quarter.

Consolidated metal production rose 6% year-on-year to a record 1.10mln silver equivalent ounces.

Silver produced also rose 6%, to 569,229 ounces from 536,726 the year before, but gold production eased 8% to 5,543 ounces from 6,010.

Lead production rose 40% to 405 tonnes from 290 tonnes the previous year while zinc production was 47% higher at 638 tonnes compared to the previous year’s 433 tonnes.

Ore processed eased a little to 98,576 tonnes milled from 99,905 tonnes the previous year.

At the Guanajuato mine complex, metal production at the GMC was 8% lower at 715,423 silver ounces equivalent (Ag eq oz)  when compared to the same quarter in the previous year.

The decrease was attributed to lower tonnes milled from San Ignacio, combined with lower overall grades, mainly reflecting variability in the mineral resource.

 Additional exploration drilling and development is being undertaken to improve the resource definition in these areas, the company revealed.

At the Topia mine, milling operations returned to design capacity in the second quarter, following the commissioning of the new tailings handling facility and the upgraded processing plant.

The operation is now producing exclusively dry tailings through the new filtration plant. All tailings are being deposited on the Phase I Tailings Storage Facility while the company continues its efforts to obtain the Phase II permit from SEMARNAT (the Mexican environmental permitting agency).

The mine achieved a record level of metal production of 386, 867 Ag eq oz, up 47% year-on-year.

This was attributed to a combination of higher tonnes milled, higher grades of feed material and improved recoveries.

The increase in tonnes milled reflects maximization of the plant capacity by processing a controlled blend of run-of-mine production and ore stockpiled during the scheduled plant shut-down.

The improved metallurgical recoveries were attributed to improved control over the mill feed and head grade, coupled with the recent plant upgrades, while the increase in grades was due to a greater focus on selective mining, dilution control and ore sorting.

Great Panther stuck with its previous production guidance for 2017, as it believes it will be able to obtain a permit for the Phase II tailings facility at Topia without interruption of operations; however, it did advise the deposition of dry tailings on the Phase I tailing storage facility cannot continue forever so the company cannot provide complete assurance that a disruption can be avoided.

Discussions to date with the authorities and other stakeholders have been positive and are continuing.

"Great Panther had an excellent second quarter, setting a new company record for consolidated metal production and a new record for metal production in Topia," stated Robert Archer, president & chief executive officer of Great Panther.

The market agreed, pushing the price up 2.9% to US$1.24 on Friday morning.

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Fri, 14 Jul 2017 12:22:00 -0400 https://www.proactiveinvestors.com/companies/news/180927/great-panther-enjoys-record-quarter-of-consolidated-metals-production-180927.html
<![CDATA[News - Great Panther Silver set to build a foundation in Peru as it closes Coricancha acquisition ]]> https://www.proactiveinvestors.com/companies/news/180233/great-panther-silver-set-to-build-a-foundation-in-peru-as-it-closes-coricancha-acquisition-180233.html Great Panther Silver Ltd (TSE:GPR, NYSEMKT:GPL) has realised its quest to build a foundation in Peru - as it has now closed its acquisition of the Coricancha gold-silver-lead-zinc-copper underground mine and mill complex (CMC).

As previously reported, the CMC lies in the central Andes of Peru, around 90 km east of the city of Lima.

A resource update is under way and is expected to be completed in the third quarter of 2017.

READ OUR BIG PIC - Bob Archer steps aside to allow new blood to take Great Panther Silver to the next level READ - Great Panther Silver encouraged by further mineralisation found at San Ignacio

Great Panther's Peruvian subsidiary acquired all of the shares of Nyrstar Coricancha S.A. from subsidiaries of Nyrstar. 

Under the terms of the final share purchase agreement, Great Panther will pay Nyrstar US$0.1mln, shortly following closing, and an earn-out consideration of up to US$10mln.

Under the earn-out, Nyrstar will be paid 15% of the free cash-flow generated by the CMC during the five years after which the CMC is cumulative free cash-flow positive.

"The acquisition of Coricancha represents a major milestone for Great Panther Silver, and the culmination of our search for the right asset to build a foundation in Peru," said Robert Archer, Great Panther's president and chief executive.

"The project has excellent potential to be a new mine for the company, and we are immediately ramping up our evaluation toward that goal."

Coricancha is a fully permitted polymetallic mine that includes an operational 600 tonne per day flotation and gold bio-leach plant along with supporting mining infrastructure. 

It comprises more than 3,700 hectares in the prolific Central Polymetallic Belt and production at the mine dates back to 1906.

Depending upon the outcome of the prefeasibility study ( PFS), a restart of operations could begin in 2018.

Significantly, Nyrstar has agreed to be responsible for the cost of reclamation work, and any associated fines, that Coricancha will undertake at the CMC, related to certain legacy tailings facilities, subject to agreed maximum amounts. 

In addition, Nyrstar will maintain the existing CMC mine closure bond for three years.

Shares added 1.22% to $1.66.

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Mon, 03 Jul 2017 09:31:00 -0400 https://www.proactiveinvestors.com/companies/news/180233/great-panther-silver-set-to-build-a-foundation-in-peru-as-it-closes-coricancha-acquisition-180233.html
<![CDATA[News - Great Panther Silver encouraged by further mineralisation found at San Ignacio ]]> https://www.proactiveinvestors.com/companies/news/179482/great-panther-silver-encouraged-by-further-mineralisation-found-at-san-ignacio-179482.html Great Panther Silver (TSE:GPR, NYSEMKT:GPL)  posted encouraging drill results, which show that strong  gold and silver mineralization continues along strike from the current mine workings at the San Ignacio mine.

The surface drilling program at the Guanajuato mine complex began in October last year and consisted of 32 holes for 7,464 metres.

READ - Great Panther Silver expects to close Coricancha mine deal in June READ - Bob Archer steps aside to allow new blood to take Great Panther Silver to the next level

The drilling, which is continuing, initially targeted the southeasterly strike extension of the Melladito vein, in particular, where it is hit by the Plateros vein trend.

The result of this intersection is a thickening of the veins, highlighted by one hole, which returned a combined estimated true width of 19.24 metres averaging 6.36 grams per tonne (g/t) gold and 261 g/t silver.

Other highlights were 4.65 metres of 4.81 g/t gold and 275 g/t silver in the Melladito vein and 14.59 metres of 6.86 g/t gold and 257 g/t silver in the Plateros vein.

Drilling has now changed focus to the Purisima vein, approximately 650 metres to the west of the current mine workings.

"We are encouraged by the continuation of mineralization to the southeast of our mine workings, with the Plateros vein locally exhibiting very high grades, particularly in gold," said Robert Archer,  Great Panther's president and chief executive.

"The results of our exploration drilling have given us sufficient confidence to commence drifting in that direction to further evaluate and delineate these zones from underground."

Shares eased around 3% in Toronto to $1.55.

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Mon, 19 Jun 2017 11:11:00 -0400 https://www.proactiveinvestors.com/companies/news/179482/great-panther-silver-encouraged-by-further-mineralisation-found-at-san-ignacio-179482.html
<![CDATA[News - Great Panther Silver expects to close Coricancha mine deal in June ]]> https://www.proactiveinvestors.com/companies/news/179264/great-panther-silver-expects-to-close-coricancha-mine-deal-in-june-179264.html Great Panther Silver (TSE:GPR, NYSEMKT:GPL) has moved closer to finalising the acquisition, under a share purchase agreement, of the Coricancha gold-silver-lead-zinc-copper mine and mill complex (the CMC) from Nyrstar NV, expecting it to close in June.

The CMC lies in the central Andes of Peru, around 90 km east of the city of Lima.

A resource update is under way and is expected to be completed in the third quarter of 2017, the firm noted.

Recently, Great Panther and Nyrstar struck an amended share purchase agreement to reflect the reorganization of Nyrstar's investments in Peru to allow for the planned  divestitures.

"The transaction is still subject to several customary closing conditions which the company and Nyrstar are aiming to complete before the end of June, 2017, or shortly thereafter," said Great Panther on Wednesday.

"Certain of these conditions depend on responses from third parties or authorities and therefore timing is subject to some uncertainty."

Once the deal is complete, Great Panther plans include further evaluations of the current mine and processing infrastructure, around 7,800 metres of underground drilling, environmental studies, and starting a preliminary feasibility study (PFS).

Depending upon the outcome of the PFS, development in support of operations could start in 2018.

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Wed, 14 Jun 2017 13:35:00 -0400 https://www.proactiveinvestors.com/companies/news/179264/great-panther-silver-expects-to-close-coricancha-mine-deal-in-june-179264.html
<![CDATA[News - Great Panther Silver at full pelt after commissioning refurbished processing plant at Topia ]]> https://www.proactiveinvestors.com/companies/news/178730/great-panther-silver-at-full-pelt-after-commissioning-refurbished-processing-plant-at-topia-178730.html Mexico-focused producer Great Panther Silver Ltd (TSE:GPR, NYSEMKT:GPL) has successfully commissioned the refurbished processing plant at its Topia mine in Durango.

The plant is now operating at planned capacity, the firm said.

Meanwhile, it is working on resolving an issue concerning a new tailings storage facility.

The Mexican environmental authority (SEMARNAT) has refused the request for the change in use of soils permit required for the phase II tailings storage facility until a certain condition is met.

Great Panther says discussions to date with the authorities and other interests have been positive and continue.

For now, the firm continues to deposit dry tailings at the existing phase I tailings storage facility.

Permitting requirement issues expected to be resolved within the next few weeks

"We are pleased with the operation of the plant and progress to date on the permitting front," Robert Archer, Great Panther's president and chief executive told investors.

"We have had extensive discussions with all stakeholders regarding the permitting requirements, and we are optimistic this will be favorably resolved in the coming weeks.

"We still expect to be able to process all of the ore stockpiled during the shutdown through the balance of 2017. Furthermore, the higher ore grades of the stockpiled ore put us in good position to meet our 2017 production guidance."

Run-of-mine ore is now being processed, along with that stockpiled.

Notably, due to the improved grade control at the mines, the silver grade of ore milled in the year to date, through the commissioning phase, has increased by around 18% compared to 2016.

Further production details will be provided in the quarterly update in early July, said Great Panther.

 

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Thu, 01 Jun 2017 12:19:00 -0400 https://www.proactiveinvestors.com/companies/news/178730/great-panther-silver-at-full-pelt-after-commissioning-refurbished-processing-plant-at-topia-178730.html
<![CDATA[News - Great Panther reports significant increase in net income on improved metal prices, favourable exchange rates ]]> https://www.proactiveinvestors.com/companies/news/177309/great-panther-reports-significant-increase-in-net-income-on-improved-metal-prices-favourable-exchange-rates-177309.html Great Panther Silver Ltd (TSE:GPR, NYSE:GPL) has reported a significant increase in first quarter net income as improved metal prices and favourable exchange rates offset the impact of lower production and sales volumes associated with a temporary suspension at its Topia milling operations in Durango, Mexico.

For the three months to March 31, the precious metals miner reported net income of US$3.0mln, compared to a net loss of $3.4mln in the same quarter of 2016, even though revenues declined to US$12.4mln from US$14.1mln a year earlier.

The results were boosted by a non-cash US$1.8mln foreign exchange gain, predominantly associated with Mexican peso forward contracts.

The group’s first quarter adjusted earnings per share was US$0.02.

READ: Great Panther Silver confident in hitting annual production guidance

Great Panther said its all-in sustaining cost per payable silver ounce (AISC) for the first quarter was US$19.55, higher than 2017 full-year guidance, as the company absorbed the impact of the capital expenditure and fixed overhead costs at Topia.

The group added that, with the Topia Project now largely completed, AISC is projected to decline over the balance of 2017, leading the company to expect to meet its 2017 guidance.

Net income growth “particularly notable”, says Great Panther boss

Robert Archer, Great Panther’s president and CEO said: "This is particularly notable given that we suspended processing at Topia to complete plant upgrades and prepare for the transition to a new tailings storage facility, and therefore only had nominal production from Topia during the quarter.

“The Topia upgrades were completed under budget and commissioning of the plant is expected to be complete by mid-May.”

He added: “Great Panther remains focused on capitalizing on growth opportunities and, as at the end of the first quarter of 2017, the Company had US$69.3mln in net working capital, including US$53.2mln in cash and short-term deposits, and no long-term debt."

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Thu, 04 May 2017 06:19:00 -0400 https://www.proactiveinvestors.com/companies/news/177309/great-panther-reports-significant-increase-in-net-income-on-improved-metal-prices-favourable-exchange-rates-177309.html
<![CDATA[News - Bob Archer steps aside to allow new blood to take Great Panther Silver to the next level ]]> https://www.proactiveinvestors.com/companies/news/177000/bob-archer-steps-aside-to-allow-new-blood-to-take-great-panther-silver-to-the-next-level-177000.html So, farewell Bob Archer. But not goodbye.

Bob Archer, one of the founding directors of Great Panther Silver Limited (TSE:GPR), announced recently that he will be stepping down from his long-held position as chief executive officer.

Archer will take up a new role as non-executive director as soon as a new chief executive has been appointed.

More than 35 years' experience..

Archer has more than 35 years’ experience working for mining companies in North America, so there’s no doubt he’s served his time. But neither is he quite of retirement age yet, although a serious commitment to viticulture will undoubtedly keep him busy when full-blown retirement does come.

So what then, lies behind this decision to step down?

First, it’s worth noting that aside from institutions, Archer is the single largest shareholder in the company. If anyone has its interests at heart, he does. He is bound up with the history, the ownership and the future, so he is neither jumping nor being pushed. This is a decision that was taken internally, after long hard thought.

It should be seen in the context of the wider mining markets, which continue to move through their standard cyclical patterns. The next upswing is underway, but it’s not clear how long it will take to reach full flight. By the time it does, Archer may indeed be ready for full-blown retirement, just at the wrong, critical moment.

The time is right, now, for some serious succession planning, rather than when the markets are in full flight.

Organic growth likely to be incremental...

Because it’s also clear the evolution of Great Panther has reached a point where organic growth is likely to be incremental rather than dramatic.

Its operating silver, gold and base metals mines in Mexico have a decent track record of production, one indeed at Guanajuato that dates back many, many decades.

“But,” says Archer, “at Guanajuato we’ll never be able to build up a large reserve base.”

So, as far as major growth is concerned, acquisition and corporate activity are likely to be key.

Archer has already struck one deal in Peru with the acquisition of the Coricancha mine complex from Nyrstar. He’s likely at least to stay on to see this project into production.

WATCH - Great Panther Silver's Archer very excited about Peru mine opportunity

But as far as the next deals are concerned, those will be left to new Vice President Corporate Development Samuel Mah and to whomever comes in as the new chief executive.

A new growth phase...

“We are entering a new growth phase,” says Archer.

“Our operations are more or less at capacity. Further expansions will require acquisitions. We would like to bring on another mine – at least one more. But we’ll bring someone new onto the board and let them take this new phase forward.”

Still, Archer is not to be rushed in this process.

“What we’re not looking for is someone who’ll come in and make wholesale changes. People enjoy working within the corporate culture that we have. What we do want is someone who knows Latin America.”

Until the right man or woman is identified, Archer will remain at the helm. But the medium-term plans are now very clear.

“It’s time to pass the baton on to someone else,” he says. “Rather than wait a few years.”

Watch this space.

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Thu, 27 Apr 2017 17:25:00 -0400 https://www.proactiveinvestors.com/companies/news/177000/bob-archer-steps-aside-to-allow-new-blood-to-take-great-panther-silver-to-the-next-level-177000.html
<![CDATA[News - Great Panther Silver bolsters board with new independent director ]]> https://www.proactiveinvestors.com/companies/news/176457/great-panther-silver-bolsters-board-with-new-independent-director-176457.html Financial expert Elise Rees has been appointed as an independent director to metals miner Great Panther Silver Ltd (TSE:GPR, NYSE:GPL), it said today.

"Having recently retired after a 35-year career in professional accountancy, she brings us significant experience in acquisitions, mergers and corporate restructuring across a wide range of industries, including mining, energy, infrastructure, construction, real estate, retail and distribution," said Bob Garnett, chair of the board.

READ - Great Panther Silver confident in hitting annual production guidance WATCH - Great Panther Silver's Archer very excited about Peru mine opportunity

"Further, she is qualified as a financial expert under SEC, NYSE/Nasdaq and TSX listing rules."

Ms Rees, who was named as one of the top 100 most powerful women in Canada in 2015 by 'Women's Executive Network', has served on the boards of a number of profit and not-for profit organizations.

She currently sits on the boards of Enmax Corp, EasyPark and Westland Insurance, as well as the Greater Vancouver board of trade, the miner revealed.

This week, Mexico-focused  Great Panther revealed it remains on track to hit full-year production guidance despite closing down its Topia mine for the past three months.

Milling operations at the mine – which is in Durango, Mexico – have been suspended since December to allow Great Panther to undertake planned works to upgrade the plant and transition to a new tailings storage facility (TSF).

Most of that work has now been completed under budget, and the old TSF is temporarily being used while Great Panther gets the green light from Mexican authorities to use the new one.

Even while the mill was shut down though, the company continued to mine and it expects to process all of the stockpiled ore by the end of the year, hence the maintained full-year production guidance.

The company also repeated its all-in sustaining costs (AISC) forecast for the year of US$5-US$6 per payable silver ounce and US$14-US$16 per payable silver ounce respectively.

It also told investors that the previously announced acquisition of the Coricancha mine in Peru is likely to close in the current quarter.

Also this month, the firm said Robert Archer, chief executive and president of Great Panther was to step down this year as the firm moves into its next phase of growth.

He will stay in the role and continue to work with the board to find his successor.

Shares in Toronto shed 4.29% to $2.01.

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Thu, 13 Apr 2017 10:00:00 -0400 https://www.proactiveinvestors.com/companies/news/176457/great-panther-silver-bolsters-board-with-new-independent-director-176457.html