leadf
logo-loader
viewGreat Panther Mining Limited

Great Panther suspends Topia mine operations due to COVID-19 but does not expect it to hit group production guidance

The virus has been detected among the workforce at the mine, the precious metals producer said

Great Panther Mining Limited -
For the three months to September, Topia produced an average of around 1,400 gold equivalent ounces per month and accounted for around 9% of the miner's revenues

Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) (FRA:G3U) has revealed it had temporarily suspended operations at its Topia mine in Mexico due to coronavirus (COVID-19) but noted the move was not expected to hit the group's consolidated production guidance. 

The virus has been detected among the workforce at the mine, the precious metals producer said in a brief statement. 

READ: Great Panther Mining announces record third-quarter 2020 financial results

"The company will continue working closely with the local government and regional health authorities to ensure a safe restart of normal operations. A reduced workforce will remain on-site to maintain essential activities for the duration of the voluntary suspension," said Great Panther, adding that the suspension was not expected to last more than 30 days.

For the three months to September 30, this year, Topia produced an average of around 1,400 gold equivalent ounces per month and accounted for around 9% of the miner's revenues.

"Great Panther's Tucano and GMC mines remain in operation with strict COVID-19 protocols in place. The suspension of operations at Topia is not expected to impact the company's ability to achieve consolidated production guidance," the firm told investors.

Earlier this month, Great Panther said the group was on track to meet its 2020 output guidance of between 146,000 and 158,000 gold equivalent ounces.

The company boasts a portfolio of assets in Brazil, Mexico and Peru, including three operating gold and silver mines, four exploration projects, and an advanced development project.

Contact the author at [email protected]

Quick facts: Great Panther Mining Limited

Price: 1.01 CAD

TSX:GPR
Market: TSX
Market Cap: $358.28 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Great Panther Mining Limited named herein, including the promotion by the Company of Great Panther Mining Limited in any Content on the Site,...

FOR OUR FULL DISCLAIMER CLICK HERE

Silver price to continue to strengthen as gold rockets

Mining Capital's Alastair Ford says we've seen a significant increase in the silver price which he says is long overdue. The gold/silver ratio has been widening for a while now and a lot of market commentators have been saying it's only a matter of time before silver starts to respond to...

on 07/24/2020

2 min read