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Great Panther Mining re-starts operations at its Topia mine in Mexico following a voluntary COVID-19 related suspension

The 30-day suspension of operations at Topia is not expected to impact Great Panther Mining's ability to achieve consolidated 2020 production guidance

Great Panther Mining Limited -
The Topia mine produced an average of around 1,400 gold equivalent ounces per month for the three months ended September 30, 2020

Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) (FRA:G3U) reported that it has re-started mining activities at its Topia silver and gold mine in Mexico following a voluntary suspension of operations last month due to COVID-19 health and safety concerns. 

The company noted that the suspension of operations lasted about 30 days and is not expected to impact its ability to achieve consolidated 2020 production guidance. 

Topia produced an average of around 1,400 gold equivalent ounces per month for the three months ended September 30, 2020, and accounted for about 9% of Great Panther Mining’s revenues. 

READ: Great Panther is taking its Tucano gold mine to the next level in Brazil

The company said mining resumed at Topia on December 17 and the plant is expected to begin processing ore on December 21.

Great Panther added that all employees and contractors have attended safety induction and enhanced COVID-19 protocol training, which is part of the comprehensive protocols it has implemented across all of its operations in response to the pandemic.

The company added that it will continue working closely with local government and regional health authorities to ensure continued safe operations.

During 2019, the Topia mine produced 939,000 ounces of silver and 1,344 ounces of gold at cash costs of US$12.09 per silver ounce.

Great Panther Mining recently reported record 3Q 2020 financial results from its three wholly-owned mines - Tucano in Brazil, and Topia and the Guanajuato Mine Complex in Mexico.

Its net income for the quarter hit a record US$18.6 million, or $0.05 per share, as revenue rose 8% year-over-year to US$77.0 million. The company also generated record adjusted EBITDA of US$34.9 million and record cash flow from operating activities of US$19.7 million, or $0.06 per share.

Contact Sean at sean@proactiveinvestors.com

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Price: 1.06 CAD

TSX:GPR
Market: TSX
Market Cap: $376.01 m
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