Home Guanajuato State The silver recovery at “Guanajuato Mine Complex” is on the rise

The silver recovery at “Guanajuato Mine Complex” is on the rise

by sanmigueltimes
0 comment

In an Oct. 13 research report on Great Panther Silver Ltd. (GPR:TSX; GPL:NYSE.MKT), Bhakti Pavani of Euro Pacific Capital wrote, “The silver recovery at GMC [Guanajuato Mine Complex] improved and returned to the historical levels primarily due to an increase in silver grade and an improvement in metallurgical procedures.”

“The company’s exploration program has successfully increased mineral resource estimate at both GMC and San Ignacio,” Pavani added, noting that San Ignacio, a “satellite mine located in GMC has consistently delivered higher grades and recoveries,” will be “the focus of development for the company in the near term.”

While Great Panther reported recoveries at GMC that were mostly in line with analysts’ expectations, a decrease in production at the Topia mine, which both Pavani and Heiko Ihle of Rodman & Renshaw commented on, “was mainly attributed to the two temporary plant shutdowns during the quarter,” according to the company’s Oct. 12 press release. “In addition, Q3 production was challenged by narrower veins, which increased dilution and decreased grade.”


(Image: investorideas.com)

“While Q3/16 production results were negatively impacted by two temporary shutdowns and lower grades, we feel it is important to maintain a long-term perspective,” wrote Ihle in an Oct. 13 research report. “To this end, management has executed on its goal of reducing costs in 2016, while positioning the firm well to meet its year-end production guidance of 4.0–4.2 million silver equivalent ounces.”

Rodman & Renshaw also continues to “like the firm’s strong balance sheet, with an estimated pro forma cash position of over $45 million and no debt,” Ihle wrote. “Given this, we expect the firm to evaluate opportunities to expand its existing portfolio of producing assets in the near term, and think 2017 could serve as a transformational year for Great Panther assuming an acquisition is made.”


Great Panther Silver mining operation in Guanajuato (Photo: Great Panther Silver)

Click here for full article

Source: http://www.investorideas.com/

You may also like

Leave a Comment

Our Company

News website that serves the English-speaking community in San Miguel with information and advertising services that exceed their expectations.


Laest News

@2024 All Right Reserved by San Miguel Times

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Update Required Flash plugin