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Great Panther Mining Limited reported a consolidated revenue of $185.7 million for FY 2021, down 29% from FY 2020, with a net loss of $42.2 million. Gold equivalent production totaled 105,006 ounces, including 87,054 gold ounces. Q4 2021 saw a revenue decline of 38% year-over-year, with mine operating loss of $4.2 million. The company plans to return to steady production at the Tucano mine in 2022 and anticipates consolidated gold equivalent production between 100,000 to 119,000 ounces.
The latest press release from Great Panther Mining Limited highlights significant drill results from the Coricancha Mine in Peru, confirming the high-grade mineralization of the newly discovered Escondida vein. A total of 22 holes were drilled, revealing impressive gold, silver, copper, zinc, and lead grades. Notable intersections include 9.8 g/t Au and 910 g/t Ag. The Coricancha project, currently in care and maintenance, has an operational mill and extensive infrastructure. These promising drill results will be integrated into the mine development plan, enhancing the company's asset strategy.
Great Panther Mining Limited (NYSE: GPL) has announced the filing of the "NI 43-101 Mineral Resource Update Technical Report" for the Guanajuato Mine Complex. This report is effective as of July 31, 2021, and supports mineral resource estimates previously disclosed in a news release dated February 11, 2022. The report is available on SEDAR and the company's website. Great Panther is focused on producing precious metals in the Americas, with assets in Brazil, Mexico, and Peru, aiming for long-term stakeholder value through sustainable production and exploration.
Great Panther Mining Limited (NYSE-A: GPL) announced the immediate resignation of CEO Rob Henderson due to personal reasons, with board chair Alan Hair stepping in as interim CEO. Hair aims to restore steady-state production at the Tucano mine in Brazil and advance exploration efforts. The company operates in the Americas, focusing on precious metals production. The transition plan for a permanent CEO is forthcoming, indicating a strategic shift amidst ongoing operational challenges.
Great Panther Mining Limited (NYSE: GPL) announced the filing of the "NI 43-101 Technical Report on the Topia Mine Mineral Resource Estimates as of March 31, 2021," effective on the same date. The report supports previously released mineral resource estimates for the Topia Mine. It is now available on SEDAR, the company's website, and will be filed on EDGAR shortly. Great Panther focuses on precious metal production in the Americas, with operations in Brazil, Mexico, and Peru, aiming to create long-term value through sustainable practices.
Great Panther Mining Limited (TSX: GPR, NYSE American: GPL) announced new Mineral Resource Estimates for its Topia Mine and Guanajuato Mine Complex in Mexico. Highlights include an 8% increase in Measured and Indicated Mineral Resource grades at Topia, now at 1,041 Ag eq g/t, despite a 25% drop in silver equivalent ounces to 11.1 million. At the Guanajuato Mine, grades rose by 2%, but total ounces decreased by 36% to 7.7 million. Both updates show a significant decline in resource quantities due to rising mining costs and metal price variations, with detailed technical reports expected within 45 days.
Great Panther Mining reported production results for Q4 and FY 2021. Consolidated metal production was 105,006 gold equivalent ounces, down 30% from 2020. Q4 production fell 34% to 24,284 Au eq oz. Tucano mine faced operational challenges, leading to a 40% drop in gold output. The company aims for improved performance in 2022, with a focus on the high-grade Urucum North project. Projected gold equivalent production for 2022 is 100,000-119,000 Au eq oz.
Great Panther Mining Limited (NYSE-A: GPL) announced its intention to file a defense against three Notices of Infraction issued by the Amapa State Environmental Agency related to a fish mortality event allegedly caused by a leak at the Tucano mine site. The Notices, received on December 21, 2021, impose fines totaling 50 million Brazilian reals, due by January 30, 2022. Great Panther is actively investigating the incident and plans to appeal both the fines and their payment timeline.
Great Panther Mining Limited (NYSE-A: GPL) announces the immediate resignation of David Garofalo as Director and Chair of the Board to focus on other commitments. Alan Hair, an independent director since April 2020, has been appointed as the new Chair. Hair brings nearly 40 years of experience in the mining sector and previously led Hudbay Minerals Inc. Great Panther is dedicated to gold and silver production in the Americas, with a diverse portfolio across Brazil, Mexico, and Peru, aiming for long-term stakeholder value through sustainable practices.
Great Panther Mining Limited (NYSE: GPL) has closed a public offering of 88,461,538 common shares, raising approximately $23 million at $0.26 per share, including the underwriter's full option of 11,538,461 shares. The proceeds will be utilized for underground mine development, exploration at Tucano, maintaining working capital, and general corporate purposes. The offering was managed by H.C. Wainwright & Co. with a 6.0% commission paid on gross proceeds. This financing supports the company's growth in gold and silver production across the Americas, particularly in Brazil, Mexico, and Peru.
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