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Great Panther Mining Limited (NYSE: GPL) reported robust financial results for FY 2020, achieving record mine operating earnings of $83.9 million ($0.24 per share). The company saw a 131% increase in cash flow from operations, reaching $68.9 million. Consolidated all-in sustaining costs (AISC) dropped by 11% to $1,228 per gold ounce. The company ended 2020 with $63.4 million in cash and effectively managed operational challenges due to COVID-19. For 2021, production is forecasted between 135,000 to 150,000 Au eq oz.
Great Panther Mining Limited (TSX: GPR, NYSE American: GPL) will release its fiscal year 2020 financial results on March 4, 2021, before market open. A conference call and webcast will follow at 9:00 AM PT / 12:00 PM ET on the same day. Shareholders and analysts can join via phone or online. The company operates gold and silver mines in Brazil, Mexico, and Peru, and is actively pursuing exploration and acquisition opportunities to enhance its asset portfolio.
Great Panther Mining Limited (NYSE: GPL) announced the filing of an amended technical report regarding the mineral reserves and resources of its Tucano Gold Mine in Brazil. This report was updated to correct minor typographical errors from the previous report, with an effective date of September 30, 2020. The document is accessible on SEDAR and the company's website. Great Panther continues to expand its portfolio in the Americas, including Brazil, Mexico, and Peru, where it operates multiple gold and silver mines.
Great Panther Mining Limited (NYSE American: GPL) announced the filing of a Technical Report on its Tucano Gold Mine in Brazil, effective September 30, 2020. This report supports the updated Mineral Reserve and Resource estimates for Tucano disclosed in December 2020. For 2021, Great Panther plans a record 90,000 meters of drilling with a budget of $13 million, aimed at extending the Tucano open pit mine life and exploring other sites in Brazil and Mexico. Key targets will be identified through extensive drilling and soil sampling across its vast land holdings.
Great Panther Mining Limited (GPL) announced its Q4 and FY 2020 production results, achieving a consolidated metal production of 150,051 gold equivalent ounces, a 2% increase from 2019. Tucano produced 125,417 gold ounces, meeting its annual target. The company has implemented strict COVID-19 safety measures, ensuring workforce health. For 2021, consolidated production is expected to be between 135,000 to 150,000 gold equivalent ounces, with higher grades targeted for 2022 and 2023, following an extension of the life of certain pits.
Great Panther Mining Limited (TSX: GPR, NYSE American: GPL) has filed an updated technical report on its 100%-owned Guanajuato Mine Complex (GMC) in Mexico, revealing significant mineral resource increases. The report shows a 17% rise in Measured and Indicated (M&I) Mineral Resources to 10.2 million silver equivalent ounces, with a silver grade increase of 10% to 199 g/t. Inferred Mineral Resources now total 18.1 million Ag eq oz, reflecting successful exploration. A permitting update indicates potential operational risks if tailings storage facility expansion approval is delayed beyond June 30, 2021.
Great Panther Mining Limited (NYSE: GPL) has resumed operations at its Topia mine as of December 17, 2020, after a voluntary suspension to protect the health of workers amid COVID-19. All staff underwent safety training and the processing plant is set to begin ore processing on December 21, 2020. The suspension lasted approximately 30 days, but the company anticipates it will not affect its 2020 production guidance, with Topia contributing about 9% of revenues in Q3 2020.
Great Panther emphasizes its commitment to safe operations in collaboration with health authorities.
Great Panther Mining reported updated Mineral Reserve and Resource estimates for its 100% owned Tucano mine in Brazil, effective September 30, 2020. Proven and Probable Mineral Reserves are now 629K gold ounces, with a notable increase in Measured and Indicated Resources to 953K ounces, marking a 28% rise since September 2019. The company has initiated aggressive exploration programs to continue resource growth and mine life extension. The update reflects comprehensive drilling efforts and improved geological modeling, positioning the company favorably for future operational planning.
Great Panther Mining has updated its Mineral Resource estimates for its Guanajuato Mine Complex (GMC) in Mexico, with estimates dated July 31, 2020. The Measured and Indicated (M&I) resources now contain 10.2 million silver equivalent ounces, a 17% increase from 2019. The Inferred resources have more than doubled to 18.1 million silver equivalent ounces. Significant increases were noted at both Guanajuato and San Ignacio mines, with the latter's Inferred resources rising from 5.9 million to 12.1 million ounces. Continued drilling is expected to further enhance these resources.
Great Panther Mining Limited (NYSE: GPL) has temporarily suspended operations at its Topia mine in Mexico due to COVID-19 detection among workers. The suspension, lasting no longer than 30 days, affects about 9% of the company's revenue. Despite this, operations at Tucano and GMC mines continue with strict health protocols. The company reassures that the suspension will not impact its overall production guidance. Important measures, including testing and tracing, are being conducted to ensure safety.
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