Great Panther Silver Limited

Great Panther Silver Limited is a primary silver mining and exploration company. The company's current activities are focused on the mining of precious metals from its two wholly owned operating mines in Mexico: the Guanajuato mine complex, which includes the San Ignacio satellite mine, and the Topia mine in Durango. In addition, the Company has recently signed an agreement to acquire a 100% interest in the Coricancha Mine Complex in the central Andes of Peru.

Expert Comments:

Heiko Ihle, Rodman & Renshaw (1/12/17)
"Great Panther Silver Limited announced 2016 production results. . .we note that overall production totals were slightly hindered by the shutdowns at Topia related to the tailings expansion, and a variety of plant improvements. Overall, we remain impressed that production totals nearly reached our estimate despite the aforementioned capital improvements. . .production should bounce back to over 4 Moz AgEq in 2017—a run rate that we expect to remain consistent. . .Further, we expect a 4 Moz AgEq production rate to remain steady at the firm's Mexican operations, as focus shifts toward potentially advancing the Coricancha Mine."

The deal Great Panther announced last month to acquire Coricancha in Peru from Nyrstar is getting high marks from one analyst.
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Brien Lundin, Gold Newsletter (Jefferson Financial) (12/27/16)
"Great Panther Silver Ltd. posted a strong Q3,based on the earnings numbers it released last month. . .the company’s revenue was $15.6 million, up 22% on a year-over-year basis. That increase,combined with an 8% decrease in all-in sustaining costs for metal production, led to mine operating earnings before non-cash items of $7.2 million, a 64% improvement over the same quarter last year. . .the company continues to be a smart play for those looking to leverage rising silver prices. . .in anticipation of higher silver prices and the potential for some moves on the corporate front, Great Panther is a buy."

Heiko Ihle, Rodman & Renshaw (12/21/16)
"On Dec. 20, Great Panther Silver Ltd. announced an agreement with Nyrstar to acquire Coricancha, a polymetallic mine in Peru. . .this transaction presents Great Panther with substantial upside, as management believes Coricancha could produce 3 Moz AuEq/year, while limiting downside due to the structure of the transaction. . .Great Panther's management team has remained steadfast in its commitment towards acquiring the right assets at the right price. . .we continue to remain supporters of management's acquisition strategy and think the Coricancha purchase is a low-risk way to significantly add to Great Panther's consolidated production profile."

Heiko Ihle, Rodman & Renshaw (11/4/16)
"Great Panther Silver Ltd. reported net income of $2.1 million, which we feel was achieved primarily due to continued cost reduction across the firm's assets, coupled with a change in reporting currency to US$ resulting in the elimination of a non-cash foreign currency loss that had been reported in the past. . .we highlight that silver equivalent production to date has reached approximately 3.2 million ounces, which we feel strongly positions the firm to meet management's guidance of 4.0-4.2 million silver equivalent ounces as well as beat our estimate of just over 4.0 million silver equivalent ounces."

Bhakti Pavani, Euro Pacific Canada (11/4/16)
"Great Panther Silver Ltd. reported revenue/EPS of US$15.6MM/US$0.01. . .the production cost, general and administrative expenses and exploration, evaluation, and development expenses were all below our estimate. . .with an increase in gold prices, the Company should earn higher gold by-product credits. . .given the operating performance of the Company for the first nine months, we believe the Company might beat its own revised cash cost guidance of $4.00-$6.00."

Brien Lundin, Gold Investment Letter (11/1/16)
"Great Panther Silver Ltd. announced lower gold and silver production from Guanajuato and Topia, its two operating mines in Mexico. . .Great Panther remains on track to meet its 2016 production guidance. . .share price didn’t budge much on this news, a sign that the market is well aware of Great Panther’s ability to deliver leverage on rising precious metals prices. It remains one of the key holdings in our portfolio of Mexican silver producers and a hold at current trading levels."

Production numbers were lower than expected for Q3/16, but analysts following Great Panther Silver remain buoyed both by the company's financial strength and silver output from its Guanajuato Mine Complex.
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More Expert Comments

Experts Following This Company

Heiko Ihle, Managing Director – H.C. Wainwright & Co., Rodman & Renshaw
Brien Lundin, Author Gold Newsletter (Jefferson Financial)
Bhakti Pavani – Euro Pacific Canada

The information provided above is from analysts, newsletters, the company and other contributors.

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