Great Panther Mining Limited (TSX:GPR; NYSE-A:GPL) ("Great Panther" or "the Company") reports consolidated financial results for the first quarter ("Q1") of 2020 reflecting the operations of its three wholly owned mines: the Tucano Gold Mine ("Tucano") in Brazil, and the Topia Mine ("Topia") and Guanajuato Mine Complex (the "GMC") in Mexico. The Company will host a conference call and live webcast to discuss the results at 7.30am PDT/10.30am EDT on May 8, 2020. Dial-in and login details are provided at the end of this news release.
Despite the abysmal price trends, silver's fundamental image appears quite strong and the metal will eventually recover in the impending demand-supply imbalance.
GREAT PANTHER MINING LIMITED (NYSE American: GPL; TSX: GPR) ("Great Panther", the "Company") today reported financial results for the Company's year ended December 31, 2019 from its Tucano Gold Mine ("Tucano") in Brazil, and two Mexican mining operations: the Topia Mine ("Topia") and the Guanajuato Mine Complex ("GMC"), which includes the San Ignacio Mine, the Guanajuato Mine, and the Cata processing plant. All financial information is prepared in accordance with International Financial Reporting Standards ("IFRS"), except as noted in the Non-GAAP Measures section of the Company's Management's Discussion and Analysis ("MD&A;"). All dollar amounts are expressed in US dollars ("USD"), unless otherwise noted.
VANCOUVER , April 2, 2020 /CNW/ - GREAT PANTHER MINING LIMITED (NYSE American: GPL; TSX: GPR) ("Great Panther", the "Company") announces that it has initiated an orderly and safe suspension of mining and processing activities at the Guanajuato Mine Complex (the "GMC") and the Topia Mine until April 30 , 2020. The suspension complies with the directive of the Mexican Federal Government announced on March 31, 2020 to mitigate the spread of COVID-19. The Company has begun ramping down activities at both the GMC and Topia mines and will retain only essential personnel during the suspension period, following strict health and safety protocols while ensuring environmental monitoring and security of these operations.
Great Panther Mining Limited (TSX: GPR. NYSE-A: GPL) ("Great Panther" or "the Company") reports that its Tucano Gold Mine ("Tucano") in Brazil continues to operate at full capacity with strict COVID-19 mitigation protocols in place, and has not been subject to any government imposed restrictions in response to COVID-19. As previously announced, Great Panther intends to restart operations in Mexico this month in accordance with the Mexican federal government's announcements of the lifting of restrictions that have suspended mining operations in the country since the start of April.
Great Panther Files NI 43-101 Technical Report on the Tucano Gold Mine
GREAT PANTHER MINING LIMITED (NYSE American: GPL; TSX: GPR) ("Great Panther", the "Company") has rescheduled the release of its fiscal year 2019 financial results for Monday, March 30, 2020 after market close.
VANCOUVER , May 20, 2020 /CNW/ - Great Panther Mining Limited (TSX:GPR; NYSE-A:GPL) ("Great Panther" or "the Company") announces the closing of the bought deal financing announced on May 13, 2020 . Aggregate gross proceeds totaled US$16.1 million , pursuant to which the Company issued 40,250,000 common shares at a price of US$0.40 per share ("the Offering"). The Offering was led by Cantor Fitzgerald Canada Corporation ("CFCC") and BMO Nesbitt Burns Inc. ("BMO"), as co-lead underwriters and joint book-runners, on behalf of themselves and a syndicate of underwriters, including H.C. Wainwright & Co., LLC as lead manager, and Roth Capital Partners, LLC as manager (collectively with CFCC and BMO, the "Underwriters").
Stocks are on the rise, but why? The glum results of earnings season have not caused another panic – rather, investors seem to be taking them in stride as ‘baked in’ to the current financial situation. The indexes are generally holding steady, at resistance levels Wall Street had predicted two weeks ago. And this brings up the questions, How long will this last? and What will happen next? Weighing in from Morgan Stanley, chief US equity strategist Michael Wilson believes that stocks hit their true bottom on March 23. In his view, the coronavirus and the collapse in oil markets simply marked the end of the last US market expansionary cycle, and that the current rally has potential to develop into a true recovery. The relatively flat trading of the last few weeks is, in Wilson’s opinion, the market’s first break after a “torrid 35% rally from the lows.” Wilson cites several factors in support of his stance. In particular, he notes that stock markets typically lead an economic recovery by as much as two quarter – and that economists are predicting a general recovery to begin in 2H20. If they are correct, then the March 23 market trough and current rally would fit that pattern. Wilson also points to the enormous support and stimulus being offered by central banks and governments as a move that will benefit the equity markets. As a first step toward the next bull run, Wilson has advised his clients to buy into small-cap stocks. These companies typically fly under-the-radar, getting less notice from Wall Street – a quirk that sometimes helps them weather storms. We’ve taken Wilson’s advice as part of a profile, and used the TipRanks database to pull up three micro-cap penny stock companies with super-low entry costs (a dollar per share or less) and huge upside potential (greater than 90% in the year to come). Here are the details. Great Panther Silver (GPL) The first stock on our list is mining company Great Panther Silver. Most of Great Panther’s operations are located in Mexico, but the company also has an active mine in Brazil and exploration operations in Peru. The company focuses on gold and silver production. Great Panther has been in a time of transition, with a new CEO and top management team. Overall production has taken a hit from the COVID-19 pandemic. GPL reported that two workers at its Brazilian mine are confirmed to have the disease, and while they are now quarantined, the site’s mining operations remain at full capacity. In Mexico, production was halted through April 30 on orders from the Mexican government, and that order has since been extended to May 30. The Mexican Topia mine, located in a locality that has not experienced any coronavirus cases, may be able to reopen early, on May 18. Great Panther’s Peruvian operation is on hold until July. Despite the setbacks in production caused by the pandemic, Great Panther reported a 134% year-over-year increase in Q1 gold production, with output reaching 35,000 gold equivalent ounces. Silver production reached 393,000 equivalent ounces, for an 11% year-over-year increase. The high production complements a strong cash position – GPL reported $37 million in cash on hand at the end of 2019. The production numbers and cash position are welcome news, and reflect well on the new management team. Reviewing this stock for Cantor Fitzgerald, analyst Matthew O’Keefe sees a clear path forward, based on fine exploration opportunities. “We continue to highlight exploration as a key upside for the Company. Exploration expenditures of approximately $7 … are primarily focused on near mine drilling activities intended to replace gold ounces mined in 2020. These activities are ongoing, and we expect that a significant amount of the drilling to be completed by the end of Q3/20. We continue to see excellent potential here,” he commented. O’Keefe puts a Buy rating on GPL, along with a $1.10 price target that indicates 134% upside potential. (To watch O’Keefe’s track record, click here) The Wall Street analyst corps clearly agrees with O’Keefe on GPL’s potential. The stock gets a Strong Buy rating from the analyst consensus, and it is unanimous, based on 3 recent Buy reviews. GPL is a penny stock, and sells for only 47 cents per share. The average price target is slightly more bullish than O’Keefe’s, at $1.15 per share, and it suggests an upside potential of 145% for the next 12 months. (See Great Panther Silver price targets and analyst ratings on TipRanks) Westport Fuel Systems, Inc. (WPRT) Next on our list is a company involved in clean transportation technology. Westport engineers and produces natural gas engines, along with fuel system components for passenger cars and on- and off-road commercial vehicles. The company is a leader in high pressure direct injection (HPDI) technology. The coronavirus pandemic was hard on Westport in Q1. The company’s Italian manufacturing facility was forced to shut down, and only resumed operations on May 4. Looking ahead, the company is expected to report a Q1 net loss of 5 cents per share come June. On positive note, Westport faces these difficulties after a year of growing revenues and earnings in 2019, culminating in Q4’s break-even EPS – much better than the 1-cent loss predicted, and far better than the year-ago quarter’s 8-cent loss. Revenues were up 23% year-over-year in Q4, and reached $74.3 million. 5-star analyst Colin Rusch, of Oppenheimer, is optimistic that WPRT can weather this storm. He writes, “We believe the company is being prudent in declining to provide guidance given the clear uncertainty around the coronavirus containment efforts, particularly in Europe... We believe working capital management will be critical for WPRT as it navigates lower volumes for a period of time along with compressed margins. We remain constructive despite near-term headwinds.” Rusch’s comments support his Buy rating on this stock. He gives WPRT shares a $3 price target, which indicates confidence – and a 209% upside potential for next 12 months. (To watch Rusch’s track record, click here) Craig-Hallum’s Eric Stine is even more bullish on WPRT. The four-star analyst points out that the company will receive support from governments in Europe and Canada, and goes on to outline why the company has a strong future ahead. “With the shift to alternative fuels driven by straightforward economics and the competitive advantage gained, we believe that Westport Fuel Systems is at very early stages of a meaningful growth ramp,” he explained. Stine places a $5 price target on this stock, to support his Buy rating. His target implies a whopping one-year upside potential of 415%. (To watch Stine’s track record, click here) Westport Fuel is another company with a unanimous Strong Buy analyst consensus view. The rating is based on 3 Buy reviews set recently, and comes with an average price target of $3.33. This suggests room for an impressive 242% upside potential. (See Westport stock analysis on TipRanks)Auryn Resources, Inc. (AUG) Our last stock is another mining company, operating in the Canadian North as well as in Peru. Auryn focuses on producing copper and high-grade gold. Working in the Arctic or the Peruvian mountains entails high overhead, and AUG operates at a net loss – but the loss has been narrowing steadily since 2H18. Even taking coronavirus disruptions into account, AUG is expected to show a further reduction in the net loss per share for Q1 2020. In additional good news, Auryn enhanced its financial position at the end of 2019, securing C$10.1 million ($7.22 million US) in funding by closing its private placing offering. The sale closed just as Auryn also improved its interest rates on existing loans. These improvements to the balance sheet gave the company a firm footing just before the disruptions caused by COVID-19 occurred. And finally, Auryn has also released the Preliminary Economic Assessment of the Canadian Homestake Ridge project. This assessment shows that the property has the potential to become a profitable, high-grade, small-footprint underground gold mine. The company estimates the new mine will produce up to 88,660 gold equivalent ounces when it reaches peak production, three years after opening, and will have a production lifetime of 13 years. Joseph Reagor, 4-star analyst with Roth Capital, sees Auryn as a solid stock to buy, and bases his recommendation on the high potential of the Homestake mine. Ironically, Reagor believes the company can secure maximum value by not directly operating this asset: “We believe that AUG is likely to either sell Homestake or spin it out and merge it with a junior producer. Each of these outcomes would likely result in a premium valuation…” Reagor places a Buy rating on AUG shares, and his $3.25 price target suggests an upside potential of 190%. (To watch Reagor’s track record, click here) With a Strong Buy analyst consensus rating, based on 3 Buy reviews, it’s clear that Wall Street is in agreement with Reagor about this stock’s potential. The Street is a bit more cautious, however; the average price target on this stock is $2.11, which implies an upside potential of 88% from the current share price of $1.12. (See Auryn Resources price targets and analyst ratings on TipRanks)
VANCOUVER , March 20, 2020 /CNW/ - GREAT PANTHER MINING LIMITED (NYSE American: GPL; TSX: GPR) ("Great Panther", the "Company") announces that it has been closely monitoring the latest developments of the novel coronavirus (COVID-19) through the World Health Organization, the Public Health Agency of Canada and local and national health authorities in the countries in which it operates. Great Panther continues to hold the health and safety of its people and host communities as a top priority. All operations and offices have implemented travel restrictions, supervision, monitoring and response plans to reduce the risk of COVID-19 exposure and outbreak.
Great Panther Announces First Quarter 2020 Production Results
GREAT PANTHER MINING LIMITED (NYSE American: GPL; TSX: GPR) ("Great Panther") announces that two technical reports regarding the Guanajuato Mine Complex have been filed. The reports are titled "NI 43-101 Mineral Resource Update Technical Report on the Guanajuato Mine Complex, San Ignacio Mine, Guanajuato State, Mexico", dated March 17, 2020, and "NI 43-101 Mineral Resource Update Technical Report on the Guanajuato Mine Complex, Guanajuato Mine, Guanajuato State, Mexico", dated March 27, 2020 (the "Technical Reports"). The Technical Reports were prepared by Robert F. Brown, P. Eng., Qualified Person & Acting V.P. Exploration, and Mohammed Nourpour, P. Geo., Qualified Person & Resource Geologist. The Technical Reports are in support of Great Panther's March 9, 2020 news release announcing an updated Mineral Resource Estimate at the Guanajuato Mine Complex, with effective dates of July 31, 2019 for the San Ignacio Mine and October 31, 2019 for the Guanajuato Mine. The Technical Reports are available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov, and on the Company's website at www.greatpanther.com.
Great Panther (GPL) delivered earnings and revenue surprises of -100.00% and -15.81%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
NYSE-A: GPL) ("Great Panther" or "the Company") announces that two employees that live in the nearby communities of the Tucano Gold Mine ("Tucano") in northern Brazil have tested positive for the COVID-19 virus. Operations at Tucano have not been impacted, and the mine has continued to operate at full capacity with strict COVID-19 mitigation protocols, which Great Panther implemented in mid-March. There are no other confirmed or suspected cases at the Company's Mexican operations or its Coricancha Mine in Peru that continue complying with temporary government-mandated restrictions.
GREAT PANTHER MINING LIMITED (NYSE American: GPL; TSX: GPR) ("Great Panther", the "Company") announces that the Mexican federal government has ordered an extension of the suspension of non-essential activities in Mexico until May 30, 2020 in response to COVID-19. On April 2, 2020, the Company announced a temporary suspension of production activities at its Mexican operations through April 30, 2020 in response to a first order by the Mexican government to suspend such activities.
Great Panther Mining Limited (TSX:GPR; NYSE-A:GPL) ("Great Panther" or "the Company") announces it has entered into an agreement dated May 13, 2020 with Cantor Fitzgerald Canada Corporation ("CFCC") and BMO Nesbitt Burns Inc. ("BMO"), as co-lead underwriters and joint book-runners (the "Co-Lead Underwriters"), on behalf of themselves and a syndicate of underwriters, including H.C. Wainwright & Co., LLC as lead manager, and Roth Capital Partners, LLC as manager (collectively with CFCC and BMO, the "Underwriters") under which the Underwriters have agreed to purchase, on a bought deal basis, 25,000,000 common shares of the Company (the "Offered Shares") at the price of US$0.40 per Offered Share (the "Issue Price") for aggregate gross proceeds of US$10 million (the "Offering").
Great Panther Mining Limited (TSX:GPR; NYSE-A:GPL) ("Great Panther" or "the Company") has scheduled the release of its first quarter 2020 financial results for Thursday, May 7, 2020 after market close.
Great Panther Mining Limited (TSX:GPR; NYSE-A:GPL) ("Great Panther" or "the Company") announces changes to the Board of Directors and senior management team.
Great Panther Mining Limited (TSX:GPR; NYSE-A:GPL) ("Great Panther" or "the Company") is saddened to report a fatality has occurred at its Guanajuato Mine Complex (GMC) in Mexico. The accident occurred today at approximately 9.30am CDT in the Rayas underground mine at GMC.
VANCOUVER , May 14, 2020 /CNW/ - Great Panther Mining Limited (TSX:GPR; NYSE-A:GPL) ("Great Panther" or "the Company") announces that it has agreed with Cantor Fitzgerald Canada Corporation ("CFCC") and BMO Nesbitt Burns Inc. ("BMO"), as co-lead underwriters and joint book-runners (the "Co-Lead Underwriters"), on behalf of themselves and a syndicate of underwriters, including H.C. Wainwright & Co., LLC as lead manager, and Roth Capital Partners, LLC as manager (collectively with CFCC and BMO, the "Underwriters") to increase the size of its previously announced bought deal offering to US$14 million. Under the revised deal terms, the Underwriters have agreed to purchase, on a bought deal basis, 35,000,000 common shares of the Company (the "Offered Shares") at the price of US$0.40 per Offered Share (the "Issue Price") for aggregate gross proceeds of US$14 million (the "Offering").