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$GOLD and $SILVER prices moving up this morning. Off to a nice start.
Great Q2 for $GPL! Fantastic results, should see some serious movement up the rest of this week.
$GPL Q2 Financials - the first 4 paragraphs of the release:
VANCOUVER, Aug. 3, 2016 /PRNewswire/ - GREAT PANTHER SILVER LIMITED (TSX: GPR; NYSE MKT: GPL) ("Great Panther"; the "Company") today reported financial results for the Company's three and six months ended June 30, 2016. The full version of the Company's unaudited condensed interim consolidated financial statements, and Management's Discussion and Analysis ("MD&A") can be viewed on the Company's website at www.greatpanther.com, or SEDAR at www.sedar.com. All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in Canadian dollars unless otherwise indicated.
"Great Panther's mine operating earnings before non-cash items increased 96% over the second quarter of 2015 due to higher silver and gold prices, favourable foreign exchange rates, and continued strong operating performance. These factors were also reflected in significant increases in operating cash flow and adjusted EBITDA, and contributed to significant growth in our cash and net working capital balances", stated Robert Archer, President and CEO. "The substantial increase in our cash flow and margins were also reflective of 74% and 43% reductions in our cash cost and all-in sustaining cost compared to the second quarter of 2015. These came in at an impressive US$1.72 and US$7.19, respectively, for the second quarter. As such, we are taking the step to reduce our cash-cost and all-in sustaining cost guidance for the year while maintaining our production guidance."
During the second quarter of 2016, the Company generated $13.2 million in mine operating earnings before non-cash items, and $9.9 million in operating cash flows before changes in non-cash net working capital. This reflected increases of 96% and 176%, respectively, over the results from the second quarter of 2015. These strong operating results are attributable to a 74% reduction in cash cost per payable silver ounce (in US dollar terms) and to the benefit of higher metal prices and favorable foreign exchange rates on revenues. Notwithstanding the strong mine operating earnings, the Company reported a net loss of $1.7 million for the second quarter of 2016, mainly due to unrealized (non-cash) foreign exchange losses of $6.4 million on inter-company loans and advances by the Company to its Mexican subsidiaries and a $2.2 million (non-cash) impairment charge associated with the termination of the option agreement for the Coricancha project. Adjusted EBITDA increased by 134% to $9.8 million.
Cash and net working capital at June 30, 2016 increased 48% and 46% to $28.8 million and $49.4 million, respectively, compared to the balances at the start of the year. This was largely a function of the improvement in cash-flows from operating activities, and $6.6 million in proceeds from an At-the-Market share offering. Subsequent to the second quarter, on July 12, 2016, the Company closed an equity bought deal offering for gross proceeds of US$29.9 million that further improved the Company's cash position and significantly improved net working capital positions. The Company continues to have no debt.
$GPL We're gonna be very happy tomorrow...
Highlights of the second quarter 2016 compared to second quarter 2015, unless otherwise noted:
•Metal production decreased 5% to 1,037,728 Ag eq oz;
•Silver production decreased 17% to 536,726 silver ounces;
•Gold production increased 13% to 6,010 gold ounces;
•Cash cost decreased 74% to US$1.72 per payable silver ounce;
•AISC decreased 43% to US$7.19 per payable silver ounce;
•Revenue increased 33% to $25.6 million;
•Mine operating earnings before non-cash items increased to $13.2 million compared to $6.7 million;
•Adjusted EBITDA improved to $9.8 million from $4.2 million;
•Net loss totalled $1.7 million, compared to a net loss of $4.7 million;
•Cash flow from operating activities, before changes in non-cash net working capital ("NCWC"), increased to $9.9 million, from $3.6 million;
•Cash and cash equivalents increased to $28.8 million at June 30, 2016, from $17.9 million at December 31, 2015; and
•Net working capital increased to $49.4 million at June 30, 2016 from $33.3 million at December 31, 2015
Not really. The lead travels down a pipe at high velocity to keep people from stealing my gold.
Yup, and if the EU crumbles and the derivative chain implosion is triggered there won't be a safe haven in the world.
I gladly own physical gold and silver, along with some lead, brass, and copper.
$GPL Me too. Silver prices went up nicely in Q2, hopefully GPL capitalized on it.
I'm embarrassed... Patience, patience!!
LOL - ain't that the truth!
$GPL - bulls in control, going green.
$GPL moving back up now after its own daily double bottom. 50/50 crap shoot on 2nd quarter earnings coming after hours today.
I'm rolling the bones on this one.
NAK was good at .30, not .70, imo.
Good Morning. GPL up in pre-market. Let's see what today brings.
$GPL $1.54 is breaking down, going to push upwards soon.
$TEUFF going ballistic.
GPL: HUGE bidder pushing it!
Good Morning, here's to having another wonderful day on the stock market.
GPL is a silver play, no? Both PMs looking strong in spot price this morning.
I think GPL may trade sideways again for a while today. Someone big is accumulating, IMO. Price will rise this week though. No accumulates like this if they don't "know" something.
Silver up too, $20.65 and climbing
$GPL - Looks like a fund or an insider is holding it in place while loading. No matter how much volume goes through the Bid & Ask barely change at all. Bid is growing but Ask not moving. I think it's being put on the launch pad (hopefully).
GPL: Pretty big bid size on it now. Ask slowly falling.
Good churn though. When it breaks it'll run harder into $1.53 and above.
$GPL $1.49 slowly crumbling, bids building
$TGD looking real good this morning.
$EVOK up in pre-market as well.
Very good sir. Thanks for the heads-up!
Well played. I stayed out this morning as it went so high in pre-market. Had it on Watch.
$EVOK news: $10 million in financing thru the selling of common shares to institutional investors, and warrants exercisable at $3.03.
http://ih.advfn.com/p.php?pid=nmona&article=72092531&symbol=EVOK
$EVOK halted. Not sure why though...
WMIH Chart: Strong move today after 3 white candlesticks. Expected a pull back but we're trading strong above the upper Bollie band and we just had an 8x34 sma cross on July 18th. Strong technical indicator. Might be a short-lived little run, or it might be indicative of some positive fundamental activity.
$GOLD challenging $1350, could break it today!
$THM Very nice Chart!
Sidenote: $ADVM bouncing off Daily bottom. Setting up for nice move next week.