SILVERBUGS (SILVER)

[NYBob]

Great Panther Mining positioned to post strong 2020 after record net
income and operating cash flow in 2Q
The group put the strong results down to the strong rise in the gold
price and record output from its flagship Tucano mine in Brazil


At the Tucano mine alone, output was a record 35,421 ounces in the
quarter compared to 29,899 ounces in the same period last year

Great Panther Mining Limited -
At the Tucano mine alone, output was a record 35,421 ounces in the
quarter compared to 29,899 ounces in the same period last year

Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL), the precious
metals miner, posted a clutch of record numbers in its second quarter
financials, despite the challenges posed by the coronavirus (COVID-19)
pandemic, including a net income compared to a loss in the same period
last year.

The group put the strong results down to the strong rise in the gold
price and record output from its flagship Tucano mine in Brazil.


READ: Noble Capital says Great Panther Mining's 2Q production figures
highlight "solid performance" at Tucano

Net income for the three months to June 30 came in at a record US$8.5
million compared to a loss of US$5.7 million for the second quarter of
2019.
Mine operating earnings before non-cash items were a
record US$35.8 million, up 233% on the figure
of US$10.7 million a year ago.

Cash flow from operating activities came in at US$19.5 million, versus a
loss of US$5.5 million in 2Q, 2019.

Revenue for the three months was US$67 million versus US$45.2 million a
year ago, on consolidated gold production across all mines of
36,357 ounces (2Q 2019: 33, 461 ounces).

At Tucano alone, output was a record 35,421 ounces in the quarter
compared to 29,899 ounces in the same period last year.

"The combination of a strong rise in the gold price and record
production at our flagship Tucano mine, leading to a substantially
lower AISC, drove a significant increase in cash flow from operating
activities to a record $19.5 million for the second quarter of 2020,"
said Great Panther CEO Rob Henderson in a statement.

"This was an impressive result given the unprecedented challenges of
managing COVID-19."

The firm operates the Tucano mine in Brazil and
the Topia and
the Guanajuato Mine Complex (GMC) in Mexico
(where operations restarted in June).
Across the group, Great Panther expects to produce for full year 2020
between 146,000 and 158,000 gold equivalent ounces at
all-in sustaining costs (AISC) in the range of
US$1,150 to US$1,250 per gold ounce sold and is
"well positioned" to deliver strong results.

"With the restart of the company's operations in Mexico in June, a
strong increase in the price of silver and new records for the gold pr
ice since the end of the second quarter, Great Panther expects
continued strong cash-flow generation in the third quarter," it added.

As at the end of June, the miner held cash and equivalents of
US$60.2 million, an increase from US$37 million at the end of 2019.

Share s added over 7% in New York to US$0.97.


Contact the author at [e-mail]

https://ca.proactiveinvestors.com/companies/news/926040/great-panther-mining-positioned-to-post-strong-2020-after-record-net-income-and-operating-cash-flow-in-2q-926040.html

GPL making solid moves as third quarter (Q3) financial report will
definitely outperform Q1 and Q2 reports!!
In other words increased cash flow increased revenue performance and
increased production measures!!

This is the best formula for positive reflection in growth in share
prices !!
GPL is the jackpot of the mining industry!!
HEDGE funds are jumping on board as confidence keeps building on the
financial growth part of GPL!!
by artman great info )

Great Panther Mining positioned to post strong 2020 after record net
income and operating cash flow in 2Q
The group put the strong results down to the strong rise in the gold
price and record output from its flagship Tucano mine in Brazil


https://static1.proactiveinvestors.com/thumbs/upload/News/Image/2020_08/672z311_1596719583_2020-08-06-09-13-03_256a45b238532d9c917cbcb5c3f2ea5e.jpg


CORPORATE PRESENTATION

https://www.greatpanther.com/_resources/presentations/corporate-presentation.pdf?v=0.882


https://www.greatpanther.com


Gold & Silver bulls starting to break out > ^ > ^ > ^

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