Hi Artman - hey is Gpl still primarily a silver miner or have they now become a primarily gold miner? Thanks I’m trying to increase my silver exposure.
SILVER SHORT SQUEEZE ALERT: Sprott Silver Trust To Purchase $1.5 Billion Of Physical Silver, A Jaw-Dropping 8.8% Of Annual Global Production! July 20, 2020
SILVER SHORT SQUEEZE ALERT: Sprott Silver Trust To Purchase $1.5 Billion Of Physical Silver, A Jaw-Dropping 8.8% Of Annual Global Production!
As the price of silver breaks out today, a massive short squeeze may be in the works as Sprott Silver Trust has just filed to raise $1.5 billion to purchase physical silver, which is a jaw-dropping 8.8% of annual global production.
Silver Short Squeeze Alert July 20 (King World News) – Eric King: “James, I sent you the filing where Sprott Silver Trust just stated they are going to raise $1.5 billion to purchase physical silver. This will purchase a staggering amount of physical silver in an already tight market.”
8.8% Of Annual Global Production James Turk: “Eric, this announcement is extremely bullish news for silver. $1.5 billion at $20/ounce equates to a jaw-dropping 75 million ounces of silver, which is a mind-boggling 8.8% of annual global mining production. It is a truly staggering figure when you think about it, particularly in today’s market with extremely tight conditions for physical metal and with demand for physical silver already so high. And remember, Eric, shorts are already scrambling to cover. How will they react to this?”
Eric King: “James, the silver market is already trading so incredibly bullish, especially when you look at today’s massive breakout. That 75 million of ounces of physical silver that is going to have to be sourced, how much of a squeeze will that put on the silver shorts and impact the price of silver?”
Price Of Silver Breaks Out! 4 Year High Of $20.32
This News Raises My Silver Target James Turk: “This is a very serious breakout in the silver market today, Eric. So the problem only arises with regards to prices at current levels. In other words, silver is being held in very strong hands and the above ground stock is limited. It’s going to take a much higher price to entice holders of physical silver to sell. You know my target has been $22, but in view of this news I am adjusting that target to a higher level in the $30 area.
I very much liked the article KWN published about Jesse Livermore. Livermore was absolutely right about sticking with your position when you are trading the trend and holding an asset that is so radically undervalued like silver is at the moment. So don’t get distracted by people who continue calling for short-term tops in the metals markets. Don’t let them shake you out of your position or alter your conviction that the price of silver is eventually going to new all-time highs.”
Silver prices headed to $25 as 'worthless' central banks manipulate currencies -
Great Panther Reports Second Quarter Production of 38,540 Gold Equivalent Ounces, Including Record Monthly Gold Production at Tucano in June, and Updates 2020 Guidance TSX: GPR | NYSE American: GPL VANCOUVER, BC, July 9, 2020 /CNW/ -
Great Panther Mining Limited (TSX: GPR) (NYSE-A: GPL) ("Great Panther" or "the Company") announces second quarter (Q2) 2020 production results from its three 100% owned mines: Tucano in Brazil, and Topia and the Guanajuato Mine Complex (GMC) in Mexico. Consolidated quarterly production totalled 38,540 gold equivalent ounces (Au eq oz) and included record monthly production in June at Tucano since its acquisition in early 2019.
Q2 2020 Highlights
Produced 38,540 Au eq oz on a consolidated basis, including 36,356 gold ounces (Au oz) and 142,457 silver ounces (Ag oz)
Produced 35,421 Au oz at Tucano, 35% higher than Q1 2020 and 18% higher than Q2 2019
In June, set new Tucano monthly production record of 15,389 Au oz since acquisition
Recommenced production at Topia and GMC following COVID-19 related shutdown in April and May
Strengthened the balance sheet with a US$16 million bought deal financing, adding to the March 31, 2020 cash position of US$39 million
Great Panther President and CEO Rob Henderson commented, "In Brazil, Tucano outperformed this quarter despite the challenges of COVID-19, and in Mexico, Topia and GMC have returned to stable production following the lifting of government mandated restrictions on mining.
I would like to thank our teams for delivering these strong results while prioritizing the safety and health of our people and communities and adjusting to these unprecedented times."
On a consolidated basis, Great Panther expects to produce 146,000- 158,000 Au eq oz in 2020.
This reflects the addition of 2020 production guidance for Topia which is being provided for the first time. Details are included in the 2020 Guidance section near the end of this news release.
Q2 2020 production results are preliminary and subject to adjustment with Great Panther's Q2 2020 earnings results, scheduled for release after the close of markets on August 5, 2020. A conference call will follow on August 6, 2020.
Great Panther has developed and implemented significant COVID-19 prevention, monitoring and response plans following the guidelines of the World Health Organization and the regulatory agencies of each country in which it operates to ensure a safe work environment. Protocols include mandatory medical screening and testing on arrival at site, mandatory medical leave, training sessions on health awareness and new health and safety protocols, physical distancing and increased sanitation measures, and updated operating procedures. Specific areas have been prepared for the isolation, testing and care of employees showing COVID-19 symptoms. All confirmed cases of COVID-19 are in isolation and being monitored by Company health professionals with regular reports to health authorities.
Great Panther Mining Limited is a Vancouver-based intermediate gold and silver mining and exploration company. Great Panther's operations include the Tucano Gold Mine in Brazil, and the Topia Mine and Guanajuato Mine Complex, comprising the San Ignacio and Guanajuato mines, in Mexico. It also owns the Coricancha Mine in Peru which is currently on care and maintenance.
Great Panther trades on the Toronto Stock Exchange trading under the symbol GPR, and on the NYSE American under the symbol GPL.
The Tucano Gold Mine is located in Amap State in northern Brazil. The mine is approximately 200 kilometres from Macap, the state capital.
It is currently the second largest gold producer in Brazil, producing around 145,000 ounces per year from several open pit mines wit ore processed through SAG mill and CIL infrastructure, capable of treating sulphide ore. Great Panther acquired the mine in March 2019.
The Guanajuato Mine Complex produces silver and gold concentrate and is located in central Mexico, approximately 380 kilometres north-west of Mexico City, and approximately 30 kilometres from the Guanajuato International Airport.
The Topia Mine is located in the Sierra Madre Mountains in the state of Durango in northwestern Mexico. The mine produces concentrates containing silver, gold, lead and zinc and earns revenue from custom milling of third-party ore at its processing facility.
On June 30, 2017, Great Panther completed the acquisition of the Coricancha Mine in Peru. The Coricancha Mine is a gold-silver-copper-lead-zinc mine located in the central Andes of Peru, approximately 90 kilometres east of Lima, and has been on care and maintenance since August 2013.
The Coricancha Mine has a permitted and operational 600 tonnes per day processing facility along with supporting mining infrastructure. The Company also completed a Bulk Sample Program in June 2019.
Great Panther Mining's exploration properties include the El Horcn, Santa Rosa and Plomo projects in Mexico and the Argosy project in Canada. The El Horcn project is located 100 kilometres by road northwest of Guanajuato, Santa Rosa is located approximately 15 kilometres northeast of Guanajuato, and the Plomo property is located in Sonora, Mexico. The Argosy property is located in the Red Lake Mining District in Northwestern Ontario, Canada.
The Company continues to evaluate additional mining opportunities focus on the Americas.
Great Panther is a growing gold and silver producer focused on the Americas. The Company owns a diversified portfolio of assets in Brazil, Mexico and Peru that includes three operating gold and silver mines, four exploration projects, and an advanced development project. Great Panther is actively exploring large land packages in highly prospective districts and is pursuing acquisition opportunities to complement its existing portfolio. Great Panther trades on the Toronto Stock Exchange trading under the symbol GPR, and on the NYSE American under the symbol GPL.