Great Analysis!! GPL will move very soon to higher highs $10++!! Only profits from here showing great ROI for GPL!! arttman thank you great info :-)) Ex.... RE: GPL/GPR Great Management The Wolff, I couldn’t agree more. Henderson, our CEO appears to an extremely capable mining engineer... which is exactly what this deposit needed. You can tell he’s not flying around the world trying to make deals. He’s working on the resources and mills to increase productivity, and reduce cost. That’s what I like to see. Allow results speak for themselves.
Correct me if I’m wrong, but I believe this is his first CEO position? I’ve never met him, but from my experience, I expect him to work with a “chip on his shoulder” and prove himself. This is his big chance.
With David Garofalo as the Chairman of the board, as the former CEO of Goldcorp from 2016-2019, which was one of the largest gold companies in the world before it merged with Newmont mining.... and previous to that David was CEO of Hudbay Minerals. I would expect strong PR from him on the golf courses, and board rooms of the world. Word is going to spread fast of the extreme undervaluation of Great Panther.
With this team I wouldn’t be surprised of a re-rating after a few quarters where Great panther is trading at a premium to its peers.
Just my opinion. By The Alchemist
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 price 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.
Shares added over 7% in New York to US$0.97.
---Updates for share price---
Contact the author at giles@proactiveinvestors.com
Quick facts: Great Panther Mining Limited Price: 1.28 CAD
TSX:GPR
Great Panther Silver, Ltd. (GPL) / GPR | NYSE American GPL