Great Panther Silver Ltd.

Great Panther Silver Ltd. is a primary silver mining and exploration company. The company's current activities are focused on the mining of precious metals from its two wholly owned operating mines in Mexico: the Guanajuato mine complex, which includes the San Ignacio satellite mine, and the Topia mine in Durango. The company also has two exploration projects in Mexico, El Horcon and Santa Rosa, and is pursuing additional mining opportunities in the Americas.

Expert Comments:

Heiko Ihle, Rodman & Renshaw (11/4/16)
"Great Panther Silver Ltd. reported net income of $2.1 million, which we feel was achieved primarily due to continued cost reduction across the firm's assets, coupled with a change in reporting currency to US$ resulting in the elimination of a non-cash foreign currency loss that had been reported in the past. . .we highlight that silver equivalent production to date has reached approximately 3.2 million ounces, which we feel strongly positions the firm to meet management's guidance of 4.0-4.2 million silver equivalent ounces as well as beat our estimate of just over 4.0 million silver equivalent ounces."

Bhakti Pavani, Euro Pacific Canada (11/4/16)
"Great Panther Silver Ltd. reported revenue/EPS of US$15.6MM/US$0.01. . .the production cost, general and administrative expenses and exploration, evaluation, and development expenses were all below our estimate. . .with an increase in gold prices, the Company should earn higher gold by-product credits. . .given the operating performance of the Company for the first nine months, we believe the Company might beat its own revised cash cost guidance of $4.00-$6.00."

Brien Lundin, Gold Investment Letter (11/1/16)
"Great Panther Silver Ltd. announced lower gold and silver production from Guanajuato and Topia, its two operating mines in Mexico. . .Great Panther remains on track to meet its 2016 production guidance. . .share price didn’t budge much on this news, a sign that the market is well aware of Great Panther’s ability to deliver leverage on rising precious metals prices. It remains one of the key holdings in our portfolio of Mexican silver producers and a hold at current trading levels."

Production numbers were lower than expected for Q3/16, but analysts following Great Panther Silver remain buoyed both by the company's financial strength and silver output from its Guanajuato Mine Complex.
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Bhakti Pavani, Euro Pacific Capital (10/13/16)
"Given the environment in the metals and mining industry, Great Panther Silver Ltd. has successfully managed to lower its cash cost and all-in sustaining cost. . .Great Panther owns the Guanajuato Mines Complex, which we value at C$282.8 million, or C$1.52 per share. . .this valuation accounts for the strong market position that Great Panther has in the Guanajuato area,. . .the firm owns the Topia Mine, which we value at C$49.7 million, or C$0.27 per share. . .This estimate, calculated by using an 7% discount rate, seems appropriate due to the longstanding history of silver production in the area."

Heiko Ihle, Rodman & Renshaw (10/13/16)
"We feel Great Panther Silver Ltd. is in a strong position to evaluate and ultimately execute an acquisition that should add production capabilities to the firm’s portfolio of producing assets. . .we are reiterating a Buy rating and $2.50 per share price target. . .as previously mentioned, we continue to like the firm’s strong balance sheet with an estimated pro forma cash position of over $45.0 million and no debt. . .given this, we expect the firm to evaluate opportunities to expand its existing portfolio of producing assets in the near term."

Heiko Ihle, Rodman & Renshaw (8/5/16)
"In our view, higher silver prices throughout H2/16 coupled with the elimination of one-time negative charges should place Great Panther Silver Ltd. in strong position to return to profitability during the remainder of the year. . .the company achieved impressive reductions in costs during the quarter as cash costs fell to $1.72 per ounce and all-in sustaining costs fell to $7.19 per ounce. . .we think the firm is well positioned to continue to produce at a steady state while improving costs and evaluating external opportunities for a potentially transformative acquisition."

More Expert Comments

Experts Following This Company

Heiko Ihle, Managing Director – H.C. Wainwright & Co., Rodman & Renshaw
Brien Lundin, Author Gold Newsletter (Jefferson Financial)
Bhakti Pavani – Euro Pacific Canada

The information provided above is from analysts, newsletters, the company and other contributors.

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