DESCRIPTION:  Great Panther Silver Limited is one of the fastest growing primary silver producers in Mexico with strong leverage to future rises in the price of silver. The company owns a 100% interest in two operating mines and two high quality exploration projects in Mexico, and employs almost 600 people. With strong, established local management and infrastructure, Great Panther's immediate goal is to realize positive cash flow through progressively increasing production.

Watch Great Panther Resources Corporate Presentation.

"A silver bullet on a bad day. Bucking the trend on what was a dismal day for precious metals producers, shares of Great Panther Silver were in the green Tuesday after reporting 2009 metal production that beat its earlier estimates by 6%. The company attributed the outperformance to improved performance at its two Mexican mines. Great Panther also backed its 2010 production outlook. Yearly production came in at 2,202,456 silver equivalent ounces, higher than the previous target of 2.07 million ounces. Metal production for the fourth quarter rose 26% to 625,288 silver equivalent ounces, as its mines at Topia and Guanajuato reportedly continued to ramp up operations. During the most recent quarter, silver production increased 9% to 390,026 ounces, while gold production was up 53% at 2,456 ounces, from the year-ago period. Looking ahead, Great Panther expects to produce 3.8 million silver equivalent ounces by 2012."
    -   Morning Coffee, Canaccord Capital (01/13/10)

"Great Panther [TSX: GPR] surpassed its own 2009 production targets by 6% posting a yearly production of 2,202,456 silver equivalent ounces up 22% from 2008, giving credence to its 2010 production forecast of 2.5 million ounces.

The company has successfully ramped up production at its Topia and Guanajuato mine in Mexico, which helped raise its fourth quarter production by 26%. The miner is looking to produce 3.8 million silver equivalent ounces annually by 2012.

On Tuesday, shares of Great Panther on the TSX were trading at $1.12."
    -   Melissa Pistilli, Silver Investing News (01/12/10)

"Great Panther is arguably the best example of how a junior mining company can leverage red-hot precious metals prices to improve financial performance and long-term growth. The share price of this silver miner has ascended from 28 cents at the close of 2008, pushed through a buck a share a couple of times this fall, and settled back to the 80- to 90-cent range in recent weeks. The reasons? Strong financial performance, steady increases in production and a new strategy to accelerate production. Great Panther's third quarter financial results showcase this progress and performance nicely. For the nine months ended September 30, revenue was C$21.9 million, a 29% increase over the previous year. Cash operating costs per ounce of silver, mean- while, fell 48% to $5.86 for the first nine months of this year. Earnings from mining operations consequently climbed to C$9.8 million from C$2.8 million a year earlier, a 350% increase.

The company is on track to report its third consecutive year of record earnings from mining operations. Great Panther is still not profitable, but it is generating cash flow. So far this year, it has dug up C$2.0 million in cash from operations. That's not huge, but it's a far sight better than the C$3.0 million in cash it burned during the same period in 2008.

The company is well-financed, having recently completed a C$12.3 million offering that it will use to accelerate its growth strategy. This, in turn, should accelerate the share price. And, since 70% of its revenue comes from silver, it may also benefit from a proposed name change to Great Panther Silver Limited. Great Panther remains a buy."
    -   Gold Newsletter (01/11/10)

"Great Panther Silver Limited (TSX:GPR) has done a lot of drilling at their Guanajuato Mines and they're seeing some very good grades and widths. But it's much deeper, so they're going to have a lot of cap-ex to build new shafts and ramps to access the ore. This is a silver mine with gold credits, which I like. Meanwhile, they have continued to do a very good job at their Topia Mine—making improvements to lower cash costs and increasing resources there. But that is a poly-metallic mine and, as we discussed in Part I, it's challenging these days to get cash costs down on silver when you're dealing with lead and zinc concentrates and having to send it to the smelter. But Topia's grades are over 450gpt silver with 3% lead and 3% zinc, so they are able to deal with the processing costs. They have steadily increased production for the past four years; hopefully they will now start showing some significant profits, as well."
    -   The Gold Report Interview with Trey Wasser (Pt. II) (01/11/10)

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