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:

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."

Bhakti Pavani, Euro Pacific Capital (8/5/16)
"Great Panther Silver Inc. reported 2Q/16 revenue/loss-per-share of C $25.6MM/(C$0.01) vs. our revenue/EPS estimate of C$22.3MM/C$0.01, respectively.. . .The Company has a very strong Balance Sheet with pro forma cash of ~C$66MM and no debt. . .The Company has announced a 7,500-meter drilling program at its operating mines: 1,000-meter drilling program at Santa Rosa and 1,500-meter drilling program at El Horcon. . .We believe the Company has enough liquidity to fund its capital spending and exploration drilling program and make an acquisition in the near future."

Brien Lundin, Gold Newsletter (Jefferson Financial) (8/1/16)
Between the cash flow from operations and the infusion provided by a recently closed bought-deal offering, Great Panther Silver Ltd.'s treasury should be flush for the foreseeable future. . .Great Panther should continue to benefit from (and provide leverage on) rising precious metals prices. Given that its operations are chugging along well, I see no reason why the company can't move higher in the back half of the year."

"In the wake of Great Panther Silver Ltd.'s Q2/16 production results, Heiko Ihle of Rodman & Renshaw released a report that outlined the reasons behind a target price increase to $2.25/share, among them a "fully stocked" treasury following a recent bought-deal equity financing, stable production at San Ignacio and the company's focus on maintaining "low operating costs across its existing asset base while continuing to evaluate strategic external growth opportunities." Ihle noted that Rodman & Renshaw has not increased its "silver price deck from $17.50. . .any such changes should benefit companies with meaningful silver production such as Great Panther." read more >

More Expert Comments

Experts Following This Company

Ash Guglani, Analyst – Salman Partners
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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