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Tag: Great Panther Mining Ltd.

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Coverage Update – Discontinuing Coverage

February 4, 2022

As a result of the reallocation of resources, Red Cloud is discontinuing coverage on the following companies: Arianne Phosphate Inc. (TSXV:DAN) – now unrated (was BUY, C$1.50/sh target, Timothy Lee), Brixton Metals Corp. (TSXV:BBB) – now unrated (was BUY, C$0.50/sh target, Taylor Combaluzier), Fiore Gold Ltd. (TSXV:F) – now unrated (was BUY, C$2.50/sh target, Timothy Lee), Gold79 Mines Ltd. (TSXV:AUU) – now unrated (was BUY (S), Taylor Combaluzier), Great Panther Mining Ltd. (TSX:GPR) – now unrated (was BUY, C$1.40/sh target, Timothy Lee). Our previous estimates should no longer be relied upon.

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Great Panther Mining Ltd. (TSX:GPR) – Lower Earnings with UCS Shutdown; Guidance Lowered

November 5, 2021

Great Panther reported financial results for Q3/21. The company had previously reported production numbers on October 8 (read more). The negative impacts from multiple, largely temporary factors including reduced production were reflected in the financial results. GPR’s financial results are in line with our expectations, given previously reported production numbers. However, it has further lowered production guidance for the year, due to the pit wall stability issues at Tucano and permitting delays for tailings expansion at the Guanajuato Mine Complex (GMC).

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Q3 Producer Preview & Commodity Price Update – Lowering Gold Price Forecasts While Most Commodities Increased

October 13, 2021

Q3 operating and financial results are to be announced over the next few weeks. While gold is out of favour, prices have been trading within a narrow window that have allowed companies to continue to turn profits, despite an uncertain outlook. Late summer was hard on most commodities as precious and industrial metals alike fell on a slowdown in global economic growth due to surging fuel prices, Chinese power restrictions, labour shortages, disrupted global supply chains and a stronger USD. Metal prices came under further pressure as major property developer Evergrande missed further bond payments, impacting iron ore and copper prices. With this update, we provide new commodity price and FX forecasts, updated coverage estimates, and a fresh set of top picks.

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Great Panther Mining Ltd. (TSX:GPR) – Q3/21 Production Lower; FY2021 Guidance Revised

October 12, 2021

Great Panther released Q3/21 production results from its three wholly-owned mining operations: Tucano in Brazil, and Topia and the Guanajuato Mine Complex (GMC) in Mexico. The quarter saw overall production of 22,444 oz AuEq (-44% YoY). Additionally, at the company’s two silver mines in Mexico, production was 21% below what was planned. The company attributed the slowdowns at Tucano to weather conditions, resulting in pit wall stability issues, and to equipment maintenance issues. The lower production in Mexico was due in large part to implementing changes to fit new labour laws. We believe the production challenges this year, particularly at the flagship Tucano mine, are due to temporary factors, and we had already assumed conservative production results in our model. We continue to like Great Panther’s long-term prospects.

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Great Panther Mining Ltd. (TSX:GPR) – TAP C Drill Results, Regional Exploration Show Tucano Upside

September 8, 2021

Great Panther reported Phase 2 drilling and regional exploration results from its 100%-owned Tucano gold mine in Brazil. To date, most of the drilling has focused on the 7km mine trend, which hosts multiple open pits. The remainder of the ~2,000km2 property has seen limited historic exploration, and the company is conducting a regional program focused on identifying targets within 20km of the mine. We believe the greenstone belt has great exploration upside and the company has the possibility of making a new discovery in this area. Additionally, TAP C could give Tucano operational flexibility with new production fronts from shallow pits close to the plant.

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Great Panther Mining Ltd. (TSX:GPR) – Earnings Reflect Pit Shutdown; Guidance Lowered

August 6, 2021

Great Panther reported financial results for Q2/21. The company had previously reported production numbers on July 14 (read more), including the negative impact of pit wall stability issues, and the financial results reflect the impact of the reduced production. GPR’s financial performance is about in line with our expectations, given the previously reported production numbers. However, it has further lowered production guidance for the year, due to a combination of the pit wall stability issues at Tucano and concerns about permits for tailings expansion at the Guanajuato Mine Complex (GMC) in Mexico.

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