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Great Panther Silver Reports Fourth Quarter and Annual 2018 Production Results and Provides Corporate Update

Mining News - Published on Fri, 11 Jan 2019

Image Source: Newswire.CA
Great Panther Silver announced its fourth quarter and 2018 production results from its two wholly-owned Mexican mining operations: the Guanajuato Mine Complex, which includes the San Ignacio Mine, and the Topia Mine in Durango. James Bannantine, President & CEO, said “We achieved the higher end of our guidance for the year, while also advancing our previously announced realignment of Mexican operations to reduce mining from higher cost areas of our Guanajuato Mine which, along with the San Ignacio Mine, forms our Guanajuato Mine Complex. This strategy was taken in response to lower metal prices to reduce our cost profile.”

(1) Silver equivalent ounces for 2018 were calculated using an 80:1 Au:Ag ratio, and ratios of 1:0.0636 and 1:0.0818 for the price/ounce of silver to price/pound of lead and zinc, respectively. The ratios are reflective of average metal prices for 2018.

(2) Silver equivalent ounces for 2017 were calculated using a 70:1 Au:Ag ratio, and ratios of 1:0.0559 and 1:0.0676 for the price/ounce of silver to price/pound of lead and zinc, respectively, and are reflective of average metal prices for 2017.

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Posted By : Rabi Wangkhem on Fri, 11 Jan 2019
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