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Company Statement
Great Panther Silver Limited is a primary silver producer with two operating mines in Mexico owned 100% by the Company. The centerpiece of the Company's operations is the world class Guanajuato Silver-Gold Mine in the state of Guanajuato. In addition to growing production at the mine, Great Panther has discovered new zones of mineralization by surface drilling and is extending known high grade silver-gold zones to depth below the existing workings.
Great Panther's first acquisition was the high grade Topia Silver-Lead-Zinc Mine in Durango State. The Company has increased production to a new all time high and is growing the resource base through continued surface drilling and underground development.
In late 2008, Great Panther responded to lower commodity prices and higher costs by implementing a stringent cost reduction program. Despite this, the Company still set new production records in the fourth quarter and increased annual production by 35.5% over 2007, to 1.81 million oz. silver equivalent. Silver production in 2009 is expected to increase by approximately 20%, with costs reduced to the level of US$7/oz Ag net of byproduct credits.
Great Panther is staying true to its original business model of building a top primary silver producer through a solid foundation of expanding production while maintaining profitability.
Current Operations
Topia Mine
Since 2005, MMR staff has been continually re-assessing the Topia mine, and resampling the veins to confirm that the resource blocks outlined by Penoles are viable targets. This exploration work has been very successful and data derived from it will be used in the upcoming resource calculation.
A comprehensive surface and underground drill program, begun in July 2006 has targeted potential resource blocks and explored several veins which have had little or no previous exploitation. Data from these 66 holes (Feb 2008) will also be used in the upcoming resource evaluation.
Guanajuato Mines
The Company officially commenced production at Guanajuato in June 2006 at a throughput of 400 tonnes per day (tpd). Commissioning of the plant had commenced in late March 2006 using low grade mineralization from older stockpiles. The other two 400 tonne ball mills and the flotation circuits in the mill have since been refurbished, allowing the mill to operate at its peak capacity of 1200 tpd. When operating at peak output, the mine will employ about 300 people working 3 shifts per day, 7 days per week.
Output from the Guanajuato Mines has climbed considerably since production began. It rose from just over 70,000 silver-equivalent ounces in the last quarter of 2006 to over 235,000 silver equivalent ounces by the third quarter of 2008, indicating a significant improvement in the ore recoveries to 84.0% for silver and 78.3% for gold.
San Antonio Project
Mapping and sampling in the area of a new silver-lead-zinc discovery, has assisted in generating additional drill targets for the 2007 drill program which began on November 13th, 2007. A minimum of nine holes are planned to test mineralization at 7 occurrences on the property. Great Panther hopes to demonstrate the potential for the San Antonio Property to host a deposit containing at least a million ounces of gold.
Geographical Spread
Central and north-western Mexico
Board of Directors and Key Management
| BOARD OF DIRECTORS & MANAGEMENT | |
| Kaare G. Foy, B.Ec. | Executive Chairman |
| Robert A. Archer, P.Geo. | Chief Executive Officer & President |
| Malcolm A. Burne | Director |
| John T. Kopcheff, B.Sc. (Hons) | Director |
| Martin Carsky CA | Director |
| MANAGEMENT | |
| Raakel Iskanius | Chief Financial Officer |
| Charles Brown | Chief Operating Officer |
| Ing. Francisco Ramos Sanchez | Vice-President of Business Development |
| Ing. Carlos Castro Villalobos | General Manager, Guanajuato Mine Complex |
| Ing. Javier Ramirez Vargas | General Manager, Topia Mine |
| Robert Brown, P.Eng. | Vice President of Exploration |
Company Address2100-1177 W. Hastings Street
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Additional Address/Key ContactInvestor Relations: |
CapitalShares Issued: 113,350,512
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Related News
12/01/10 - Great Panther Reports Record Silver Production From Its Mexican Mines, But You Ain’t Seen Nothing Yet!26/08/09 - Costs Are Down At Great Panther’s Mexican Silver Mines, And Profits Are Up
29/06/09 - Great Future for Great Panther: Costs Are Down, Profits Are Up, And Now It’s Time To Hit The Acquisition Trail
26/02/09 - Great Panther Leaps Back From The Brink: Leaner, Fitter, And Well Set To Produce Over Two Million Ounces Of Silver Profitably This Year
06/11/08 - Great Panther Is Still Mining Profitably Out In Mexico, But There’s No Denying The Squeeze Is On
03/04/08 - Great Panther Leaps Forward: This Year Promises Increased Production And More Silver Ounces In The Ground
Most Recent Statement
18/03/10 - Great Panther Silver Reports Fourth Quarter Net Profit of $1.0 Million10/03/10 - Great Panther Commences 6,000 Metre Drill Program at Topia Mine
03/02/10 - Great Panther Commences Deep Underground Drill Program, Updates Santa Margarita And Los Pozos Development At Guanajuato
11/01/10 - Great Panther Exceeds Production Target For 2009 with Record Fourth Quarter
21/12/09 - Shareholders Approve Name Change To Great Panther Silver
16/12/09 - Great Panther Acquires Strategic Claim at Topia