Company Information for Great Panther Resources Limited

Company stock charts - 12 Month chart

TSX; GPR View full financial data

Company Statement

Great Panther Resources 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.

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 184,000 silver equivalent ounces by the last quarter of 2007, indicating a significant improvement in the ore grade to 71.2% for silver and 77.1% for gold. In all, Ag Eq production from the Guanajuato Mine complex for 2007 was 710,903 oz.

Mapimi Project
The company is engaged in an extensive diamond drilling program on the Mapimi property. In phase 1 of the current drilling program the company completed 6,300m of diamond drilling in 29 holes. The aim of this first phase was to further define the existing resource at the La Gloria and Las Palmitas Zones. The company has also completed a program of airborne and ground-based geophysics with the aim of identifying structural controls and breccia fields, and to pinpoint sulphide mineralization for further testing in the next phase of drilling which began on Novemver 1st, 2007.

Mapimi is viewed as an advanced stage exploration project that could be developed quickly with the goal of defining a new resource amenable to open pit mining, thereby significantly enhancing Great Panther's growing portfolio of silver projects.

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

Related News

Most Recent Statement