Great Panther Silver Reports $11.5 Million in Earnings on $57.8 Million in Sales

Great Panther Silver (NYSE-Amex: GPL; TSX: GPR) increased revenue for fiscal year 2011 by 37% to $57.8 million.  The Company’s gross profit or earnings from mining operations increased by 64% to $26.9 million for 2011, and net earnings increased 8% to $11.5 million.  Additional highlights from 2011 include:

• 64% increase in Adjusted EBITDA (refer to “Non-IFRS Measures” below) to $24.7 million;
• 70% increase in net cash from operating activities to $19.1 million for 2011;
• Cash and cash equivalents increased to $39.4 million at December 31, 2011, from $14.0 million at December 31, 2010;
• Working capital increased to $53.8 million at December 31, 2011 from $18.8 million at December 31, 2010;
• 19% increase in mined and processed ore to 216,181 tonnes from 182,393 tonnes for 2010; and
• Closed bought deal financing with a syndicate of underwriters for $22.5 million in net proceeds.

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Great Panther Silver Schedules Conference Call for Q4 and 2011 Year End Results

Great Panther Silver (NYSE-Amex: GPL; TSX: GPR) will release its 2011 fourth quarter and year-end consolidated financial results on Monday, March 12, 2012 after market close. A conference call to discuss the results has been scheduled for Tuesday, March 13, 2012 at 7:00 AM Pacific Standard Time, 10:00 AM Eastern Standard Time.  To participate in the call, please use the following conference call numbers:

Dial in number (Toll Free): 1-877-407-8033
Dial in number (International): +1-201-689-8033
No passcode is required

Replay number (Toll Free): 1-877-660-6853
Replay number (International): +1-201-612-7415
Replay Passcodes (both are required for playback):
Account #: 286
Conference ID #: 389736

A replay of the teleconference call will be available on March 13, 2012 from 10:00 AM Pacific Standard Time, 1:00 PM Eastern Standard Time until March 29, 2012 by dialing the numbers above. In addition, the call will be archived on the Company’s website.

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Great Panther Improves Fourth Quarter Production

Great Panther Silver (NYSE-Amex: GPL; TSX: GPR) reported 4th quarter production of 545,294 silver equivalent ounces, an increase of 13% over the 3rd quarter.  For the year ended December 31, 2011, metal production totaled 2,200,013 silver equivalent ounces, in line with October’s revised production guidance. 

Below are fourth quarter highlights:

• Metal production of 545,294 Ag eq oz, up 13% from previous quarter;
• Silver production of 354,754 ounces (“Ag oz”), up 3% from previous quarter;
• Gold production of 2,281 ounces (“Au oz”), up 53% from previous quarter; and
• Ore grades improved at Guanajuato, to 235g/t Ag and 2.12g/t Au, in November and December, the highest since September, 2010.

Below are highlights for fiscal 2011:

• Achieved revised metal production target of 2.2 million Ag eq oz (down 2%);
• Silver production of 1,495,371 oz (down 3%);
• Record gold production of 8,015 oz (up 11%);
• Record silver production at Topia of 535,881 oz (up 4%);
• Record gold production at Guanajuato of 7,515 oz (up 14%); and
• Record metallurgical recoveries at Guanajuato of 88.5% for Ag and 90.7% for Au (up 1% and 2%, respectively).

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Thom@Large: Wheelchairs in West Africa

BabyBulls (ACCRA, Ghana) – Three companies, including our own African Gold Group (OTC Other: AGGFF; TSX-V: AGG), participated in a wheelchair donation program in West Africa this month.  The wheelchairs go to needy residents of areas where metals prospectors and miners work. In this case, the good news came to 260 chairs in Mali and 260 in Ghana.

A longtime friend, Gordon Holmes of The Gold Report, spearheaded the wheelchair idea a few years ago via a winery he owns up the freeway from where I live in northern California.

“Each shipping container holds 260 chairs,” Gordon told me today (Thursday).

I got to experience the wheelchair spirit in November, when Great Panther Silver, another of our Torrey Hills clients, and Endeavour Silver chipped in to donate a bunch of them near Guanajuato in Mexico. The emotion was intense.

Q & A with Great Panther Silver’s President & CEO, Bob Archer

BabyBulls (SAN DIEGO) – BabyBulls recently spoke with Bob Archer, President and CEO of Great Panther Silver (NYSE-Amex: GPL; TSX: GPR).  In this interview, Bob discusses the Company’s two wholly owned mines in Mexico and detailed expectations for the Company as we begin 2012.

Great Panther Eliminates Concentrate Inventory Backlog and Provides 2012 Production Estimates

Great Panther Silver (NYSE-Amex: GPL; TSX: GPR) has finalized arrangements to sell all available concentrate inventories from Guanajuato before year end and is well advanced in securing new contracts for fiscal 2012 concentrate sales for both the Guanajuato and Topia Mines. This will ensure strong fourth quarter revenues which will balance out the previous revenue shortfall in the second quarter.

Looking forward to next year, the Company expects metal production growth of approximately 20% year on year from its two wholly owned Mexican silver operations. The Company estimates metal production in the range of 2.50 to 2.75 million silver equivalent ounces for fiscal 2012.

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Great Panther Silver Updates Drilling Results for San Ignacio Property, Guanajuato; Grants Stock Options to New Personnel

Great Panther Silver Ltd. (TSX: GPR; AMEX: GPL) provided an update today on a further 12 surface diamond drill holes from their ongoing program at the Company’s wholly-owned San Ignacio Project in Guanajuato, Mexico. Drill-holes ESI11-039 to ESI11-050, inclusive, were drilled from section 450N to section 700N, confirming vein continuity with mineralized vein widths of up to nine metres, and in-filling the Intermediate zone extension to the south, and defining the Nombre de Dios zone. Assays from drill core continue to demonstrate higher gold:silver ratios than at the main Guanajuato Mine.

Highlights of the Intermediate zone drilling include 213g/t silver and 5.12g/t gold over a true width of 3.26 metres, and 201g/t silver and 6.34g/t gold over a true width of 4.96 metres in ESI11-039 (section 450N).

Presently, and through to February 2012, the drill rig is completing fill-in holes to upgrade the mineral resource estimate, anticipated near the end of the second quarter of 2012. A second drill will be added to the project in the first quarter 2012 to expand the drilling south of section 450N for approximately 800 metres, northwards of section 900N for approximately 300 metres, and to initially test a 600 metre strike portion on the southern San Antonio claim.

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Thom Calandra: Four Actions to Take Right Now

SAN FRANCISCO – This is one of those “Things You Must Do Before The New Year.”

Here at Torrey Hills Capital’s Baby Bulls, I am altering that hackneyed come-on to this: Four Actions For Right Now. (Whose New Year are we talking about, anyway?)

1.    Buy low. Tax-loss selling season has driven more than several metals equities to prices not seen since 2009. These include Platinum Group Metals (PLG and T.PTM), Great Basin Gold (GBG and T.GBG), Great Panther Silver (GPL and T.GPR) and Canaco Resources (V.CAN). I own all four, and there are others in my portfolio that are depressed and deserve a look-see, including Golden Valley Mines (V.GZZ), Solvista (V.SVV) and Gold Standard Ventures (V.GV). (See portfolio holdings link below.) PLG, GZZ, GV and GPL are investor-outreach clients of Torrey Hills Capital – meaning the firm, including me, can benefit if stock options we have received in payment for services rise in value. (All photos Thom Calandra)

Great Panther Confirms Continuity at Santa Margarita and Extends Guanajuatito Mineralized Zone to Depth

Great Panther Silver (NYSE-Amex: GPL; TSX: GPR), as a result of recently completed drilling programs, has confirmed continuity of the Santa Margarita gold-silver vein plus two footwall veins between the 435 and 500 metre levels and has extended the Guanajuatito silver-gold mineralization below the 100 metre level, down to the 390 metre level.

At Santa Margarita, initial results have confirmed the high grade gold values typical of the SM structure (mostly electrum, a naturally-occurring gold-silver alloy) and drilling has regularly encountered two stockwork dominant footwall zones that are persistent between drill holes. The two footwall zones plus part of the main vein are classified as inferred in the current mineral resource estimate and will be upgraded in the resource update presently being prepared.  Intersections on the Santa Margarita structure include 44.76g/t gold and 46g/t silver over a true width of 1.14 metres in drill hole UGSM11-005.

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Thom Calandra: Taking Calculated Yet Extreme Risks in Mining

Thom Calandra, a long-time journalist and mining investor, knows what risks to stomach in search of jaw-dropping returns. Geopolitical risk, for one. Karen Roche of The Gold Report caught up with him at The New Orleans Investment Conference to see what this 30-year veteran of analyzing financial markets took away from the event. In this interview, Calandra revealed what mining gems he’ll be eyeing for his portfolio and why he’ll never invest without setting foot on a project first.

The Gold Report: Thom, you’ve been able to identify some tenfold-return candidates in Ghana, Colombia, Sierra Leone, Quebec and Ethiopia. What creates a candidate that can give you a 10x return and how does one find these candidates?

Thom Calandra: Karen, I’ve been a financial journalist for 30 years. I’ve focused entirely on natural resources for the past 12 years. I’m also a very heavy investor and I do some investor relations on the side. That combination gives me the ability to meet people a retail investor might not. I like to think I know most of the companies out there with interesting projects.