Great Panther Silver (NYSE-Amex: GPL; TSX: GPR) produced 410,640 ounces of silver, 2,310 ounces of gold, 241 tonnes of lead, and 345 tonnes of zinc in Q1 2011. Compared to Q1 2010, silver is up 15%, gold is up 45%, lead is down 17% and zinc is unchanged. The combined metal production of 607,225 silver equivalent ounces is 7% higher than Q4 2010 and 15% higher than Q1 2010.
Guanajuato metal production of 406,419 silver equivalent ounces is up 29% from a year ago while Topia silver production, at 137,219 Ag oz, is a quarterly record.
This is a great start to 2011 for Great Panther Silver. The Company is in year 2 of a 3-year strategic growth plan and appears on track to hit its targets. And with silver over $41/ounce, we are optimistic about the Company’s anticipated revenue and earnings numbers when they become available.