Great Panther Silver Reports Second Quarter Production

On July 12, Great Panther Silver (TSX: GPR and NYSE Amex: GPL) reported second quarter (“Q2”) production at its two wholly-owned Mexican silver mining operations, Topia and Guanajuato.

Metal production from the two mines, at 562,944 silver equivalent ounces (“Ag eq oz”), including 386,209 ounces silver, 1,931 ounces gold, 266 tonnes lead, and 348 tonnes zinc, is within 2% of production for the second quarter 2010. Plant throughput is up by an average of 30% compared to Q2 2010, however, ore grades were lower than anticipated. Record quarterly metal production of 212,108 Ag eq oz was achieved at Topia, including record silver production of 143,774 silver ounces (“Ag oz”).

For the year to date, the combined metal production, at 1.17 million Ag eq oz, is up 6% from a year ago and the production rate is expected to increase further in the second half of the year.

The following summarizes the main highlights for the second quarter, 2011:

—  Metal production of 562,944 Ag eq oz is down 2% from Q2, 2010.
—  Silver production of 386,209 Ag oz is down 6% from Q2, 2010.
—  Gold production of 1,931 Au oz is up 31% from Q2, 2010.
—  Metal production at Topia of 212,108 Ag Eq oz is up 3% from Q2, 2010 and
    is a quarterly record.
—  Silver production at Topia of 143,774 oz Ag is up 18% from Q2, 2010 and
    is a quarterly record.
—  Plant throughput at both operations is up by a record 30% over Q2 2010.
—  Exploration drilling continues from surface at San Ignacio and from
    underground at Rayas and Guanajuatito in Guanajuato.
—  Surface drilling program for Topia to start in the near term.

(For consistency, silver equivalents for 2011 have been established and maintained using budget prices of US$1200/oz Au, US$20/oz Ag, US$0.90/lb Pb and Zn.)

Read More

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: