Gold Miner Shows Solid Production, Minimal COVID-19 Impacts in Q1/20

Source: Streetwise Reports   04/16/2020

Great Panther Mining’s activities during the year’s first quarter are summarized in a ROTH Capital Partners report.

In an April 13 research note, ROTH Capital Partners analyst Jake Sekelsky reported that Great Panther Mining Ltd. (GPR:TSX; GPL:NYSE.American) had strong Q1/20 production with limited effects from the COVID-19 pandemic.

Sekelsky reviewed what the precious metals miner accomplished during Q1/20.

For one, Gold Panther produced 34,725 ounces of gold equivalent (Au eq), which was generally consistent with ROTH’s estimate of 35,631 ounces of Au eq.

Also during that period, the British Columbia-based company started advanced stripped of material at the Tucano gold mine in Brazil.

Further, Great Panther progressed with remedial activities at Tucano’s Urucum Central South (UCS) pit because the weather was favorable. “We continue to view a potential positive outcome of the geotechnical review at UCS as a major catalyst for shares in H2/20,” Sekelsky wrote.

He concluded that Great Panther’s “management has taken prudent steps to derisk Tucano while remaining transparent with the market. In short, we believe these efforts should support the company in outlining a sustainable medium-term mine plan at Tucano.”

As for its 2020 production guidance, Great Panther should be able to produce 120,000–130,000 ounces of gold equivalent if Tucano continues to operate uninterrupted, Sekelsky purported. This is for two reasons. One, most of Great Panther’s consolidated production comes from Tucano, and two, Tucano is the company’s only operating mine right now. The producer previously suspended its Mexico operations due to coronavirus restrictions.

ROTH has a Buy rating and a US$0.70 per share price target on Great Panther, the stock of which is currently trading at around US$0.49 per share.

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Disclosures from ROTH Capital Partners, Great Panther Mining, Company Note, April 13, 2020

Regulation Analyst Certification (“Reg AC”): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

ROTH makes a market in shares of Great Panther Mining and as such, buys and sells from customers on a principal basis.

Shares of Great Panther Mining may be subject to the Securities and Exchange Commission’s Penny Stock Rules, which may set forth sales practice requirements for certain low-priced securities.

ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months.

( Companies Mentioned: GPR:TSX; GPL:NYSE.American,
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