{"id":837314,"date":"2018-07-10T12:56:18","date_gmt":"2018-07-10T12:56:18","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=837314"},"modified":"2018-07-10T12:56:18","modified_gmt":"2018-07-10T12:56:18","slug":"great-panther-silver-reports-second-quarter-2018-production-results-and-provides-coricancha-update-2","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=837314","title":{"rendered":"Great Panther Silver Reports Second Quarter 2018 Production Results and Provides Coricancha Update"},"content":{"rendered":"<p><span style=\"font-style:italic;font-size:16px\">By  <a target=\"_blank\" href=\"https:\/\/investingnews.com\/daily\/resource-investing\/precious-metals-investing\/gold-investing\/great-panther-silver-reports-second-quarter-2018-production-results-and-provides-coricancha-update\/\">Hamza Ghaznavi<\/a><\/span>  <\/p>\n<p><a target=\"_blank\" href=\"https:\/\/investingnews.com\/company-profiles\/great-panther-silver-exploring-silver-mining-in-latin-america\/\">Great Panther Silver<\/a> (TSX:<a target=\"_blank\" href=\"https:\/\/investingnews.com\/stock-information\/?symbol=gpr:ca\">GPR<\/a>) announces production results for the second quarter (\u201cQ2\u201d) 2018 from its two wholly-owned Mexican silver mining operations: the Guanajuato Mine Complex (\u201cGMC\u201d), which includes the San Ignacio Mine, and the Topia Mine in Durango.<\/p>\n<p>Second Quarter 2018 Production Highlights (Compared to Second Quarter 2017)<\/p>\n<ul>\n<li>Consolidated metal production decreased 9% to 1,002,169 silver equivalent ounces (\u201cAg eq oz\u201d)<\/li>\n<li>Silver production decreased 16% to 479,809 silver ounces (\u201cAg oz\u201d)<\/li>\n<li>Gold production decreased 1% to 5,492 gold ounces (\u201cAu oz\u201d)<\/li>\n<li>Ore processed decreased 3% to 95,169 tonnes<\/li>\n<\/ul>\n<p>\u201cWhile production during the second quarter was somewhat lower than planned due to heavier than usual rainfall at our Guanajuato Mine Complex, we continue to expect to meet our production guidance for 2018\u201d, stated James Bannantine, President &amp; CEO. \u201cIn addition, we are very pleased with the positive results of our recently announced Preliminary Economic Assessment for the Coricancha Mine in Peru. We have now begun preparations for the Bulk Sample Program and look forward to providing further updates as we continue to advance the project.\u201d<\/p>\n<div>\n<div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td colspan=\"7\"><\/td>\n<\/tr>\n<tr>\n<td nowrap>Consolidated Operations Summary<\/td>\n<td nowrap>Q2 2018<\/td>\n<td nowrap>Q2 2017<\/td>\n<td nowrap>Change<\/td>\n<td nowrap>Q2 2018<\/td>\n<td nowrap>Q1 2018<\/td>\n<td nowrap>Change<\/td>\n<\/tr>\n<tr>\n<td nowrap>Ore processed (tonnes milled)<\/td>\n<td nowrap>95,169<\/td>\n<td nowrap>98,576<\/td>\n<td nowrap>-3%<\/td>\n<td nowrap>95,169<\/td>\n<td nowrap>96,869<\/td>\n<td nowrap>-2%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Metal production (Silver equivalent<\/p>\n<p>ounces)1<\/p>\n<\/td>\n<td nowrap>1,002,169<\/td>\n<td nowrap>1,102,290<\/td>\n<td nowrap>-9%<\/td>\n<td nowrap>1,002,169<\/td>\n<td nowrap>1,031,937<\/td>\n<td nowrap>-3%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Silver production (ounces)<\/td>\n<td nowrap>479,809<\/td>\n<td nowrap>569,229<\/td>\n<td nowrap>-16%<\/td>\n<td nowrap>479,809<\/td>\n<td nowrap>491,063<\/td>\n<td nowrap>-2%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Gold production (ounces)<\/td>\n<td nowrap>5,492<\/td>\n<td nowrap>5,543<\/td>\n<td nowrap>-1%<\/td>\n<td nowrap>5,492<\/td>\n<td nowrap>5,831<\/td>\n<td nowrap>-6%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Lead production (tonnes)<\/td>\n<td nowrap>480<\/td>\n<td nowrap>405<\/td>\n<td nowrap>18%<\/td>\n<td nowrap>480<\/td>\n<td nowrap>433<\/td>\n<td nowrap>11%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Zinc production (tonnes)<\/td>\n<td nowrap>528<\/td>\n<td nowrap>638<\/td>\n<td nowrap>-17%<\/td>\n<td nowrap>528<\/td>\n<td nowrap>533<\/td>\n<td nowrap>-1%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td colspan=\"30\" nowrap>(1) Silver equivalent ounces were calculated using a 70:1 Au:Ag ratio, and ratios of 1:0.0559 and 1:0.0676 for the price\/ounce of silver<\/p>\n<p>to price\/pound of lead and zinc, respectively.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>Guanajuato Mine Complex<\/p>\n<p>In Q2 2018, total metal production at the GMC was 643,432 Ag eq oz, which represents an 8% decrease compared to the previous quarter, and a 10% decrease compared to the same quarter in the previous year. The decreases are mainly attributed to lower tonnes milled and lower silver grades, partly offset by higher gold grades.<\/p>\n<p>Tonnes milled in Q2 2018 were lower than the previous quarter and the same quarter in the previous year due to a combination of a temporary suspension of processing to ensure safety following heavy rainfall, and a higher proportion of harder ores from the San Ignacio mine, which reduced processing capacity. The San Ignacio mine accounted for 70% of the total ore processed at the GMC in Q2 2018, compared to 55% in Q2 2017 and 65% in the previous quarter.<\/p>\n<p>The lower average grades were in part the result of lower tonnage mined from the Guanajuato mine, which has higher silver grades than the San Ignacio mine. In addition, the silver grades from the Guanajuato mine and the gold grades from the San Ignacio mine were affected by variability in the mineral resource.<\/p>\n<p>During the quarter, 8,059 meters of exploration drilling were completed at the GMC, primarily focused on defining areas in the near-term mine plan.<\/p>\n<div>\n<div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td colspan=\"7\"><\/td>\n<\/tr>\n<tr>\n<td nowrap>GMC Operations Summary<\/td>\n<td nowrap>Q2 2018<\/td>\n<td nowrap>Q2 2017<\/td>\n<td nowrap>Change<\/td>\n<td nowrap>Q2 2018<\/td>\n<td nowrap>Q1 2018<\/td>\n<td nowrap>Change<\/td>\n<\/tr>\n<tr>\n<td nowrap>Ore processed (tonnes milled)<\/td>\n<td nowrap>77,014<\/td>\n<td nowrap>80,535<\/td>\n<td nowrap>-4%<\/td>\n<td nowrap>77,014<\/td>\n<td nowrap>78,919<\/td>\n<td nowrap>-2%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Metal production (Silver equivalent<\/p>\n<p>ounces)1<\/p>\n<\/td>\n<td nowrap>643,432<\/td>\n<td nowrap>715,423<\/td>\n<td nowrap>-10%<\/td>\n<td nowrap>643,432<\/td>\n<td nowrap>695,909<\/td>\n<td nowrap>-8%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Silver production (ounces)<\/td>\n<td nowrap>276,654<\/td>\n<td nowrap>348,130<\/td>\n<td nowrap>-21%<\/td>\n<td nowrap>276,654<\/td>\n<td nowrap>304,863<\/td>\n<td nowrap>-9%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Gold production (ounces)<\/td>\n<td nowrap>5,240<\/td>\n<td nowrap>5,247<\/td>\n<td nowrap>0%<\/td>\n<td nowrap>5,240<\/td>\n<td nowrap>5,586<\/td>\n<td nowrap>-6%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Ag grade (g\/t)<\/td>\n<td nowrap>127<\/td>\n<td nowrap>150<\/td>\n<td nowrap>-15%<\/td>\n<td nowrap>127<\/td>\n<td nowrap>135<\/td>\n<td nowrap>-6%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Au grade (g\/t)<\/td>\n<td nowrap>2.40<\/td>\n<td nowrap>2.32<\/td>\n<td nowrap>3%<\/td>\n<td nowrap>2.40<\/td>\n<td nowrap>2.50<\/td>\n<td nowrap>-4%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Ag recovery (%)<\/td>\n<td nowrap>87.7%<\/td>\n<td nowrap>89.5%<\/td>\n<td nowrap>-2%<\/td>\n<td nowrap>87.7%<\/td>\n<td nowrap>88.8%<\/td>\n<td nowrap>-1%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Au recovery (%)<\/td>\n<td nowrap>88.2%<\/td>\n<td nowrap>87.2%<\/td>\n<td nowrap>1%<\/td>\n<td nowrap>88.2%<\/td>\n<td nowrap>88.0%<\/td>\n<td nowrap>0%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td colspan=\"11\">(1) Silver equivalent ounces were calculated using a 70:1 Au:Ag ratio.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>Topia Mine<\/p>\n<p>Total metal production in Q2 2018 from the Topia Mine was 358,737 Ag eq oz, an increase of 7% over the previous quarter. The rise is attributed to higher silver grades due to the increased proportion of production from higher silver grade zones and improved metallurgical recoveries.<\/p>\n<p>Compared to Q2 2017, total metal production on an Ag eq oz basis decreased 7%, as the comparative quarter reflected higher grades as a result of drawing down on higher grade ore stockpiles following the completion of a plant refurbishment and upgrade.<\/p>\n<div>\n<div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td colspan=\"7\"><\/td>\n<\/tr>\n<tr>\n<td nowrap>Topia Operations Summary<\/td>\n<td nowrap>Q2 2018<\/td>\n<td nowrap>Q2 2017<\/td>\n<td nowrap>Change<\/td>\n<td nowrap>Q2 2018<\/td>\n<td nowrap>Q1 2018<\/td>\n<td nowrap>Change<\/td>\n<\/tr>\n<tr>\n<td nowrap>Ore processed (tonnes milled)<\/td>\n<td nowrap>18,155<\/td>\n<td nowrap>18,041<\/td>\n<td nowrap>1%<\/td>\n<td nowrap>18,155<\/td>\n<td nowrap>17,950<\/td>\n<td nowrap>1%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Metal production (Silver equivalent<\/p>\n<p>ounces)1<\/p>\n<\/td>\n<td nowrap>358,737<\/td>\n<td nowrap>386,867<\/td>\n<td nowrap>-7%<\/td>\n<td nowrap>358,737<\/td>\n<td nowrap>336,027<\/td>\n<td nowrap>7%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Silver production (ounces)<\/td>\n<td nowrap>203,155<\/td>\n<td nowrap>221,099<\/td>\n<td nowrap>-8%<\/td>\n<td nowrap>203,155<\/td>\n<td nowrap>186,201<\/td>\n<td nowrap>9%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Gold production (ounces)<\/td>\n<td nowrap>253<\/td>\n<td nowrap>296<\/td>\n<td nowrap>-15%<\/td>\n<td nowrap>253<\/td>\n<td nowrap>244<\/td>\n<td nowrap>3%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Lead production (tonnes)<\/td>\n<td nowrap>480<\/td>\n<td nowrap>405<\/td>\n<td nowrap>18%<\/td>\n<td nowrap>480<\/td>\n<td nowrap>433<\/td>\n<td nowrap>11%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Zinc production (tonnes)<\/td>\n<td nowrap>528<\/td>\n<td nowrap>638<\/td>\n<td nowrap>-17%<\/td>\n<td nowrap>528<\/td>\n<td nowrap>533<\/td>\n<td nowrap>-1%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Ag grade (g\/t)<\/td>\n<td nowrap>371<\/td>\n<td nowrap>414<\/td>\n<td nowrap>-11%<\/td>\n<td nowrap>371<\/td>\n<td nowrap>348<\/td>\n<td nowrap>6%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Au grade (g\/t)<\/td>\n<td nowrap>0.69<\/td>\n<td nowrap>0.74<\/td>\n<td nowrap>-8%<\/td>\n<td nowrap>0.69<\/td>\n<td nowrap>0.74<\/td>\n<td nowrap>-8%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Ag recovery (%)<\/td>\n<td nowrap>93.9%<\/td>\n<td nowrap>92.0%<\/td>\n<td nowrap>2%<\/td>\n<td nowrap>93.9%<\/td>\n<td nowrap>92.7%<\/td>\n<td nowrap>1%<\/td>\n<\/tr>\n<tr>\n<td nowrap>Au recovery (%)<\/td>\n<td nowrap>63.1%<\/td>\n<td nowrap>68.6%<\/td>\n<td nowrap>-8%<\/td>\n<td nowrap>63.1%<\/td>\n<td nowrap>57.1%<\/td>\n<td nowrap>10%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td nowrap>(1) Silver equivalent ounces were calculated using a 70:1 Au:Ag ratio, and ratios of 1:0.0559 and 1:0.0676 for the price\/ounce of silver<\/p>\n<p>to price\/pound of lead and zinc, respectively.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>OUTLOOK<\/p>\n<p>The Company is maintaining its 2018 production, cash cost and AISC guidance. It is cautioned that cash cost and AISC are very sensitive to the Mexican peso foreign exchange rate and metal prices through the computation of by-product credits.<\/p>\n<div>\n<div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td nowrap>Production and cash cost guidance<\/td>\n<td nowrap>FY 2018<\/p>\n<p>Guidance<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap>Total silver equivalent ounces1<\/td>\n<td nowrap>4,000,000 \u2013 4,100,000<\/td>\n<\/tr>\n<tr>\n<td nowrap>Cash cost2<\/td>\n<td nowrap>$ 5.00 \u2013 $ 6.50<\/td>\n<\/tr>\n<tr>\n<td nowrap>AISC2<\/td>\n<td nowrap>$ 12.50 \u2013 $ 14.50<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td nowrap>\n<p>(1) Silver equivalent ounces were calculated using a 70:1 Au:Ag ratio, and ratios of 1:0.0559 and 1:0.0676 for the price\/ounce of silver<\/p>\n<p>to price\/pound of lead and zinc, respectively.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<\/tr>\n<tr>\n<td nowrap>(2) Cash cost and AISC are non-GAAP measures.  Refer to the \u201cNon-GAAP Measures\u201d section of the Company&#8217;s MD&amp;A for an<\/p>\n<p>explanation of these measures and reconciliation to the Company&#8217;s reported financial results in accordance with IFRS. As these<\/p>\n<p>are not standardized measures, they may not be directly comparable to similarly titled measures used by others.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>The focus for 2018 continues to be on maintaining steady and efficient operations in Mexico, while advancing the Company&#8217;s Coricancha Mine in Peru to set a platform <a href=\"https:\/\/investingnews.com\/daily\/resource-investing\/precious-metals-investing\/gold-investing\/great-panther-silver-reports-second-quarter-2018-production-results-and-provides-coricancha-update\/\" target=\"_blank\" id=\"rssmi_more\"> &#8230;read more<\/a> <\/p>\n<p>From:: <a href=\"https:\/\/investingnews.com\/daily\/resource-investing\/precious-metals-investing\/gold-investing\/great-panther-silver-reports-second-quarter-2018-production-results-and-provides-coricancha-update\/\" target=\"_blank\" title=\"Great Panther Silver Reports Second Quarter 2018 Production Results and Provides Coricancha Update\">Investing News Network<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Hamza Ghaznavi Great Panther Silver (TSX:GPR) announces production results for the second quarter (\u201cQ2\u201d) 2018 from its two wholly-owned Mexican silver mining operations: the Guanajuato Mine Complex (\u201cGMC\u201d), which includes the San Ignacio Mine, and the Topia Mine in Durango. Second Quarter 2018 Production Highlights (Compared to Second Quarter 2017) Consolidated metal production decreased [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[359],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/837314"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=837314"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/837314\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=837314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=837314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=837314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}