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PR Newswire
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Great Panther Silver Reports Fourth Quarter and Annual 2016 Production Results and Provides 2017 Outlook
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PR Newswire
VANCOUVER, Jan. 11, 2017
TSX: GPR
NYSE MKT: GPL
VANCOUVER, Jan. 11, 2017 /PRNewswire/ - GREAT PANTHER SILVER LIMITED (TSX: GPR; NYSE MKT: GPL) ("Great Panther"; the "Company") announces its fourth quarter ("Q4") and annual 2016 production results from its two wholly-owned Mexican silver mining operations: the Guanajuato Mine Complex ("GMC"), which includes the San Ignacio Mine, and the Topia Mine in Durango.
2016 Production Highlights (Compared to Full Year 2015)
- Consolidated metal production decreased 7% to 3,884,960 silver equivalent ounces ("Ag eq oz")
- Silver production decreased 14% to 2,047,260 silver ounces ("Ag oz")
- Gold production increased 2% to 22,238 gold ounces ("Au oz"), an annual record
- Ore processed was steady at 376,739 tonnes
Fourth Quarter 2016 Production Highlights (Compared to Fourth Quarter 2015)
- Consolidated metal production decreased 12% to 883,772 Ag eq oz
- Silver production decreased 17% to 460,571 Ag oz
- Gold production decreased 8% to 5,206 Au oz
- Ore processed decreased 2%, with 92,869 tonnes milled
"Metal production was down for the fourth quarter and 2016 due to lower grades at San Ignacio and to shutdowns at Topia, with the most recent to accommodate tailings expansion and plant improvements," stated Robert Archer, President & CEO. "The increased output from San Ignacio did result in a second consecutive annual record for gold production, and recent preliminary drill results from San Ignacio indicate that grades are likely to improve as we continue to the southeast. In addition, with the upgrades at Topia and the recently signed agreement to purchase the Coricancha Mine in Peru, we expect 2017 to be a very exciting time for Great Panther Silver as we position ourselves for production growth in future years."
| | | | | | | |
| Consolidated Operations Summary | Q4 2016 | Q4 2015 | Change | FY 2016 | FY 2015 | Change |
| Ore processed (tonnes milled) | 92,869 | 94,874 | -2% | 376,739 | 375,332 | 0% |
| Silver equivalent ounce production1, 2 | 883,772 | 1,002,584 | -12% | 3,884,960 | 4,159,121 | -7% |
| Silver ounce production | 460,571 | 553,189 | -17% | 2,047,260 | 2,386,028 | -14% |
| Gold ounce production | 5,206 | 5,637 | -8% | 22,238 | 21,740 | 2% |
| Lead production (tonnes) | 213 | 278 | -23% | 1,034 | 1,198 | -14% |
| Zinc production (tonnes) | 315 | 425 | -26% | 1,496 | 1,850 | -19% |
| | | | | | | |
| (1) | Silver equivalent ounces for 2016 were calculated using a 70:1 Ag:Au ratio, and ratios of 1:0.0504 and 1:0.0504 for the price/ounce of silver to price/pound of lead and zinc, respectively. |
| (2) | Silver equivalent ounces for 2015 were calculated using a 65:1 Ag:Au ratio, and ratios of 1:0.050 and 1:0.056 for the price/ounce of silver to price/pound of lead and zinc, respectively. |
Guanajuato Mine Complex
Total metal production for the GMC during the fourth quarter of 2016 decreased by 7%, to 702,351 Ag eq oz, compared to Q4 2015, and decreased by 3% to 2,987,074 Ag eq oz for 2016, compared to the prior year. The decreases in both periods were primarily attributed to lower silver grades at San Ignacio. Ore processed in 2016 increased by 4%, which partly offset the lower silver grades. San Ignacio accounted for 58% of the total ore processed at the GMC in 2016, compared to 48% in 2015.
| | | | | | | |
| GMC Operations Summary | Q4 2016 | Q4 2015 | Change | FY 2016 | FY 2015 | Change |
| Ore processed (tonnes milled) | 81,518 | 79,651 | 2% | 320,903 | 309,944 | 4% |
| Silver equivalent ounce production 1, 2 | 702,351 | 751,927 | -7% | 2,987,074 | 3,081,258 | -3% |
| Silver ounce production | 347,415 | 394,655 | -12% | 1,473,229 | 1,708,061 | -14% |
| Gold ounce production | 5,071 | 5,496 | -8% | 21,626 | 21,126 | 2% |
| Ag grade (g/t) | 149 Werbung Mehr Nachrichten zur Great Panther Mining Aktie kostenlos abonnieren
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