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12.10.2016 14:35
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PR Newswire
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Great Panther Silver Reports Third Quarter 2016 Production Results
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PR Newswire
VANCOUVER, Oct. 12, 2016
TSX: GPR
NYSE MKT: GPL
VANCOUVER, Oct. 12, 2016 /PRNewswire/ - GREAT PANTHER SILVER LIMITED (TSX: GPR; NYSE MKT: GPL) ("Great Panther"; the "Company") announces production results for the third quarter ("Q3") 2016 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.
Third Quarter 2016 Production Highlights (Compared to Third Quarter 2015)
- Consolidated metal production decreased 12% to 953,632 silver equivalent ounces ("Ag eq oz")
- Silver production decreased 13% to 510,491 silver ounces ("Ag oz")
- Gold production decreased 11% to 5,423 gold ounces ("Au oz")
- Ore processed increased 2%, with 95,282 tonnes milled
"Despite the third quarter being challenged by lower grades, recoveries and two temporary shut-downs, we expect to meet our production guidance for 2016," stated Robert Archer, President & CEO. "Furthermore, we expect to continue the trend of significant reductions in our cash costs over prior year levels."
| | | | | | | |
| Consolidated Operations Summary | Q3 2016 | Q3 2015 | Change | Q3 2016 | Q2 2016 | Change |
| Ore processed (tonnes milled) | 95,282 | 93,730 | 2% | 95,282 | 99,905 | -5% |
| Silver equivalent ounce production1, 2 | 953,632 | 1,080,296 | -12% | 953,632 | 1,037,728 | -8% |
| Silver ounce production | 510,491 | 586,918 | -13% | 510,491 | 536,726 | -5% |
| Gold ounce production | 5,423 | 6,079 | -11% | 5,423 | 6,010 | -10% |
| Lead production (tonnes) | 248 | 341 | -27% | 248 | 290 | -14% |
| Zinc production (tonnes) | 324 | 493 | -34% | 324 | 433 | -25% |
| | | | | | | |
| (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
In the third quarter of 2016, metal production at the GMC was 2% lower than the previous quarter, and decreased by 5%, to 755,008 Ag eq oz, when compared to the same quarter in the previous year. The decrease was attributed to lower grades and gold recoveries at San Ignacio, mainly reflecting variance from the modeled mineral resource. Additional underground drilling is being undertaken to improve the resource definition in these areas. These factors were partly offset by a 6% increase in ore processed compared to the third quarter of 2015.
| | | | | | | |
| GMC Operations Summary | Q3 2016 | Q3 2015 | Change | Q3 2016 | Q2 2016 | Change |
| Ore processed (tonnes milled) | 81,602 | 77,136 | 6% | 81,602 | 84,134 | -3% |
| Silver equivalent ounce production 1, 2 | 755,008 | 797,119 | -5% | 755,008 | 774,160 | -2% |
| Silver ounce production | 383,598 | 413,085 | -7% | 383,598 | 366,943 | 5% |
| Gold ounce production | 5,306 | 5,908 | -10% | 5,306 | 5,817 | -9% |
| Ag grade (g/t) | 164 | 188 Werbung Mehr Nachrichten zur Great Panther Mining Aktie kostenlos abonnieren
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