RE:cc Q3 2019Elgounakid,
The Q3 conference call is on Great Panther’s web site. The only callers that were allowed to ask questions were a few analysts. There were no private investor questions allowed, and it seems that all of Jim Bannantine’s videos on youtube have been rendered inactive. It was a classic Boardroom coup, where a bean counter replaced an accomplished engineer who successfully completed the Tucano acquisition and moved the Coricancha forward through the bulk sample program.
From a financial point of view, it was a good move for Great Panther because it saves $1.1 million per year in CEO cost (Bannantine did not come cheap.), and the simultaneous decision to hire one of Jim Bannantine’s lieutenants who worked for Jim at Aura Minerals from 2011 through 2014.
"Neil Hepworth is a Mining Engineer with over 30 years of experience in underground mining operations and technical and operational experience in open pit mines. He has strong technical knowledge of geology and geotechnics. Mr. Hepworth has operational experience throughout Latin America, Africa and Europe, with extensive experience in Brazil and Mexico. He holds an M.Sc. Engineering (Mining) and a B.Sc. Honours (Geology) from the University of Witwatersrand, South Africa, and speaks Spanish and Portuguese."
"We are delighted to further enhance our team with the addition of Neil to Great Panther," stated Jeffrey Mason, Interim President & CEO and Chair of the Board. "Neil's strong technical background in mine engineering and geology, combined with his operational expertise in both open pit and underground mining will be key to improving our operations in Brazil and Mexico."
Where I compare the production results of Great Panther versus Americas Gold and Silver, here are the stats for Q3 2019:"
Compared metals production USAS versus GPL
USAS Gold Production NIL Great Panther Gold Production 39,651 oz
USAS Silver Production 299,421 oz Great Panther Silver Production 418,032 oz
USAS Lead Production 6,766,804 lb Great Panther Lead Production 1,187,956 lb
USAS Zinc Production 10,103,688 lb Great Panther Zinc Production 1,518,556 lb
In terms of consolidated AISC
USAS Q3 2019 number is $23.01 USD/oz of silver
GMC AISC $9.82 USD/oz Ag, and
Topia AISC was $16.66 USD/oz Ag
Tucano AISC in Q3 including $210 USD/oz in pre stripping cost and including a one time $127 USD/oz for one time payment of TFRM back taxes = $1349 USD/oz. Back out those two charges and AISC would have come in at $1012 USD/oz.
On the daily candlesticks, GPL put in a railroad track low at 52 cents USD on Thursday and Friday, with the Friday low having lower volume than the Thursday volume. And on the TSX, GPL tested the November 12 low at 70 cents Canadian which was made on 230,009 shares traded with a low at 68 cents on lighter volume of 224,733, so this may be the end of the consolidation in GPR shares.
We will see how GPR trades tomorrow when it comes time for Americas Gold to take its truth serum in the form of the Q3 2019 financials.