GPL - Great Panther halts UCS open pit operations cuts production guidance

Great Panther Mining ([[GPL]] -13.2%) says it has halted mining activities in the Urucum Central South open pit at its Tucano operation in Brazil after detecting wall movements, causing it it lower full-year production guidance.The company says heavy rainfall triggered higher phreatic levels in the west wall, impacting slope stability.Activities are underway to improve wall stability, including unloading additional waste material and improving drainage from the upper benches, which the company says will affect ore mining in UCS throughout Q2 and Q3.As a result, Great Panther cuts FY 2021 consolidated production guidance by 10K oz. to 125K-140K gold equiv. oz., including 100K-110K oz. at Tucano, with all-in sustaining costs rising to $1,450-$1,550/oz.Great Panther's Q1 results included a sharp drop in free cash flow and significantly higher costs at its GMC and Topia silver operations, Taylor Dart writes in a neutral analysis published recently on Seeking Alpha.

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Great Panther halts UCS open pit operations, cuts production guidance