GPL - Great Panther Mining: Updated Guidance Miles Away From Initial Estimates
- Great Panther Mining continues to be one of the worst-performing gold producers, and the 50% decline in the share price is completely justified.
- Not only is the company tracking more than 35% behind its January production guidance midpoint, but costs are sitting at some of the highest levels industry-wide (~$1,900/oz).
- GPL appears confident that it can turn things around in H2-22, but even if production increases, we've seen significant shareholder dilution since Q1-20, and more could be on the way.
- At a share price of US$0.40, a good chunk of the bad news is priced in, but I don't see any way to justify buying an industry laggard with further risk of share dilution over the next 12 months.
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Great Panther Mining: Updated Guidance Miles Away From Initial Estimates