GPL - Research - Great Panther Mining Limited (GPL) - Encouraging Initial Results from the 2020 Tucano Drilling Program

Initial Tucano drilling results are encouraging. Initial drill results from the 2020 drill program at the Tucano mine included some high-grade gold intercepts. To date, 12,000 meters of drilling has been completed, including 6,000 meters of near-mine diamond and reverse circulation drilling at the Tapereba AB1 and AB3 open pits. The 2020 program at Tucano will entail 55,000 meters of drilling at near-mine and regional targets at a cost of $6.6 million. The company also plans to spend an additional $4 million this year on a 25,000-meter drilling program in Mexico to define new zones and develop high grade resources. Mr. Nick Winer appointed Vice President of Exploration. Prior to joining Great Panther, Mr. Winer was Vice President, Exploration for AngloGold and was responsible for activities in South America. He is a resident of Brazil and was involved in the initial resource/reserve definition program at the Tucano mine from 1996 to 2000 when he worked as an exploration manager for BHP Minerals and AngloGold Ashanti. He earned a BSc in Geology and Geophysics from Macquarie University. Annual General Meeting is today. Great Panther’s Annual General Meeting is scheduled for 11:00 am PT on Wednesday, June 24. The company will host a live webcast presentation and investors will be able to listen and submit questions.Rating remains Market Perform. While the equity appears undervalued based on our forward estimates, our estimates have generally proved optimistic. We would like to see more progress toward reducing all-in sustaining costs at the Tucano mine although we think the company is taking the necessary steps to improve Tucano’s long-term growth outlook through near mine and regional exploration.Read More >>