- Great Panther Mining released its preliminary Q2 results last week, reporting consolidated production of ~27,700 gold-equivalent ounces, representing a 28% drop year-over-year.
- The sharp decline in output was related to lower grades at Tucano with ore sourced from stockpiles and Urucum North, offset by higher production from its silver mines.
- Given the weak H1 results, GPL is still on track for a miss on its initial FY2021 guidance of ~143,000 gold-equivalent ounces, with costs likely to come in above $1,400/oz.
- At current levels, Great Panther could put together a bounce as it's short-term oversold, but I see much better buy-the-dip candidates elsewhere with better operations and higher margins.
For further details see:
Great Panther Mining: Another Rough Quarter For This Industry Laggard