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Mine's Updated Mineral Resource Contains Higher Grades

Source: Streetwise Reports

 

January 11, 2018 (Investorideas.com Newswire) Euro Pacific Capital reviewed the new estimated resource released by this company for its Peruvian mine.


In a Dec. 21 research note, Euro Pacific Capital analyst Bhakti Pavani reported that Great Panther Silver Limited (GPR:TSX; GPL:NYSE.MKT) released an updated mineral resource estimate for its Coricancha mine, which it had acquired from Nyrstar in June 2017. "We believe the overall mineral resource update at Coricancha is positive," Pavani commented.

In the updated version, the Measured and Indicated (M&I) resource totals 752,759 tons. The M&I silver equivalent is higher, having increased to 24.2 million ounces from 21.96, Pavani highlighted. However, Inferred silver equivalent are lower, having decreased to ~0.9 million tons from 4.9, primarily due to the difference in methodologies used to calculate the resource.

Most noteworthy about the estimate, Pavani noted, is the metal grades "are comparatively higher than" those in the previous estimate. Comparison of the grades in the newly calculated resource to those initially determined showed 200 versus 174.6 grams per ton (200 vs. 174.6 g/t) gold, 5.8 vs. 5.04 g/t silver, 2.06 vs. 1.97% lead, 3.26 vs. 3.11% zinc and 0.53 vs. 0.42% copper, respectively.

For the resource update, Great Panther used the results from its own drilling of 33 diamond holes, (~6,000 meters) on the property along with the data Nyrstar had amassed and used in the historical resource in 2012.

The miner aims to complete and announce the results of optimization and technical studies on Coricancha by Q2/18, Pavani reported, with production likely starting there sometime in 2020. Euro Pacific believes Great Panther has sufficient cash to advance the project to that point.

Euro Pacific has increased its valuation on Coricancha to $85 million from $74 million based on the updated, NI-43-101-compliant resource estimate and "assuming the recovery of 80% of the M&I resource and 64% of the Inferred resource," Pavani explained.

Regarding an update at the company's Topia mine, Pavani indicated that in a "significantly positive development," Great Panther now holds all of the required permits to build and run the new phase 2 tailings storage facility there, and plans to start construction immediately. The analyst added that the company has "sufficient capacity remaining at phase 1 to allow uninterrupted mining operations at the Topia mine and expects a seamless transition to deposition at [the] phase 2 tailings storage facility."

Euro Pacific has a Buy rating and a CA$2.90 per share target price on Great Panther Silver, whose stock is currently trading at around CA$1.70 per share.

Read what other experts are saying about:

Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Great Panther Silver. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.

Disclosures from Euro Pacific Capital Inc., Great Panther Silver, Company Update, Dec. 21, 2017

Euro Pacific expects to receive or intends to seek compensation for investment banking services from all companies under research coverage within the next three months. Euro Pacific or its officers, employees or affiliates may execute transactions in securities mentioned in this report that may not be consistent with the report's conclusions.

Regulation Analyst Certification ("Reg AC") — Bhakti Pavani. The views expressed in this report (which include the actual rating assigned to the company as well as the analytical substance and tone of the report) accurately reflect the personal views of the analyst(s) covering the subject securities. An analyst's sector is the universe of companies for which the analyst provides research coverage. Accordingly, the rating assigned to a particular stock represents solely the analyst's view of how that stock will perform over the next 12 months relative to the analyst's sector average.

No part of the compensation of the analyst preparing this report was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by such analyst in this report.


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