Great Panther (GPR.TO, GPL)

155 posts / 0 new
Last post
Sun, Sep 25, 2011 - 10:31pm mgb
Icarus
Offline
Joined: Jun 14, 2011
177
2040

MGB,You are a broken

MGB,

You are a broken record. What is your hidden agenda here? There is a valid reason why the facts you presented are irrelevant. Why do you dismiss it?????

Again. Their smelter was refusing deliveries. They mined the ore. They stockpiled the ore. They did not sell the ore. They incurred costs of mining but not the revenues from sales. Hence cost per ounce sold went up, production sold went down. They announced that the backlog would be sold by the end of the year.

The costs per ton mined were the same......they DID NOT go up. If the silver they mined had been sold their costs would have been flat!

What is so hard to understand about that?

Icarus

Sun, Sep 25, 2011 - 11:21pm Icarus
mgb
Offline
-
Gulf Islands,
Canada
Joined: Jun 17, 2011
78
1443

Can't figure-buy a calculator

What don't you understand,Icky?

There are TWO quarters in the books.

GPR will not meet their OWN projections regarding production or cost per ounce for 2011.

I never made or published GPR's projections.

Please inform the board how many times/years GPR actually met their forward projections of production.

Since you may have issues with numbers ,it is your lucky day.

Mon, Sep 26, 2011 - 11:55pm
Moderator Washington
Offline
Joined: Sep 1, 2011
169
0

mgb

Oops! Sorry man, I mistakenly deleted your "Independent Analysis" post. It kind of looked like spam to some of us, just with that long link and all, and I went ahead and deleted it before I realized it was legitimate silver miner analysis. Now I can't find a way to put it back.

Please feel free to repost!

My Apologies,

Moderator Washington

Wed, Sep 28, 2011 - 6:01am
Boardwalk
Offline
-
Hell, MI
Joined: Jun 14, 2011
435
2613

mgb's Independent Analysis Link

"Be right and sit tight"
Thu, Sep 29, 2011 - 4:51pm
Eric Original
Offline
Joined: Jun 14, 2011
4253
0

News from the Panther

Hopefully they will start to get some of this problem behind them.

https://finance.yahoo.com/news/Great-Panther-Silver-Updates-iw-101379283...

This isn't a metals blog anymore. It's a right wing circle jerk, masquerading as a metals blog.
Fri, Oct 14, 2011 - 2:30am
mgb
Offline
-
Gulf Islands,
Canada
Joined: Jun 17, 2011
78
1443

Production,projections,+ the all important historical revisions

.... 'a significant drop in ore grades resulted in metal production being lower by 18%.

Year to date, the combined metal production is 1.65 million Ag eq oz. The estimated production for the fourth quarter is expected to improve to 550,000 Ag eq oz for a year end total of approximately 2.2 million Ag Eq oz.'


GPR projected 2.9 million oz Ag Eq for 2011 @ $6.50-$7.50 per oz.

GPR Ag Eq Q1 2011 production was 607,225 oz. No cash costs per oz located.

GPR AG Eq Q2 2011 was 563,000 oz @ $11.84 cash costs per oz.

GPR Ag Eq Q3 2011 is 484,550 oz. No cash costs per oz located.

'Mine production estimates for 2011 have been revised to 2.2 million Ag eq oz to reflect the production to date and the revised expectations for the fourth quarter. While this demonstrates no growth from the previous year, both operations show good opportunities for realizing continued growth into 2012...'

Fri, Oct 14, 2011 - 7:19am
Boardwalk
Offline
-
Hell, MI
Joined: Jun 14, 2011
435
2613

New Manager @ Guanajuato

From the Press Release:

"A new General Manager, Mr. Graham Parsons, MBA, has been appointed for the Guanajuato Operations. Mr. Parsons is fluent in Spanish, having worked in underground operations and open pit projects in Spain, Argentina and Venezuela. He brings a wealth of international mine engineering and operations management experience to Great Panther. Most recently, he held the position of COO for Empire Mining Corporation, a junior exploration and mining company with interests in South-Eastern Europe. Several opportunities exist to improve production output at Guanajuato and Mr. Parsons is expected to add the mining expertise and management skills necessary to achieve the improvements."

​Prior guy taking the fall for the bad numbers this year?

​The other positive that I saw in the report is that ore processed is up at all milling facilities. There is spare milling capacity at Guanajuato to accept ore from San Ignacio. With a new manager and some better grades they should be able to put this rough patch behind them.

"Be right and sit tight"
Sat, Oct 15, 2011 - 11:47am Boardwalk
Super_Douche
Offline
-
2920 S Jebel Way, CO
Joined: Jun 27, 2011
52
850

Staying the course

I'm staying the course for now. Obviously none of us are thrilled about the results of the last two quarters. However, earnings should be decent because of the backlog that they are supposed to unload over Q3 and Q4. This should help cushion us from any ill affects caused by the low production numbers. I also agree with Boardwalk, I like that the processed ore is up. This shows us that they are trying to produce more silver, but the ore grade is just not as good as it could be. I will keep my money with Great Panther for a couple more quarters. If things don't seem to be improving I think there is better places to park your money. Just my thought's. Like The Turd says "what do I really know I'm just a dope with a macbook." In my case I'm just a dope with a Dell laptop.

"There is no inflation and unless we get some soon we will all be in trouble." -Paul Krugman
Mon, Oct 17, 2011 - 6:05pm
FreedomWins
Offline
Joined: Oct 14, 2011
16
119

Painfully

I'm out of the Panther now. Sad to let it go. This was one of my favorites but there are others I prefer over this one. Long term I still think it's a great holding but the ore grades weren't enough to keep me in. Last I checked they were still pulling silver out of the ground at $5/oz unless something's changed.

Mon, Oct 17, 2011 - 9:01pm FreedomWins
mgb
Offline
-
Gulf Islands,
Canada
Joined: Jun 17, 2011
78
1443

$5 per oz. unless something's changed ? Ur late by 3/4's

GPR Q2 2011 was $11.84 cash costs per oz. Q1/2011 was $10.69 per oz..

Anybody get the Q3/11 number? It ain't $5 per oz, for sure.

Great Panther was hit hardest at the Guanajuato mine, which accounts for a bit more than half its metal output. Guanajuato ore graded 175 g/t silver and 1.12 g/t gold, down a big 34 percent over the same quarter the year previous.

https://www.mineweb.com/mineweb/view/mineweb/en/page66?oid=137576&sn...

8/12/11

Great Panther Silver (GPR.to) (GPL) stops the bullshit about its cash costs profile and makes dumbass analysts that swallowed their previous crap whole look stupid

An interesting 2q11 report out of Great Panther Silver (GPR.to) today (link here). Not because of the pisspoor bottom line results, because we at IKN were expecting that (see this post, July 12th, for the details on that). Not for the whiny "honest guv it wasn't our fault" excuses from CEO Archer, either(sidebar note: any GPR long actually asked the company WHY their concentrate has been rejected by buyers recently?). No, the interesting bit is that GPR seems to have swallowed the honesty pill and is now reporting its cash costs in a more open and transparent way. By way of a re-cap, check out an excerpt of this April '11 postconcerning its 2010 numbers: Some numbers.
In 4q10, GPR said that its "cash cost" was U$8.41 per ounce of silver sold.

This means its "cash cost" total for the quarter added up to U$3.111m
(and if you don't believe me, check the company filings on SEDAR, they're all there).
However, its "Cost of Sales" for the quarter was $6.36m!
Yes, you read that right. When GPR touts its "cash cost" figure, what it doesn't explain is that it only covers less than half of its real costs. So there's how GPR used to bullshit the braindead anal ysts, but today's 2q11 numbers show this:
2q11 silver production: 386,210 oz
2q11 cash cost: $11.84 Total of above: $4.57m Reported cost of sales in 2q11 report: $4.61m Close enough! Hey guys, about time you started telling the truth about your costs. Mind you it does make your previous estimates for 2011 costs look pretty freakin rum, no? After all you GPR people did say that you'd produce silver at between $6.50 and $8 per ounce this year. The reality is... 2q11 cash cost: $11.84/oz 1h11 cash cost: $10.69/oz Feeling stupid yet, Christopher Barker of the Motley Dumbass? After all, since you told us about "your favourite silver play GPR" in April this year it's down over 20%, all during the world's most amazing silver price run to date.

Moral of this story DYO freakin' DD and do not believe 1) the numbers given to you by a company and more importantly 2) the braindead anal ysts who try to pass themselves off as professionals but just swallow the company spin whole.

https://incakolanews.blogspot.com/2011/08/great-panther-silver-gprto-gpl...

Wed, Oct 19, 2011 - 1:43pm
Super_Douche
Offline
-
2920 S Jebel Way, CO
Joined: Jun 27, 2011
52
850

I'm done!

Why should I keep my money in this miner when there are much better ones out there. I just sold the rest of my shares today and moved what I had left to RVM. I think I was just in denial when I wrote my last post. I'm not complaining though, Great Panther treated me good overall. I sold a third of my shares at 4.90, I wish I would have sold all of them. I didn't get out because I don't think they will be profitable, I just think RVM is going to more profitable. Good luck to the people that continue to hold shares!

"There is no inflation and unless we get some soon we will all be in trouble." -Paul Krugman
Wed, Oct 19, 2011 - 1:59pm
Economical Disaster
Offline
-
Anywhere, NY
Joined: Jun 21, 2011
614
0

The minimum allowed order is

The minimum allowed order is 10 Ounces of Silver. The maximum allowed order is 50 Ounces of Silver for Great Panther. I prefer the physical rather then the fake fiat currency attached to the stock.

Edit: they are located down the road from me!

The stock price has dipped. My original buy price of PHYSICAL is... $4. I'll stick with the phyzz..

The Big Setup
Thu, Oct 20, 2011 - 12:11am
ghost
Offline
Joined: Jun 23, 2011
237
1104

Yea, I thought this stock was

Yea, I thought this stock was crap. Smelt like every bit of crap since the first hint of insider selling near/at the top.

Thu, Oct 20, 2011 - 9:51am
mgb
Offline
-
Gulf Islands,
Canada
Joined: Jun 17, 2011
78
1443

Not sure

The company is not crap but there is a now very distinct downtrend of production and ore grades.

I have always thought highly of GPR 's Bob Archer and the recent hard times at Guanajuato does not change my impressions of his work or character.

GPR advertising that they will produce 2.9 million oz at $6.50-$7.50 and the revised estimate of 2.2 million oz @ $10.50 or $11 per oz nine months after the fact is not sitting well with me,however.

Also,having Executive Chairman Kaare Foy dump all his shares and options last March-before the low grades and low prices set in - really smelled bad.

Mr Archer explained these transactions away on a FSN interview and said Foy knew nothng of the debt offering/dilution that transpired at the same time Foy sold out,which is legal speak for covering their butts.

On the other hand Bob could not throw his partner under the bus and he himself did not sell the shares.

Thu, Oct 20, 2011 - 11:00am
Eric Original
Offline
Joined: Jun 14, 2011
4253
0

The only thing that kept me

The only thing that kept me in a small position in the Panther this long was some rumors a while back that there would be some consolidation coming in the Mex silver miners. So I thought maybe someone would be buying them.

Now, they are down so far that I'm starting to think maybe they are starting to represent a decent value on their own merits.

Who knows? Whatever. I still have my stupid shares.

This isn't a metals blog anymore. It's a right wing circle jerk, masquerading as a metals blog.
Thu, Oct 20, 2011 - 7:33pm
T
Offline
Joined: Aug 10, 2011
1017
6465

holding on to GPL

whats kept me in the stock is that I trust the due diligence of casey research .

Fri, Oct 21, 2011 - 10:31am T
Super_Douche
Offline
-
2920 S Jebel Way, CO
Joined: Jun 27, 2011
52
850

You will make money

You will definitely make money holding Great Panther. The world financial system is collapsing, and anyone holding a producing silver miner should do very well. When currencies disintegrate mines will be the new banks. You are part owner of a future bank that produce tangible money. The only thing that can screw that up is bad management, or nationalization. I think their management is fine, and nationalization at this point is not going to happen.

Great Panther is still producing a lot of silver, even though they are not hitting there projections. I just think there are better places to maximize your returns.

"There is no inflation and unless we get some soon we will all be in trouble." -Paul Krugman
Thu, Oct 27, 2011 - 9:14am
Corsair
Offline
Joined: Jun 14, 2011
170
376

exk-gpl merger?

"The closest we get to perfection is writing our resumes."
randomness