Great Panther Silver Corp Fully Funded Production in Peru
Bob Archer, President & CEO of Great Panther Silver Corp on the company’s plans projects in Mexico and Peru.
Exploration geologist by training, Bob Archer, President & CEO of Great Panther Silver Corp., tells how he joined a Mexican business partner to launch the company in 2004. And how they have grown it out of cash flow since then.
Great Panther Silver has two operating mines in Mexico and they produce about 4 million ounces silver equivalent on an annual basis. The new project in Peru has the potential to increase the company’s production by about 75% over the next few years.
The Coricancha mine is a well-established mine and has been producing on and off for about a 100 years. The strategy there is to diversify a little bit geographically and establish in Peru as a producer. Then, build the company in Peru out of cash flow the same way they have done in Mexico.
At this point, Great Panther has a very strong balance sheet. With about 54 million US in cash, the company is fully funded to bring Coricancha into production without going back to the market.
They will conduct a preliminary economic assessment (PEA) in 2017 aiming to bring the mine back into production by 2018.
Called gold on steroids, silver has leverage on the gold price. The CEO believes that primary silver companies like Great Panther have a tremendous amount of leverage to the silver price.
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