Great Panther Exceeds Production Target For 2009 With Record Fourth Quarter
Great Panther Silver Limited
T.GPR: TSX
Great Panther Exceeds Production Target For 2009 With Record Fourth Quarter
GREAT PANTHER SILVER LIMITED (TSX: GPR; the “Company”) is very pleased to report record 2009 production of 2,202,456 silver equivalent ounces (“Ag eq oz”), a 22% increase over 2008, and 6% higher than the target for 2009 of 2.07 million Ag eq oz. Total metal production for the year includes 1,456,830 ounces silver, 7,151 ounces gold, 871 tonnes lead, and 1,057 tonnes zinc.
The fourth quarter (“Q4”) production of 625,288 Ag eq oz is a record and a 26% increase over Q4 2008. It includes 390,026 ounces silver, 2,456 ounces gold, 205 tonnes lead and 248 tonnes zinc. This marks 13 out of 16 successive quarterly increases since the Company commenced production in 2006, and 2009 represents the fourth consecutive year of production growth for GPR.
Fourth Quarter 2009 highlights include:
- Record metal production of 625,288 Ag eq oz, up 5% from Q3 2009 and 26% from Q4 2008.
- Record gold production of 2,456 oz Au, up 26% from Q3 2009 and 53% from Q4 2008.
- Silver production of 390,026 oz Ag, within 2% of Q3 2009 and up 9% from Q4 2008.
- Record production from Guanajuato of 470,025 Ag eq oz, up 9% from Q3 2009 and 37% from Q4 2008.
- Excellent metallurgical performance at both Topia and Guanajuato.
- New 3-year growth strategy planned to increase GPR’s production to 3.8 million Ag eq oz and NI 43-101 compliant resources to 40 million Ag eq oz by 2012.
- Acquisition of La Prieta concession at Topia should provide increased production by late 2010.
2009 Year-end highlights include:
- Record annual metal production of 2,202,456 Ag eq oz, up 22% from 2008, and 6% above target.
- Record silver production of 1,456,830 oz Ag, up 20% from 2008, and as targeted.
- Record gold production of 7,151 oz Au, up 14% from 2008, and 19% above target.
- Highest quality concentrates produced at record metal recoveries.
(Silver equivalents for all of 2009 were established using prices of US$850/oz Au, US$11/oz Ag, US$0.50/lb Pb and Zn. These will be revised for 2010.)
To read the complete news release, please see our web site at
http://bdcapital.com/_resources/GPR-2010-01-11.pdf
