TORONTO (miningweekly.com) – Mexico-focused silver miner Great Panther Silver has increased silver-equivalent output by 2% year-on-year to one-million ounces for the first quarter ended March 31, as higher grades boosted output.
The Vancouver-based miner said silver output fell 10% year-on-year to 539 472 oz, but gold output rose 19% to 5 599 oz in the quarter.
As a result of rising gold grades at its Guanajuato mine complex and Topia mine, total ore processed fell 11% to 88 683 t, resulting in lower costs per ounce of production.
Great Panther planned to produce between 4-million and 4.2-million silver equivalent ounces in 2016.