Great Panther Silver Reports Fiscal Year 2018 Financial Results

GREAT PANTHER SILVER LIMITED (TSX:GPR) (NYSE American:GPL) (“Great Panther”; or the “Company”) today reported financial results for the Company’s year ended December 31, 2018.  The full version of the Company’s consolidated financial statements and Management’s Discussion and Analysis (“MD&A”) can be viewed on the Company’s website at www.greatpanther.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml.  All financial information is prepared in accordance with International Financial Reporting Standards (“IFRS”), except as noted in the Non-GAAP Measures section of the MD&A.  All dollar amounts are expressed in US dollars (“USD” or “$”), unless otherwise noted.

“2018 was a year of significant strategic advancement for Great Panther against the backdrop of a challenging metal price environment,” stated James Bannantine, President and CEO.  “Significantly lower silver prices and higher costs driven by geology at our Guanajuato Mine in the third quarter reduced mine operating earnings year-over-year.  Furthermore, we continued to fully expense the advancement of our Coricancha project in Peru. These factors were the primary contributors to our loss this year.  With regard to our costs in Mexico, we took quick action to implement cost reduction and restructuring measures and started to realize cost reductions in the fourth quarter.  We also invested significantly in corporate development, which culminated in a transformational deal to acquire Beadell Resources Limited that will formally close in early March.  As a result of these initiatives, 2019 will represent a historic year of change for Great Panther that will see the Company become a growth-oriented intermediate precious metals producer in Latin America.”

To view the full press release, click here.

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Source: www.newswire.ca