The Conversation (0)
Great Panther Silver’s Jim Bannantine also shares his thoughts on the next three milestones to watch for at the company in this interview.
Both gold and silver prices have struggled in 2018, but Great Panther Silver‘s (TSX:GPR,NYSEMKT:GPL) Jim Bannantine believes the downtrend is not here to stay.
“It’s not fatal for us, we still make money at today’s silver and gold prices,” he said on the sidelines of the recent Denver Gold Forum. “We’re okay today, but we don’t like it like it is, and nor do we believe this is a natural supply/demand balance situation,” continued Bannantine, Great Panther’s president and CEO.
“The gold and silver prices are really driven by very hot US equity markets and a very strong dollar — we don’t think that can last forever.”
Bannantine also shared insight on Great Panther’s recent acquisition of Beadell Resources (ASX:BDR), calling it a “great deal for both companies.”
He commented, “it gives Great Panther scale with the roughly 150,000-ounce production level of Beadell.” The acquisition, announced during the conference, also “gives Beadell shareholders [Great Panther’s] balance sheet,” which stands at $60 million in cash and no debt.
Moving forward, Bannantine said there are three milestones investors can watch for from Great Panther: steady operations in Mexico, the closure of the deal with Beadell and “the continued rise and turnaround of Beadell’s operations.” He noted, “we think the combination of the two companies is a 1+1 = 3.”
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Great Panther Silver is a client of the Investing News Network. This article is not paid-for content.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in contributed article. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
