Great Panther Silver Reports First Quarter 2017 Financial Results

Great Panther Silver (TSX: GPR) (NYSE MKT: GPL) (“Great Panther”; or the “Company”) today reported financial results for the Company’s three months ended March 31, 2017.  The full version of the Company’s unaudited condensed interim consolidated financial statements and Management’s Discussion and Analysis (“MD&A”) can be viewed on the Company’s website at www.greatpanther.com or SEDAR at www.sedar.com.  All shareholders can receive a hard copy of the Company’s complete audited financial statements free of charge upon request.  All financial information is prepared in accordance with IFRS, except as noted under the Non-IFRS Measures section.
Great Panther commenced reporting its financial results in US dollars as of the third quarter of 2016.  Accordingly, all dollar amounts expressed in this news release, and the associated financial statements and MD&A, are in US dollars (“USD”), unless otherwise noted.  Periods prior to the third quarter of 2016 were reported in Canadian dollars (“CAD”), and have been restated to USD using the July 1, 2016 CAD/USD exchange rate of 1.3052.
CompanyPresident & CEO Robert Archer commented: 

“I am pleased to report a significant increase in net income for the first quarter of 2017. This is particularly notable given that we suspended processing at Topia to complete plant upgrades and prepare for the transition to a new tailings storage facility, and therefore only had nominal production from Topia during the quarter.
The Topia upgrades were completed under budget and commissioning of the plant is expected to be complete by mid-May.  Great Panther remains focused on capitalizing on growth opportunities and, as at the end of the first quarter of 2017, the Company had $69.3 million in net working capital, including $53.2 million in cash and short-term deposits, and no long-term debt.”

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