Great Panther Silver expects total production next year to climb 20 percent

Great Panther Silver Ltd. expects total metal production next year to climb 20 percent on increased output from two Mexican mines, the Canada-based company said Thursday.

Great Panther, which forecasts metal production in fiscal 2012 of 2.5 million to 2.75 million silver equivalent ounces, said silver production will be 1.72 million to 1.92 million ounces, up from about 1.51 million ounces this year.

Silver equivalents for 2012 have been established using prices of $1,680 per troy ounce for gold and $28 per troy ounce for silver.

Gold production next year will be 10,000 ounces to 11,000, up from about 7,800 ounces this year.

Shares were up 4.7 in early trading. – IBTimes

Tags: Great Panther Silver, Silver, silver mining, silver mining companies, silver mining industry

Posted by Silver Guru on Dec 15 2011. Filed under Silver mining. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry