Lundin says hold Great Panther

2014-05-30 17:05 ET - In the News

Brien Lundin, in the May, 2014, edition of the Gold Newsletter, says hold Great Panther Silver Ltd., recently $1.17. Mr. Lundin said buy Great Panther 11 times between October, 2005, and April, 2013, at prices ranging from 50 cents to $2. Assuming a $1,000 investment for each of the 11 buys, the $11,000 position is now worth $16,213. In the first quarter of 2014, the company increased its production at the Guanajuato and Topia mines in Mexico to 667,349 silver-equivalent ounces from 607,501 silver-equivalent ounces in the first quarter of 2013. Mr. Lundin says the production numbers are impressive, considering the company had to deal with the recent occupation of its offices at Guanajuato by illegal miners and their supporters. Great Panther still expects to produce between 3.1 million and 3.2 million silver-equivalent ounces this year at a cost of between $20 and $21 an ounce, which in this market is on or over the margin of profitability. The newsletter editor says if there is any significant rebound in precious metals prices, Great Panther is perfectly positioned to provide strong leverage on those gains, but for now he will keep the stock at a hold.