Lundin says buy Great Panther

2014-06-13 18:58 ET - In the News

Brien Lundin, in the June, 2014, edition of the Gold Newsletter, says buy Great Panther Silver Corp., recently 99 cents. Mr. Lundin said buy Great Panther 11 times between October, 2005, and April, 2013, at prices ranging from 21 cents to $2. Assuming a $1,000 investment for each of the 11 buys, the $11,000 position is now worth $13,719. The company produced 607,501 silver-equivalent ounces in the first quarter of 2014, up 10 per cent from the first quarter of 2013. Mr. Lundin also notes that the company's all-in sustaining costs for its mines in Mexico were $24.06 an ounce in the first quarter of 2014, a significant drop from $36.84 an ounce in the first quarter of 2013. Although the company was able to reduce its costs, it lost $600,000 in the first quarter of 2014, compared with a net income of $1.3-million in the first quarter of 2013. Mr. Lundin says even with these weak quarterly numbers, the company is maintaining its guidance for the year. It expects to produce between 3.1 million and 3.2 million silver-equivalent ounces by the end of the year with an average all-in sustaining cost of between $17.50 and $19.50. The editor concludes if silver prices rebound, Great Panther will offer a significant leverage on rising prices.