Stock News Update: Great Panther Mining Limited (NYSE:GPL)

Great Panther Mining Limited (NYSE:GPL)stock observed trading -58.59% off 52-week high price. On the other end, the stock has been noted 22.59% away from low price over the last 52-weeks. The stock disclosed a move of 0.17% away from 50 day moving average and -32.74% away from 200 day moving average. Moving closer, we can see that shares have been trading 10.24% off 20-day moving average. It has market cap of $158.57M.

On Dec. 30, 2019, Great Panther Mining Limited (NYSE American:GPL) disclosed that its wholly owned subsidiary, Minera Mexicana el Rosario, S.A. de C.V. (MMR), has entered into a US$10 million concentrate prepayment agreement with the IXM Group (IXM), one of the world’s largest physical metal traders, headquartered in Geneva, Switzerland. MMR wholly owns and operates the Company’s Mexican mining operations.

In consideration of an off-take agreement with a subsidiary of IXM at market-based commercial terms for 100% of the gold-silver concentrates produced from the Guanajuato Mine Complex (GMC) in 2020 and 2021, IXM has agreed to advance a US$10 million prepayment to MMR on December 30, 2019. The prepayment will be repaid on December 31, 2020 and will bear interest at an annual rate of 3-month USD LIBOR plus 5%. Great Panther has issued a guarantee to IXM with respect to the prepayment. There is no hedging of the price of gold or silver associated with the off-take or prepayment agreement.

We are pleased to be partnering with IXM in Mexico for our GMC concentrates over the next two years, stated Jeffrey Mason, Interim President and CEO. Securing the sale of this off-take at competitive market terms, while strengthening our balance sheet with US$10 million at an attractive cost of capital, positions us well to achieve our strategic objectives as we move into 2020.

 

The Canada based company Great Panther Mining Limited moved with change of -1.00% to $0.49 with the total traded volume of 2426158 shares in recent session versus to an average volume of 988.56K. The stock was observed in the 5 days activity at 9.54%. The one month performance of stock was 5.32%. GPL’s shares are at -30.13% for the quarter and driving a -26.41% return over the course of the past year and is now at -30.59% since this point in 2018.  Right now the stock beta is 0.51. The average volatility for the week and month was at 7.10% and 5.71% respectively. There are 321.78M shares outstanding and 308.14M shares are floated in market.

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