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Nice Panther Mining (NYSE:GPL) +12.2% post-market after saying Wednesday it agreed to sell the Guanajuato mine advanced, the Topia mine, and the El Horcón and Santa Rosa initiatives, all positioned in Mexico, to Guanajuato Silver Firm for $14.7M plus as much as $2M in potential extra funds.
Nice Panther (GPL) mentioned the sale of the Mexican mines will permit it to give attention to maximizing the complete potential of the Tucano gold mine in Brazil and full the pivot to gold began in 2019.
The corporate mentioned it expects Tucano will return to steady-state manufacturing on this yr’s H2 and plans to proceed investing to unlock worth each from the underground in addition to the regional potential of the district.
Whereas manufacturing is predicted to rise sharply in H2, Nice Panther (GPL) “will nonetheless have a number of the weakest margins sector-wide, making it a lot greater danger than its junior producer friends,” Taylor Dart writes in an analysis published recently on Seeking Alpha.
