Great Panther Limited (NYSE: GPL), formerly known as Great Panther Silver is a mining company that was originally founded in 1965 and its headquarters is in Vancouver Canada. The company did not always specialize in metal mining and was originally mining for emeralds and transitioned in 2006. The company operates three gold and silver mines in Peru, Mexico, and Brazil.
The history of the stock starts in early 2011 with a share price of $2.64 and in 2015, the stock would be trading at $0.40, a significant decline in just 4 years. The stock increased drastically in 2016 and 2017, seeing a high of $2.18 and a low of $1.10. Despite the increase in the stock price, the current trading price is $0.28. The stock price has a 52 week high of $1.16 and a 52 week low of $0.25. The market cap of the company is about $99 million with no dividends. The total amount of common shares outstanding is 356.9 million with $35.8 million in cash as of 9/30/2021.
Recently, the company announced the closing of $23 million of bought-deal offerings. The deal included a public underwriting offering of 88,461,538 common shares in the capital of the company, which also includes the full exercise by the underwriters of the option to purchase an additional 11,538,461 common shares at a price of $0.26 per share.
With the new proceeds, the company will use the funds for underground mine development and exploration programs at its Tucano mine in Brazil, to maintain its working capital and for corporate purposes. The company hopes to develop the mines into a long-term investment at its three mines. Currently, the company is producing a total of 80,500 – 92,000 ounces of gold and 1,200 – 1,300 ounces of silver.
Despite having a turbulent stock price, the company intends to expand and grow its operations at the mines, as well as expand into new mines. Aside from the three mines, the company also has an advanced development project and a large land package with district-scale potential. The company is dedicated to the sustainable mining of gold and silver, with a focus on long-term growth.