VANCOUVER, Oct. 30, 2019 /CNW/ - GREAT PANTHER MINING LIMITED (NYSE American: GPL; TSX: GPR) ("Great Panther", the "Company") today reported financial results for the Company's three and nine months ended September 30, 2019 ("Q3") from its Tucano Gold Mine ("Tucano") in Brazil, and two Mexican mining operations: the Guanajuato Mine Complex ("GMC"), which includes the San Ignacio Mine, and the Topia Mine ("Topia"). The full version of the Company's unaudited condensed interim consolidated financial statements and Management's Discussion and Analysis ("MD&A") can be viewed on the Company's website at www.greatpanther.com or on SEDAR at www.sedar.com. All financial information is prepared in accordance with International Financial Reporting Standards ("IFRS"), except as noted in the Non-GAAP Measures section of the MD&A. All dollar amounts are expressed in US dollars ("USD"), unless otherwise noted. The Company is also providing an update on the engineering work underway to update the Mineral and Resource Estimate for Tucano which is anticipated to be completed in the first quarter of 2020 ("Q1 2020") and work underway to resolve the geotechnical issues at the Urucum Central South pit ("UCS").
"The acquisition of Tucano in March of 2019 has driven a significant increase in mine operating earnings and operating cash-flow over the third quarter of last year", stated Jeffrey Mason, Interim President and CEO, and
Chair of the Board of Directors ("the Board"). "More importantly, the continued improvements of Tucano's operations have translated into increases in production and mine operating earnings over the prior quarter, and we expect to deliver a further increase in production in the fourth quarter of 2019. We also further reduced Tucano's debt levels by almost $9.0 million in the third quarter of 2019. Although geotechnical issues with one of our five Tucano pits, UCS, has reduced our expected production for the fourth quarter, we are working diligently to ensure we have a plan to safely return UCS to our mine plan."
OPERATIONAL AND FINANCIAL HIGHLIGHTS
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