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Great Panther Silver Announces US$10 Million Credit Facility

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Great Panther Silver Announces US$10 Million Credit Facility

 

 

 

 

 

GREAT PANTHER SILVER LIMITED (TSX:GPR) (NYSE MKT:GPL) announces that it has obtained a US$10,000,000 credit facility from Auramet International LLC.  Great Panther has had a commercial relationship with Auramet for several years.

 

 

“Great Panther has a strong balance sheet with no debt and approximately $35 million of net working capital.  The Auramet facility provides the Company with greater financial flexibility and, in particular, more options with regard to the pricing and the timing of the pricing of our concentrate sales.” stated Robert Archer, President & CEO.

 

 

The facility has a term of one year and interest on borrowings under the facility is payable at the rate of three month Libor plus 5%.  The Company has not drawn on the facility at this time.

 

 

ABOUT GREAT PANTHER

 

 

Great Panther Silver Limited is a primary silver mining and exploration company listed on the Toronto Stock Exchange trading under the symbol GPR, and on the NYSE MKT trading under the symbol GPL.  Great Panther’s current activities are focused on the mining of precious metals from its two wholly-owned mining operations in Mexico: the Guanajuato Mine Complex, which includes the San Ignacio satellite mine, and the Topia Mine in Durango.  Recently, the Company signed a two-year option agreement to acquire a 100% interest in the Coricancha Mine Complex in the central Andes of Peru and, through the acquisition of Cangold Limited, now holds an option to acquire the advanced stage Guadalupe de los Reyes Project in Mexico.

 

Posted June 11, 2015

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