09:46 AM EDT, 07/10/2018 (MT Newswires) -- Great Panther Silver (GPR.TO) -- a primary silver mining and exploration company with shares currently trading at $1.49 apiece -- said Tuesday that for Q2 2018, metal production at the Guanajuato Mine Complex was 643,432 Ag eq oz, which represents a 10% decrease compared to the same quarter in the previous year. The decreases are mainly attributed to lower tonnes milled and lower silver grades, partly offset by higher gold grades.

CEO James Bannantine said: "While production during the second quarter was somewhat lower than planned due to heavier than usual rainfall at our Guanajuato Mine Complex, we continue to expect to meet our production guidance for 2018."

"In addition, we are very pleased with the positive results of our recently announced Preliminary Economic Assessment for the Coricancha Mine in Peru. We have now begun preparations for the Bulk Sample Program and look forward to providing further updates as we continue to advance the project," he said.

For its 2018 outlook at its wholly-owned Mexican silver mining operations, the company is maintaining its 2018 production, cash cost and AISC guidance. It is cautioned that cash cost and AISC are sensitive to the Mexican peso foreign exchange rate and metal prices through the computation of by-product credits. Great Panther will also focus on advancing its Coricancha Mine in Peru to set a platform for production growth in 2019 and 2020.

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