Great Panther Supports Mexican Government Directive
May 01 2009 - 3:37PM
Marketwired
GREAT PANTHER RESOURCES LIMITED (TSX: GPR) (the "Company")
announces that it is supporting the order from the Health Secretary
of Mexico, by closing its 100% owned silver mines in Guanajuato and
Topia for the five days May 1 to 5, inclusive. Both mines are
scheduled to resume normal operations on May 6.
The government order, announced yesterday, dictates that private
industries that are non-essential in dealing directly with the H1N1
Influenza A virus, or in providing necessary community services,
should be closed for this five-day period to encourage people to
stay home and prevent the further spread of the flu. Great Panther
places the safety of its workers above all else and, being
respectful of the Mexican Government's efforts to deal with the
current difficulties, has ceased work as of today with the
intention of recommencing next Wednesday.
Given that today is a public holiday in Mexico and the five-day
period falls on a weekend, there will only be three days of lost
production, which will be made up in the coming weeks. The mining
shortfall will be made up by working extra shifts and both plants
have excess capacity with which to process the additional ore. As
such, the Company is not expecting any effect on its targeted
production for the quarter. Site security will be maintained at
both mines.
"It is our responsibility to do all we can to ensure the
continued health and safety of our personnel and their families,"
said President & CEO Robert Archer today. "Fortunately, both
mines are ahead of target for the quarter and we will make up this
temporary shortfall in due course."
For further information please visit the Company's website
www.greatpanther.com.
ON BEHALF OF THE BOARD
Robert A. Archer, President & CEO
This news release contains forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and forward-looking information within the meaning of
the Securities Act (Ontario) (together, "forward-looking
statements"). Such forward-looking statements may include but are
not limited to the Company's plans for production at its Guanajuato
and Topia Mines in Mexico, exploring its other properties in
Mexico, the overall economic potential of its properties, the
availability of adequate financing and involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements expressed or implied by such
forward-looking statements to be materially different. Such factors
include, among others, risks and uncertainties relating to
potential political risks involving the Company's operations in a
foreign jurisdiction, uncertainty of production and cost estimates
and the potential for unexpected costs and expenses, physical risks
inherent in mining operations, currency fluctuations, fluctuations
in the price of silver, gold and base metals, completion of
economic evaluations, changes in project parameters as plans
continue to be refined, the inability or failure to obtain adequate
financing on a timely basis, and other risks and uncertainties,
including those described in the Company's Annual Report on Form
20-F for the year ended December 31, 2008 and reports on Form 6-K
filed with the Securities and Exchange Commission and available at
www.sec.gov and Material Change Reports filed with the Canadian
Securities Administrators and available at www.sedar.com.
SEC 20-F Statement Filed; Standard & Poor's Listed
Contacts: B&D Capital 604 685 6465 604 899 4303 (FAX)
info@greatpanther.com www.greatpanther.com
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