Great Panther Silver Ltd. (TSX:GPR,NYSEMKT:GPL) announced that it has paid a fine regarding the theft of explosives at its Mexico-based Guanajuato Mine Complex. The fine will not materially impact the company\’s financial results.
As quoted in the press release:
Further to the Company\’s news release of January 15, 2016, upon the renewed request of the Mexican regulatory authority, the Company has again temporarily suspended the use of explosive material at the GMC, until all administrative matters are concluded. The final inspection was recently completed and authorization to resume the use of explosives is anticipated within the next few working days. As a result of the temporary suspension, the Company has halted processing at the Cata plant. The Company does not expect the temporary suspension will affect its previously released production guidance, and will provide an appropriate update should expectations change.
In addition, an internal investigation is ongoing and the Company has already taken several steps to increase security and safeguard its operations against further theft.
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