Great Panther Mining Limited (TSX:GPR, NYSE:GPL) said it is on track to meet its 2022 production guidance with a new mining contractor expected to fully mobilize by the end of May. The mining company has set its production guidance for 2022 between 100,000 to 119,000 gold equivalent ounces from its portfolio of assets in Brazil, Mexico and Peru. In a statement, Great Panther said the mine plan for its flagship Tucano mine reflects more stripping in the first half of 2022 with the second half of 2022 expected to account for at least 65% of annual production guidance. READ: Great Panther Mining says it is poised to return flagship Tucano mine to steady-state production in 2022, reports 4Q results The company also revealed its production results from the first quarter of 2021 from its two operating mines, Tucano in Brazil and Topia in Mexico. For the three-month period ended March 31, 2022, Great Panther reported consolidated metal production of 17,913 gold equivalent ounces, inclusive of 14,319 gold ounces and 173,698 silver ounces. Total gold production at Tucano came in at 14,037 gold ounces, while total silver equivalent production at Topia was 290,694 silver equivalent ounces. Production for the quarter was in line with expectations as the company builds back steady-state production at Tucano, Alan Hair, interim CEO of Great Panther told investors. “We remain on track to return to a normalized rate of production in the second half of the year,” Hair said in a statement. “In addition, an extensive drilling program at the Urucum North underground project has been completed. Engineering studies and permitting are underway and construction work is expected to commence in late 2022 with gold production from the Urucum North underground mine anticipated to come onstream in 2023.” Production breakdown Production in the first quarter of 2022 at Tucano was positively affected by mine reconciliation and higher milled ore tonnage due to the high availability of the MINAX mine fleet to rehandle stockpiles, Great Panther said. Overall production at the mine decreased 39% when compared to the first quarter of 2021 to 14,037 gold ounces, which was In line with expectations. The company attributed the decrease to ongoing stripping of the TAP AB, TAP C and Urucum North pits, which resulted in low ore production triggering higher consumption of the low-grade stockpiles. As well, rain levels recorded in March and during the first quarter were 65% and 32% higher, respectively, compared to historical averages, which had a negative impact on mine development. Meanwhile, silver equivalent production at Topia was 290,694 silver equivalent ounces compared with 363,318 silver equivalent ounces in the same year-ago quarter, a decrease of 20% primarily due to lower tonnes milled in the absence of stockpiles, and lower gold and silver grades. Great Panther told investors that the factors were partly offset by higher gold recovery and the increase in production attributed to the change in metal equivalency ratios for zinc. The mine development meterage during this period was 40% higher compared to 1Q 2021 as preparations for full mine production in mines 1522, La Prieta, Rosario and Durangueno will support future production from these key ore sources for the next three quarters, it added. The firm will release its 1Q 2022 financial results on May 12, 2022. Contact Angela at angela@proactiveinvestors.com Follow her on Twitter @AHarmantas