GREAT PANTHER MINING (GPLDF) 40-F 12 Mar 21 2020 FY Annual report (Canada) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2020shares
Document and Entity Information
Document Type	40-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Registrant Name	GREAT PANTHER MINING Ltd
Entity Central Index Key	0001300050
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding	0
Entity Emerging Growth Company	true
Entity Ex Transition Period	false

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 63,396	$ 36,970
Restricted cash	1,024	115
Trade and other receivables (note 6)	15,644	21,756
Inventories (note 7)	33,743	35,120
Other current assets (note 8)	5,675	11,380
Total current assets	119,482	105,341
Non-current assets:
Other receivables (note 6)	11,836	10,155
Mineral properties, plant and equipment (note 9)	110,559	133,810
Exploration and evaluation assets (note 10)	26,334	15,659
Other assets (note 11)	12,209	5,777
Total Assets	280,420	270,742
Current liabilities:
Trade payables and accrued liabilities (note 12 (a))	53,221	49,533
Current portion of borrowings (note 13)	30,933	38,066
Derivative liabilities (note 14)	2,974
Reclamation and remediation provisions - current (note 15)	958	4,927
Total current liabilities	88,086	92,526
Non-current liabilities:
Other liabilities (note 12(b))	6,117	17,078
Borrowings (note 13)	2,465	4,627
Reclamation and remediation provisions (note 15)	67,367	50,647
Deferred tax liabilities (note 23)	4,682	5,365
Total liabilities	168,717	170,243
Shareholders' equity:
Share capital (note 16)	268,872	252,186
Reserves	11,604	17,420
Deficit	(168,773)	(169,107)
Total Equity	111,703	100,499
Total Liabilities and Stockholders Equity	$ 280,420	$ 270,742

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
Revenue (note 17)	$ 260,805	$ 198,653
Production costs (note 18)	136,633	157,137
Amortization and depletion	40,305	34,671
Cost of sales	176,938	191,808
Mine operating earnings	83,867	6,845
General and administrative expenses (note 19)	12,926	17,557
Exploration and evaluation expenses (note 20)	10,370	12,787
Mine development costs	2,884	1,487
Change in reclamation and remediation provisions	41	9,752
Exploration, evaluation, and development expenses	13,295	24,026
Impairment of goodwill (note 21)		38,682
Business acquisition costs (note 5)		2,923
Care and maintenance costs	693	795
Operating earnings (loss)	56,953	(77,138)
Finance and other income (expense)
Finance income	347	726
Finance expense	(3,981)	(5,752)
Other income (expense) (note 22)	(49,194)	(8,114)
Total Finance and other (expense) income	(52,828)	(13,140)
Income (loss) before income taxes	4,125	(90,278)
Income tax expense (note 23)	3,791	744
Net income (loss) for the period	$ 334	$ (91,022)
Earnings per share
Earnings (loss) per share - basic (note 16(e))	$ 0	$ (0.33)
Earnings (loss) per share- diluted (note 16(e))	$ 0	$ (0.33)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income (loss) for the year	$ 334	$ (91,022)
Other comprehensive income (loss) ("OCI"), net of tax
Foreign currency translation	(7,057)	(6,150)
Change in fair value of financial assets designated as fair value through OCI, net of tax	1	(1)
Total other comprehensive (loss), net of tax	(7,056)	(6,151)
Total comprehensive (loss) for the year	$ (6,722)	$ (97,173)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Issued capital [member]	Reserve of share-based payments [member]	Reserve of exchange differences on translation [member]	At fair value [member]	Capital reserve [member]	Deficit [member]	Total
Beginning Balance at Dec. 31, 2018	$ 130,912	$ 16,833	$ 3,178	$ (182)	$ 19,829	$ (78,085)	$ 72,656
Beginning Balance (shares) at Dec. 31, 2018	169,165
Shares and warrants issued pursuant to the acquisition of Beadell Resources Limited (note 5)	$ 93,235	2,646			2,646		95,881
Shares and warrants issued pursuant to the acquisition of Beadell Resources Limited (note 5) (shares)	103,593
Shares issued upon conversion of MACA Limited borrowings	$ 10,524						10,524
Shares issued upon conversion of MACA Limited borrowings (shares)	14,078
Share options exercised	$ 702	(196)			(196)		506
Share options exercised (shares)	917
Shares issued for bought deal financing (note 16(f))	$ 15,939						15,939
Shares issued for bought deal financing (note 16(f)) (shares)	23,000
Restricted and deferred share units settled	$ 874	(434)			(434)		440
Restricted and deferred share units settled (shares)	1,188
Share-based compensation		1,726			1,726		1,726
Comprehensive income (loss)			(6,150)	(1)	(6,151)	(91,022)	(97,173)
Ending Balance at Dec. 31, 2019	$ 252,186	20,575	(2,972)	(183)	17,420	(169,107)	100,499
Ending Balance (shares) at Dec. 31, 2019	311,941
Share options exercised	$ 964	(244)			(244)		720
Share options exercised (shares)	1,280
Shares issued for bought deal financing (note 16(f))	$ 14,705						14,705
Shares issued for bought deal financing (note 16(f)) (shares)	40,250
Restricted and deferred share units settled	$ 978	(978)			(978)
Restricted and deferred share units settled (shares)	1,474
Shares issued upon settlement of obligation	$ 39						39
Shares issued upon settlement of obligation (shares)	88
Share-based compensation		2,462			2,462		2,462
Comprehensive income (loss)			(7,057)	1	(7,056)	334	(6,722)
Ending Balance at Dec. 31, 2020	$ 268,872	$ 21,815	$ (10,029)	$ (182)	$ 11,604	$ (168,773)	$ 111,703
Ending Balance (shares) at Dec. 31, 2020	355,033

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income (loss) for the year	$ 334	$ (91,022)
Items not involving cash:
Amortization and depletion	40,751	35,185
Impairment of goodwill (note 5)		38,682
Change in reclamation and remediation provisions	41	9,752
Loss (gain) on derivative instruments	27,980	(2,354)
Unrealized foreign exchange loss	13,300	2,785
Income tax expense	3,791	744
Share-based compensation	2,462	1,726
Other non-cash items (note 29(a))	6,264	8,462
Interest received	346	686
Interest paid	(3,944)	(5,692)
Loss on settlement of derivative instruments	(21,552)
Income taxes paid	(728)	(440)
Cash flows from (used in) operations before changes in working capital	69,045	(1,486)
Changes in non-cash working capital:
Trade and other receivables	(1,335)	4,568
Reclamation and remediation provisions	(902)
Inventories	(5,063)	10,521
Other current assets	(2,468)	212
Trade payables and accrued liabilities	9,612	(28)
Net cash provided by operating activities	68,889	13,787
Cash flows from investing activities:
Cash restricted for Coricancha environmental bond	(21)	371
Cash received on acquisition of Beadell		1,441
Redemptions of (investments in) short-term deposits and restricted cash, net		25,941
Repayment received prior to Acquisition on loan advanced to Beadell		3,069
Advances to Beadell prior to Acquisition		(354)
Additions to mineral properties, plant and equipment	(41,948)	(25,910)
Net cash provided by (used in) investing activities	(41,969)	4,558
Cash flows from financing activities:
Proceeds from bought deal financing, net (note 16(f))	14,705	15,939
Payment of lease liabilities	(5,774)	(6,190)
Proceeds from borrowings	36,013	32,210
Repayment of borrowings	(44,836)	(48,444)
Proceeds from exercise of share options	720	504
Net cash provided by (used in) financing activities	828	(5,981)
Effect of foreign currency translation on cash and cash equivalents	(1,322)	82
Increase in cash and cash equivalents	26,426	12,446
Cash and cash equivalents, beginning of year	36,970	24,524
Cash and cash equivalents, end of year	$ 63,396	$ 36,970

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
	Dec. 31, 2020
NATURE OF OPERATIONS
NATURE OF OPERATIONS	1. NATURE OF OPERATIONS Great Panther Mining Limited ("Great Panther" or the "Company”) is a public company listed on the Toronto Stock Exchange (“TSX”) trading under the symbol GPR, and on the NYSE American trading under the symbol GPL and is incorporated and domiciled in Canada. The Company’s registered and records office is located at 1330 – 200 Granville Street, Vancouver, BC. On March 5, 2019 (the “Acquisition Date”), the Company changed its name from Great Panther Silver Limited to Great Panther Mining Limited following the completion of the acquisition of Beadell Resources Limited (“Beadell”) (the “Acquisition”), a gold mining company that was listed on the Australian Securities Exchange and operated the wholly owned Tucano gold mine (“Tucano”) and related exploration properties in Amapá state, northern Brazil (note 5). Additionally, the Company has two wholly-owned mining operations in Mexico: the Topia mine (“Topia”), and the Guanajuato Mine Complex (the "GMC”), which comprises the Guanajuato mine, the San Ignacio mine (“San Ignacio”), and the Cata processing plant. Topia , located in the Sierra Madre Mountains in the state of Durango in northwestern Mexico, produces concentrates containing silver, gold, lead and zinc. The GMC, located in central Mexico, produces a silver and gold concentrate. The Company also wholly owns the Coricancha Mine Complex (“Coricancha”), a gold-silver-copper-lead-zinc mine and 600 tonnes per day processing facility in the central Andes of Peru, approximately 90 kilometres east of Lima. Coricancha was acquired by the Company in June 2017, having been placed on care and maintenance by its previous owner in August 2013. The Company filed a positive Preliminary Economic Assessment on Coricancha in May 2018, and in July 2018, commenced a trial stope and bulk sample program ("BSP”) to further de-risk the project. The BSP was completed in June 2019 and the Company continues to evaluate a restart of the Argosy in Canada. The El Horcón property is located 100 kilometres by road northwest of Guanajuato, Santa Rosa is located 15 kilometres northeast of Guanajuato, and the Plomo property is located in Sonora, Mexico. The Argosy property is located in the Red Lake Mining District in northwestern Ontario, Canada. These consolidated financial statements have been prepared on a going concern basis, which contemplates the continuity of normal business activity and the realization of assets and the settlement of liabilities in the normal course of business. In March 2020, the World Health Organization declared a global pandemic following the emergence and rapid spread of a novel strain of the coronavirus respiratory disease ("COVID-19"). The Company continues to closely monitor the developments of COVID-19 with a focus on the jurisdictions in which the Company operates and its head office location in Canada. The worldwide spread of COVID-19 is prompting governments to implement different measures to curb the spread of COVID-19 regularly. During this period of uncertainty, the Company’s priority is to continue to safeguard the health and safety of personnel and host communities, support and enforce government actions to slow the spread of COVID-19 and assess and mitigate the risks to the business continuity. As the extent and duration of the impacts from COVID-19 remain unclear, the Company’s estimates and assumptions may evolve as conditions change. Actual results could differ significantly from those estimates.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2020
BASIS OF PRESENTATION
BASIS OF PRESENTATION	2. BASIS OF PREPARATION These consolidated financial statements have been prepared by management of the Company in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). These consolidated financial statements were approved by the Company’s Board of Directors on March 3, 2021.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES	3. SIGNIFICANT ACCOUNTING POLICIES The Company has consistently applied the following accounting policies to all periods presented in these consolidated financial statements, except for the new accounting standards newly adopted on January 1, 2020 as described in notes 3(r) below. (a) Basis of consolidation These consolidated financial statements include the accounts of the Company. All material intercompany transactions, balances, revenues, and expenses have been eliminated upon consolidation. Subsidiaries are included in the consolidated financial results of the Company from the effective date of acquisition or control and up to the effective date of disposition or loss of control. Control is achieved when the Company has power over the investee, is exposed to or has rights to variable returns from its involvement with an investee, and has the ability to affect those returns through its power over the investee. Great Panther Mining Limited is the ultimate parent entity of the group. At December 31, 2020, the principal subsidiaries of the Company, their geographic locations, and the ownership interests held by the Company, were as follows: Name Location Ownership Principal Activity Mina Tucano Ltda (formerly Beadell Brasil Ltda) Brazil 100% Mining company Mineral Mexicana el Rosario S.A. de C.V. Mexico 100% Mining company Great Panther Coricancha S.A. Peru 100% Exploration company (b) Basis of measurement These consolidated financial statements have been prepared on the historical cost basis except for financial assets and liabilities that are measured at fair values at each reporting date. (c) Foreign currency translation These consolidated financial statements are presented in US dollars ("USD") which is the Canadian parent company’s presentation currency and functional currency. The functional currency of the Company’s principal subsidiary in Mexico is the USD. The functional currency of the Company’s Brazilian subsidiaries is the Brazilian real (“BRL”). i) Transactions and balances Foreign currency transactions are translated into the relevant functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in net income. ii) Translation of subsidiary results into the presentation currency The operating results and statements of financial position of the Company’s subsidiaries which have a functional currency that differs from the Company’s presentation currency are translated into the presentation currency as follows: · Assets and liabilities for each statement of financial position presented are translated at the closing rate at the date of the statement of financial position; · Income and expenses for each statement of comprehensive income are translated at average exchange rates, unless the average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions; and · All resulting exchange differences are recognized as a separate component of equity. On consolidation, exchange differences arising from the translation of the net investment in foreign entities are recognized in a separate component of equity, foreign currency translation reserve. When a foreign operation is sold, such exchange differences are recognized in net income as part of the gain or loss on the sale. (d) Cash and cash equivalents Cash and cash equivalents include cash on hand, demand deposits, and money market instruments, with maturities from the date of acquisition of three months or less, which are readily convertible to known amounts of cash and are subject to insignificant changes in value. Transaction costs are expensed when incurred. Cash and cash equivalents are designated as financial assets at amortized cost. (e) Inventories Inventories consist of: · Gold bullion, gold in circuit, ore stockpiles, and concentrate inventories which are stated at the lower of weighted average cost and net realizable value. Costs include production costs and amortization and depletion directly attributable to the inventory production process. Net realizable value is the expected selling price for the finished product less the costs to put the product into saleable form and delivery to the selling location. · Materials and supplies inventory, which includes the cost of consumables used in operations are stated at the lower of weighted average cost and replacement cost which approximates net realizable value. Major spare parts and standby equipment are included in property, plant, and equipment when they are expected to be used over more than one period, if they can only be used in connection with an item of property, plant and equipment. · Silver bullion coins and bars are recorded at lower of cost and net realizable value. (f) Mineral properties, plant and equipment i) Mineral properties Mine development costs are capitalized if management determines that there is sufficient evidence to support probability of generating positive economic returns in the future. Mineral Resources and Reserves are considered to have economic potential when the technical feasibility and commercial viability of extraction is demonstrable considering long-term metal prices. Therefore, prior to capitalizing such costs, management determines whether the following conditions have been met: there is a probable future benefit that will contribute to future cash inflows; the Company can obtain the benefit and control access to it; and the transaction or event giving rise to the benefit has already occurred. In the event that the Company does not have sufficient evidence to support the probability of generating positive economic returns in the future, mine development costs are expensed to profit or loss. Mine development costs include expenditures associated with accessing Mineral Resources and gaining further information regarding the ore body, whether by means of ramp development, drilling or sampling. Development costs at the GMC are currently expensed. Producing mineral properties acquired through business acquisitions are recognized at fair value on the acquisition date. Where applicable, the estimated cost of mine reclamation and remediation for the property is included in the cost of mineral properties. The Company defers certain related stripping costs during the production phase of its Tucano surface mine operation to future periods. Stripping costs that generate a benefit of improved access to future components of an ore body and meet the definition of an asset are recognized as stripping activity assets. Stripping activity assets are depreciated on a units of production basis over the useful life of the identifiable component of the ore body that becomes more accessible as a result of the stripping activity. Stripping activity assets form part of mineral properties, plant and equipment. ii) Plant and equipment Plant and equipment is originally recorded at cost at the time of construction, purchase, or acquisition, and is subsequently measured at cost less accumulated amortization and impairment. Cost includes all costs required to bring the plant and equipment into a condition and location where it is capable of operating according to its intended use. Costs incurred for major overhauls of existing equipment or infrastructure are capitalized as plant and equipment and are subject to amortization once they are commissioned. Costs associated with routine maintenance and repairs are charged to operations as incurred. iii) Amortization and depletion The Company's mineral properties in Mexico are depleted using the straight-line method over the estimated remaining life of the mine. The Company’s mineral properties at Tucano are depleted on a units of production basis over the economically recoverable reserves. Plant and equipment directly related to the Mexico mining operations is amortized using the straight-line method over the shorter of the estimated remaining life of the mine and the estimated remaining useful life of the asset. Plant and equipment directly related to the Tucano mining operations is amortized on a units of production basis over the economically recoverable reserves of the mine concerned, except in the case of assets whose useful life is shorter than the estimated remaining life of the mine, in which case the straight -line method over the remaining useful life of the asset is used. All other equipment, buildings and furniture and fixtures which do not relate directly to the mining operations are amortized on a straight-line basis over the remaining estimated useful life of the asset, except for land which is not amortized. When assets are retired or sold, the costs and related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is reflected in profit or loss. (g) Exploration and evaluation assets i) Exploration properties Exploration properties represent properties for which the Company has not yet performed sufficient exploration work to determine whether significant mineralization exists. Exploration properties are carried at the cost of acquisition and included in exploration and evaluation assets. Exploration expenditures incurred on such properties are expensed as incurred as exploration expenditures in profit or loss. Examples of exploration expenditures that are expensed under this policy include topographical, geological, geochemical and geophysical studies; exploratory drilling; trenching; and sampling. The Company considers its Coricancha, Santa Rosa, El Horcón, Plomo and Argosy projects to be in this category as at December 31, 2020, and consequently, expenses all costs associated with these projects as they are incurred. ii) Evaluation properties Evaluation properties represent properties for which the Company has identified Mineral Resources or Reserves of such quantity and grade or quality that it has reasonable prospects for economic extraction. Mineral Resources and Reserves are considered to have reasonable prospects for economic extraction when the Company has sufficient information to determine that extraction is viable and feasible at expected long-term metal prices. Expenditures made in relation to evaluating the technical feasibility and commercial viability of extracting a Mineral Resource or Reserve are capitalized and included in exploration and evaluation assets. Evaluation expenditures include the costs of drilling, sampling and other costs related to defining and delineating the mineral deposit. When the technical feasibility and commercial viability of the extraction of Mineral Resources or Reserves associated with the Company’s evaluation properties are demonstrable and management has made a decision to proceed with development, the capitalized costs associated with evaluation assets are reclassified from exploration and evaluation assets to mineral properties. They are tested for impairment at that time. iii) Amortization and depletion Exploration and evaluation assets are not subject to depletion or amortization, but rather are tested for impairment when circumstances indicate that the carrying value may not be recoverable. (h) Leased assets At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether: · The contract involves the use of an identified asset - this may be specified explicitly or implicitly, and should be physically distinct or represent substantially all of the capacity of a physically distinct asset. If the supplier has a substantive substitution right, then the asset is not identified; · The Company has the right to obtain substantially all the economic benefits from use of the asset throughout the period of use; and · The Company has the right to direct the use of the asset. The Company has this right when it has the decision-making rights that are most relevant to changing how and for what purpose the asset is used. The Company recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured based on the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received. The right-of-use assets are subsequently depreciated to the earlier of the end of the useful life of the right-of-use asset or the lease term using the straight-line method as this most closely reflects the expected pattern of consumption of the future economic benefits. The right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability. The lease liability is initially measured at the present value of the lease payments not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company's incremental borrowing rate. Generally, the Company uses its incremental borrowing rate as the discount rate. The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Company's estimate of the amount expected to be payable under a residual value guarantee, or if the Company changes its assessment of whether it will exercise a purchase, extension or termination option. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. The Company has elected to apply the practical expedient not to recognize right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and leases of low-value assets. The lease payments associated with these leases are recognized as an expense on a straight-line basis over the lease term. (i) Impairment of non-financial assets Exploration and evaluation assets are tested for impairment when circumstances indicate that the carrying value may not be recoverable. When facts and circumstances suggest that the carrying amount of an asset exceeds its recoverable amount, the Company performs an impairment test by comparing the recoverable amount to the carrying amount of the relevant exploration and evaluation property. When the carrying value exceeds the recoverable amount of the relevant exploration and evaluation property, an impairment charge is recorded and the property is written down to its recoverable amount. In addition, exploration and evaluation assets are tested for impairment at the date they are transferred to mineral properties, plant and equipment. The Company’s mineral properties, plant and equipment are reviewed for any indication of impairment at each financial reporting date or at any time if an indicator of impairment is considered to exist. If any such indicators exist, an estimate of the recoverable amount is undertaken, being the higher of an asset’s fair value less costs of disposal and the asset’s value in use. If the asset’s carrying amount exceeds its recoverable amount then an impairment loss is recognized in net income or loss for the period, and the carrying value of the asset on the statement of financial position is reduced to its recoverable amount. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm’s length transaction between knowledgeable and willing parties. Fair value of mineral properties is generally determined as the present value of the estimated future cash flows expected to arise from the continued use of the asset, including any expansion prospects, discounted by an appropriate pre-tax discount rate to arrive at a net present value. Value in use is determined as the present value of the estimated future cash flows expected to arise from the continued use of the asset in its present form and from its ultimate disposal. Value in use is determined by applying assumptions specific to the Company’s continued use which includes future development. As such, these assumptions may differ from those used in calculating fair value. In testing for indicators of impairment and performing impairment calculations, assets are grouped into cash-generating units, which are identified as the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets. The estimates of future discounted cash flows are subject to risks and uncertainties including estimated production, grades, recoveries, future metals prices, discount rates, exchange rates and operating costs. Non-financial assets other than goodwill that have suffered an impairment are evaluated for possible reversal of the impairment whenever events or changes in circumstances indicate that the impairment may have reversed. When a reversal of a previous impairment is recorded, the reversal amount is adjusted for depreciation that would have been recorded had the impairment not been recorded. (j) Share-based compensation Equity-settled share-based compensation arrangements such as the Company’s stock option plan, restricted share unit plan, and deferred share unit plan are measured at fair value at the date of grant and recorded within equity. The restricted share unit plan includes restricted share units without performance-based criteria and performance share units, where the number of units that ultimately vest is dependent on the relative performance of the Company compared with a peer group of companies. The fair value at grant date of all share-based compensation is recognized as compensation expense over the vesting period, with a corresponding credit to shareholders’ equity. The amount recognized as an expense is adjusted to reflect share options forfeited. The Company estimates the fair value of share options granted using the Black-Scholes option pricing model. The Company estimates the fair value of equity settled performance share units (“PSU”) using a Monte Carlo valuation model at the date of grant. (k) Revenue recognition The Company recognizes revenue from the sale of precious metals, consisting of metal concentrates and refined gold, when the customer obtains control. For the metal concentrates sales, the customer obtains control upon delivery at the customer’s designated warehouse. The amount of revenue recorded upon initial recognition is based on the forward metal prices at that time and the estimated metal content. The payment terms are based on the individual customer contracts. For provisional payments, terms are typically 15 days from the date of provisional invoice, and for final payments, terms are typically five business days after the final weights, assays and prices are known and invoiced. Adjustments related to changes in metal prices and metal content up to the final settlement are recorded in revenue. For the refined gold, the customer obtains control when the refined gold has been physically delivered, which is also the date when title has passed to the buyer and the Company has issued an invoice pursuant to a transaction confirmation that fixes the quantity and price of the gold for each delivery. The amount of revenue recorded upon delivery is based on this transaction confirmation. The Company has no significant continuing involvement after delivery and no adjustments to revenue are made subsequent to initial recognition. (l) Reclamation and remediation provisions The Company’s mining and exploration activities are subject to various laws and regulations governing the protection of the environment. The Company recognizes the cost of future reclamation and remediation as a liability when: the Company has a legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and, a reasonable estimate of the obligation can be made. The liability is measured initially by discounting expected costs to the net present value using pre-tax rates and risk assumptions specific to the liability. The resulting cost is capitalized to the carrying value of the related assets or expensed to profit or loss where there is no carrying value of the related assets, or where the cost is not recoverable. In subsequent periods, the liability is adjusted for accretion of the discount with the offsetting amount charged to the statement of comprehensive income as a finance cost. Any change in the amount or timing of the underlying cash flows is adjusted to the carrying value of the liability, with the offsetting amount recorded as an adjustment to the reclamation and remediation provision cost included in mineral properties or exploration, evaluation and development expenses. Any amount charged to the carrying value of assets is depreciated over the remaining life of the relevant assets. It is reasonably possible that the ultimate cost of remediation and reclamation could change in the future due to uncertainties associated with defining the nature and extent of environmental disturbance, the application of laws and regulations by regulatory authorities, changes in remediation technology and changes in discount rates. The Company reviews its reclamation and remediation provision at least annually and as evidence becomes available indicating that its expected reclamation and remediation costs may have changed. Any such changes in costs could materially impact the future amounts recorded as reclamation and remediation provision. (m) Financial instruments The Company’s financial instruments consist of cash and cash equivalents, short-term deposits, marketable securities, trade and other receivables, loan receivable, restricted cash, trade and other payables, as well as derivative instruments. i) Classification The Company determines the classification of its financial instruments at initial recognition. Upon initial recognition, a financial asset is classified as measured at: amortized cost, fair value through profit and loss (“FVTPL”), or fair value through other comprehensive income (loss) (“FVOCI”). The classification of financial assets is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. A financial liability is classified as measured at amortized cost or FVTPL. A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as FVTPL: · it is held within a business model whose objective is to hold assets to collect contractual cash flows; and · its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as FVTPL: · it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and · its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. An equity investment that is held for trading is measured at FVTPL. For other equity investments that are not held for trading, the Company may irrevocably elect to designate them as FVOCI. This election is made on an investment-by-investment basis. All financial assets not classified as measured at amortized cost or FVOCI as described above are measured at FVTPL. This includes all derivative financial assets. On initial recognition, the Company may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortized cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise. Financial liabilities are measured at amortized cost, unless they are required to be measured at FVTPL (such as instruments held for trading or derivatives) or the Company has elected to measure them at FVTPL. ii) Measurement Initial measurement On initial recognition, all financial assets and financial liabilities are measured at fair value adjusted for directly attributable transaction costs except for financial assets and liabilities classified as FVTPL, in which case the transaction costs are expensed as incurred. Subsequent measurement The following accounting policies apply to the subsequent measurement of financial instruments: Financial assets at FVTPL These assets are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are recognized in profit or loss. Financial assets at amortized cost These assets are subsequently measured at amortized cost using the effective interest method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss. Equity investments at FVOCI These assets are subsequently measured at fair value. Dividends are recognized as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI and are never reclassified to profit or loss. Debt investments at FVOCI These assets are subsequently measured at fair value. Interest income is calculated using the effective interest rate method; foreign exchange gains and losses and impairment are recognized in profit or loss. Other net gains and losses are recognized in OCI. On derecognition, gains and losses accumulated in OCI are reclassified to profit or loss. Impairment of financial instruments The Company assesses at each reporting date whether there is objective evidence that a financial asset or a group of financial assets is impaired. For financial assets measured at amortized cost, and debt investments at FVOCI, the Company applies the expected credit loss model. (n) Provisions Provisions are liabilities that are uncertain in time or amount. The Company records a provision when (i) the Company has a present obligation (legal or constructive) as a result of a past event; (ii) it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and (iii) a reliable estimate can be made of the amount of the obligation. Provisions are reviewed at each reporting date and adjusted to reflect management’s current best estimate of the cost to settle the present obligation. Where discounting has been used, the carrying amount of a provision is accreted to reflect the passage of time and the accretion expense is included in finance costs in the consolidated statements of income (loss). (o) Income taxes Income tax is recognized in net income or loss except to the extent that it relates to items recognized directly in equity, in which case it is recognized directly in equity. Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or receivable in respect of previous years. The amount of current tax payable or receivable is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. It is measured using tax rates enacted or substantially enacted at the reporting date. Deferred tax assets and liabilities are determined based on differences between the financial statement carrying values of existing assets and liabilities and their respective income tax bases (temporary differences), and tax loss carry forwards. Deferred tax assets and liabilities are measured using enacted or substantively enacted tax rates expected to be in effect when the temporary differences are likely to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is included in net income in the period in which the change is substantively enacted. The amount of deferred tax assets recognized is limited to the amount that is, in management’s estimation, probable that future taxable profits will be available against which the asset can be utilized. Deferred tax assets and liabilities are offset (i) when there is a legally enforceable right to set off current tax assets against current tax liabilities, (ii) when they relate to income taxes levied by the same taxation authority, and (iii) the Company intends to settle its current tax assets and liabilities on a net basis. (p) Earnings per share Earnings per share is calculated based on the weighted average number of shares outstanding during the period. The Company follows the treasury stock method for the calculation of diluted earnings per share. Under this method, dilution is calculated based upon the net number of common shares issued should “in-the-money” options and warrants be exercised and the proceeds be used to repurchase common shares at the average market price during the period. Dilution from convertible securities is calculated based on the number of shares to be issued after taking into account the reduction of the related after-tax interest expense. Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per share is computed in a manner similar to basic earnings per share except that the weighted average shares outstanding are increased to include additional shares from restricted and deferred stock units and the assumed exercise of share options and warrants, if dilutive. (q) Segment reporting The Company has identified operating segments based on the internal reports that are reviewed and used by the Chief Executive Officer and the executive management team (the chief operating decision-maker – “CODM”) in assessing performance and in determining allocation of resources. The CODM considers the business from both a geographic and product perspective and assesses the performance of the operating segments based on measures such as net property, plant and equipment, as well as operating results. All operating segments’ operating results are reviewed regularly by the Company’s senior management to make decisions about resources to be allocated to the segment and to assess its performance, and for which discrete financial information is available. The Company has determined operating segments based on this information. Segment results that are reported to senior management include items directly attributable to a segment as well as those that can be allocated on a reasonable basis. Unallocated items are comprised mainly of corporate office expenses. (r) New and revised accounting standards not yet effective i) Property, plant and equipment - proceeds before intended use On May 14, 2020, the IASB issued a narrow scope amendment to IAS 16, Property, Plant and Equipment: Proceeds before Intended Use. The amendment prohibits deducting from the cost of property, plant and equipment amounts received from selling items produced while preparing the asset for its intended use. Instead, amounts received will be recognized as sales proceeds and the related cost in profit or loss. The effective date of the amendment is for annual periods beginning on or after January 1, 2022. The amendment must be applied retrospectively, but only to items of property, plant and equipment that are brought to the location and condition necessary for them to be capable of operating in the manner intended by management on or after the beginning of the earliest period presented in the consolidated financial statements in which the amendment is first applied. The Company will adopt this narrow scope amendment on the date it becomes effective. The amendment is not currently applic

SIGNIFICANT ACCOUNTING ESTIMATE

SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGMENTS	12 Months Ended
	Dec. 31, 2020
SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGMENTS
SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGMENTS	4. SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGMENTS The preparation of the consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions which affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are based on historical experience and other factors considered to be reasonable, and are reviewed on an ongoing basis. Revisions to estimates and the resulting effects on the carrying amounts of the Company’s assets and liabilities are accounted for prospectively. The Company has identified the following areas where significant estimates, assumptions and judgments are made and where actual results may differ from the estimates under different assumptions and conditions and may materially affect financial results of the Company reported in future periods. (a) Resource and reserve estimation The accuracy of resource and reserve estimates is a function of the quantity and quality of available data and assumptions made and judgments used in the geological and engineering interpretation and may be subject to revision based on various factors. Changes in resource estimates may impact the carrying value of a mineral property, plant and equipment, the calculation of amortization and depletion, the capitalization of mine development costs, and the timing of cash flows related to reclamation and remediation provision. (b) Useful lives of mineral properties, plant and equipment The Company estimates the remaining life of its producing mineral properties on an annual basis using a combination of quantitative and qualitative factors including historical results, Mineral Resource and Reserve estimates, and management’s intent to operate the property. The estimated remaining life of the producing mineral property is used to calculate amortization and depletion expense, assess impairment charges and the carrying values of assets, and forecast the timing of the payment of reclamation and remediation costs. There are numerous uncertainties inherent in the estimation of the remaining lives of the producing mineral properties, and assumptions that are valid at the time of estimation may change significantly when new information becomes available. Changes in the forecast prices of commodities, exchange rates, or production costs may change the economic status of the Mineral Resource and Reserves, estimates, economic potential of production from areas not included in the National Instrument 43‑101 (“NI 43‑101”) reports, and management’s intent to operate a property, and may ultimately have a material impact on the estimated remaining lives of the properties. (c) Reclamation and remediation provision The amounts recorded for reclamation and remediation provisions are based on estimates prepared by third-party environmental specialists, if available, or by persons within the Company who have the relevant skills and experience. These estimates are based on remediation activities required by environmental laws, the expected timing of cash flows, and the pre-tax risk-free interest rates on which the estimated cash flows have been discounted. These estimates also include an assumption of the rate at which costs may inflate in future periods. Actual results could differ from these estimates. The estimates require extensive judgment about the nature, cost and timing of the work to be completed, and may change with future changes to costs, environmental laws and regulations and remediation practices. (d) Review of asset carrying values and assessment of impairment The Company reviews each asset or cash generating unit at each reporting date to determine whether there are any indicators of impairment. If any such indication exists, a formal estimate of recoverable amount is performed and an impairment loss is recognized to the extent that the carrying amount exceeds the recoverable amount. The recoverable amount of an asset or cash generating unit is measured at the higher of fair value less costs to sell and value in use. The determination of fair value less costs of disposal and value in use requires management to make estimates and assumptions about expected production and sales volumes, metal prices, ore tonnage and grades, recoveries, operating costs, reclamation and remediation costs, future capital expenditures and appropriate discount rates for future cash flows. The estimates and assumptions are subject to risk and uncertainty, and as such there is the possibility that changes in circumstances will alter these projections, which may impact the recoverable amount of the assets. In such circumstances, some or all of the carrying value of the assets may be further impaired or the impairment charge reduced with the impact recorded in profit or loss. (e) Income taxes and recoverability of deferred tax assets In assessing the probability of realizing income tax assets, the Company makes estimates related to expected future taxable income, potential tax planning opportunities, estimated timing of reversals of temporary differences, and the likelihood that tax positions taken will be sustained upon examination by applicable tax authorities. Where applicable tax laws and regulations are unclear or subject to ongoing varying interpretations, it is reasonably possible that changes in these estimates can occur, which may materially affect the amounts of income tax assets recognized. In addition, future changes in tax laws could limit the Company’s ability to realize the benefits from deferred tax assets. (f) Determination of functional currencies The determination of an entity’s functional currency is a matter of judgment based on an assessment of the specific facts and circumstances relevant to determining the primary economic environment of each entity within the group. The Company reconsiders the functional currencies used when there is a change in events or conditions considered in determining the primary economic environment of each entity. (g) Leases The determination of whether a contract contains a lease under IFRS 16 is a matter of judgment based on the assessment of the specific terms and conditions in the contract. (h) Purchase price accounting Significant judgments were made by management on the purchase price accounting in arriving at estimated acquisition date fair values for the net assets acquired and liabilities assumed on the Acquisition of Beadell. (i) Contingencies Significant judgments were made by management in the determinations of the likelihood of loss for provisions and contingent liabilities related to the litigation and matters assumed upon the Acquisition (note 27(b)(iv)) and acquisition of Coricancha (note 27(b)(iii)).

ACQUISITION OF BEADELL RESOURCE

ACQUISITION OF BEADELL RESOURCES LIMITED	12 Months Ended
	Dec. 31, 2020
ACQUISITION OF BEADELL RESOURCES LIMITED
ACQUISITION OF BEADELL RESOURCES LIMITED	5. On the Acquisition Date, the Company acquired 100% of the issued and outstanding common shares of Beadell through the issuance of 103,593,043 Great Panther common shares to Beadell shareholders, representing approximately 38% of the post-Acquisition issued and outstanding Great Panther shares. The share exchange represented a ratio of 0.0619 Great Panther shares for each Beadell share (the “Exchange Ratio”). Additionally, the Company issued 9,749,727 share purchase warrants at an exercise price of $1.317 per share to replace the warrants previously issued by Beadell. The number of Company share purchase warrants issued were equal to the number of the outstanding Beadell warrants on the Acquisition Date multiplied by the Exchange Ratio, at a price adjusted in accordance with the Exchange Ratio, on the same terms and conditions as the original warrants. The Acquisition is a business combination and has been accounted for in accordance with the measurement and recognition provisions of IFRS 3, Business Combinations . IFRS 3 requires that the purchase consideration be allocated to the assets acquired and liabilities assumed in a business combination based upon their estimated fair values at the date of acquisition. Acquisition costs consisting of advisory, legal, accounting, valuation, and other professional or consulting fees directly associated with the transaction to acquire Beadell of $2,923 were expensed as incurred during the year ended December 31, 2019. On December 5, 2018, prior to the Acquisition, the Company entered into a loan agreement pursuant to which the Company advanced Beadell and its subsidiary, Mina Tucano Ltda (formerly Beadell Brasil Ltda) (“Mina Tucano”), as joint and several borrowers, a non-revolving term loan in the principal amount of $5,000 for their general working capital requirements. Prior to the Acquisition, the Company received partial repayment of $3,000 of the principal amount advanced and payment of accrued interest of $69, and the remaining principal balance of $2,000 was paid on July 11, 2019. Additionally, prior to the Acquisition, the Company also made a cash advance to Beadell of $354 in February 2019. The total outstanding balance at Acquisition of $2,370 (after adjusting for foreign exchange differences) was considered part of the exchange in the business combination and was therefore included in the liabilities assumed on the Acquisition Date. Pursuant to IFRS 3, adjustments made within the measurement period of one year from the Acquisition Date, which ends on March 5, 2020, are recognized as if the accounting for the business combination had been completed at the acquisition date. In March 2020, the Company received a mineral resource and reserve estimate report for Tucano prepared by independent mining consultant firm, Roscoe Postle & Associates (“RPA”). The report is dated effective September 30, 2019 and provides updated information regarding the resources and reserves at Tucano that was not available at the initial reporting of the preliminary purchase price allocation at March 31, 2019. The Company also received an updated reclamation obligation report for Tucano during the fourth quarter of 2019. The revised resource and reserve estimates presented in the report by RPA and the revised reclamation obligation gave rise to adjustments to amounts recognized for net identifiable assets and liabilities compared to those previously recognized on acquisition on a preliminary basis. The most significant changes to the purchase price allocation includes a decrease in mineral property, plant and equipment of $29,492, an increase in the reclamation and remediation provision of $6,534, an increase in deferred income tax liability of $3,457, and an adjustment to increase goodwill by $38,682. The following table summarizes the preliminary allocation of the purchase price to the assets acquired and liabilities assumed based on the preliminary estimates of fair value and the adjustments made pursuant to the revised estimate of mineral resources and reserves and reclamation obligation, at the Acquisition Date to arrive at the final purchase price allocation: Preliminary Definitive Purchase Price Purchase Price Allocation Adjustments Allocation 103,593,043 common shares issued (1) $ 93,235 $ — $ 93,235 9,749,727 warrants issued 2,646 — 2,646 Consideration 95,881 — 95,881 Cash and cash equivalents 1,441 — 1,441 Trade and other receivables 26,733 (124) 26,609 Inventories 36,820 1,354 38,174 Other current assets 1,227 (352) 875 Restricted cash 61 — 61 Mineral properties, plant and equipment 143,147 (29,492) 113,655 Right-of-use assets 18,397 — 18,397 Exploration and evaluation assets 309 — 309 Other receivables – non-current 735 125 860 Trade payables and accrued liabilities (29,024) (126) (29,150) Borrowings (69,473) — (69,473) Lease liabilities (18,397) — (18,397) Deferred income tax liability — (3,457) (3,457) Great Panther loan advance (2,370) — (2,370) Reclamation and remediation provision (6,375) (6,534) (12,909) Other liabilities and provisions (7,350) (76) (7,426) Net identifiable assets acquired 95,881 (38,682) 57,199 Goodwill — 38,682 38,682 $ 95,881 $ — $ 95,881 (1) The common shares were valued at the closing price of the Company’s shares on the NYSE American on March 5, 2019 was ($0.90). The report by RPA identified a significant difference in the amount of economically recoverable resources and reserves acquired and as a result of this difference, the fair value of the mineral properties was re-measured. The decrease in fair value for the mineral properties and recognition of a higher reclamation obligation resulted in goodwill being recognized. The goodwill was determined to be impaired during the quarter ended March 31, 2019. The Company’s reported consolidated statement of profit (loss) for the nine months ended September 30, 2019 as originally reported has been adjusted as if the adjustment to the purchase price allocation and the accounting for the business combination had been completed at the Acquisition Date. The following table details amounts previously reported for the nine months ended September 30, 2019 together with the profit or loss adjustments arising on the finalization of the accounting for the business combination: Preliminary Definitive Purchase Price Purchase Price Allocation Adjustments Allocation Revenue $ 132,974 $ — $ 132,974 Cost of sales Production costs 97,051 2,496 99,547 Amortization and depletion 21,238 61 21,299 Share-based compensation 238 — 238 General and administrative expenses 8,574 — 8,574 Exploration, evaluation, and development expenses 10,148 — 10,148 Impairment of goodwill — 38,682 38,682 Business acquisition costs 2,863 — 2,863 Care and maintenance costs 599 — 599 Finance and other expense 12,280 808 13,088 Loss before income taxes (20,017) (42,047) (62,064) Income tax expense 891 — 891 Net loss for the year $ (20,908) $ (42,047) $ (62,955) The revenue and net loss of Beadell since the Acquisition Date included in the Consolidated Statement of Comprehensive Income (Loss) for the year ended December 31, 2019 are disclosed in note 30. The revenue and net loss of the combined entity for the year ended December 31, 2019 as though the Acquisition had been as at January 1, 2019 would be $228,691 and $96,124, respectively.

TRADE AND OTHER RECEIVABLES

TRADE AND OTHER RECEIVABLES	12 Months Ended
	Dec. 31, 2020
TRADE AND OTHER RECEIVABLES
TRADE AND OTHER RECEIVABLES	6 . TRADE AND OTHER RECEIVABLES December 31, December 31, Current Trade receivables $ 2,011 $ 4,605 Value-added tax receivable 3,839 4,894 PIS / COFINS - Brazil (a) 8,732 10,889 Judicial deposits - Brazil 302 389 Other 760 979 15,644 21,756 Non-Current PIS / COFINS - Brazil (a) 9,058 8,988 Income taxes recoverable - Brazil 2,764 1,152 Other 14 15 $ 11,836 $ 10,155 (a) PIS/COFINS The PIS (Program of Social Integration) and COFINS (Contribution for the Financing of Social Security) are Brazilian federal taxes that apply to all companies in the private sector. PIS is a mandatory employer contribution to an employee savings initiative, and COFINS is a contribution to finance the social security system. Companies are required to calculate and remit PIS and COFINS based on monthly gross revenues. The Company’s Brazilian gold sales are zero-rated for PIS/COFINS purposes; however, the current legislation allows for input tax credits to offset the amounts due by applying rates of 1.65% for PIS and 7.65% for COFINS, respectively, to some of the purchases in Brazil. As such, the Company has PIS/COFINS credits recorded as receivables. The Company continues to pursue the refund of its PIS/COFINS receivables. To the extent the Company is unable to receive refunds for all of its PIS/COFINS assets, the Company expects that PIS/COFINS assets will be recovered through the Company generating future Brazilian federal tax liabilities, which can be offset against the Company’s PIS/COFINS assets if the Company elects to do so.

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2020
INVENTORIES
INVENTORIES	7. INVENTORIES December 31, December 31, Concentrate $ 578 $ 968 Ore stockpiles 11,562 15,417 Materials and supplies 18,538 15,400 Gold in circuit 1,266 902 Gold bullion 1,794 2,430 Silver bullion 5 3 $ 33,743 $ 35,120 During the year ended December 31, 2020, the inventory recognized as cost of sales was $161.8 million (2019 – $154.1 million), which includes production costs and amortization and depletion directly attributable to the inventory production process.

OTHER CURRENT ASSETS

OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2020
OTHER CURRENT ASSETS
OTHER CURRENT ASSETS	8. December 31, December 31, Prepaid expenses and deposits $ 3,569 $ 818 Reimbursement rights (note 11(a)) 1,918 6,465 Derivative assets (note 14) — 3,454 Marketable securities 1 1 Other current assets 187 642 $ 5,675 $ 11,380

MINERAL PROPERTIES, PLANT AND E

MINERAL PROPERTIES, PLANT AND EQUIPMENT	12 Months Ended
	Dec. 31, 2020
MINERAL PROPERTIES, PLANT AND EQUIPMENT
MINERAL PROPERTIES, PLANT AND EQUIPMENT	9. Furniture, Mineral Mineral fixtures properties – properties – Plant and Land and and Right-of-use depletable non depletable equipment buildings equipment assets Total Cost Balance, January 1, 2020 $ 58,237 $ 43,186 $ 83,335 $ 22,548 $ 5,636 $ 22,685 $ 235,627 Additions 32,754 — 3,499 5,692 3 890 42,838 Change in remediation provision 3,546 — (342) — — — 3,204 Foreign exchange translation difference (6,375) (9,317) (10,411) (4,443) (132) (4,670) (35,348) Balance, December 31, 2020 $ 88,162 $ 33,869 $ 76,081 $ 23,797 $ 5,507 $ 18,905 $ 246,321 Accumulated depreciation Balance, January 1, 2020 $ 38,964 $ — $ 44,769 $ 5,726 $ 4,549 $ 7,809 $ 101,817 Amortization and depletion 15,790 — 15,435 4,508 430 4,881 41,044 Foreign exchange translation difference (1,129) — (3,286) (891) (46) (1,747) (7,099) Balance, December 31, 2020 $ 53,625 $ — $ 56,918 $ 9,343 $ 4,933 $ 10,943 $ 135,762 Carrying value, December 31, 2020 $ 34,537 $ 33,869 $ 19,163 $ 14,454 $ 574 $ 7,962 $ 110,559 Cost Balance, January 1, 2019 $ 36,066 $ — $ 35,184 $ 2,573 $ 4,987 $ 1,150 $ 79,960 Acquisition of Beadell 3,676 46,608 46,726 16,145 500 18,397 132,052 Additions 16,346 — 4,401 4,940 223 4,498 30,408 Change in remediation provision 2,996 — 30 — — — 3,026 Disposals — — (185) (3) (44) (33) (265) Foreign exchange translation difference (847) (3,422) (2,281) (1,107) (30) (1,327) (9,554) Balance, December 31, 2019 $ 58,237 $ 43,186 $ 83,335 $ 22,548 $ 5,636 $ 22,685 $ 235,627 Accumulated depreciation Balance, January 1, 2019 $ 32,051 $ — $ 27,593 $ 1,653 $ 4,121 $ — $ 65,418 Amortization and depletion 6,820 — 17,434 4,095 464 7,878 36,691 Disposals — — (185) — (41) (6) (232) Foreign exchange translation difference 93 — (73) (22) 5 (63) (60) Balance, December 31, 2019 $ 38,964 $ — $ 44,769 $ 5,726 $ 4,549 $ 7,809 $ 101,817 Carrying value, December 31, 2019 $ 19,273 $ 43,186 $ 38,566 $ 16,822 $ 1,087 $ 14,876 $ 133,810 (a) Changes in estimate i) Updated Mineral Resource and Reserve estimates for 2020 On March 9, 2020, the Company provided an update on the Mineral Resource for the GMC, with effective dates of October 31, 2019, and July 31, 2019, for the Guanajuato Mine and San Ignacio, respectively. Management reviewed the remaining useful life of the GMC and determined that it remains at two years as at December 31, 2019, unchanged from the previous estimate. On March 9, 2020, the Company provided an update on the Mineral Resource and Reserves for Tucano, with an effective date of September 30, 2019, following which management reviewed the remaining useful life of Tucano. The estimate of the useful life of Tucano was determined to be two years as at December 31, 2019. ii) Updated Mineral Resource and Reserve estimates for 2021 On November 23, 2020, the Company provided an update on the Mineral Resource for the GMC, with an effective date of July 31, 2020. The estimate of the useful life of the GMC was determined to be two years as at December 31, 2020. The estimate of the useful life of the GMC increased by one year compared to the previous estimate. On December 15, 2020, the Company provided an update on the Mineral Resource and Reserves for Tucano, with an effective date of September 30, 2020, following which management reviewed the remaining useful life of Tucano. The estimate of the useful life of Tucano was determined to be three years as at December 31, 2020. The estimate of the useful life of Tucano increased by two years compared to the previous estimate. (b) Leases i) Right-of-use assets Mining Power Office & Land equipment generators Vehicles Communication easements Total Balance, January 1, 2020 $ 7,376 $ 5,035 $ 1,095 $ 658 $ 712 $ 14,876 Additions 801 — — 89 — 890 Amortization and depletion (2,663) (1,437) (378) (266) (137) (4,881) Foreign exchange translation difference (1,589) (1,090) (241) (3) — (2,923) Balance, December 31, 2020 $ 3,925 $ 2,508 $ 476 $ 478 $ 575 $ 7,962 Mining Power Office & Land equipment generators Vehicles Communication easements Total Balance, January 1, 2019 $ — $ — $ — $ 881 $ 269 $ 1,150 Acquisition of Beadell 8,402 7,732 1,923 340 — 18,397 Additions 3,853 57 — — 588 4,498 Disposals — — — (27) — (27) Amortization and depletion (4,244) (2,264) (707) (518) (145) (7,878) Foreign exchange translation difference (635) (490) (121) (18) — (1,264) Balance, December 31, 2019 $ 7,376 $ 5,035 $ 1,095 $ 658 $ 712 $ 14,876 ii) Lease liabilities December 31, December 31, Maturity analysis – contractual undiscounted cash flows Less than one year $ 5,855 $ 6,707 One to five years 5,475 12,558 More than five years 98 123 Total undiscounted lease liabilities 11,428 19,388 Lease liabilities in the Consolidated Statement of Financial Position 11,221 17,986 Current (note 12 (a)) 5,296 5,499 Non-current (note 12 (b)) $ 5,925 $ 12,487 iii) Amount recognized in the Consolidated Statements of Comprehensive Income Interest on lease liabilities $ 1,332 $ 1,564 Variable lease payments not included in the measurement of lease liabilities 49,723 43,889 Expenses relating to short-term leases 15,564 12,953 Expenses relating to leases of low-value assets, excluding short-term leases of low-value assets 11 13 Expenses relating to short-term leases for the year ended December 31, 2020, of $15.6 million (2019 - $13.0 million) include costs for mining services and haulage in the amount of $14.5 million (2019 - $11.9 million). The Company has elected not to separate the lease component from the non-lease component for short-term leases that have a lease term of less than one year.

EXPLORATION AND EVALUATION ASSE

EXPLORATION AND EVALUATION ASSETS	12 Months Ended
	Dec. 31, 2020
EXPLORATION AND EVALUATION ASSETS
EXPLORATION AND EVALUATION ASSETS	10. EXPLORATION AND EVALUATION ASSETS Santa Rosa El Horcón Property Property Coricancha Tucano Total Balance, January 1, 2019 $ 988 $ 1,124 $ $ — $ 15,065 Acquisition of Beadell (note 5) — — — 309 309 Change in reclamation and remediation provision — — 304 — 304 Foreign exchange translation difference — — — (19) (19) Balance, December 31, 2019 $ 988 $ 1,124 $ 13,257 $ 290 $ 15,659 Change in reclamation and remediation provision — — 10,739 — 10,739 Foreign exchange translation difference — — — (64) (64) Balance, December 31, 2020 $ 988 $ 1,124 $ 23,996 $ 226 $ 26,334

OTHER ASSETS

OTHER ASSETS	12 Months Ended
	Dec. 31, 2020
OTHER ASSETS
OTHER ASSETS	11. OTHER ASSETS December 31, December 31, Restricted cash $ 31 $ 927 Reimbursement rights (a) 12,178 4,705 Deferred tax assets — 145 $ 12,209 $ 5,777 (a) Reimbursement rights Pursuant to the acquisition of Coricancha, the vendor, Nyrstar N.V. (“Nyrstar”) agreed to reimburse the Company for: · the cost of movement and reclamation of certain legacy tailings facilities should the regulatory authorities require these to be moved, up to a maximum of $20.0 million; and · all fines or sanctions that arise before or after closing resulting from activities or ownership of Coricancha prior to June 30, 2017, up to a maximum of $4.0 million.

TRADE PAYABLES AND ACCRUED LIAB

TRADE PAYABLES AND ACCRUED LIABILITIES AND OTHER LIABILITIES	12 Months Ended
	Dec. 31, 2020
TRADE PAYABLES AND ACCRUED LIABILITIES AND OTHER LIABILITIES
TRADE PAYABLES AND ACCRUED LIABILITIES AND OTHER LIABILITIES	12. TRADE PAYABLES AND ACCRUED LIABILITIES AND OTHER LIABILITIES (a) Trade payables and accrued liabilities December 31, December 31, Trade payables $ 27,478 $ 27,311 Accrued liabilities 14,758 13,181 Taxes payable 3,306 499 Lease liabilities 5,296 5,499 Other payables 2,383 3,043 $ 53,221 $ 49,533 (b) Other liabilities December 31, December 31, Lease liabilities $ 5,925 $ 12,487 Accrued liabilities 192 4,591 $ 6,117 $ 17,078

BORROWINGS

BORROWINGS	12 Months Ended
	Dec. 31, 2020
BORROWINGS
BORROWINGS	13. BORROWINGS Unsecured bank Bank MACA facilities overdraft IXM Note Bradesco Samsung Total Balance, January 1, 2020 $ 16,060 $ 16,034 $ 589 $ 10,010 $ — $ — $ 42,693 Borrowings — 22,044 219 — 2,500 11,250 36,013 Interest accrued 449 891 — 548 223 583 2,694 Principal repayments (12,686) (20,500) (846) (10,000) — (804) (44,836) Interest payments (628) (953) — (558) (319) (561) (3,019) Foreign exchange (185) — 38 — — — (147) Balance, December 31, 2020 $ 3,010 $ 17,516 $ — $ — $ 2,404 $ 10,468 $ 33,398 Current $ 3,010 $ 17,516 $ — $ — $ 736 $ 9,671 $ 30,933 Non-current $ — $ — $ — $ — $ 1,668 $ 797 $ 2,465 Note (a) (b) (c) (d) Currency AUD USD USD USD USD USD Nominal interest rate 5.5 % 5.4 % 13.7 % 3-month LIBOR plus 5 % 3.7 % 3-month LIBOR plus 5 % Year of maturity (a) MACA The Company made cash repayments to MACA totalling $12.7 million (A$18.5 million) during the year ended December 31, 2020, including $1.5 million (A$2.1 million), which represented 10% of the net cash proceeds from the bought deal financing (note 16(f)) required to be paid to MACA and applied against the outstanding balance of the loan under the amended loan agreement. (b) Unsecured bank facilities The Company has unsecured, revolving, interest-bearing bank facilities totalling $17.5 million. The unsecured bank facilities are interest bearing at a weighted average fixed interest rate of 5.4% per annum and are repayable through December 2021. Subsequent to December 31, 2020, facilities totalling $1.4 million matured and were not renewed. (c) Bradesco On March 11, 2020, the Company received a loan from Bradesco in the amount of $10.0 million, with net loan proceeds of $2.5 million as $7.5 million is required to be retained as cash collateral. The loan matures on February 24, 2023, and is required to be repaid in nine quarterly repayments of $1.1 million commencing March 5, 2021. The return of the cash collateral will be proportionate to the quarterly loan repayments, resulting in net quarterly repayments of $0.3 million commencing March 5, 2021. The loan principal of $10.0 million bears interest at 3.7% per annum, and the cash collateral of $7.5 million bears interest from 1.55% to 2.40% per annum. The cash collateral of $7.5 million has been netted against the $10.0 million borrowings at December 31, 2020. (d) Samsung On January 6, 2020, the Company entered an $11.3 million gold doré prepayment agreement with Samsung (the "Agreement"). In consideration of delivery and sale of approximately 3,000 ounces of gold contained in doré per month over a two-year period commencing January 2020 from Tucano, Samsung has agreed to advance $11.3 million (the "Advance") to Great Panther. Gold deliveries are sold at a 0.65% discount to the benchmark price of gold at the time of delivery. The Advance will be repaid in equal instalments of $0.8 million commencing December 2020 until January 2022 such that all amounts outstanding to Samsung will be repaid in full. The Advance bears interest at an annual rate of 3-month USD LIBOR plus 5% and is secured by a pledge of all equity interests in Great Panther's Brazilian subsidiary that owns Tucano. Great Panther has a full option for early repayment of the Advance, subject to a 3% penalty applied to the outstanding balance. The Agreement also provides Samsung with a right of offer for concentrates produced from Coricancha in certain circumstances. The transaction was completed on February 4, 2020, upon the funding of the Advance.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	12 Months Ended
	Dec. 31, 2020
DERIVATIVE INSTRUMENTS
DERIVATIVE INSTRUMENTS	14. DERIVATIVE INSTRUMENTS A significant portion of the Company’s capital, exploration, operating and administrative expenditures are incurred in BRL and Mexican peso ("MXN"), while revenues from the sale of refined gold and metal concentrates are denominated in USD. The fluctuation of the USD in relation to the BRL and MXN consequently impacts the reported financial performance of the Company. To manage the Company’s exposure to changes in the BRL and MXN exchange rate, the Company has entered, for time to time, into forward contracts to purchase foreign currencies in exchange for USD at various rates and maturity dates. As at December 31, 2020, non-deliverable forward foreign exchange contracts for BRL against USD totalling BRL 88.2 million (December 31, 2019 – BRL 418.2 million) at various pre-determined rates ranging from BRL 4.37/USD to BRL 4.45/USD, at various maturity dates until February 2021, were outstanding. The fair value of these contracts resulted in a liability of $3.0 million at December 31, 2020 (December 31, 2019 - asset of $3.5 million). A non-deliverable forward foreign exchange contract does not require physical delivery of the designated currencies at maturity. The objective of the Company’s BRL/USD hedging strategy, which was executed in the fourth quarter of 2019 and first quarter of 2020, was to reduce exposure to any appreciation in the BRL, which was at or near record lows relative to the USD. This allowed the Company to gain better certainty with regard to the Company’s projected operating cash-flows and capital expenditures for Tucano at a time of lower gold prices. The Company has not entered any additional forward contracts since January 2020.

RECLAMATION AND REMEDIATION PRO

RECLAMATION AND REMEDIATION PROVISIONS	12 Months Ended
	Dec. 31, 2020
RECLAMATION AND REMEDIATION PROVISIONS
RECLAMATION AND REMEDIATION PROVISIONS	15. RECLAMATION AND REMEDIATION PROVISIONS The Company’s reclamation and remediation provisions relates to site restoration, clean-up, ongoing treatment, and monitoring at Tucano in Brazil, the GMC and Topia in Mexico, and Coricancha in Peru. December 31, 2020 December 31, 2019 Total Current Non-current Total Current Non-current Tucano $ 15,241 $ — $ 15,241 $ 17,079 $ — $ 17,079 GMC 8,184 348 7,836 8,725 — 8,725 Topia 6,601 — 6,601 4,697 — 4,697 Coricancha 38,299 610 37,689 25,073 4,927 20,146 $ 68,325 $ 958 $ 67,367 $ 55,574 $ 4,927 $ 50,647 December 31, December 31, Balance, beginning of year $ 55,574 $ 27,420 Acquisition of Beadell (note 5) — 12,909 Change in estimates 16,607 13,389 Accretion 1,517 1,840 Reclamation work performed (902) — Foreign exchange (4,471) 16 Balance, end of year $ 68,325 $ 55,574 In 2020, the change in reclamation estimates at the GMC, Topia, Coricancha and Tucano were $0.3 million decrease (2019 – $6.7 million), $2.2 million increase (2019 – $3.2 million), $13.7 million increase (2019 – $0.6 million), and $1.0 million increase (2019 – $2.9 million), respectively. The change in reclamation estimates at the GMC reduced the carrying value of the related property and equipment. The change in estimates for Topia and Tucano were capitalized to mineral properties, plant and equipment, and for Coricancha, the change in estimate was capitalized to exploration and evaluation assets. The reclamation and remediation provision for the GMC and Topia operations is based on the following assumptions: Total estimated future cash flows $ 18,895 $ 15,745 Expected settlement of obligations (years) 2021 - 2043 2021 – 2045 Weighted average risk-free rate (discount rate) GMC 4.6 % 1.9 % Topia 4.8 % 2.1 % A 1% change in the discount rate while holding the other assumptions constant would decrease or increase the provision by $0.6 million. The reclamation and remediation provision for Coricancha is based on the following assumptions: Total estimated future cash flows $ 42,725 $ 33,795 Expected settlement of obligations (years) 2021 - 2049 2020 – 2049 Weighted average risk-free rate (discount rate) 0.8 % 3.4 % For Coricancha, a portion of the reclamation and remediation provision is offset by a reimbursement rights receivable (note 11(a)). Of the total estimated cash flows of $42.7 million, $12.2 million is reimbursable. A 1% change in the discount rate would decrease or increase the provision by $3.0 million while holding the other assumptions constant. The reclamation and remediation provision for Tucano is based on the following assumptions: Total estimated cash flows $ 22,594 $ 19,731 Expected settlement of obligations (years) 2024 - 2029 2024 - 2029 Weighted average risk-free rate (discount rate) % 6.7 % A 1% change in the discount rate would decrease or increase the provision by $0.7 million while holding the other assumptions constant.

SHARE CAPITAL

SHARE CAPITAL	12 Months Ended
	Dec. 31, 2020
SHARE CAPITAL
SHARE CAPITAL	16. SHARE CAPITAL (a) Authorized share capital The Company has an unlimited number of common shares without par value authorized for issue. The Company has an unlimited number of Class A and Class B preferred shares without par value authorized for issue. Each class can be issuable in series. No preferred shares have ever been issued. (b) Share options In June 2020, upon approval by shareholders, the Company adopted an Omnibus Incentive Plan (the “Omnibus Plan”) to supplement and eventually replace the then-existing stock option plan (the "2016 Plan"). Pursuant to the Omnibus Plan, the Company may grant stock options (“Options”), restricted share units (“RSUs”), PSUs, and deferred share units (“DSUs”) to eligible employees, officers, directors, or consultants. The maximum number of common shares that the Company may issue is limited to 8% of the outstanding common shares, less the number of stock options already outstanding pursuant to the 2016 Plan and the Omnibus Plan, less twice the number of common shares counted as RSU, PSU, and DSU awards. There are additional limits with respect to insiders, individual grants, annual grants, and the number of which may be awarded to non-executive directors. Options granted under the 2016 Plan will remain outstanding and be governed by the terms of the 2016 Plan. Options granted after the adoption of the Omnibus Plan will be governed by the Omnibus Plan. Pursuant to the Omnibus Plan, options are non-transferable. The exercise price of options shall not be less than the closing price of the common shares on the Toronto Stock Exchange on the last business day immediately preceding the date of grant. Grant date share price is the closing market price on the day the options were granted. Options have expiry dates of no later than ten years after the date of grant and will cease to be exercisable three months following the termination of the participant’s employment or engagement. Pursuant to the 2016 Plan, options are non-transferable, subject to permitted transferees, and the aggregate may not exceed 10% of the outstanding shares at the time of an option grant, and the aggregate to any one person may not exceed 5% of the outstanding shares. The exercise price of options is determined by the Board but shall not be less than the closing price of the common shares on the Toronto Stock Exchange on the last business day immediately preceding the date of grant. Grant date share price is the closing market price on the day the options were granted. Options have expiry dates of no later than five years after the date of grant and cease to be exercisable 90 days following the termination of the participant’s employment or engagement. 2020 2019 Weighted Weighted Options average Options average (000’s) exercise price (000’s) exercise price Outstanding, January 1 8,316 C$ 1.20 8,322 C$ 1.27 Granted 6,255 0.56 3,491 1.01 Forfeited/Expired (3,582) 0.78 (2,580) 1.33 Exercised (1,280) 0.74 (917) 0.73 Outstanding, December 31 9,709 C$ 1.00 8,316 C$ 1.20 Exercisable, December 31 3,355 C$ 1.65 5,210 C$ 1.24 Weighted average Options remaining Options Weighted outstanding contractual life exercisable average Range of exercise prices (000’s) (years) (000’s) exercise price C$0.54 to $0.61 4,552 4.27 — C$ — C$0.62 to $1.07 2,080 3.79 526 0.97 C$1.08 to $1.59 641 2.72 522 1.37 C$1.60 to $1.90 1,379 2.07 1,250 1.61 C$1.91 to $2.19 1,057 0.61 1,057 2.18 9,709 3.36 3,355 C$ 1.65 During the year ended December 31, 2020, the Company recorded share-based compensation expense relating to share options of $0.7 million (2019 – $0.6 million). The weighted average fair value of options granted during the year ended December 31, 2020, was C$0.23 (2019 – C$0.38). The grant date fair value of share options granted was determined using a Black Scholes option pricing model using the following weighted average assumptions: Risk-free interest rate 0.45 % 1.36 % Expected life (years) 3.11 3.05 Annualized volatility 62 % 54 % Forfeiture rate 17 % 15 % The annualized volatility assumption is based on the historical volatility of the Company’s common share price on the Toronto Stock Exchange. The risk-free interest rate assumption is based on government bonds with a remaining term equal to the expected life of the options. (c) Restricted share units ("RSUs"), Performance based restricted share unit (“PSUs”) and Deferred share units ("DSUs") RSUs are awards for service which upon vesting and settlement entitle the recipient to receive common shares, a cash equivalent, or a combination thereof. Vesting conditions for RSUs are set by the Board but cannot exceed three years. The choice of settlement method is at the Company’s sole discretion. The RSUs granted to date vest in several tranches over three years. An estimated forfeiture rate calculated and updated based on historical forfeitures and cancellations was used in the determination of fair value for the purposes of computing share-based compensation expense in the consolidated financial statements. PSUs are granted to senior executives, and vest after a performance period of up to three years. The number of units that will ultimately vest ranges between 0% - 200% based on relative performance against a peer group of companies. The PSUs granted may only be settled through the issuance of common shares. Performance results at the end of the performance period relative to the predetermined performance criteria and the application of the corresponding performance multiplier determine how many PSUs vest for each participant. DSUs are awards to participants for directorship which settle upon termination of service of the participant. Vesting conditions for DSUs are set by the Board. Upon settlement, DSUs entitle the recipient to receive common shares, a cash equivalent, or a combination thereof. The choice of settlement method is at the Company's sole discretion. Timing of settlement after vesting occurs is at the discretion of the participant and can be any time between the date of termination of service of the participant and December 15th of the following calendar year. The DSUs granted to date have vested immediately. The fair values of the DSUs and RSUs granted to employees and directors have been estimated by reference to the fair value on the grant date of the equity instruments granted. The fair value of PSU was measured based on the fair value at the grant date using the Monte Carlo simulation technique on stock prices. The Company has no history of paying dividends, and consequently, no amounts in respect of dividends were included in the estimates of fair value of the equity instruments granted. The following table summarizes information about the RSUs outstanding at December 31, 2020 and 2019: 2020 2019 Weighted Weighted average grant average grant Number of date fair value Number of date fair value units ($/unit) units ($/unit) Balance at January 1 1,243,530 C$ 1.19 733,667 C$ 1.59 Granted 1,636,000 0.56 2,429,640 1.02 Settled (779,596) 1.10 (1,187,459) 1.14 Cancelled (188,500) 1.02 (732,318) 1.16 Outstanding at December 31 1,911,434 C$ 0.70 1,243,530 C$ 1.19 The following table summarizes information about the PSUs outstanding at December 31, 2020 and 2019: 2020 2019 Weighted Weighted average average grant grant date fair Number of date fair value Number of value units ($/unit) units ($/unit) Balance at January 1 531,000 C$ 1.14 — C$ — Granted 1,510,700 0.56 531,000 1.14 Cancelled (137,200) 0.89 — — Outstanding at December 31 1,904,500 C$ 0.70 531,000 C$ 1.14 The following table summarizes information about the DSUs outstanding at December 31, 2020 and 2019: 2020 2019 Weighted Weighted average grant average grant Number of date fair value Number of date fair value units ($/unit) units ($/unit) Balance at January 1 946,150 C$ 1.19 251,400 C$ 1.59 Granted 2,167,939 0.57 732,550 1.05 Settled (693,900) 0.69 (37,800) 1.16 Outstanding at December 31 2,420,189 C$ 0.78 946,150 C$ 1.19 During the year ended December 31, 2020, the Company recorded share-based compensation expense relating to RSUs and DSUs of $1.4 million (2019 – $1.2 million). Share-based compensation expense of $0.4 million (2019 - $nil) relating to PSUs was recorded based on the estimated number of PSUs expected to vest. (d) Share purchase warrants As part of the Acquisition, the Company issued 9,749,727 share purchase warrants at an exercise price of $1.317 per share to replace the warrants previously issued by Beadell. 6,321,965 share purchase warrants have an expiry date of May 17, 2022, and 3,428,032 share purchase warrants have an expiry date of June 27, 2022. (e) Earnings (loss) per share Income (loss) attributable to equity owners $ 334 $ (91,022) Weighted average number of shares (000's) 337,834 273,380 Earnings (loss) per share ‒ basic $ 0.00 $ (0.33) Earnings (loss) attributable to equity owners $ 334 $ (91,022) Weighted average number of shares (000's) 337,834 273,380 Effect of dilutive stock options, RSUs and DSUs 6,362 — Weighted average diluted number of shares (000's) 344,196 273,380 Earnings (loss) per share ‒ diluted $ 0.00 $ (0.33) Anti-dilutive share purchase options, warrants, deferred share units, restricted share units and performance share units have not been included in the diluted earnings per share calculation. (f) Financings On July 9, 2019, the Company entered into the ATM Agreement, under which the Company will be entitled, at its discretion and from time-to-time during the term of the ATM Agreement, to sell common shares of the Company on the market for a period of two years equal to the lesser of i) 10% of the aggregate market value of the Company’s outstanding common shares as at the last trading day of the month before the month in which the first trade under the offering is made, and ii) aggregate gross proceeds of $25.0 million. As at December 31, 2020, the Company has not issued any common shares under the ATM Facility. On August 8, 2019, the Company closed a bought deal financing for aggregate gross proceeds of $17.3 million, pursuant to which the Company issued 23,000,000 common shares of the Company at the price of $0.75 per share. The Company paid a cash commission to the underwriters equal to 5% of the gross proceeds of the financing and recognized net proceeds of $15.9 million after deducting share issuance costs. On May 20, 2020, the Company closed a bought deal financing for aggregate gross proceeds of $16.1 million, pursuant to which the Company issued 40,250,000 common shares of the Company at the price of $0.40 per share. The Company paid a cash commission to the underwriters equal to 6% of the gross proceeds of the financing and recognized net proceeds of $14.7 million after deducting share issuance costs.

REVENUE

REVENUE	12 Months Ended
	Dec. 31, 2020
REVENUE
REVENUE	17. REVENUE The Company generates revenue primarily from the sale of precious metals, consisting of metal concentrates and refined gold. In the following table, revenue is disaggregated by the geographic location of the Company's mines and major products. 2020 2019 Brazil Mexico Total Brazil Mexico Total Gold $ 223,272 $ 12,841 $ 236,113 $ 153,504 $ 16,724 $ 170,228 Silver 487 22,473 22,960 93 23,028 23,121 Lead — 2,180 2,180 — 3,617 3,617 Zinc — 3,161 3,161 — 4,861 4,861 Ore processing revenue — 34 34 — 102 102 Smelting and refining charges (69) (4,031) (4,100) (200) (3,524) (3,724) Revenue from contracts with customers $ 223,690 $ 36,658 $ 260,348 $ 153,397 $ 44,808 $ 198,205 Changes in fair value from provisional pricing — 457 457 — 448 448 Total revenue $ 223,690 $ 37,115 $ 260,805 $ 153,397 $ 45,256 $ 198,653 The amount of revenue recognized in the year ended December 31, 2020, from performance obligations satisfied (or partially satisfied) in the previous period, due to the current period settlement of metal concentrate revenue recognized in the prior periods was a reduction of revenue of $0.2 million. At December 31, 2020, the Company had $2.5 million in revenue subject to provisional pricing in relation to the sale of concentrates. For the years ended December 31, 2020 and 2019, the Company had revenue contracts with five customers (2019 - three customers) that accounted for the majority of the total revenues as follows: Customer Geographical Market Customer A Brazil $ 122,303 $ — Customer B Brazil 64,426 — Customer C Brazil 36,961 153,397 Customer D Mexico (Guanajuato) 21,281 2,549 Customer E Mexico (Topia) 13,950 — Customer F Mexico (Guanajuato) (9) 18,445 Customer F Mexico (Topia) (110) 19,892 Customer G Mexico (Guanajuato) — 2,571 Customer G Mexico (Topia) 1,969 1,697 Customer H Mexico (Topia) 34 102 $ 260,805 $ 198,653 The trade accounts receivable balance of $2.0 million at December 31, 2020 related to Customers B, D, E and G (December 31, 2019 – $4.6 million, related to Customers F and G).

PRODUCTION COSTS

PRODUCTION COSTS	12 Months Ended
	Dec. 31, 2020
PRODUCTION COSTS
PRODUCTION COSTS	18. PRODUCTION COSTS Raw materials and consumables $ 51,826 $ 58,046 Salaries and employee benefits 16,321 17,403 Contractors 55,315 58,952 Repairs and maintenance 1,171 801 Site administration 3,962 3,815 Royalties 5,918 7,572 Mining duties 160 168 Share-based compensation 336 358 135,009 147,115 Less: Change in inventories 1,624 10,022 Total production costs $ 136,633 $ 157,137 The Company’s operations in Mexico were suspended during April and May 2020 due to government orders due to the COVID-19 pandemic, which affected the country's entire mining industry. During the shutdown, the Company incurred unabsorbed fixed costs of $1.5 million for these operations included in the total production costs, which otherwise would have been recorded to inventory but were expensed as incurred. The Company also voluntarily suspended production at Topia for a five-week period in the fourth quarter of 2020 to mitigate the spread of COVID-19 in the local community. The Company also expensed fixed costs during this period of suspension.

GENERAL AND ADMINISTRATIVE EXPE

GENERAL AND ADMINISTRATIVE EXPENSES	12 Months Ended
	Dec. 31, 2020
GENERAL AND ADMINISTRATIVE EXPENSES
GENERAL AND ADMINISTRATIVE EXPENSES	19. GENERAL AND ADMINISTRATIVE EXPENSES Salaries and employee benefits $ 4,042 $ 5,617 Professional fees 1,674 1,707 Office and other expenses 4,758 8,397 Amortization 446 514 Share-based compensation 2,006 1,322 Total general and administrative expenses $ 12,926 $ 17,557

EXPLORATION AND EVALUATION EXPE

EXPLORATION AND EVALUATION EXPENSES	12 Months Ended
	Dec. 31, 2020
EXPLORATION AND EVALUATION EXPENSES
EXPLORATION AND EVALUATION EXPENSES	20. Salaries and employee benefits $ 2,223 $ 2,878 Raw materials and consumables 892 1,237 Professional fees 4,411 5,978 Office and other expenses 2,724 2,648 Share-based compensation 120 46 Total exploration and evaluation expenses $ 10,370 $ 12,787

IMPAIRMENT OF GOODWILL

IMPAIRMENT OF GOODWILL	12 Months Ended
	Dec. 31, 2020
IMPAIRMENT OF GOODWILL
IMPAIRMENT OF GOODWILL	21. IMPAIRMENT OF GOODWILL During the year ended December 31, 2019, the Company recorded an impairment of goodwill of $38.7 million that arose on the Acquisition.

OTHER INCOME (EXPENSE)

OTHER INCOME (EXPENSE)	12 Months Ended
	Dec. 31, 2020
OTHER INCOME (EXPENSE)
OTHER INCOME (EXPENSE)	22. OTHER INCOME (EXPENSE) Accretion expense $ (2,629) $ (3,404) Gain (loss) on derivative instruments (27,980) 2,353 Foreign exchange loss (16,397) (3,852) Other expense (2,188) (3,211) $ (49,194) $ (8,114)

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
INCOME TAXES
INCOME TAXES	23. INCOME TAXES (a) Income tax expense Current expense: Income tax $ 3,647 $ 135 Withholding tax — 427 3,647 562 Deferred tax expense (recovery): Income tax 144 78 Withholding tax — 104 144 182 Income tax expense $ 3,791 $ 744 The reconciliation of income taxes calculated at the Canadian statutory tax rate to the income tax expense shown in these consolidated financial statements is as follows: Net income (loss) before tax $ 4,125 $ (90,278) Canadian statutory income tax rate 27 % 27 % Anticipated income tax at statutory rate $ 1,115 $ (24,181) Permanent differences (2,084) 11,750 Differences between Canadian and foreign tax rates 3,144 (3,035) Change in estimate 1,668 53 Impact of foreign exchange on local currencies 2,739 3,087 Change in deferred tax assets not recognized (2,451) 13,425 Other items (340) (355) Income tax expense $ 3,791 $ 744 Effective tax rate 92 % (1) % (b) Deferred income tax assets and liabilities The significant components of deferred tax assets and liabilities are: December 31, December 31, Deferred income tax assets $ — $ 49 Deferred special mining duty asset (liabilities) — 96 Total deferred income tax assets — 145 Deferred income tax liabilities (2,488) (3,208) Deferred withholding tax liabilities (2,194) (2,157) Total deferred income tax liabilities (4,682) (5,365) Net deferred income tax assets (liabilities) $ (4,682) $ (5,220) (c) The following temporary differences and tax losses give rise to deferred income tax assets and liabilities: December 31, December 31, Tax losses carried forward $ 18,968 $ 19,394 Withholding tax liability (2,194) (2,157) Mineral properties, plant and equipment (20,298) (24,557) Other taxable temporary differences (1,158) (220) Other deductible temporary differences — 2,320 Net deferred income tax liabilities $ (4,682) $ (5,220) Losses expire as follows: 2020 2019 Type of losses Country Expiry dates Amount Expiry dates Amount Non-capital losses Canada 2026 to 2040 $ 29,730 2026 to 2039 $ 2,843 Mexico 2023 to 2030 $ 24,870 2020 to 2028 $ 21,560 Brazil indefinite $ 79,382 indefinite $ 102,357 Peru indefinite $ 73,491 indefinite $ 74,965 Capital losses Canada indefinite $ — indefinite $ 1,171 (d) Unrecognized deferred tax assets: The Company recognizes tax benefits on losses or other deductible amounts where it is probable the deferred tax assets will be realized. The Company’s unrecognized deductible temporary differences and unused tax losses for which no deferred tax assets are recognized consist of the following amounts: December 31, December 31, Tax losses carried forward $ 217,342 $ 130,131 Mineral properties, plant and equipment 45,429 90,647 Other deductible temporary differences 105,725 143,553 Unrecognized temporary differences $ 368,496 $ 364,331

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2020
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	24. FAIR VALUE MEASUREMENTS Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current market conditions (an exit price) regardless of whether that price is directly observable or estimated using another valuation technique. The fair value hierarchy establishes three levels to classify the inputs to valuation techniques used to measure fair value. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices in markets that are not active, quoted prices for similar assets or liabilities in active markets, inputs other than quoted prices that are observable for the asset or liability (interest rate, yield curves), or inputs that are derived principally from or corroborated observable market data or other means. Level 3 inputs are unobservable (supported by little or no market activity). The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. The following describes the methods and assumptions used to estimate the fair value of Level 2 financial instruments. Financial asset or Methods and assumptions used to estimate fair value Trade receivables Trade receivables arising from the sales of metal concentrates are subject to provisional pricing, and the final selling price is adjusted at the end of the quotation period. The Company marks these to market at each reporting date based on a quoted forward price. The Company’s trade receivables are valued using quoted market prices on the London Metal Exchange. Derivative instruments The Company's derivative assets and derivative liabilities are comprised of forward foreign exchange contracts and put options for gold. The fair value of the Company's forward exchange contracts and put options for gold are determined using forward exchange rates and forward gold prices, respectively, at each reporting date. Borrowings The Company’s borrowings are comprised of long-term loans, convertible debentures and debt facilities. Borrowings are initially recognized at fair value, net of transaction costs incurred. Subsequent to initial measurement, borrowings are recorded at amortized cost using the effective interest rate method. During the years ended December 31, 2020 and 2019, there were no transfers of amounts between Level 1, Level 2, and Level 3 of the fair value hierarchy. The following tables show the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. Fair value information for financial assets and financial liabilities not measured at fair value is not presented if the carrying amount is a reasonable approximation of fair value. The Company’s financial instruments include cash and cash equivalents, marketable securities, trade receivables, restricted cash, trade payables, borrowings and derivative instruments. The carrying values of the Company’s financial instruments approximate their fair values due to the short-term nature of the items or the inclusion of interest rates that approximate market rates. In evaluating fair value information, considerable judgment is required to interpret the market data used to develop the estimates. The use of different market assumptions and valuation techniques may have a material effect on the estimated fair value amounts. The following table summarizes the Company’s financial instruments as at December 31, 2020: Fair value Fair value through through Amortized Fair value OCI P&L cost Total hierarchy Financial Assets Cash and cash equivalents $ — $ — $ 63,396 $ 63,396 n/a Marketable securities 1 — — 1 Level 1 Trade receivables — — 2,011 2,011 Level 2 Restricted cash — — 1,055 1,055 n/a Financial Liabilities Trade payables and accrued liabilities $ — $ — $ 42,428 $ 42,428 n/a Derivative liabilities — 2,974 — 2,974 Level 2 Borrowings — — 33,398 33,398 Level 2

CAPITAL MANAGEMENT

CAPITAL MANAGEMENT	12 Months Ended
	Dec. 31, 2020
CAPITAL MANAGEMENT
CAPITAL MANAGEMENT	25. CAPITAL MANAGEMENT The Company’s objectives when managing capital are to: · ensure there are adequate capital resources to support the Company’s ability to continue as a going concern; · maintain adequate levels of cash to support the acquisition, exploration and development of mineral properties, exploration and evaluation assets, and the operation of producing mines; · maintain investor, creditor and market confidence to sustain future development of the business; and · provide returns to shareholders and benefits for other stakeholders. In assessing the capital structure of the Company, management includes in its assessment the components of shareholders’ equity and debt, net of cash and cash equivalents and short-term deposits. Tucano, Topia and the GMC are in production, but exploration and development activities are also performed at these and other exploration properties in order to identify further reserves and resources. Additionally, for Coricancha, which has been on care and maintenance since August 2013, the Company continues to evaluate the timeline and conditions for a potential re-start. The Company plans to use existing cash, including cash raised from equity and debt financing during the year ended December 31, 2020, as well as funds from future sales of precious metals to fund operations, development and exploration activities, and capital expenditures. The Company manages its capital in a manner that provides sufficient funding for operational activities. Annual capital and operating expenditure budgets, and rolling forecasts, are used to determine the necessary capital requirements. These budgets are approved by management and the Board and updated for changes in the underlying assumptions, economic conditions and risk characteristics of the underlying assets, as necessary. Since the Acquisition, based on current projected operating cash flows and anticipated capital expenditures, the Company obtained equity and debt financing as described in notes 13 and 16(f). The Company will continue to focus on internally generating operating cash flow to minimize its future reliance on equity and debt financing. However, the Company may determine that it requires further financing through the offering of its share capital via the ATM Facility, and/or other equity and debt financing in order to meet long-term objectives. The Company’s capital structure is dependent on expected business growth and changes in the business environment. As at December 31, 2020, the Company was not subject to externally imposed capital requirements.

FINANCIAL RISK MANAGEMENT

FINANCIAL RISK MANAGEMENT	12 Months Ended
	Dec. 31, 2020
FINANCIAL RISK MANAGEMENT
FINANCIAL RISK MANAGEMENT	26. FINANCIAL RISK MANAGEMENT The Board has overall responsibility for the establishment and oversight of the Company’s risk management framework and reviews the Company’s policies on an ongoing basis. The Company is exposed to certain financial risks, including credit risk, liquidity risk, and market risks such as currency risk, interest rate risk, and commodity price risk. (a) Credit risk Credit risk is the risk of an unexpected loss if a customer or third party to a financial instrument fails to meet its contractual obligations. The Company’s exposures to credit risk arise from cash and short-term investments, trade accounts receivable, and loan receivable. Lesser exposures arise from holdings of marketable securities, and other receivables. The risk is assessed by performing an aging analysis of trade receivables, and through the review of credit ratings of the counterparties with which the Company does business. The Company manages such credit risks by diversifying bank deposits and placing funds only in large Canadian, Brazilian and Mexican financial institutions. The Company’s investments are subject to internal investment guidelines, and they mature at various dates but rarely in excess of one year. All of the Company’s precious metal sales are to large international metals trading companies and smelters that have been in business for many years. For the sale of metal concentrates, the Company typically receives provisional payments, within days after delivery, of up to 95% of the value of each shipment. For the sale of refined gold, the Company typically receives payment in full on the day of delivery. Historically, the Company has not had difficulty collecting receivables from its customers, nor have customers defaulted on any payments. There is no trade receivable related to the refined gold sales as at December 31, 2020. The aging of trade receivables from metal concentrate sales is as follows: December 31, December 31, 0 to 30 days $ 1,343 $ 4,121 31 to 60 days 400 389 61 to 90 days 142 150 over 90 days 126 (55) $ 2,011 $ 4,605 There has been no notable change in the Company’s approach to credit risk management since the prior year. (b) Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company's exposure to liquidity risk arises from its trade and other payables. The Company regularly prepares rolling cash flows to identify and assess such liquidity risks. The Company manages liquidity risk by preparing annual budgets for approval by the Board and preparing cash flow and liquidity forecasts on a quarterly basis. There has been no notable change in the Company's approach to credit risk management since the prior year. (c) Currency risk Currency risk is the risk that foreign exchange rates will fluctuate significantly from expectations. The Company's exposure to currency risk arises from its operations in Canada, Brazil, Mexico and Peru, where payments to vendors and employees are often in local currency; yet, substantially all of the Company's revenues are realized in USD. Further, the Company holds a portion of its cash in currencies other than USD. To manage this risk, the Company holds as small of an amount as practical in foreign currencies. To mitigate the Company’s exposure to changes in the exchange rates of BRL and MXN against USD, the Company may and has entered into forward currency contracts as it deems prudent. There are limits on the extent of such contracts, in excess of which Board approval is required. For financial instruments denominated in foreign currencies as at December 31, 2020, a 10% change in the prevailing exchange rates as at December 31, 2020, with all other variables held constant, would have the following impact on the Company’s earnings: Canadian Australian Peruvian dollars Brazilian dollars Mexican soles Change in net income arising from: ("CAD") real ("AUD") pesos ("PEN") 10% appreciation of the USD against the currency $ 68 $ 1,255 $ (78) $ (150) $ 287 10% depreciation of the USD against the currency $ (80) $ (1,222) $ 78 $ 157 $ (287) The closing exchange rates for December 31, 2020, of BRL/USD of 5.197 (2019: 4.031), MXN/USD of 19.935 (2019: 18.876), AUD/USD of 1.2981 (2019: 1.423), PEN/USD of 3.621 (2019: 3.319), and CAD/USD of 1.277 (2019: 1.299) were used in the above analysis. (d) Interest rate risk Interest rate risk is the possibility that change in market interest rates will affect future cash flows. The Company is exposed to interest rate risk on its cash and cash equivalents, short-term deposits and borrowings. The Company’s approach is to invest cash in savings accounts and guaranteed investment certificates at fixed and floating rates of interest over varying maturities. The Company manages this risk by monitoring changes in interest rates and by maintaining a relatively short duration for the Company's portfolio of cash equivalent securities. Many of these instruments can be immediately redeemed and those of a fixed-term do not exceed one year. The Company is exposed to interest rate risk on its variable interest rate borrowings, specifically the MACA loan (note 13(a)). Additionally, the unsecured bank facilities (note 13(b)) are expected to roll over as they become due and are therefore subject to interest rate changes. There has been no notable change in the Company’s approach to interest rate risk management since the prior year. For interest-bearing financial instruments as at December 31, 2020, an increase or decrease in interest rate of 1% applied would increase or decrease net income and comprehensive income by $0.1 million. (e) Commodity price risk The Company is subject to risk from fluctuations in the market prices of gold, silver, lead and zinc. Such fluctuations directly affect the Company’s reported revenues. The profitability of the Company’s operations is highly correlated to the market prices of these metals, as is the ability of the Company to develop its mineral properties and exploration and evaluation assets. The value of trade receivables at the reporting date also depends on changes in metal prices until finalization of sales prices per the contractual quotational period. If metal prices decline for a prolonged period below the cost of production of the Company’s mines, it may not be economically feasible to continue production. The Company has a stated policy that it will not engage in long-term hedging of gold and silver prices. There was no notable change in the Company’s approach to commodity price risk management from the prior year until December 31, 2020. For provisionally priced trade receivables, a 10% change in the prevailing commodity prices as at December 31, 2020, with all other variables held constant, would have the following impact on the Company’s earnings: 10% change 10% change 10% change 10% change in gold in silver in lead in zinc Change in net income $ 549 $ 991 $ 69 $ 153

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	27. COMMITMENTS AND CONTINGENCIES (a) Commitments As at December 31, 2020, the Company had the following commitments: Total 1 year 2-3 years 4-5 years Thereafter Operating lease payments $ 32 $ 32 $ — $ — $ — Drilling services 710 710 — — — Equipment purchases 1,420 1,420 — — — Total commitments $ 2,162 $ 2,162 $ — $ — $ — On June 29, 2020, the Company announced it had reached an agreement with Nyrstar International B.V. and Nyrstar Netherlands (Holdings) B.V. (together, "Nyrstar") and NN2 Newco Limited, the parent of the Nyrstar entities, to amend certain agreements (the "Amending Agreements") in respect of the Company's remediation obligations in connection with Great Panther's 2017 acquisition of Coricancha from Nyrstar. The Amending Agreements include amendments to the Share Purchase Agreement under which the Company purchased Coricancha from Nyrstar and the related agreement for Coricancha under which Nyrstar agreed to fund a portion of the bond to secure remediation costs for Coricancha in the future in respect of a permanent closure of the mine. Under the Amending Agreements, Nyrstar has agreed to extend its requirement to post remediation bond obligations as security for closure costs at Coricancha beyond the original June 30, 2020 expiry date. The Amending Agreements provide that Nyrstar will maintain a $7.0 million bond until June 30, 2021 and $6.5 million for the following year, effectively deferring Great Panther's funding requirements for these amounts until June 30, 2022, unless Great Panther makes a decision to permanently close Coricancha. Great Panther has provided 80% collateral in the form of a deposit to cover its additional $2.7 million bond requirement as of June 30, 2020. In June 2017, the bond closure amount required by the Ministerio de Energía y Minas de Perú (the "MEM") was increased by $1.2 million, which Great Panther funded. The total bond amount required by the MEM was $10.9 million as of December 31, 2020. (b) Contingencies i) GMC Tailings storage In February 2016, the Mexican national water authority, Comisión Nacional del Agua (“CONAGUA”), required that the Company make formal applications for permits associated with the occupation and construction of the tailings storage facility (“TSF”) at the GMC. The Company filed its applications, and the authorities conducted an inspection of the TSF and requested further technical information, which the Company submitted in December 2017. In July 2017, the Company submitted to the Mexican environmental permitting authority, Secretaría del Medio Ambiente y Recursos Naturales (“SEMARNAT”), an amendment to the Environmental Impact Statement (“EIS”) requesting an expansion of the existing TSF (Lifts 18 and 19). This was accepted by SEMARNAT subject to approval by CONAGUA and, in February 2019, CONAGUA requested additional technical information. The Company has been working with permitting authorities to expand the capacity of the GMC’s existing TSF. In parallel, the Company has completed its review to identify technical alternatives to extend its tailings storage capacity utilizing existing permits and has begun modifying the tailings discharge using cyclones to extend the tailings capacity until June 30, 2021. This will allow more time for receipt of the pending expansion approval; however, if the expansion approval of the TSF has not been received prior to June 30, 2021 or is conditioned, the Company may need to cease milling operations at the GMC until receipt of the CONAGUA expansion approval or the satisfaction of such conditions. Additional water use permits Since the February 2016 correspondence with CONAGUA, the Company has also determined through its own undertakings that additional CONAGUA permits may be needed in connection with water discharge and water use at the GMC’s TSF. The Company is assessing technical options and is confirming if additional water use permits are required. The Company believes that it will be able to address or mitigate the need for any necessary water discharge and use permits without any impact to its operations but cannot provide complete assurance that there is no risk in this regard. In the fourth quarter of 2019, the Company received the authorization to discharge wastewater from San Ignacio. (ii) Topia Topia was accepted into a voluntary environmental audit program supported by the Mexican environmental compliance authority, the Procuraduría Federal de Protección al Ambiente (“PROFEPA”). Devised as a cooperative management strategy, the audit commenced in 2017. The Company completed remediating the important environmental legacy issues, but has not reached full compliance with the audit within the time-frame proposed. The Company anticipates that it will be able to achieve full compliance; however, the Company cannot provide complete assurance that upon completion of the compliance program, further reviews will not lead to future suspensions of operations. On March 9, 2020, the Company disclosed it ceased depositing tailings on the Topia Phase II TSF following a recommendation from the Company's independent tailings management and geotechnical consultants. This was due to an increase in the rate of movement in material below the TSF that was assumed to be related to increase in groundwater pressures. During the suspension of non-essential activities due to COVID-19, Great Panther continued monitoring the conditions on Phase I and Phase II and installed additional geotechnical instrumentation. In addition, tests were carried out to determine the state of the tailings in Phase I and extensive work was carried out to identify the source and reduce the flow of water into the base of the TSF. Consequently, Phase II was restarted on the basis of positive results of monitoring and a stacking plan for Phase II received from a third-party consultant with strict control on sequence and compaction level. The Company has also received the required permit for Phase III, which is expected to be available for use after constructing retaining walls and erosion controls around the base of the facility. There is no assurance that any remediation plan for Phase I or that the stacking plan for Phase II will be successful in preventing further movement of the tailings. Any movement of the material underlying the TSF could result in significant environmental damage, potential loss of life and property and consequential liability to the Company. (iii) Coricancha Coricancha has been on care and maintenance since August 2013 and is subject to oversight by the Organismo de Evaluación y Fiscalización Ambiental ("OEFA"), the Peruvian public agency responsible for environmental assessment and inspection, and by the Organismo Supervisor de la Inversión en Energía y Minería ("OSINERGMIN"), which is the Peruvian regulatory body with oversight responsibility over energy and mining companies. Fines and sanctions Nyrstar has agreed to reimburse the Company for all fines or sanctions that resulted from activities or ownership of Coricancha prior to June 30, 2017, up to a maximum of $4.0 million. Accordingly, a reimbursement right in the amount of $1.5 million has been recorded in respect of the following fines or sanctions: · $1.3 million for fines and sanctions which may be levied by OSINERGMIN. Also, there are open administrative and judicial proceedings by OSINERGMIN, the outcomes of which are not yet readily determinable. · $0.2 million for fines and sanctions to be levied by OEFA. In addition, there are open administrative and judicial proceedings by OEFA, the outcomes of which are not yet readily determinable. The Company has accrued for and recorded a further reimbursement right of $0.4 million for certain civil lawsuits filed by individuals and former suppliers. Legacy tailings facilities The Company has undertaken the reclamation of certain legacy tailings facilities at Coricancha under a remediation plan approved by the MEM, the relevant regulatory body. In addition, as part of the purchase of Coricancha, the Company has an agreement with Nyrstar for the reimbursement of the cost of these reclamation activities. The Company is seeking approval of a modification to a remediation plan from the MEM in accordance with the recommendations of an independent consultant to preserve the stability of nearby areas. The Company has changed the scheduling of the reclamation work, pending a decision from the MEM regarding the proposal to modify the approved remediation plan. To protect itself from any pending or future fines, penalties, regulatory action or charges from government authorities and to request the MEM issue a decision of the proposed modification to the remediation plan for legacy tailings, the Company initiated a Constitutional Case and was successfully awarded an injunction to prevent fines and penalties until MEM issues its decision. The Company was notified of a second instance decision in the Constitutional Case to dismiss the Constitutional Case. The Company has the opportunity to appeal this decision and is considering the merits of an appeal. The Company expects that the related injunction will be cancelled in the near future. While it is possible to appeal the Constitutional Case proceeding, it will not be possible to appeal the cancellation of the injunction. The cancellation of the injunction will expose the Company to potential fines, penalties, regulatory action or charges from government authorities. The decision requests that the MEM issue a technical report evaluating the proposed modifications to the remediation plan within two months of the decision. Separately, the Company plans to develop alternatives to propose to MEM to allow for the full reclamation while preserving the stability of the surrounding areas. Although the Company has all necessary permits to restart Coricancha, if this matter is not resolved favourably, it may impact the Company’s stated plans and objectives for Coricancha. (iv) Tucano Various claims related to Brazil indirect taxes and labour matters As a result of the Acquisition, the Company has various litigation claims for a number of governmental assessments pertaining to indirect taxes, and labour disputes associated with former employees and contract labour in Brazil. The indirect tax matter principally relates to claims for the state sales tax, Imposto Sobre Operações Relativas à Circulação de Mercadorias e Serviços de Transporte Interestadual de Intermunicipal e de Comunicações (“ICMS”), which are mostly related to rate differences. For these claims, the possibility of loss was not considered probable by the Company’s Brazilian attorneys, and no provision has been recognized. The labour matters principally relate to claims made by former employees and contract labour for the equivalent payment of all social security and other related labour benefits, as well as consequential tax claims, as if they were regular employees. As of December 31, 2020, the items for which a loss was probable related to the labour disputes, inclusive of any related interest, amounted to approximately $1.6 million, for which a provision was recognized. In connection with the above proceedings, a total of $0.3 million (December 31, 2019 - $0.4 million) of escrow cash deposits were made as of December 31, 2020 (note 6). Generally, any escrowed amounts would be refundable to the extent the matters are resolved in the Company’s favour. Environmental damages - William Creek In May 2009, the State of Amapá Public Prosecutor (“MPAP”) filed a public civil action seeking payment for environmental damages caused to William Creek, as well as to other creeks located in the region of influence of Zamin Amapá Mineração (“Zamin”) and Tucano mines. The alleged damage is related to the modification of the creek’s riverbed, soiling and sedimentation. In January 2018, the Amapá State Court ordered Tucano to pay a fine of approximately $1.1 million (BRL 6.0 million plus interest and inflation counted as from the date of the damage) to the State Environmental Fund. As at December 31, 2020, the updated value with interest and inflation is approximately $5.7 million (BRL 29.7 million). The Company is in the process of appealing, and the likelihood of total loss is not considered probable based on legal advice received. However, the best estimate of the loss is less than the full amount claimed, and the Company has accrued the best estimate of the cost to settle the claim. Archaeological sites damage In May 2016 and June 2016, the Brazilian Federal Public Prosecutor (“MPF”) filed public civil actions seeking compensation to be paid by Zamin, the State of Amapá and Tucano for damages to 34 archaeological sites as a result of activities in 2006-2009 at the Amapá-MMX Iron Ore Project currently owned by Zamin and as a result of activities in 2004-2010 at the Amapari Project and for the State of Amapá failing to take proper action during the environmental licensing procedures (the “Archaeological Civil Actions”). During the three months ended December 31, 2020, the 6th Lower Court in the Judiciary Section of the State of Amapá ratified a settlement agreement between Tucano and the MPF in respect of the Archeological Civil Actions (the “Settlement Agreement”). Under the terms of the Settlement Agreement, as full and final settlement of the Archaeological Civil Actions, Tucano agreed to earmark BRL 8.0 million, no later than December 31, 2021, for implementation of socio-environmental measures for the benefit of the State of Amapá community, including a combination of community food donations in the first three months following ratification and those socio-environmental measures defined by mutual agreement of Tucano and MPF for the benefit of the communities in the Municipalities of Pedra Branca do Amapari and Serra do Navio funded in the second half of 2021. The Instituto do Patrimônio Histórico e Artístico Nacional - Historic and Artistic National Heritage Institute (“IPHAN”) have sought clarification of the settlement agreement requesting certain of the settlement funds be designated specifically to IPHAN. In related proceedings, Tucano is in the process of appealing fines and damages arising in the Federal Court of Appeal. The likelihood of total loss is not considered probable based on legal advice received. However, the best estimate of the loss is less than the full amount claimed and the Company has accrued the best estimate of costs to settle the claim. Cyanide usage In October 2018, the public prosecutor’s office of labour affairs for the State of Amapá filed a public civil action seeking payment for potential damages and medical costs in relation to the Company’s employees’ exposure to cyanide used in the processing of its gold. In August 2019, a regional labour court ordered Tucano to pay compensation of approximately BRL 4.0 million plus interest and inflation for these damages, in addition to surveillance and funding medical costs of any diseases to Tucano’s internal and outsourced employees and former employees, and to stop using cyanide in its production process within one year from the final non-appealable decision on the proceedings. Tucano is in the process of appealing to a Federal Superior Labour Court all aspects of the regional labour court decision. In March 2020, it was accepted that the appeal, exclusively with respect to whether or not the use of cyanide may continue, be admitted for consideration by the Federal Superior Labour Court and the balance of the decision has not yet been accepted for consideration and is under appeal. Tucano is not aware of any circumstances of former or current employees who have suffered health consequences from exposure to cyanide at the Company’s operations. In addition, the Company notes that the use of cyanide in the processing of gold is common in the industry within Brazil and is not prohibited by any federal law in Brazil and that the Company complies with proper safety standards in the use and handling of cyanide in its operations. The Company believes the claims are without merit and that it is too early in the process to be able to determine the outcome. As the matter progresses, the Company will review its assessment.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2020
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	28. RELATED PARTY TRANSACTIONS Key management personnel include the Company’s Directors, President and Chief Executive Officer, Chief Operating Officer, Chief Financial Officer, and vice presidents. Amounts owing to key management personnel are included in trade and other payables. The Company is committed to making severance payments amounting to approximately $3.4 million to certain officers and management in the event of a change in control of the Company. Compensation to key management personnel consisted of the following: Salaries and benefits $ 3,059 $ 1,674 Contract completion bonus - interim CEO 171 — Directors’ fees 531 478 Termination benefits — 658 Share-based compensation 1,935 1,227 $ 5,696 $ 4,037 Directors fees during the year ended December 31, 2020 include $nil for special committee fees (2019 – $0.1 million).

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	12 Months Ended
	Dec. 31, 2020
SUPPLEMENTAL CASH FLOW INFORMATION
SUPPLEMENTAL CASH FLOW INFORMATION	29. SUPPLEMENTAL CASH FLOW INFORMATION (a) Other non-cash items Accretion $ 2,629 $ 3,404 Finance expense 3,981 5,752 Finance income (347) (726) Loss on disposal of fixed assets 1 32 $ 6,264 $ 8,462 (b) Non-cash investing and financing activities Change in reclamation and remediation provision included within mineral properties, plant and equipment and exploration and evaluation assets $ 13,943 $ 3,330 Change in lease liability related to right-of-use assets 890 4,498 Shares issued upon settlement of obligation 39 — Repayment of MACA borrowings by way of issuance of shares — 10,524

OPERATING SEGMENTS

OPERATING SEGMENTS	12 Months Ended
	Dec. 31, 2020
OPERATING SEGMENTS
OPERATING SEGMENTS	30. OPERATING SEGMENTS The Company’s operations are all within the mining sector, consisting of three operating segments, two of which are located in Mexico, one of which is located in Brazil, plus one segment associated with Coricancha in Peru, one Exploration segment and one Corporate segment. Due to diversities in geography and production processes, the Company operates Tucano, the GMC, and Topia mines separately, with separate budgeting and evaluation of results of operations and exploration activities. The Coricancha segment contains the net assets associated with Coricancha, and the cost of its exploration, evaluation and development activities are separately budgeted and reported. The Corporate segment provides financial, human resources and technical support to the three mining operations and Coricancha. The GMC operation produces silver and gold in concentrate, and the Topia operation produces silver, gold, lead and zinc in concentrate for refining off-site. The Tucano operation produces gold doré. The Exploration segment includes the Company’s mineral exploration and evaluation assets at Santa Rosa, El Horcón, Plomo and Argosy. Operations Tucano GMC Topia Coricancha Exploration Corporate Total 2020 External revenue $ — $ 21,219 $ 15,896 $ — $ — $ 223,690 $ 260,805 Intersegment revenue 210,623 — — — — (210,623) — Amortization and depletion 35,986 1,564 2,745 198 — 258 40,751 Exploration and evaluation expenses 669 2,540 341 5,982 187 651 10,370 Non-cash change in reclamation and remediation provision — 41 — — — — 41 Care and maintenance costs — 693 — — — — 693 Finance income 121 — — — — 226 347 Finance expense 2,597 — — 188 — 1,196 3,981 Net income (loss) before income taxes 46,549 (2,621) (734) (6,503) (667) (31,899) 4,125 Income tax expense (recovery) 3,751 26 14 — — — 3,791 Net income (loss) 42,798 (2,647) (748) (6,503) (667) (31,899) 334 Additions to non-current assets 42,109 4 3,794 10,831 — 43 56,781 As at December 31, 2020 Total assets $ 167,524 $ 4,597 $ 14,456 $ 44,705 $ 2,126 $ 47,012 $ 280,420 Total liabilities $ 87,304 $ 16,535 $ 2,244 $ 43,333 $ 500 $ 18,801 $ 168,717 Operations Tucano GMC Topia Coricancha Exploration Corporate Total 2019 External revenue $ 99,572 $ 23,543 $ 21,713 $ — $ — $ 53,825 $ 198,653 Intersegment revenue 49,818 — — — — (49,818) — Amortization and depletion 30,816 1,436 2,431 253 4 245 35,185 Exploration and evaluation expenses 608 2,550 889 8,557 176 7 12,787 Non-cash change in reclamation and remediation provision — 6,829 2,923 — — — 9,752 Care and maintenance costs — 795 — — — — 795 Impairment of goodwill 38,682 — — — — — 38,682 Interest income 14 — — 4 — 708 726 Finance costs 5,741 — — 2 — 9 5,752 Loss before income taxes (66,473) (7,436) (2,796) (9,524) (264) (3,785) (90,278) Income tax expense — 122 91 – — 531 744 Net loss (66,473) (7,558) (2,887) (9,524) (264) (4,316) (91,022) Additions to non-current assets 28,593 317 3,963 1,195 — 821 34,889 As at December 31, 2019 Total assets $ 177,683 $ 7,060 $ 15,304 $ 28,414 $ 2,159 $ 40,122 $ 270,742 Total liabilities $ 107,354 $ 15,772 $ 2,445 $ 29,556 $ — $ 15,116 $ 170,243

SEASONALITY OF OPERATIONS

SEASONALITY OF OPERATIONS	12 Months Ended
	Dec. 31, 2020
SEASONALITY OF OPERATIONS
SEASONALITY OF OPERATIONS	31. SEASONALITY OF OPERATIONS The Company’s Tucano operation is subject to seasonal fluctuations as a result of weather conditions. Specifically, Tucano’s production is stronger in the second half of a calendar year as the dry season enables higher rates of mining productivity and the mine plan is characterized by lower strip ratios and access to higher grades in the open pits. Accordingly, Tucano typically has more favourable operating results in the second half of the year.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
SIGNIFICANT ACCOUNTING POLICIES
Basis of consolidation	(a) Basis of consolidation These consolidated financial statements include the accounts of the Company. All material intercompany transactions, balances, revenues, and expenses have been eliminated upon consolidation. Subsidiaries are included in the consolidated financial results of the Company from the effective date of acquisition or control and up to the effective date of disposition or loss of control. Control is achieved when the Company has power over the investee, is exposed to or has rights to variable returns from its involvement with an investee, and has the ability to affect those returns through its power over the investee. Great Panther Mining Limited is the ultimate parent entity of the group. At December 31, 2020, the principal subsidiaries of the Company, their geographic locations, and the ownership interests held by the Company, were as follows: Name Location Ownership Principal Activity Mina Tucano Ltda (formerly Beadell Brasil Ltda) Brazil 100% Mining company Mineral Mexicana el Rosario S.A. de C.V. Mexico 100% Mining company Great Panther Coricancha S.A. Peru 100% Exploration company
Basis of measurement	(b) Basis of measurement These consolidated financial statements have been prepared on the historical cost basis except for financial assets and liabilities that are measured at fair values at each reporting date.
Foreign currency translation	(c) Foreign currency translation These consolidated financial statements are presented in US dollars ("USD") which is the Canadian parent company’s presentation currency and functional currency. The functional currency of the Company’s principal subsidiary in Mexico is the USD. The functional currency of the Company’s Brazilian subsidiaries is the Brazilian real (“BRL”). i) Transactions and balances Foreign currency transactions are translated into the relevant functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in net income. ii) Translation of subsidiary results into the presentation currency The operating results and statements of financial position of the Company’s subsidiaries which have a functional currency that differs from the Company’s presentation currency are translated into the presentation currency as follows: · Assets and liabilities for each statement of financial position presented are translated at the closing rate at the date of the statement of financial position; · Income and expenses for each statement of comprehensive income are translated at average exchange rates, unless the average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions; and · All resulting exchange differences are recognized as a separate component of equity. On consolidation, exchange differences arising from the translation of the net investment in foreign entities are recognized in a separate component of equity, foreign currency translation reserve. When a foreign operation is sold, such exchange differences are recognized in net income as part of the gain or loss on the sale.
Cash and cash equivalents	(d) Cash and cash equivalents Cash and cash equivalents include cash on hand, demand deposits, and money market instruments, with maturities from the date of acquisition of three months or less, which are readily convertible to known amounts of cash and are subject to insignificant changes in value. Transaction costs are expensed when incurred. Cash and cash equivalents are designated as financial assets at amortized cost.
Inventories	(e) Inventories Inventories consist of: · Gold bullion, gold in circuit, ore stockpiles, and concentrate inventories which are stated at the lower of weighted average cost and net realizable value. Costs include production costs and amortization and depletion directly attributable to the inventory production process. Net realizable value is the expected selling price for the finished product less the costs to put the product into saleable form and delivery to the selling location. · Materials and supplies inventory, which includes the cost of consumables used in operations are stated at the lower of weighted average cost and replacement cost which approximates net realizable value. Major spare parts and standby equipment are included in property, plant, and equipment when they are expected to be used over more than one period, if they can only be used in connection with an item of property, plant and equipment. · Silver bullion coins and bars are recorded at lower of cost and net realizable value.
Mineral properties, plant and equipment	(f) Mineral properties, plant and equipment i) Mineral properties Mine development costs are capitalized if management determines that there is sufficient evidence to support probability of generating positive economic returns in the future. Mineral Resources and Reserves are considered to have economic potential when the technical feasibility and commercial viability of extraction is demonstrable considering long-term metal prices. Therefore, prior to capitalizing such costs, management determines whether the following conditions have been met: there is a probable future benefit that will contribute to future cash inflows; the Company can obtain the benefit and control access to it; and the transaction or event giving rise to the benefit has already occurred. In the event that the Company does not have sufficient evidence to support the probability of generating positive economic returns in the future, mine development costs are expensed to profit or loss. Mine development costs include expenditures associated with accessing Mineral Resources and gaining further information regarding the ore body, whether by means of ramp development, drilling or sampling. Development costs at the GMC are currently expensed. Producing mineral properties acquired through business acquisitions are recognized at fair value on the acquisition date. Where applicable, the estimated cost of mine reclamation and remediation for the property is included in the cost of mineral properties. The Company defers certain related stripping costs during the production phase of its Tucano surface mine operation to future periods. Stripping costs that generate a benefit of improved access to future components of an ore body and meet the definition of an asset are recognized as stripping activity assets. Stripping activity assets are depreciated on a units of production basis over the useful life of the identifiable component of the ore body that becomes more accessible as a result of the stripping activity. Stripping activity assets form part of mineral properties, plant and equipment. ii) Plant and equipment Plant and equipment is originally recorded at cost at the time of construction, purchase, or acquisition, and is subsequently measured at cost less accumulated amortization and impairment. Cost includes all costs required to bring the plant and equipment into a condition and location where it is capable of operating according to its intended use. Costs incurred for major overhauls of existing equipment or infrastructure are capitalized as plant and equipment and are subject to amortization once they are commissioned. Costs associated with routine maintenance and repairs are charged to operations as incurred. iii) Amortization and depletion The Company's mineral properties in Mexico are depleted using the straight-line method over the estimated remaining life of the mine. The Company’s mineral properties at Tucano are depleted on a units of production basis over the economically recoverable reserves. Plant and equipment directly related to the Mexico mining operations is amortized using the straight-line method over the shorter of the estimated remaining life of the mine and the estimated remaining useful life of the asset. Plant and equipment directly related to the Tucano mining operations is amortized on a units of production basis over the economically recoverable reserves of the mine concerned, except in the case of assets whose useful life is shorter than the estimated remaining life of the mine, in which case the straight -line method over the remaining useful life of the asset is used. All other equipment, buildings and furniture and fixtures which do not relate directly to the mining operations are amortized on a straight-line basis over the remaining estimated useful life of the asset, except for land which is not amortized. When assets are retired or sold, the costs and related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is reflected in profit or loss.
Exploration and evaluation assets	(g) Exploration and evaluation assets i) Exploration properties Exploration properties represent properties for which the Company has not yet performed sufficient exploration work to determine whether significant mineralization exists. Exploration properties are carried at the cost of acquisition and included in exploration and evaluation assets. Exploration expenditures incurred on such properties are expensed as incurred as exploration expenditures in profit or loss. Examples of exploration expenditures that are expensed under this policy include topographical, geological, geochemical and geophysical studies; exploratory drilling; trenching; and sampling. The Company considers its Coricancha, Santa Rosa, El Horcón, Plomo and Argosy projects to be in this category as at December 31, 2020, and consequently, expenses all costs associated with these projects as they are incurred. ii) Evaluation properties Evaluation properties represent properties for which the Company has identified Mineral Resources or Reserves of such quantity and grade or quality that it has reasonable prospects for economic extraction. Mineral Resources and Reserves are considered to have reasonable prospects for economic extraction when the Company has sufficient information to determine that extraction is viable and feasible at expected long-term metal prices. Expenditures made in relation to evaluating the technical feasibility and commercial viability of extracting a Mineral Resource or Reserve are capitalized and included in exploration and evaluation assets. Evaluation expenditures include the costs of drilling, sampling and other costs related to defining and delineating the mineral deposit. When the technical feasibility and commercial viability of the extraction of Mineral Resources or Reserves associated with the Company’s evaluation properties are demonstrable and management has made a decision to proceed with development, the capitalized costs associated with evaluation assets are reclassified from exploration and evaluation assets to mineral properties. They are tested for impairment at that time. iii) Amortization and depletion Exploration and evaluation assets are not subject to depletion or amortization, but rather are tested for impairment when circumstances indicate that the carrying value may not be recoverable.
Leased assets	(h) Leased assets At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether: · The contract involves the use of an identified asset - this may be specified explicitly or implicitly, and should be physically distinct or represent substantially all of the capacity of a physically distinct asset. If the supplier has a substantive substitution right, then the asset is not identified; · The Company has the right to obtain substantially all the economic benefits from use of the asset throughout the period of use; and · The Company has the right to direct the use of the asset. The Company has this right when it has the decision-making rights that are most relevant to changing how and for what purpose the asset is used. The Company recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured based on the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received. The right-of-use assets are subsequently depreciated to the earlier of the end of the useful life of the right-of-use asset or the lease term using the straight-line method as this most closely reflects the expected pattern of consumption of the future economic benefits. The right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability. The lease liability is initially measured at the present value of the lease payments not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company's incremental borrowing rate. Generally, the Company uses its incremental borrowing rate as the discount rate. The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Company's estimate of the amount expected to be payable under a residual value guarantee, or if the Company changes its assessment of whether it will exercise a purchase, extension or termination option. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. The Company has elected to apply the practical expedient not to recognize right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and leases of low-value assets. The lease payments associated with these leases are recognized as an expense on a straight-line basis over the lease term.
Impairment of non-financial assets	(i) Impairment of non-financial assets Exploration and evaluation assets are tested for impairment when circumstances indicate that the carrying value may not be recoverable. When facts and circumstances suggest that the carrying amount of an asset exceeds its recoverable amount, the Company performs an impairment test by comparing the recoverable amount to the carrying amount of the relevant exploration and evaluation property. When the carrying value exceeds the recoverable amount of the relevant exploration and evaluation property, an impairment charge is recorded and the property is written down to its recoverable amount. In addition, exploration and evaluation assets are tested for impairment at the date they are transferred to mineral properties, plant and equipment. The Company’s mineral properties, plant and equipment are reviewed for any indication of impairment at each financial reporting date or at any time if an indicator of impairment is considered to exist. If any such indicators exist, an estimate of the recoverable amount is undertaken, being the higher of an asset’s fair value less costs of disposal and the asset’s value in use. If the asset’s carrying amount exceeds its recoverable amount then an impairment loss is recognized in net income or loss for the period, and the carrying value of the asset on the statement of financial position is reduced to its recoverable amount. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm’s length transaction between knowledgeable and willing parties. Fair value of mineral properties is generally determined as the present value of the estimated future cash flows expected to arise from the continued use of the asset, including any expansion prospects, discounted by an appropriate pre-tax discount rate to arrive at a net present value. Value in use is determined as the present value of the estimated future cash flows expected to arise from the continued use of the asset in its present form and from its ultimate disposal. Value in use is determined by applying assumptions specific to the Company’s continued use which includes future development. As such, these assumptions may differ from those used in calculating fair value. In testing for indicators of impairment and performing impairment calculations, assets are grouped into cash-generating units, which are identified as the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets. The estimates of future discounted cash flows are subject to risks and uncertainties including estimated production, grades, recoveries, future metals prices, discount rates, exchange rates and operating costs. Non-financial assets other than goodwill that have suffered an impairment are evaluated for possible reversal of the impairment whenever events or changes in circumstances indicate that the impairment may have reversed. When a reversal of a previous impairment is recorded, the reversal amount is adjusted for depreciation that would have been recorded had the impairment not been recorded.
Share-based compensation	(j) Share-based compensation Equity-settled share-based compensation arrangements such as the Company’s stock option plan, restricted share unit plan, and deferred share unit plan are measured at fair value at the date of grant and recorded within equity. The restricted share unit plan includes restricted share units without performance-based criteria and performance share units, where the number of units that ultimately vest is dependent on the relative performance of the Company compared with a peer group of companies. The fair value at grant date of all share-based compensation is recognized as compensation expense over the vesting period, with a corresponding credit to shareholders’ equity. The amount recognized as an expense is adjusted to reflect share options forfeited. The Company estimates the fair value of share options granted using the Black-Scholes option pricing model. The Company estimates the fair value of equity settled performance share units (“PSU”) using a Monte Carlo valuation model at the date of grant.
Revenue recognition	(k) Revenue recognition The Company recognizes revenue from the sale of precious metals, consisting of metal concentrates and refined gold, when the customer obtains control. For the metal concentrates sales, the customer obtains control upon delivery at the customer’s designated warehouse. The amount of revenue recorded upon initial recognition is based on the forward metal prices at that time and the estimated metal content. The payment terms are based on the individual customer contracts. For provisional payments, terms are typically 15 days from the date of provisional invoice, and for final payments, terms are typically five business days after the final weights, assays and prices are known and invoiced. Adjustments related to changes in metal prices and metal content up to the final settlement are recorded in revenue. For the refined gold, the customer obtains control when the refined gold has been physically delivered, which is also the date when title has passed to the buyer and the Company has issued an invoice pursuant to a transaction confirmation that fixes the quantity and price of the gold for each delivery. The amount of revenue recorded upon delivery is based on this transaction confirmation. The Company has no significant continuing involvement after delivery and no adjustments to revenue are made subsequent to initial recognition.
Reclamation and remediation provisions	(l) Reclamation and remediation provisions The Company’s mining and exploration activities are subject to various laws and regulations governing the protection of the environment. The Company recognizes the cost of future reclamation and remediation as a liability when: the Company has a legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and, a reasonable estimate of the obligation can be made. The liability is measured initially by discounting expected costs to the net present value using pre-tax rates and risk assumptions specific to the liability. The resulting cost is capitalized to the carrying value of the related assets or expensed to profit or loss where there is no carrying value of the related assets, or where the cost is not recoverable. In subsequent periods, the liability is adjusted for accretion of the discount with the offsetting amount charged to the statement of comprehensive income as a finance cost. Any change in the amount or timing of the underlying cash flows is adjusted to the carrying value of the liability, with the offsetting amount recorded as an adjustment to the reclamation and remediation provision cost included in mineral properties or exploration, evaluation and development expenses. Any amount charged to the carrying value of assets is depreciated over the remaining life of the relevant assets. It is reasonably possible that the ultimate cost of remediation and reclamation could change in the future due to uncertainties associated with defining the nature and extent of environmental disturbance, the application of laws and regulations by regulatory authorities, changes in remediation technology and changes in discount rates. The Company reviews its reclamation and remediation provision at least annually and as evidence becomes available indicating that its expected reclamation and remediation costs may have changed. Any such changes in costs could materially impact the future amounts recorded as reclamation and remediation provision.
Financial instruments	(m) Financial instruments The Company’s financial instruments consist of cash and cash equivalents, short-term deposits, marketable securities, trade and other receivables, loan receivable, restricted cash, trade and other payables, as well as derivative instruments. i) Classification The Company determines the classification of its financial instruments at initial recognition. Upon initial recognition, a financial asset is classified as measured at: amortized cost, fair value through profit and loss (“FVTPL”), or fair value through other comprehensive income (loss) (“FVOCI”). The classification of financial assets is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. A financial liability is classified as measured at amortized cost or FVTPL. A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as FVTPL: · it is held within a business model whose objective is to hold assets to collect contractual cash flows; and · its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as FVTPL: · it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and · its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. An equity investment that is held for trading is measured at FVTPL. For other equity investments that are not held for trading, the Company may irrevocably elect to designate them as FVOCI. This election is made on an investment-by-investment basis. All financial assets not classified as measured at amortized cost or FVOCI as described above are measured at FVTPL. This includes all derivative financial assets. On initial recognition, the Company may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortized cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise. Financial liabilities are measured at amortized cost, unless they are required to be measured at FVTPL (such as instruments held for trading or derivatives) or the Company has elected to measure them at FVTPL. ii) Measurement Initial measurement On initial recognition, all financial assets and financial liabilities are measured at fair value adjusted for directly attributable transaction costs except for financial assets and liabilities classified as FVTPL, in which case the transaction costs are expensed as incurred. Subsequent measurement The following accounting policies apply to the subsequent measurement of financial instruments: Financial assets at FVTPL These assets are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are recognized in profit or loss. Financial assets at amortized cost These assets are subsequently measured at amortized cost using the effective interest method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss. Equity investments at FVOCI These assets are subsequently measured at fair value. Dividends are recognized as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI and are never reclassified to profit or loss. Debt investments at FVOCI These assets are subsequently measured at fair value. Interest income is calculated using the effective interest rate method; foreign exchange gains and losses and impairment are recognized in profit or loss. Other net gains and losses are recognized in OCI. On derecognition, gains and losses accumulated in OCI are reclassified to profit or loss. Impairment of financial instruments The Company assesses at each reporting date whether there is objective evidence that a financial asset or a group of financial assets is impaired. For financial assets measured at amortized cost, and debt investments at FVOCI, the Company applies the expected credit loss model.
Provisions	(n) Provisions Provisions are liabilities that are uncertain in time or amount. The Company records a provision when (i) the Company has a present obligation (legal or constructive) as a result of a past event; (ii) it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and (iii) a reliable estimate can be made of the amount of the obligation. Provisions are reviewed at each reporting date and adjusted to reflect management’s current best estimate of the cost to settle the present obligation. Where discounting has been used, the carrying amount of a provision is accreted to reflect the passage of time and the accretion expense is included in finance costs in the consolidated statements of income (loss).
Income taxes	(o) Income taxes Income tax is recognized in net income or loss except to the extent that it relates to items recognized directly in equity, in which case it is recognized directly in equity. Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or receivable in respect of previous years. The amount of current tax payable or receivable is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. It is measured using tax rates enacted or substantially enacted at the reporting date. Deferred tax assets and liabilities are determined based on differences between the financial statement carrying values of existing assets and liabilities and their respective income tax bases (temporary differences), and tax loss carry forwards. Deferred tax assets and liabilities are measured using enacted or substantively enacted tax rates expected to be in effect when the temporary differences are likely to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is included in net income in the period in which the change is substantively enacted. The amount of deferred tax assets recognized is limited to the amount that is, in management’s estimation, probable that future taxable profits will be available against which the asset can be utilized. Deferred tax assets and liabilities are offset (i) when there is a legally enforceable right to set off current tax assets against current tax liabilities, (ii) when they relate to income taxes levied by the same taxation authority, and (iii) the Company intends to settle its current tax assets and liabilities on a net basis.
Earnings per share	(p) Earnings per share Earnings per share is calculated based on the weighted average number of shares outstanding during the period. The Company follows the treasury stock method for the calculation of diluted earnings per share. Under this method, dilution is calculated based upon the net number of common shares issued should “in-the-money” options and warrants be exercised and the proceeds be used to repurchase common shares at the average market price during the period. Dilution from convertible securities is calculated based on the number of shares to be issued after taking into account the reduction of the related after-tax interest expense. Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per share is computed in a manner similar to basic earnings per share except that the weighted average shares outstanding are increased to include additional shares from restricted and deferred stock units and the assumed exercise of share options and warrants, if dilutive.
Segment reporting	(q) Segment reporting The Company has identified operating segments based on the internal reports that are reviewed and used by the Chief Executive Officer and the executive management team (the chief operating decision-maker – “CODM”) in assessing performance and in determining allocation of resources. The CODM considers the business from both a geographic and product perspective and assesses the performance of the operating segments based on measures such as net property, plant and equipment, as well as operating results. All operating segments’ operating results are reviewed regularly by the Company’s senior management to make decisions about resources to be allocated to the segment and to assess its performance, and for which discrete financial information is available. The Company has determined operating segments based on this information. Segment results that are reported to senior management include items directly attributable to a segment as well as those that can be allocated on a reasonable basis. Unallocated items are comprised mainly of corporate office expenses.
New and revised accounting standards not yet effective	(r) New and revised accounting standards not yet effective i) Property, plant and equipment - proceeds before intended use On May 14, 2020, the IASB issued a narrow scope amendment to IAS 16, Property, Plant and Equipment: Proceeds before Intended Use. The amendment prohibits deducting from the cost of property, plant and equipment amounts received from selling items produced while preparing the asset for its intended use. Instead, amounts received will be recognized as sales proceeds and the related cost in profit or loss. The effective date of the amendment is for annual periods beginning on or after January 1, 2022. The amendment must be applied retrospectively, but only to items of property, plant and equipment that are brought to the location and condition necessary for them to be capable of operating in the manner intended by management on or after the beginning of the earliest period presented in the consolidated financial statements in which the amendment is first applied. The Company will adopt this narrow scope amendment on the date it becomes effective. The amendment is not currently applicable to the Company; however, it may be applicable in the future should the Company receive proceeds from selling items produced prior to an asset being ready for its intended use. ii) Interest rate benchmark reform On August 27, 2020, the IASB issued 'Interest Rate Benchmark Reform — Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) with amendments that address issues that might affect financial reporting related to financial instruments and hedge accounting resulting from the reform of an interest rate benchmark, including its replacement with alternative benchmark rates. The amendments are effective for annual periods beginning on or after January 1, 2021, and are to be applied retrospectively. The Company is currently assessing the impact of the amendments on the Company's consolidated financial statements.
Accounting standards issued and adopted	(s) Accounting standards issued and adopted i) IFRS 3, Business Combinations In October 2019, the IASB issued amendments to the definition of a business in IFRS 3 – Business Combinations (“IFRS 3”). The amendments to IFRS 3 are effective for annual reporting periods beginning on or after January 2020. The modifications are intended to assist entities in determining whether a transaction should be accounted for as a business combination or as an asset acquisition. The modifications are effective for acquisition transactions on or after January 1, 2020. Effective January 1, 2020, the Company prospectively adopted the new IFRS 3 accounting standard which did not have an impact on the consolidated financial statements for the year ended December 31, 2020.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2020
SIGNIFICANT ACCOUNTING POLICIES
Disclosure of subsidiaries	Name Location Ownership Principal Activity Mina Tucano Ltda (formerly Beadell Brasil Ltda) Brazil 100% Mining company Mineral Mexicana el Rosario S.A. de C.V. Mexico 100% Mining company Great Panther Coricancha S.A. Peru 100% Exploration company

ACQUISITION OF BEADELL RESOUR_2

ACQUISITION OF BEADELL RESOURCES LIMITED (Tables)	12 Months Ended
	Dec. 31, 2020
ACQUISITION OF BEADELL RESOURCES LIMITED
Schedule of assets acquired and liabilities assumed	Preliminary Definitive Purchase Price Purchase Price Allocation Adjustments Allocation 103,593,043 common shares issued (1) $ 93,235 $ — $ 93,235 9,749,727 warrants issued 2,646 — 2,646 Consideration 95,881 — 95,881 Cash and cash equivalents 1,441 — 1,441 Trade and other receivables 26,733 (124) 26,609 Inventories 36,820 1,354 38,174 Other current assets 1,227 (352) 875 Restricted cash 61 — 61 Mineral properties, plant and equipment 143,147 (29,492) 113,655 Right-of-use assets 18,397 — 18,397 Exploration and evaluation assets 309 — 309 Other receivables – non-current 735 125 860 Trade payables and accrued liabilities (29,024) (126) (29,150) Borrowings (69,473) — (69,473) Lease liabilities (18,397) — (18,397) Deferred income tax liability — (3,457) (3,457) Great Panther loan advance (2,370) — (2,370) Reclamation and remediation provision (6,375) (6,534) (12,909) Other liabilities and provisions (7,350) (76) (7,426) Net identifiable assets acquired 95,881 (38,682) 57,199 Goodwill — 38,682 38,682 $ 95,881 $ — $ 95,881 (1) The common shares were valued at the closing price of the Company’s shares on the NYSE American on March 5, 2019 was ($0.90).
Schedule of details about amounts previously reported together with the revised amounts as if the accounting for the business combination had been accounted for as at the acquisition date	Preliminary Definitive Purchase Price Purchase Price Allocation Adjustments Allocation Revenue $ 132,974 $ — $ 132,974 Cost of sales Production costs 97,051 2,496 99,547 Amortization and depletion 21,238 61 21,299 Share-based compensation 238 — 238 General and administrative expenses 8,574 — 8,574 Exploration, evaluation, and development expenses 10,148 — 10,148 Impairment of goodwill — 38,682 38,682 Business acquisition costs 2,863 — 2,863 Care and maintenance costs 599 — 599 Finance and other expense 12,280 808 13,088 Loss before income taxes (20,017) (42,047) (62,064) Income tax expense 891 — 891 Net loss for the year $ (20,908) $ (42,047) $ (62,955)

TRADE AND OTHER RECEIVABLES (Ta

TRADE AND OTHER RECEIVABLES (Tables)	12 Months Ended
	Dec. 31, 2020
TRADE AND OTHER RECEIVABLES
Disclosure of detailed information about trade and other receivables	December 31, December 31, Current Trade receivables $ 2,011 $ 4,605 Value-added tax receivable 3,839 4,894 PIS / COFINS - Brazil (a) 8,732 10,889 Judicial deposits - Brazil 302 389 Other 760 979 15,644 21,756 Non-Current PIS / COFINS - Brazil (a) 9,058 8,988 Income taxes recoverable - Brazil 2,764 1,152 Other 14 15 $ 11,836 $ 10,155

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2020
INVENTORIES
Disclosure of detailed information about inventories	December 31, December 31, Concentrate $ 578 $ 968 Ore stockpiles 11,562 15,417 Materials and supplies 18,538 15,400 Gold in circuit 1,266 902 Gold bullion 1,794 2,430 Silver bullion 5 3 $ 33,743 $ 35,120

OTHER CURRENT ASSETS (Tables)

OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
OTHER CURRENT ASSETS
Schedule of other current assets	December 31, December 31, Prepaid expenses and deposits $ 3,569 $ 818 Reimbursement rights (note 11(a)) 1,918 6,465 Derivative assets (note 14) — 3,454 Marketable securities 1 1 Other current assets 187 642 $ 5,675 $ 11,380

MINERAL PROPERTIES, PLANT AND_2

MINERAL PROPERTIES, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2020
MINERAL PROPERTIES, PLANT AND EQUIPMENT
Disclosure of detailed information about property, plant and equipment	Furniture, Mineral Mineral fixtures properties – properties – Plant and Land and and Right-of-use depletable non depletable equipment buildings equipment assets Total Cost Balance, January 1, 2020 $ 58,237 $ 43,186 $ 83,335 $ 22,548 $ 5,636 $ 22,685 $ 235,627 Additions 32,754 — 3,499 5,692 3 890 42,838 Change in remediation provision 3,546 — (342) — — — 3,204 Foreign exchange translation difference (6,375) (9,317) (10,411) (4,443) (132) (4,670) (35,348) Balance, December 31, 2020 $ 88,162 $ 33,869 $ 76,081 $ 23,797 $ 5,507 $ 18,905 $ 246,321 Accumulated depreciation Balance, January 1, 2020 $ 38,964 $ — $ 44,769 $ 5,726 $ 4,549 $ 7,809 $ 101,817 Amortization and depletion 15,790 — 15,435 4,508 430 4,881 41,044 Foreign exchange translation difference (1,129) — (3,286) (891) (46) (1,747) (7,099) Balance, December 31, 2020 $ 53,625 $ — $ 56,918 $ 9,343 $ 4,933 $ 10,943 $ 135,762 Carrying value, December 31, 2020 $ 34,537 $ 33,869 $ 19,163 $ 14,454 $ 574 $ 7,962 $ 110,559 Cost Balance, January 1, 2019 $ 36,066 $ — $ 35,184 $ 2,573 $ 4,987 $ 1,150 $ 79,960 Acquisition of Beadell 3,676 46,608 46,726 16,145 500 18,397 132,052 Additions 16,346 — 4,401 4,940 223 4,498 30,408 Change in remediation provision 2,996 — 30 — — — 3,026 Disposals — — (185) (3) (44) (33) (265) Foreign exchange translation difference (847) (3,422) (2,281) (1,107) (30) (1,327) (9,554) Balance, December 31, 2019 $ 58,237 $ 43,186 $ 83,335 $ 22,548 $ 5,636 $ 22,685 $ 235,627 Accumulated depreciation Balance, January 1, 2019 $ 32,051 $ — $ 27,593 $ 1,653 $ 4,121 $ — $ 65,418 Amortization and depletion 6,820 — 17,434 4,095 464 7,878 36,691 Disposals — — (185) — (41) (6) (232) Foreign exchange translation difference 93 — (73) (22) 5 (63) (60) Balance, December 31, 2019 $ 38,964 $ — $ 44,769 $ 5,726 $ 4,549 $ 7,809 $ 101,817 Carrying value, December 31, 2019 $ 19,273 $ 43,186 $ 38,566 $ 16,822 $ 1,087 $ 14,876 $ 133,810
Schedule of Lease liability	i) Right-of-use assets Mining Power Office & Land equipment generators Vehicles Communication easements Total Balance, January 1, 2020 $ 7,376 $ 5,035 $ 1,095 $ 658 $ 712 $ 14,876 Additions 801 — — 89 — 890 Amortization and depletion (2,663) (1,437) (378) (266) (137) (4,881) Foreign exchange translation difference (1,589) (1,090) (241) (3) — (2,923) Balance, December 31, 2020 $ 3,925 $ 2,508 $ 476 $ 478 $ 575 $ 7,962 Mining Power Office & Land equipment generators Vehicles Communication easements Total Balance, January 1, 2019 $ — $ — $ — $ 881 $ 269 $ 1,150 Acquisition of Beadell 8,402 7,732 1,923 340 — 18,397 Additions 3,853 57 — — 588 4,498 Disposals — — — (27) — (27) Amortization and depletion (4,244) (2,264) (707) (518) (145) (7,878) Foreign exchange translation difference (635) (490) (121) (18) — (1,264) Balance, December 31, 2019 $ 7,376 $ 5,035 $ 1,095 $ 658 $ 712 $ 14,876 ii) Lease liabilities December 31, December 31, Maturity analysis – contractual undiscounted cash flows Less than one year $ 5,855 $ 6,707 One to five years 5,475 12,558 More than five years 98 123 Total undiscounted lease liabilities 11,428 19,388 Lease liabilities in the Consolidated Statement of Financial Position 11,221 17,986 Current (note 12 (a)) 5,296 5,499 Non-current (note 12 (b)) $ 5,925 $ 12,487 iii) Amount recognized in the Consolidated Statements of Comprehensive Income Interest on lease liabilities $ 1,332 $ 1,564 Variable lease payments not included in the measurement of lease liabilities 49,723 43,889 Expenses relating to short-term leases 15,564 12,953 Expenses relating to leases of low-value assets, excluding short-term leases of low-value assets 11 13

EXPLORATION AND EVALUATION AS_2

EXPLORATION AND EVALUATION ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
EXPLORATION AND EVALUATION ASSETS
Disclosure of detailed information about exploration and evaluation expenditure	Santa Rosa El Horcón Property Property Coricancha Tucano Total Balance, January 1, 2019 $ 988 $ 1,124 $ $ — $ 15,065 Acquisition of Beadell (note 5) — — — 309 309 Change in reclamation and remediation provision — — 304 — 304 Foreign exchange translation difference — — — (19) (19) Balance, December 31, 2019 $ 988 $ 1,124 $ 13,257 $ 290 $ 15,659 Change in reclamation and remediation provision — — 10,739 — 10,739 Foreign exchange translation difference — — — (64) (64) Balance, December 31, 2020 $ 988 $ 1,124 $ 23,996 $ 226 $ 26,334
Disclosure of detailed information about business combinations	Preliminary Definitive Purchase Price Purchase Price Allocation Adjustments Allocation 103,593,043 common shares issued (1) $ 93,235 $ — $ 93,235 9,749,727 warrants issued 2,646 — 2,646 Consideration 95,881 — 95,881 Cash and cash equivalents 1,441 — 1,441 Trade and other receivables 26,733 (124) 26,609 Inventories 36,820 1,354 38,174 Other current assets 1,227 (352) 875 Restricted cash 61 — 61 Mineral properties, plant and equipment 143,147 (29,492) 113,655 Right-of-use assets 18,397 — 18,397 Exploration and evaluation assets 309 — 309 Other receivables – non-current 735 125 860 Trade payables and accrued liabilities (29,024) (126) (29,150) Borrowings (69,473) — (69,473) Lease liabilities (18,397) — (18,397) Deferred income tax liability — (3,457) (3,457) Great Panther loan advance (2,370) — (2,370) Reclamation and remediation provision (6,375) (6,534) (12,909) Other liabilities and provisions (7,350) (76) (7,426) Net identifiable assets acquired 95,881 (38,682) 57,199 Goodwill — 38,682 38,682 $ 95,881 $ — $ 95,881 (1) The common shares were valued at the closing price of the Company’s shares on the NYSE American on March 5, 2019 was ($0.90).

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
OTHER ASSETS
Schedule of other assets	December 31, December 31, Restricted cash $ 31 $ 927 Reimbursement rights (a) 12,178 4,705 Deferred tax assets — 145 $ 12,209 $ 5,777

TRADE PAYABLES AND ACCRUED LI_2

TRADE PAYABLES AND ACCRUED LIABILITIES AND OTHER LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2020
TRADE PAYABLES AND ACCRUED LIABILITIES AND OTHER LIABILITIES
Disclosure of accrued expenses and other liabilities	December 31, December 31, Trade payables $ 27,478 $ 27,311 Accrued liabilities 14,758 13,181 Taxes payable 3,306 499 Lease liabilities 5,296 5,499 Other payables 2,383 3,043 $ 53,221 $ 49,533 December 31, December 31, Lease liabilities $ 5,925 $ 12,487 Accrued liabilities 192 4,591 $ 6,117 $ 17,078

BORROWINGS (Tables)

BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2020
BORROWINGS
Schedule of detailed information about borrowings	Unsecured bank Bank MACA facilities overdraft IXM Note Bradesco Samsung Total Balance, January 1, 2020 $ 16,060 $ 16,034 $ 589 $ 10,010 $ — $ — $ 42,693 Borrowings — 22,044 219 — 2,500 11,250 36,013 Interest accrued 449 891 — 548 223 583 2,694 Principal repayments (12,686) (20,500) (846) (10,000) — (804) (44,836) Interest payments (628) (953) — (558) (319) (561) (3,019) Foreign exchange (185) — 38 — — — (147) Balance, December 31, 2020 $ 3,010 $ 17,516 $ — $ — $ 2,404 $ 10,468 $ 33,398 Current $ 3,010 $ 17,516 $ — $ — $ 736 $ 9,671 $ 30,933 Non-current $ — $ — $ — $ — $ 1,668 $ 797 $ 2,465 Note (a) (b) (c) (d) Currency AUD USD USD USD USD USD Nominal interest rate 5.5 % 5.4 % 13.7 % 3-month LIBOR plus 5 % 3.7 % 3-month LIBOR plus 5 % Year of maturity

RECLAMATION AND REMEDIATION P_2

RECLAMATION AND REMEDIATION PROVISIONS (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of other provisions [line items]
Disclosure of detailed information about reclamation and remediation provisions, by site	December 31, 2020 December 31, 2019 Total Current Non-current Total Current Non-current Tucano $ 15,241 $ — $ 15,241 $ 17,079 $ — $ 17,079 GMC 8,184 348 7,836 8,725 — 8,725 Topia 6,601 — 6,601 4,697 — 4,697 Coricancha 38,299 610 37,689 25,073 4,927 20,146 $ 68,325 $ 958 $ 67,367 $ 55,574 $ 4,927 $ 50,647
Disclosure of detailed information about reclamation and remediation provisions	December 31, December 31, Balance, beginning of year $ 55,574 $ 27,420 Acquisition of Beadell (note 5) — 12,909 Change in estimates 16,607 13,389 Accretion 1,517 1,840 Reclamation work performed (902) — Foreign exchange (4,471) 16 Balance, end of year $ 68,325 $ 55,574
Topia Mine [Member]
Disclosure of other provisions [line items]
Disclosure of detailed information about assumptions of reclamation and remediation provisions	Total estimated future cash flows $ 18,895 $ 15,745 Expected settlement of obligations (years) 2021 - 2043 2021 – 2045 Weighted average risk-free rate (discount rate) GMC 4.6 % 1.9 % Topia 4.8 % 2.1 %
Coricancha Mining Complex [Member]
Disclosure of other provisions [line items]
Disclosure of detailed information about assumptions of reclamation and remediation provisions	Total estimated future cash flows $ 42,725 $ 33,795 Expected settlement of obligations (years) 2021 - 2049 2020 – 2049 Weighted average risk-free rate (discount rate) 0.8 % 3.4 %
Tucano [Member]
Disclosure of other provisions [line items]
Disclosure of detailed information about assumptions of reclamation and remediation provisions	Total estimated cash flows $ 22,594 $ 19,731 Expected settlement of obligations (years) 2024 - 2029 2024 - 2029 Weighted average risk-free rate (discount rate) % 6.7 %

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of classes of share capital [line items]
Disclosure of number and weighted average exercise prices of share options	2020 2019 Weighted Weighted Options average Options average (000’s) exercise price (000’s) exercise price Outstanding, January 1 8,316 C$ 1.20 8,322 C$ 1.27 Granted 6,255 0.56 3,491 1.01 Forfeited/Expired (3,582) 0.78 (2,580) 1.33 Exercised (1,280) 0.74 (917) 0.73 Outstanding, December 31 9,709 C$ 1.00 8,316 C$ 1.20 Exercisable, December 31 3,355 C$ 1.65 5,210 C$ 1.24
Disclosure of range of exercise prices of outstanding share options	Weighted average Options remaining Options Weighted outstanding contractual life exercisable average Range of exercise prices (000’s) (years) (000’s) exercise price C$0.54 to $0.61 4,552 4.27 — C$ — C$0.62 to $1.07 2,080 3.79 526 0.97 C$1.08 to $1.59 641 2.72 522 1.37 C$1.60 to $1.90 1,379 2.07 1,250 1.61 C$1.91 to $2.19 1,057 0.61 1,057 2.18 9,709 3.36 3,355 C$ 1.65
Disclosure of detailed information about options, valuation assumptions	Risk-free interest rate 0.45 % 1.36 % Expected life (years) 3.11 3.05 Annualized volatility 62 % 54 % Forfeiture rate 17 % 15 %
Earnings per share	Income (loss) attributable to equity owners $ 334 $ (91,022) Weighted average number of shares (000's) 337,834 273,380 Earnings (loss) per share ‒ basic $ 0.00 $ (0.33) Earnings (loss) attributable to equity owners $ 334 $ (91,022) Weighted average number of shares (000's) 337,834 273,380 Effect of dilutive stock options, RSUs and DSUs 6,362 — Weighted average diluted number of shares (000's) 344,196 273,380 Earnings (loss) per share ‒ diluted $ 0.00 $ (0.33)
Deferred share units [Member]
Disclosure of classes of share capital [line items]
Disclosure of number and weighted average exercise prices of share options	2020 2019 Weighted Weighted average grant average grant Number of date fair value Number of date fair value units ($/unit) units ($/unit) Balance at January 1 946,150 C$ 1.19 251,400 C$ 1.59 Granted 2,167,939 0.57 732,550 1.05 Settled (693,900) 0.69 (37,800) 1.16 Outstanding at December 31 2,420,189 C$ 0.78 946,150 C$ 1.19
Restricted share units [Member]
Disclosure of classes of share capital [line items]
Disclosure of number and weighted average exercise prices of share options	2020 2019 Weighted Weighted average grant average grant Number of date fair value Number of date fair value units ($/unit) units ($/unit) Balance at January 1 1,243,530 C$ 1.19 733,667 C$ 1.59 Granted 1,636,000 0.56 2,429,640 1.02 Settled (779,596) 1.10 (1,187,459) 1.14 Cancelled (188,500) 1.02 (732,318) 1.16 Outstanding at December 31 1,911,434 C$ 0.70 1,243,530 C$ 1.19
Performance Share Units [Member]
Disclosure of classes of share capital [line items]
Disclosure of number and weighted average exercise prices of share options	2020 2019 Weighted Weighted average average grant grant date fair Number of date fair value Number of value units ($/unit) units ($/unit) Balance at January 1 531,000 C$ 1.14 — C$ — Granted 1,510,700 0.56 531,000 1.14 Cancelled (137,200) 0.89 — — Outstanding at December 31 1,904,500 C$ 0.70 531,000 C$ 1.14

REVENUE (Tables)

REVENUE (Tables)	12 Months Ended
	Dec. 31, 2020
REVENUE
Disclosure of disaggregation of revenue from contracts with customers	2020 2019 Brazil Mexico Total Brazil Mexico Total Gold $ 223,272 $ 12,841 $ 236,113 $ 153,504 $ 16,724 $ 170,228 Silver 487 22,473 22,960 93 23,028 23,121 Lead — 2,180 2,180 — 3,617 3,617 Zinc — 3,161 3,161 — 4,861 4,861 Ore processing revenue — 34 34 — 102 102 Smelting and refining charges (69) (4,031) (4,100) (200) (3,524) (3,724) Revenue from contracts with customers $ 223,690 $ 36,658 $ 260,348 $ 153,397 $ 44,808 $ 198,205 Changes in fair value from provisional pricing — 457 457 — 448 448 Total revenue $ 223,690 $ 37,115 $ 260,805 $ 153,397 $ 45,256 $ 198,653
Schedule of Revenue by Major Customers by Reporting Segments	Customer Geographical Market Customer A Brazil $ 122,303 $ — Customer B Brazil 64,426 — Customer C Brazil 36,961 153,397 Customer D Mexico (Guanajuato) 21,281 2,549 Customer E Mexico (Topia) 13,950 — Customer F Mexico (Guanajuato) (9) 18,445 Customer F Mexico (Topia) (110) 19,892 Customer G Mexico (Guanajuato) — 2,571 Customer G Mexico (Topia) 1,969 1,697 Customer H Mexico (Topia) 34 102 $ 260,805 $ 198,653

PRODUCTION COSTS (Tables)

PRODUCTION COSTS (Tables)	12 Months Ended
	Dec. 31, 2020
PRODUCTION COSTS
Schedule of production cost	Raw materials and consumables $ 51,826 $ 58,046 Salaries and employee benefits 16,321 17,403 Contractors 55,315 58,952 Repairs and maintenance 1,171 801 Site administration 3,962 3,815 Royalties 5,918 7,572 Mining duties 160 168 Share-based compensation 336 358 135,009 147,115 Less: Change in inventories 1,624 10,022 Total production costs $ 136,633 $ 157,137

GENERAL AND ADMINISTRATIVE EX_2

GENERAL AND ADMINISTRATIVE EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2020
GENERAL AND ADMINISTRATIVE EXPENSES
Schedule of general and administrative expenses	Salaries and employee benefits $ 4,042 $ 5,617 Professional fees 1,674 1,707 Office and other expenses 4,758 8,397 Amortization 446 514 Share-based compensation 2,006 1,322 Total general and administrative expenses $ 12,926 $ 17,557

EXPLORATION AND EVALUATION EX_2

EXPLORATION AND EVALUATION EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2020
EXPLORATION AND EVALUATION EXPENSES
Schedule of Exploration and evaluation expenses	Salaries and employee benefits $ 2,223 $ 2,878 Raw materials and consumables 892 1,237 Professional fees 4,411 5,978 Office and other expenses 2,724 2,648 Share-based compensation 120 46 Total exploration and evaluation expenses $ 10,370 $ 12,787

OTHER INCOME (EXPENSE) (Tables)

OTHER INCOME (EXPENSE) (Tables)	12 Months Ended
	Dec. 31, 2020
OTHER INCOME (EXPENSE)
Schedule of other income expense	Accretion expense $ (2,629) $ (3,404) Gain (loss) on derivative instruments (27,980) 2,353 Foreign exchange loss (16,397) (3,852) Other expense (2,188) (3,211) $ (49,194) $ (8,114)

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
INCOME TAXES
Disclosure of detailed information about reconciliation of income taxes computed as statutory tax rate	Net income (loss) before tax $ 4,125 $ (90,278) Canadian statutory income tax rate 27 % 27 % Anticipated income tax at statutory rate $ 1,115 $ (24,181) Permanent differences (2,084) 11,750 Differences between Canadian and foreign tax rates 3,144 (3,035) Change in estimate 1,668 53 Impact of foreign exchange on local currencies 2,739 3,087 Change in deferred tax assets not recognized (2,451) 13,425 Other items (340) (355) Income tax expense $ 3,791 $ 744 Effective tax rate 92 % (1) %
Disclosure of deferred taxes	December 31, December 31, Deferred income tax assets $ — $ 49 Deferred special mining duty asset (liabilities) — 96 Total deferred income tax assets — 145 Deferred income tax liabilities (2,488) (3,208) Deferred withholding tax liabilities (2,194) (2,157) Total deferred income tax liabilities (4,682) (5,365) Net deferred income tax assets (liabilities) $ (4,682) $ (5,220)
Disclosure of temporary difference, unused tax losses and unused tax credits	December 31, December 31, Tax losses carried forward $ 18,968 $ 19,394 Withholding tax liability (2,194) (2,157) Mineral properties, plant and equipment (20,298) (24,557) Other taxable temporary differences (1,158) (220) Other deductible temporary differences — 2,320 Net deferred income tax liabilities $ (4,682) $ (5,220)
Disclosure of detailed information about effective income tax expense recovery	Current expense: Income tax $ 3,647 $ 135 Withholding tax — 427 3,647 562 Deferred tax expense (recovery): Income tax 144 78 Withholding tax — 104 144 182 Income tax expense $ 3,791 $ 744
Disclosure of unused tax losses	2020 2019 Type of losses Country Expiry dates Amount Expiry dates Amount Non-capital losses Canada 2026 to 2040 $ 29,730 2026 to 2039 $ 2,843 Mexico 2023 to 2030 $ 24,870 2020 to 2028 $ 21,560 Brazil indefinite $ 79,382 indefinite $ 102,357 Peru indefinite $ 73,491 indefinite $ 74,965 Capital losses Canada indefinite $ — indefinite $ 1,171
Disclosure of detailed information about temporary differences of unrecognized deferred tax assets	December 31, December 31, Tax losses carried forward $ 217,342 $ 130,131 Mineral properties, plant and equipment 45,429 90,647 Other deductible temporary differences 105,725 143,553 Unrecognized temporary differences $ 368,496 $ 364,331

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
FAIR VALUE MEASUREMENTS
Disclosure of detailed information about financial instruments	Fair value Fair value through through Amortized Fair value OCI P&L cost Total hierarchy Financial Assets Cash and cash equivalents $ — $ — $ 63,396 $ 63,396 n/a Marketable securities 1 — — 1 Level 1 Trade receivables — — 2,011 2,011 Level 2 Restricted cash — — 1,055 1,055 n/a Financial Liabilities Trade payables and accrued liabilities $ — $ — $ 42,428 $ 42,428 n/a Derivative liabilities — 2,974 — 2,974 Level 2 Borrowings — — 33,398 33,398 Level 2

FINANCIAL RISK MANAGEMENT (Tabl

FINANCIAL RISK MANAGEMENT (Tables)	12 Months Ended
	Dec. 31, 2020
FINANCIAL RISK MANAGEMENT
Disclosure of credit risk exposure	December 31, December 31, 0 to 30 days $ 1,343 $ 4,121 31 to 60 days 400 389 61 to 90 days 142 150 over 90 days 126 (55) $ 2,011 $ 4,605
Disclosure of detailed information about foreign currency risk	Canadian Australian Peruvian dollars Brazilian dollars Mexican soles Change in net income arising from: ("CAD") real ("AUD") pesos ("PEN") 10% appreciation of the USD against the currency $ 68 $ 1,255 $ (78) $ (150) $ 287 10% depreciation of the USD against the currency $ (80) $ (1,222) $ 78 $ 157 $ (287)
Disclosure of detailed information about commodity price risk	10% change 10% change 10% change 10% change in gold in silver in lead in zinc Change in net income $ 549 $ 991 $ 69 $ 153

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2020
COMMITMENTS AND CONTINGENCIES
Disclosure of commitments and contingencies	Total 1 year 2-3 years 4-5 years Thereafter Operating lease payments $ 32 $ 32 $ — $ — $ — Drilling services 710 710 — — — Equipment purchases 1,420 1,420 — — — Total commitments $ 2,162 $ 2,162 $ — $ — $ —

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2020
RELATED PARTY TRANSACTIONS
Disclosure of information about key management personnel	Salaries and benefits $ 3,059 $ 1,674 Contract completion bonus - interim CEO 171 — Directors’ fees 531 478 Termination benefits — 658 Share-based compensation 1,935 1,227 $ 5,696 $ 4,037

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2020
SUPPLEMENTAL CASH FLOW INFORMATION
Disclosure of detailed information about supplemental cash flow information	Accretion $ 2,629 $ 3,404 Finance expense 3,981 5,752 Finance income (347) (726) Loss on disposal of fixed assets 1 32 $ 6,264 $ 8,462
Disclosure of detailed information about non cash transactions	Change in reclamation and remediation provision included within mineral properties, plant and equipment and exploration and evaluation assets $ 13,943 $ 3,330 Change in lease liability related to right-of-use assets 890 4,498 Shares issued upon settlement of obligation 39 — Repayment of MACA borrowings by way of issuance of shares — 10,524

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
OPERATING SEGMENTS
Disclosure of detailed information about entity reportable segments, assets and liabilities	Operations Tucano GMC Topia Coricancha Exploration Corporate Total 2020 External revenue $ — $ 21,219 $ 15,896 $ — $ — $ 223,690 $ 260,805 Intersegment revenue 210,623 — — — — (210,623) — Amortization and depletion 35,986 1,564 2,745 198 — 258 40,751 Exploration and evaluation expenses 669 2,540 341 5,982 187 651 10,370 Non-cash change in reclamation and remediation provision — 41 — — — — 41 Care and maintenance costs — 693 — — — — 693 Finance income 121 — — — — 226 347 Finance expense 2,597 — — 188 — 1,196 3,981 Net income (loss) before income taxes 46,549 (2,621) (734) (6,503) (667) (31,899) 4,125 Income tax expense (recovery) 3,751 26 14 — — — 3,791 Net income (loss) 42,798 (2,647) (748) (6,503) (667) (31,899) 334 Additions to non-current assets 42,109 4 3,794 10,831 — 43 56,781 As at December 31, 2020 Total assets $ 167,524 $ 4,597 $ 14,456 $ 44,705 $ 2,126 $ 47,012 $ 280,420 Total liabilities $ 87,304 $ 16,535 $ 2,244 $ 43,333 $ 500 $ 18,801 $ 168,717 Operations Tucano GMC Topia Coricancha Exploration Corporate Total 2019 External revenue $ 99,572 $ 23,543 $ 21,713 $ — $ — $ 53,825 $ 198,653 Intersegment revenue 49,818 — — — — (49,818) — Amortization and depletion 30,816 1,436 2,431 253 4 245 35,185 Exploration and evaluation expenses 608 2,550 889 8,557 176 7 12,787 Non-cash change in reclamation and remediation provision — 6,829 2,923 — — — 9,752 Care and maintenance costs — 795 — — — — 795 Impairment of goodwill 38,682 — — — — — 38,682 Interest income 14 — — 4 — 708 726 Finance costs 5,741 — — 2 — 9 5,752 Loss before income taxes (66,473) (7,436) (2,796) (9,524) (264) (3,785) (90,278) Income tax expense — 122 91 – — 531 744 Net loss (66,473) (7,558) (2,887) (9,524) (264) (4,316) (91,022) Additions to non-current assets 28,593 317 3,963 1,195 — 821 34,889 As at December 31, 2019 Total assets $ 177,683 $ 7,060 $ 15,304 $ 28,414 $ 2,159 $ 40,122 $ 270,742 Total liabilities $ 107,354 $ 15,772 $ 2,445 $ 29,556 $ — $ 15,116 $ 170,243

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details)	1 Months Ended
	Jun. 30, 2017t
Coricancha Mining Complex [Member]
Disclosure Of Nature Of Operations [Line Items]
Tonnes processed per day	600

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Principal subsidiaries (Details)	12 Months Ended
	Dec. 31, 2020
Mina Tucano Ltda Formerly Beadell Brasil Ltda [Member
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%
Mineral Mexicana el Rosario, S.A. de C.V. [Member]
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%
Great Panther Coricancha S.A. [Member]
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%

ACQUISITION OF BEADELL RESOUR_3

ACQUISITION OF BEADELL RESOURCES LIMITED - Business Combination (Details) - USD ($) $ in Thousands	Mar. 05, 2019	Dec. 31, 2020	Dec. 31, 2019
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract]
Deferred income tax liabilities		$ (2,488)	$ (3,208)
BEADELL RESOURCES LIMITED [Member]
Disclosure of detailed information about business combination [line items]
Number of shares issued on acquisition	103,593,043
103,593,043 common shares issued	$ 93,235
Number of share purchase warrants issued	9,749,727
9,749,727 warrants issued	$ 2,646
Consideration	95,881
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract]
Cash and cash equivalents	1,441
Trade and other receivables	26,609
Inventories	38,174
Other current assets	875
Restricted cash	61
Mineral properties, plant and equipment	113,655
Right-of-use assets	18,397
Exploration and evaluation assets	309
Other receivables - non-current	860
Trade payables and accrued liabilities	(29,150)
Borrowings	(69,473)
Lease liabilities	(18,397)
Deferred income tax liabilities	(3,457)
Great Panther loan advance	(2,370)
Reclamation and remediation provision	(12,909)
Other liabilities and provisions	(7,426)
Net identifiable assets acquired	57,199
Goodwill	38,682
Consideration	95,881
BEADELL RESOURCES LIMITED [Member] | Preliminary Purchase Price Allocation
Disclosure of detailed information about business combination [line items]
103,593,043 common shares issued	93,235
9,749,727 warrants issued	2,646
Consideration	95,881
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract]
Cash and cash equivalents	1,441
Trade and other receivables	26,733
Inventories	36,820
Other current assets	1,227
Restricted cash	61
Mineral properties, plant and equipment	143,147
Right-of-use assets	18,397
Exploration and evaluation assets	309
Other receivables - non-current	735
Trade payables and accrued liabilities	(29,024)
Borrowings	(69,473)
Lease liabilities	(18,397)
Great Panther loan advance	(2,370)
Reclamation and remediation provision	(6,375)
Other liabilities and provisions	(7,350)
Net identifiable assets acquired	95,881
Consideration	95,881
BEADELL RESOURCES LIMITED [Member] | Adjustments
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract]
Trade and other receivables	(124)
Inventories	1,354
Other current assets	(352)
Mineral properties, plant and equipment	(29,492)
Other receivables - non-current	125
Trade payables and accrued liabilities	(126)
Deferred income tax liabilities	(3,457)
Reclamation and remediation provision	(6,534)
Other liabilities and provisions	(76)
Net identifiable assets acquired	(38,682)
Goodwill	$ 38,682

ACQUISITION OF BEADELL RESOUR_4

ACQUISITION OF BEADELL RESOURCES LIMITED - Amounts previously reported together with the revised amounts as if the accounting for the business combination had been accounted for as at Acquisition date (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about business combination [line items]
Revenue	$ 132,974	$ 260,805	$ 198,653
Cost of sales
Production costs	99,547	136,633	157,137
Amortization and depletion	21,299	40,305	34,671
Share-based compensation	238
General and administrative expenses	8,574	12,926	17,557
Exploration, evaluation, and development expenses	10,148	13,295	24,026
Impairment of goodwill	38,682		38,682
Business acquisition costs	2,863		2,923
Care and maintenance costs	599	693	795
Finance and other expense	13,088	(52,828)	(13,140)
Loss before income taxes	(62,064)	4,125	(90,278)
Income tax expense	891	3,791	744
Net loss for the year	(62,955)	$ 334	$ (91,022)
Preliminary Purchase Price Allocation
Disclosure of detailed information about business combination [line items]
Revenue	132,974
Cost of sales
Production costs	97,051
Amortization and depletion	21,238
Share-based compensation	238
General and administrative expenses	8,574
Exploration, evaluation, and development expenses	10,148
Business acquisition costs	2,863
Care and maintenance costs	599
Finance and other expense	12,280
Loss before income taxes	(20,017)
Income tax expense	891
Net loss for the year	(20,908)
Adjustments
Cost of sales
Production costs	2,496
Amortization and depletion	61
Impairment of goodwill	38,682
Finance and other expense	808
Loss before income taxes	(42,047)
Net loss for the year	$ (42,047)

ACQUISITION OF BEADELL RESOUR_5

ACQUISITION OF BEADELL RESOURCES LIMITED - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 11, 2019	Mar. 05, 2019	Dec. 05, 2018	Feb. 28, 2019	Dec. 31, 2019
Disclosure of detailed information about business combination [line items]
Cash advance					$ 354
Closing share price		$ 0.90
BEADELL RESOURCES LIMITED [Member]
Disclosure of detailed information about business combination [line items]
Percentage of voting equity interests acquired		100.00%
Number of shares issued on acquistion		103,593,043
Percetntage of post acquisition shares issued and outstanding		38.00%
Share exchange ratio		0.0619
Number of share purchase warrants issued		9,749,727
Excercise Share Price		$ 1.317
Payment of acquisition cost		$ 2,923
Non-revolving Term Loan			$ 5,000
Repayment of principal amount received			3,000
Payment of accrued interest received			69
Cash advance	$ 2,000		$ 2,370	$ 354
Revenue					228,691
Profit (loss) of acquiree since acquisition date					$ 96,124

TRADE AND OTHER RECEIVABLES (De

TRADE AND OTHER RECEIVABLES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
TRADE AND OTHER RECEIVABLES
Trade receivables	$ 2,011	$ 4,605
Value-added tax receivables	3,839	4,894
PIS / COFINS - Brazil (a)	8,732	10,889
Judicial Deposit - Brazil (b)	302	389
Other	760	979
Total trade and other receivables	15,644	21,756
PIS / COFINS Brazil (a)	9,058	8,988
Income taxes recoverable - Brazil	2,764	1,152
Other	14	15
Non-current restricted cash and cash equivalents	$ 11,836	$ 10,155

TRADE AND OTHER RECEIVABLES - A

TRADE AND OTHER RECEIVABLES - Additional informaton (Details)	12 Months Ended
	Dec. 31, 2020
TRADE AND OTHER RECEIVABLES
Percentage of rate on Program of Social Integration.	1.65
Percentage of rates on contribution for the financing of Social Security	7.65%

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
INVENTORIES
Concentrate	$ 578	$ 968
Ore stockpiles	11,562	15,417
Materials and supplies	18,538	15,400
Gold in circuit	1,266	902
Gold bullion	1,794	2,430
Silver bullion	5	3
Total inventories	$ 33,743	$ 35,120

INVENTORIES - Additional Inform

INVENTORIES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
INVENTORIES
Inventory recognized as cost of sales	$ 161.8	$ 154.1

OTHER CURRENT ASSETS (Details)

OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
OTHER CURRENT ASSETS
Prepaid expenses and deposits	$ 3,569	$ 818
Reimbursement rights (note 11(a))	1,918	6,465
Derivative assets (note 14)		3,454
Marketable securities	1	1
Other current assets	187	642
Total other current assets	$ 5,675	$ 11,380

MINERAL PROPERTIES, PLANT AND_3

MINERAL PROPERTIES, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	$ 133,810
Additions	890	$ 4,498
Property, plant and equipment at end of period	110,559	133,810
At cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	235,627	79,960
Acquisition of Beadell		132,052
Additions	42,838	30,408
Change in reclamation provision	3,204	3,026
Disposals		(265)
Foreign exchange translation difference	(35,348)	(9,554)
Property, plant and equipment at end of period	246,321	235,627
Accumulated depreciation and amortisation [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	101,817	65,418
Amortization and depletion	41,044	36,691
Disposals		(232)
Foreign exchange translation difference	(7,099)	(60)
Property, plant and equipment at end of period	135,762	101,817
Mineral Properties Depletable [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	19,273
Property, plant and equipment at end of period	34,537	19,273
Mineral Properties Depletable [Member] | At cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	58,237	36,066
Acquisition of Beadell		3,676
Additions	32,754	16,346
Change in reclamation provision	3,546	2,996
Foreign exchange translation difference	(6,375)	(847)
Property, plant and equipment at end of period	88,162	58,237
Mineral Properties Depletable [Member] | Accumulated depreciation and amortisation [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	38,964	32,051
Amortization and depletion	15,790	6,820
Foreign exchange translation difference	(1,129)	93
Property, plant and equipment at end of period	53,625	38,964
Mineral Properties Non-Depletable [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	43,186
Property, plant and equipment at end of period	33,869	43,186
Mineral Properties Non-Depletable [Member] | At cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	43,186
Acquisition of Beadell		46,608
Foreign exchange translation difference	(9,317)	(3,422)
Property, plant and equipment at end of period	33,869	43,186
Mineral properties, plant and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	38,566
Property, plant and equipment at end of period	19,163	38,566
Mineral properties, plant and equipment | At cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	83,335	35,184
Acquisition of Beadell		46,726
Additions	3,499	4,401
Change in reclamation provision	(342)	30
Disposals		(185)
Foreign exchange translation difference	(10,411)	(2,281)
Property, plant and equipment at end of period	76,081	83,335
Mineral properties, plant and equipment | Accumulated depreciation and amortisation [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	44,769	27,593
Amortization and depletion	15,435	17,434
Disposals		(185)
Foreign exchange translation difference	(3,286)	(73)
Property, plant and equipment at end of period	56,918	44,769
Land and buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	16,822
Property, plant and equipment at end of period	14,454	16,822
Land and buildings [member] | At cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	22,548	2,573
Acquisition of Beadell		16,145
Additions	5,692	4,940
Disposals		(3)
Foreign exchange translation difference	(4,443)	(1,107)
Property, plant and equipment at end of period	23,797	22,548
Land and buildings [member] | Accumulated depreciation and amortisation [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	5,726	1,653
Amortization and depletion	4,508	4,095
Foreign exchange translation difference	(891)	(22)
Property, plant and equipment at end of period	9,343	5,726
Furniture, fixtures and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	1,087
Property, plant and equipment at end of period	574	1,087
Furniture, fixtures and equipment [member] | At cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	5,636	4,987
Acquisition of Beadell		500
Additions	3	223
Disposals		(44)
Foreign exchange translation difference	(132)	(30)
Property, plant and equipment at end of period	5,507	5,636
Furniture, fixtures and equipment [member] | Accumulated depreciation and amortisation [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	4,549	4,121
Amortization and depletion	430	464
Disposals		(41)
Foreign exchange translation difference	(46)	5
Property, plant and equipment at end of period	4,933	4,549
Right Of Use Asssets [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	14,876
Property, plant and equipment at end of period	7,962	14,876
Right Of Use Asssets [Member] | At cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	22,685	1,150
Acquisition of Beadell		18,397
Additions	890	4,498
Disposals		(33)
Foreign exchange translation difference	(4,670)	(1,327)
Property, plant and equipment at end of period	18,905	22,685
Right Of Use Asssets [Member] | Accumulated depreciation and amortisation [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	7,809
Amortization and depletion	4,881	7,878
Disposals		(6)
Foreign exchange translation difference	(1,747)	(63)
Property, plant and equipment at end of period	$ 10,943	$ 7,809

MINERAL PROPERTIES, PLANT AND_4

MINERAL PROPERTIES, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Right-of-use assets
Beginning balance	$ 14,876	$ 1,150
Acquisition of Beadell (note 5)		18,397
Additions	890	4,498
Disposals		27
Amortization and depletion	(4,881)	(7,878)
Foreign exchange translation difference	(2,923)	(1,264)
Ending balance	7,962	14,876
Lease liabilities
Total undiscounted lease liabilities	11,428	19,388
Lease liabilities in the Consolidated Statement of Financial Position	11,221	17,986
Current (note 12 (a))	5,296	5,499
Non-current (note 12 (b))	5,925	12,487
Interest on lease liabilities	1,332	1,564
Variable lease payments not included in the measurement of lease liabilities	49,723	43,889
Expenses relating to short-term leases	15,564	12,953
Expenses relating to leases of low-value assets, excluding short-term leases of low-value assets	11	13
Less than one year
Lease liabilities
Total undiscounted lease liabilities	5,855	6,707
One to five years
Lease liabilities
Total undiscounted lease liabilities	5,475	12,558
More than five years
Lease liabilities
Total undiscounted lease liabilities	98	123
Mining property [member]
Right-of-use assets
Beginning balance	7,376
Acquisition of Beadell (note 5)		8,402
Additions	801	3,853
Amortization and depletion	(2,663)	(4,244)
Foreign exchange translation difference	(1,589)	(635)
Ending balance	3,925	7,376
Power generating assets [member]
Right-of-use assets
Beginning balance	5,035
Acquisition of Beadell (note 5)		7,732
Additions		57
Amortization and depletion	(1,437)	(2,264)
Foreign exchange translation difference	(1,090)	(490)
Ending balance	2,508	5,035
Vehicles [member]
Right-of-use assets
Beginning balance	1,095
Acquisition of Beadell (note 5)		1,923
Amortization and depletion	(378)	(707)
Foreign exchange translation difference	(241)	(121)
Ending balance	476	1,095
Communication and network equipment [member]
Right-of-use assets
Beginning balance	658	881
Acquisition of Beadell (note 5)		340
Additions	89
Disposals		27
Amortization and depletion	(266)	(518)
Foreign exchange translation difference	(3)	(18)
Ending balance	478	658
Land [member]
Right-of-use assets
Beginning balance	712	269
Additions		588
Amortization and depletion	(137)	(145)
Ending balance	$ 575	$ 712

MINERAL PROPERTIES, PLANT AND_5

MINERAL PROPERTIES, PLANT AND EQUIPMENT - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Expenses relating to short-term leases	$ 15,564	$ 12,953
Short-term lease payment related to mining services	$ 14,500	$ 11,900
Guanajuato Mine Complex [Member] | Mining property [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	2 years	2 years
Increased useful life	1 year
Tucano [Member] | Mining property [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	3 years	2 years
Increased useful life	2 years

EXPLORATION AND EVALUATION AS_3

EXPLORATION AND EVALUATION ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about intangible assets [line items]
Exploration and evaluation assets, beginning of period	$ 15,659	$ 15,065
Acquisition of Beadell (note 5)		309
Change in reclamation and remediation provision	10,739	304
Foreign exchange translation difference	(64)	(19)
Exploration and evaluation assets, end of period	26,334	15,659
Santa Rosa Property [Member]
Disclosure of detailed information about intangible assets [line items]
Exploration and evaluation assets, beginning of period	988	988
Exploration and evaluation assets, end of period	988	988
El Horcon Property [Member]
Disclosure of detailed information about intangible assets [line items]
Exploration and evaluation assets, beginning of period	1,124	1,124
Exploration and evaluation assets, end of period	1,124	1,124
Coricancha [Member]
Disclosure of detailed information about intangible assets [line items]
Exploration and evaluation assets, beginning of period	13,257	12,953
Change in reclamation and remediation provision	10,739	304
Exploration and evaluation assets, end of period	23,996	13,257
Tucano [Member]
Disclosure of detailed information about intangible assets [line items]
Exploration and evaluation assets, beginning of period	290
Acquisition of Beadell (note 5)		309
Foreign exchange translation difference	(64)	(19)
Exploration and evaluation assets, end of period	$ 226	$ 290

OTHER ASSETS (Details)

OTHER ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
OTHER ASSETS
Restricted cash	$ 31	$ 927
Reimbursement rights	12,178	4,705
Deferred tax assets		145
Other assets	$ 12,209	$ 5,777

OTHER ASSETS - Additional Infor

OTHER ASSETS - Additional Information (Details) - Nyrstar N. V. [Member] - USD ($) $ in Millions	Dec. 31, 2020	Jun. 30, 2017
Disclosure of reimbursement rights [line items]
Outstanding fines or sanctions settled		$ 4
Maximum
Disclosure of reimbursement rights [line items]
Reclamation funds available	$ 20
Outstanding fines or sanctions settled		$ 4

TRADE PAYABLES AND ACCRUED LI_3

TRADE PAYABLES AND ACCRUED LIABILITIES AND OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
TRADE PAYABLES AND ACCRUED LIABILITIES AND OTHER LIABILITIES
Trade payables	$ 27,478	$ 27,311
Accrued liabilities	14,758	13,181
Taxes payable	3,306	499
Lease liabilities	5,296	5,499
Other payables	2,383	3,043
Total trade and other current payables	53,221	49,533
Lease liabilities	5,925	12,487
Accrued liabilities	192	4,591
Total trade and other non-current payables	$ 6,117	$ 17,078

BORROWINGS (Details)

BORROWINGS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [line items]
Beginning balance	$ 42,693
Borrowings	36,013
Interest accrued	2,694
Principal repayments	(44,836)
Interest payments	(3,019)
Foreign exchange	(147)
Closing balance	33,398
Current	30,933
Non-current	2,465	$ 4,627
MACA Limited loan
Disclosure of detailed information about borrowings [line items]
Beginning balance	16,060
Borrowings	0
Interest accrued	449
Principal repayments	(12,686)
Interest payments	(628)
Foreign exchange	(185)
Closing balance	3,010
Current	3,010
Non-current	$ 0
Nominal interest rate	5.50%
Unsecured bank facilities
Disclosure of detailed information about borrowings [line items]
Beginning balance	$ 16,034
Borrowings	22,044
Interest accrued	891
Principal repayments	(20,500)
Interest payments	(953)
Foreign exchange	0
Closing balance	17,516
Current	17,516
Non-current	$ 0
Nominal interest rate	5.40%
Bank overdraft
Disclosure of detailed information about borrowings [line items]
Beginning balance	$ 589
Borrowings	219
Principal repayments	(846)
Interest payments	0
Foreign exchange	38
Closing balance	0
Current	0
Non-current	$ 0
Nominal interest rate	13.70%
IXM Note
Disclosure of detailed information about borrowings [line items]
Beginning balance	$ 10,010
Borrowings	0
Interest accrued	548
Principal repayments	(10,000)
Interest payments	(558)
Foreign exchange	0
Closing balance	0
Current	0
Non-current	$ 0
Nominal interest rate	5.00%
Bradesco
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 2,500
Interest accrued	223
Principal repayments	0
Interest payments	(319)
Foreign exchange	0
Closing balance	2,404
Current	736
Non-current	$ 1,668
Nominal interest rate	3.70%
Samsung
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 11,250
Interest accrued	583
Principal repayments	(804)
Interest payments	(561)
Foreign exchange	0
Closing balance	10,468
Current	9,671
Non-current	$ 797
Nominal interest rate	5.00%
Adjustment to nominal interest rate basis	5.00%

BORROWINGS (Details) - Addition

BORROWINGS (Details) - Additional Information $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)oz	Dec. 31, 2019USD ($)	Mar. 11, 2020USD ($)	Jan. 06, 2020USD ($)
Disclosure of detailed information about borrowings [line items]
Outstanding loan	$ 33,398	$ 42,693
Net proceeds from borrowings	36,013	32,210
MACA Limited loan
Disclosure of detailed information about borrowings [line items]
Outstanding loan	$ 3,010	16,060
Interest Rate	5.50%
Unsecured bank facilities
Disclosure of detailed information about borrowings [line items]
Outstanding loan	$ 17,516	$ 16,034
Weighted average fixed interest rate (as a percent)	5.40%
Matured borrowings	$ 1,400
Interest Rate	5.40%
Bradesco
Disclosure of detailed information about borrowings [line items]
Outstanding loan	$ 2,404		$ 10,000
Net proceeds from borrowings	2,500
Cash collateral amount	7,500
Quarterly repayments of borrowings	1,100
Quarterly repayments of Cash Collateral amount	300
Principal amount	$ 10,000
Interest Rate	3.70%
Gross borrowings	$ 10,000
Bradesco | Minimum
Disclosure of detailed information about borrowings [line items]
Interest rate on cash collateral amount	1.55
Bradesco | Maximum
Disclosure of detailed information about borrowings [line items]
Interest rate on cash collateral amount	2.40
Samsung
Disclosure of detailed information about borrowings [line items]
Outstanding loan	$ 10,468			$ 11,300
Adjustment to nominal interest rate basis	5.00%
Interest Rate	5.00%
Consideration of delivery and sale of gold units | oz	3,000
Loans and advances	$ 11,300
Discount rate	0.65%
Advances to be repaid in equal installments	$ 800
Penalty on Early Repayment of Advances	3.00%

DERIVATIVE INSTRUMENTS (Details

DERIVATIVE INSTRUMENTS (Details) R$ in Millions	12 Months Ended
	Dec. 31, 2020BRL (R$)	Dec. 31, 2019BRL (R$)	Dec. 31, 2020USD ($)$ / R$	Dec. 31, 2019USD ($)
Disclosure of detailed information about hedges [line items]
Non deliverable forward foreign exchange contract | R$	R$ 88.2	R$ 418.2
At fair value [member]
Disclosure of detailed information about hedges [line items]
Prices specified in forward agreements to purchase financial assets for cash			$ 3,000,000	$ 3,500,000
Minimum
Disclosure of detailed information about hedges [line items]
Closing foreign exchange rate | $ / R$			4.37
Maximum
Disclosure of detailed information about hedges [line items]
Prices specified in forward agreements to purchase financial assets for cash			$ 4.45

RECLAMATION AND REMEDIATION P_3

RECLAMATION AND REMEDIATION PROVISIONS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of other provisions [line items]
Total provision for decommissioning, restoration and rehabilitation costs	$ 68,325	$ 55,574	$ 27,420
Current Reclamation and remediation provision	958	4,927
Non-current Reclamation and remediation provision	67,367	50,647
Tucano [Member]
Disclosure of other provisions [line items]
Total provision for decommissioning, restoration and rehabilitation costs	15,241	17,079
Non-current Reclamation and remediation provision	15,241	17,079
Guanajuato Mine Complex [Member]
Disclosure of other provisions [line items]
Total provision for decommissioning, restoration and rehabilitation costs	8,184	8,725
Current Reclamation and remediation provision	348
Non-current Reclamation and remediation provision	7,836	8,725
Coricancha Mining Complex [Member]
Disclosure of other provisions [line items]
Total provision for decommissioning, restoration and rehabilitation costs	38,299	25,073
Current Reclamation and remediation provision	610	4,927
Non-current Reclamation and remediation provision	37,689	20,146
Topia Mine [Member]
Disclosure of other provisions [line items]
Total provision for decommissioning, restoration and rehabilitation costs	6,601	4,697
Non-current Reclamation and remediation provision	$ 6,601	$ 4,697

RECLAMATION AND REMEDIATION P_4

RECLAMATION AND REMEDIATION PROVISIONS - Reclamation and remediation provision roll-forward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
RECLAMATION AND REMEDIATION PROVISIONS
Reclamation and remediation provision, beginning balance	$ 55,574	$ 27,420
Acquisition of Beadell (note 5)		12,909
Change in estimates	16,607	13,389
Accretion expense	1,517	1,840
Reclamation work performed	(902)
Foreign exchange	4,471	(16)
Reclamation and remediation provision, ending balance	$ 68,325	$ 55,574

RECLAMATION AND REMEDIATION P_5

RECLAMATION AND REMEDIATION PROVISIONS - Assumptions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
GMC and Topia operations [Member]
Disclosure of other provisions [line items]
Total estimated cash flows, before inflation	$ 18,895	$ 15,745
Coricancha Mining Complex [Member]
Disclosure of other provisions [line items]
Total estimated cash flows, before inflation	$ 42,725	$ 33,795
Weighted average risk-free rate (discount rate)	0.80%	3.40%
Guanajuato Mine Complex [Member]
Disclosure of other provisions [line items]
Weighted average risk-free rate (discount rate)	4.60%	1.90%
Topia Mine [Member]
Disclosure of other provisions [line items]
Weighted average risk-free rate (discount rate)	4.80%	2.10%
Tucano [Member]
Disclosure of other provisions [line items]
Total estimated cash flows, before inflation	$ 22,594	$ 19,731
Weighted average risk-free rate (discount rate)	6.70%
Minimum | GMC and Topia operations [Member]
Disclosure of other provisions [line items]
Expected settlement of obligations (years)	2021	2021
Minimum | Coricancha Mining Complex [Member]
Disclosure of other provisions [line items]
Expected settlement of obligations (years)	2021	2020
Minimum | Tucano [Member]
Disclosure of other provisions [line items]
Expected settlement of obligations (years)	2024
Maximum | GMC and Topia operations [Member]
Disclosure of other provisions [line items]
Expected settlement of obligations (years)	2043	2045
Maximum | Coricancha Mining Complex [Member]
Disclosure of other provisions [line items]
Expected settlement of obligations (years)	2049	2049
Maximum | Tucano [Member]
Disclosure of other provisions [line items]
Expected settlement of obligations (years)	2029

RECLAMATION AND REMEDIATION P_6

RECLAMATION AND REMEDIATION PROVISIONS - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of other provisions [line items]
Change in estimates	$ 16,607	$ 13,389
GMC and Topia operations [Member]
Disclosure of other provisions [line items]
Percentage change in the discount rate	1.00%
Increase (decrease) through change in discount rate, reclamation and remediation provision	$ 600
Coricancha Mining Complex [Member]
Disclosure of other provisions [line items]
Change in estimates	13,700	600
Reimbursable amount	$ 12,200
Percentage change in the discount rate	1.00%
Increase (decrease) through change in discount rate, reclamation and remediation provision	$ 3,000
Tucano [Member]
Disclosure of other provisions [line items]
Change in estimates	$ 1,000	2,900
Percentage change in the discount rate	1.00%
Increase (decrease) through change in discount rate, reclamation and remediation provision	$ 700
Guanajuato Mine Complex [Member]
Disclosure of other provisions [line items]
Change in estimates	300	6,700
Topia Mine [Member]
Disclosure of other provisions [line items]
Change in estimates	$ 2,200	$ 3,200

SHARE CAPITAL (Details)

SHARE CAPITAL (Details) Unit14 in Thousands	12 Months Ended
	Dec. 31, 2020$ / shares	Dec. 31, 2019$ / shares
SHARE CAPITAL
Number of share options outstanding in share-based payment arrangement at beginning of period	8,316	8,322
Weighted average exercise price of share options outstanding in share-based payment arrangement at beginning of period	$ 1.20	$ 1.27
Number of share options granted in share-based payment arrangement	6,255	3,491
Weighted average exercise price of share options granted in share-based payment arrangement	$ 0.56	$ 1.01
Number of share options forfeited in share-based payment arrangement	(3,582)	(2,580)
Weighted average exercise price of share options forfeited in share-based payment arrangement	$ 0.78	$ 1.33
Number of share options exercised in share-based payment arrangement	(1,280)	(917)
Weighted average exercise price of share options exercised in share-based payment arrangement	$ 0.74	$ 0.73
Number of share options outstanding in share-based payment arrangement at end of period	9,709	8,316
Weighted average exercise price of share options outstanding in share-based payment arrangement at end of period	$ 1	$ 1.20
Number of share options exercisable in share-based payment arrangement	3,355	5,210
Weighted average exercise price of share options exercisable in share-based payment arrangement	$ 1.65	$ 1.24

SHARE CAPITAL - Options by exer

SHARE CAPITAL - Options by exercise price (Details) $ / shares in Units, Unit14 in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020$ / shares	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018
Disclosure of classes of share capital [line items]
Number of share options outstanding in share-based payment arrangement	9,709	9,709	8,316	8,322
Weighted average remaining contractual life of outstanding share options		0 years
Number of share options exercisable in share-based payment arrangement	3,355	3,355	5,210
Weighted average fair value of options granted in period | (per share)	$ 1.65	$ 0.23	$ 0.38
Share-based compensation expense for share options | $		$ 0.7	$ 0.6
C$0.54 to $0.61
Disclosure of classes of share capital [line items]
Number of share options outstanding in share-based payment arrangement	4,552	4,552
Weighted average remaining contractual life of outstanding share options		0 years
C$0.62 to $1.07
Disclosure of classes of share capital [line items]
Number of share options outstanding in share-based payment arrangement	2,080	2,080
Weighted average remaining contractual life of outstanding share options		0 years
Number of share options exercisable in share-based payment arrangement	526	526
Weighted average fair value of options granted in period	$ 0.97
C$1.08 to $1.59
Disclosure of classes of share capital [line items]
Number of share options outstanding in share-based payment arrangement	641	641
Weighted average remaining contractual life of outstanding share options		0 years
Number of share options exercisable in share-based payment arrangement	522	522
Weighted average fair value of options granted in period	$ 1.37
C$1.60 to $1.90
Disclosure of classes of share capital [line items]
Number of share options outstanding in share-based payment arrangement	1,379	1,379
Weighted average remaining contractual life of outstanding share options		0 years
Number of share options exercisable in share-based payment arrangement	1,250	1,250
Weighted average fair value of options granted in period	$ 1.61
C$1.91 to $2.19
Disclosure of classes of share capital [line items]
Number of share options outstanding in share-based payment arrangement	1,057	1,057
Weighted average remaining contractual life of outstanding share options		0 years
Number of share options exercisable in share-based payment arrangement	1,057	1,057
Weighted average fair value of options granted in period	$ 2.18

SHARE CAPITAL - Assumptions (De

SHARE CAPITAL - Assumptions (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
SHARE CAPITAL
Risk-free interest rate	0.45%	1.36%
Expected life (years)	3 years 1 month 10 days	3 years 18 days
Annualized volatility	62.00%	54.00%
Forfeiture rate	17.00%	15.00%

SHARE CAPITAL - DSUs and RSUs (

SHARE CAPITAL - DSUs and RSUs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Deferred share units [Member]
Disclosure of classes of share capital [line items]
Number of units outstanding, beginning of period	946,150	251,400
Units outstanding, weighted average grant date fair value, beginning of period	$ 1.19	$ 1.59
Units granted in period	2,167,939	732,550
Units granted in period, weighted average grant date fair value	$ 0.57	$ 1.05
Number Of Units Settled	(693,900)	(37,800)
Units Settled In Period Weighted Average Grant Date Fair Value	$ 0.69	$ 1.16
Number of units outstanding, end of period	2,420,189	946,150
Units outstanding, weighted average grant date fair value, end of period	$ 0.78	$ 1.19
Performance Share Units [Member]
Disclosure of classes of share capital [line items]
Number of units outstanding, beginning of period	531,000
Units outstanding, weighted average grant date fair value, beginning of period	$ 1.14
Units granted in period	1,510,700	531,000
Units granted in period, weighted average grant date fair value	$ 0.56	$ 1.14
Units cancelled in period	(137,200)
Units cancelled in period, weighted average grant date fair value	$ 0.89
Number of units outstanding, end of period	1,904,500	531,000
Units outstanding, weighted average grant date fair value, end of period	$ 0.70	$ 1.14
Restricted share units [Member]
Disclosure of classes of share capital [line items]
Number of units outstanding, beginning of period	1,243,530	733,667
Units outstanding, weighted average grant date fair value, beginning of period	$ 1.19	$ 1.59
Units granted in period	1,636,000	2,429,640
Units granted in period, weighted average grant date fair value	$ 0.56	$ 1.02
Number Of Units Settled	(779,596)	(1,187,459)
Units Settled In Period Weighted Average Grant Date Fair Value	$ 1.10	$ 1.14
Units cancelled in period	(188,500)	(732,318)
Units cancelled in period, weighted average grant date fair value	$ 1.02	$ 1.16
Number of units outstanding, end of period	1,911,434	1,243,530
Units outstanding, weighted average grant date fair value, end of period	$ 0.70	$ 1.19

SHARE CAPITAL - Loss per share

SHARE CAPITAL - Loss per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
SHARE CAPITAL
Income (loss) attributable to equity owners	$ (62,955)	$ 334	$ (91,022)
Weighted average number of shares (000's)		337,834	273,380
Earnings (loss) per share - basic		$ 0	$ (0.33)
Incremental shares from options		6,362
Weighted average diluted number of shares (000's)		344,196	273,380
Earnings (loss) per share - diluted		$ 0	$ (0.33)

SHARE CAPITAL - Additional Info

SHARE CAPITAL - Additional Information (Details) $ / shares in Units, $ in Thousands	Jun. 27, 2022shares	May 17, 2022shares	May 20, 2020USD ($)shares	Aug. 08, 2019USD ($)shares	Jul. 09, 2019USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)
Disclosure of classes of share capital [line items]
Expense from share-based payment transactions with employees						$ 238
At-the-Market Offering Agreement [Member]
Disclosure of classes of share capital [line items]
Number of shares issued | shares			40,250,000	23,000,000
Percentage of sale Of Stock					10.00%
Gross Proceeds From Issuing of Shares			$ 16,100	$ 17,300	$ 25,000
Share price.			0.40%	0.75%
Percentage of Commission Paid On Gross Proceeds			6	5
Proceeds from issuing shares			$ 14,700	$ 15,900
Omnibus Plan [Member]
Disclosure of classes of share capital [line items]
Duration in which options will cease to be exercisable							3 months
Omnibus Plan [Member] | Maximum
Disclosure of classes of share capital [line items]
Expiry duration							10 years
Plan 2016 [Member]
Disclosure of classes of share capital [line items]
Duration in which options will cease to be exercisable							90 days
Plan 2016 [Member] | Maximum
Disclosure of classes of share capital [line items]
Outstanding common stock (as a percentage)							10.00%
Expiry duration							5 years
Percentage limit an employee can own of outstanding shares							5.00%
Ordinary shares [member] | Omnibus Plan [Member] | Maximum
Disclosure of classes of share capital [line items]
Outstanding common stock (as a percentage)							8.00%
Preference shares [member]
Disclosure of classes of share capital [line items]
Number of shares issued | shares							0
Warrants [Member]
Disclosure of classes of share capital [line items]
Warrants, grants in period, exercise price | $ / shares							$ 1.317
Warrants issued | shares	3,428,032	6,321,965					9,749,727
Restricted Share Units and Deferred Share Units [Member]
Disclosure of classes of share capital [line items]
Expense from share-based payment transactions with employees							$ 1,400	$ 1,200
Performance Share Units [Member]
Disclosure of classes of share capital [line items]
Expense from share-based payment transactions with employees							$ 400	$ 0
Performance Share Units [Member] | Maximum
Disclosure of classes of share capital [line items]
Vesting period							3 years
Percentage Of Units Vested							200.00%
Performance Share Units [Member] | Minimum
Disclosure of classes of share capital [line items]
Percentage Of Units Vested							0.00%

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Disclosure of disaggregation of revenue from contracts with customers [line items]
Smelting and refining charges		$ (4,100)	$ (3,724)
Revenue from contracts with customers		260,348	198,205
Changes in fair value from provisional pricing		457	448
Total revenue	$ 132,974	260,805	198,653
Brazil
Disclosure of disaggregation of revenue from contracts with customers [line items]
Smelting and refining charges		(69)	(200)
Revenue from contracts with customers		223,690	153,397
Total revenue		223,690	153,397
MEXICO
Disclosure of disaggregation of revenue from contracts with customers [line items]
Smelting and refining charges		(4,031)	(3,524)
Revenue from contracts with customers		36,658	44,808
Changes in fair value from provisional pricing		457	448
Total revenue		37,115	45,256
Gold [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		236,113	170,228
Gold [Member] | Brazil
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		223,272	153,504
Gold [Member] | MEXICO
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		12,841	16,724
Silver [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		22,960	23,121
Silver [Member] | Brazil
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		487	93
Silver [Member] | MEXICO
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		22,473	23,028
Lead [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		2,180	3,617
Lead [Member] | MEXICO
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		2,180	3,617
Zinc [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		3,161	4,861
Zinc [Member] | MEXICO
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		3,161	4,861
Ore processing revenue
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		34	102
Ore processing revenue | MEXICO
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		$ 34	$ 102

REVENUE - Revenue by customer (

REVENUE - Revenue by customer (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	$ 132,974	$ 260,805	$ 198,653
Revenue from contracts with customers		260,348	198,205
Customers A [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		122,303
Customers B [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		64,426
Customers C [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		36,961	153,397
Customers D [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		21,281	2,549
Customers E [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		13,950
Customers F [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		(9)	18,445
Customers F Two [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		(110)	19,892
Customers G [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers			2,571
Customers G Two [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		1,969	1,697
Customers H [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers		$ 34	$ 102

REVENUE - Additional Informatio

REVENUE - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)customer	Dec. 31, 2019USD ($)customer
Disclosure of disaggregation of revenue from contracts with customers [line items]
Trade receivables	$ 2,011	$ 4,605
Revenue from performance obligations satisfied or partially satisfied in previous periods	$ 200
Customers with revenue contract | customer	5	3
Provisional Pricing [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Contract with Customer Liabilities Revenue Subject to Provisional Pricing	$ 2,500

PRODUCTION COSTS (Details)

PRODUCTION COSTS (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Disclosure of products and services [line items]
Production Cost Before Change In Inventories		$ 135,009	$ 147,115
Less: Change in inventories		1,624	10,022
Production Expenses	$ 99,547	136,633	157,137
Unabsorbed fixed costs		1,500
Raw Materials And Consumables [Member]
Disclosure of products and services [line items]
Production Cost Before Change In Inventories		51,826	58,046
Salaries And Employee Benefits [Member]
Disclosure of products and services [line items]
Production Cost Before Change In Inventories		16,321	17,403
Contractors [Member]
Disclosure of products and services [line items]
Production Cost Before Change In Inventories		55,315	58,952
Repairs And Maintenance [Member]
Disclosure of products and services [line items]
Production Cost Before Change In Inventories		1,171	801
Site Administration [Member]
Disclosure of products and services [line items]
Production Cost Before Change In Inventories		3,962	3,815
Royalties [Member]
Disclosure of products and services [line items]
Production Cost Before Change In Inventories		5,918	7,572
Mining Duties [Member]
Disclosure of products and services [line items]
Production Cost Before Change In Inventories		160	168
Share Based Compensation [Member]
Disclosure of products and services [line items]
Production Cost Before Change In Inventories		$ 336	$ 358

GENERAL AND ADMINISTRATIVE EX_3

GENERAL AND ADMINISTRATIVE EXPENSES (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Disclosure of products and services [line items]
Total selling, general and administrative expense	$ 8,574	$ 12,926	$ 17,557
Salaries And Employee Benefits [Member]
Disclosure of products and services [line items]
Total selling, general and administrative expense		4,042	5,617
Professional Fees [Member]
Disclosure of products and services [line items]
Total selling, general and administrative expense		1,674	1,707
Office And Other Expenses [Member]
Disclosure of products and services [line items]
Total selling, general and administrative expense		4,758	8,397
Amortization [Member]
Disclosure of products and services [line items]
Total selling, general and administrative expense		446	514
Share Based Compensation [Member]
Disclosure of products and services [line items]
Total selling, general and administrative expense		$ 2,006	$ 1,322

EXPLORATION AND EVALUATION EX_3

EXPLORATION AND EVALUATION EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of products and services [line items]
Total exploration, evaluation, and development expenses	$ 10,370	$ 12,787
Salaries And Employee Benefits [Member]
Disclosure of products and services [line items]
Total exploration, evaluation, and development expenses	2,223	2,878
Raw Materials And Consumables [Member]
Disclosure of products and services [line items]
Total exploration, evaluation, and development expenses	892	1,237
Professional Fees [Member]
Disclosure of products and services [line items]
Total exploration, evaluation, and development expenses	4,411	5,978
Office And Other Expenses [Member]
Disclosure of products and services [line items]
Total exploration, evaluation, and development expenses	2,724	2,648
Share Based Compensation [Member]
Disclosure of products and services [line items]
Total exploration, evaluation, and development expenses	$ 120	$ 46

IMPAIRMENT OF GOODWILL (Details

IMPAIRMENT OF GOODWILL (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2019
IMPAIRMENT OF GOODWILL
Impairment of goodwill	$ 38,682	$ 38,682

OTHER INCOME (EXPENSE) (Details

OTHER INCOME (EXPENSE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
OTHER INCOME (EXPENSE)
Accretion expense	$ (2,629)	$ (3,404)
Gain (loss) on derivative instruments	(27,980)	2,353
Foreign exchange loss	(16,397)	(3,852)
Other expense	(2,188)	(3,211)
Other income (expense)	$ (49,194)	$ (8,114)

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Line Items]
Current expense		$ 3,647	$ 562
Deferred tax expense (recovery):		144	182
Income tax expense	$ 891	3,791	744
Income tax [Member]
Income Taxes [Line Items]
Current expense		3,647	135
Deferred tax expense (recovery):		$ 144	78
Withholding tax [Member]
Income Taxes [Line Items]
Current expense			427
Deferred tax expense (recovery):			$ 104

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of effective rate (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
INCOME TAXES
Net income (loss) before tax		$ 4,125	$ (90,278)
Canadian statutory income tax rate		27.00%	27.00%
Anticipated income tax at statutory rate		$ 1,115	$ (24,181)
Permanent differences		(2,084)	11,750
Differences between Canadian and foreign tax rates		3,144	(3,035)
Change in estimate		1,668	53
Impact of foreign exchange on local currencies		2,739	3,087
Change in deferred tax assets not recognized		(2,451)	13,425
Other items		(340)	(355)
Income tax expense	$ 891	$ 3,791	$ 744
Effective tax rate		92.00%	(1.00%)

INCOME TAXES - Deferred income

INCOME TAXES - Deferred income tax assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
INCOME TAXES
Deferred income tax assets		$ 49
Deferred special mining duty asset (liabilities)		96
Total deferred income tax assets		145
Deferred income tax liabilities	$ (2,488)	(3,208)
Deferred withholding tax liabilities	(2,194)	(2,157)
Total deferred income tax liabilities	(4,682)	(5,365)
Net deferred income tax assets (liabilities)	$ (4,682)	$ (5,220)

INCOME TAXES - Temporary differ

INCOME TAXES - Temporary differences and tax losses (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Line Items]
Deferred income tax assets		$ 145
Deferred tax liabilities	$ (2,194)	(2,157)
Net deferred income tax liabilities	(4,682)	(5,220)
Tax losses carried forward
Income Taxes [Line Items]
Deferred income tax assets	18,968	19,394
Withholding tax liability [Member]
Income Taxes [Line Items]
Deferred tax liabilities	(2,194)	(2,157)
Mineral properties, plant and equipment
Income Taxes [Line Items]
Deferred tax liabilities	(20,298)	(24,557)
Other Taxable Temporary Differences [Member]
Income Taxes [Line Items]
Deferred tax liabilities	$ (1,158)	(220)
Other deductible temporary differences
Income Taxes [Line Items]
Deferred income tax assets		$ 2,320

INCOME TAXES - Losses expire (D

INCOME TAXES - Losses expire (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Line Items]
Deferred tax assets		$ 145
Noncapital Losses In Canada [Member]
Income Taxes [Line Items]
Deferred tax assets	$ 29,730	2,843
Noncapital Losses In Mexico [Member]
Income Taxes [Line Items]
Deferred tax assets	24,870	21,560
Noncapital Losses In Brazil [Member]
Income Taxes [Line Items]
Deferred tax assets	79,382	102,357
Noncapital Losses In Peru [Member]
Income Taxes [Line Items]
Deferred tax assets	$ 73,491	74,965
Capital losses in Canada [Member]
Income Taxes [Line Items]
Deferred tax assets		$ 1,171

INCOME TAXES - Unrecognized def

INCOME TAXES - Unrecognized deferred tax assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Line Items]
Unrecognized temporary differences	$ 368,496	$ 364,331
Tax losses carried forward
Income Taxes [Line Items]
Unused tax losses for which no deferred tax asset recognised	217,342	130,131
Mineral properties, plant and equipment
Income Taxes [Line Items]
Unused tax losses for which no deferred tax asset recognised	45,429	90,647
Other deductible temporary differences
Income Taxes [Line Items]
Unused tax losses for which no deferred tax asset recognised	$ 105,725	$ 143,553

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Company's Financial Instruments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of fair value measurement of assets [line items]
Cash and cash equivalents	$ 63,396,000	$ 36,970,000
Marketable securities	1,000
Trade receivables	2,011,000	4,605,000
Restricted cash	1,055,000
Trade payables and accrued liabilities	42,428,000
Derivative liabilities	2,974,000
Borrowings	33,398,000	42,693,000
Transfers out of Level 1 into Level 2 of fair value hierarchy, assets held at end of reporting period	0	0
Transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities held at end of reporting period	0	0
Transfers out of Level 2 into Level 1 of fair value hierarchy, assets held at end of reporting period	0	0
Transfers out of Level 2 into Level 1 of fair value hierarchy, liabilities held at end of reporting period	0	0
Transfers into Level 3 of fair value hierarchy, assets	0	0
Transfers into Level 3 of fair value hierarchy, liabilities	0	0
Transfers out of Level 3 of fair value hierarchy, assets	0	0
Transfers out of Level 3 of fair value hierarchy, liabilities	0	$ 0
Fair value through OCI
Disclosure of fair value measurement of assets [line items]
Cash and cash equivalents	0
Marketable securities	1,000
Trade receivables	0
Restricted cash	0
Trade payables and accrued liabilities	0
Derivative liabilities	0
Borrowings	0
Fair value through P&L
Disclosure of fair value measurement of assets [line items]
Cash and cash equivalents	0
Marketable securities	0
Trade receivables	0
Restricted cash	0
Trade payables and accrued liabilities	0
Derivative liabilities	2,974,000
Borrowings	0
Amortized cost
Disclosure of fair value measurement of assets [line items]
Cash and cash equivalents	63,396,000
Marketable securities	0
Trade receivables	2,011,000
Restricted cash	1,055,000
Trade payables and accrued liabilities	42,428,000
Derivative liabilities	0
Borrowings	$ 33,398,000

FINANCIAL RISK MANAGEMENT (Deta

FINANCIAL RISK MANAGEMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of risk management strategy related to hedge accounting [line items]
Trade accounts receivable and VAT	$ 2,011	$ 4,605
Not later than one month [member]
Disclosure of risk management strategy related to hedge accounting [line items]
Trade accounts receivable and VAT	1,343	4,121
Later than one month and not later than two months [member]
Disclosure of risk management strategy related to hedge accounting [line items]
Trade accounts receivable and VAT	400	389
Later than two months and not later than three months [member]
Disclosure of risk management strategy related to hedge accounting [line items]
Trade accounts receivable and VAT	142	150
Later than three months [member]
Disclosure of risk management strategy related to hedge accounting [line items]
Trade accounts receivable and VAT	$ 126	$ (55)

FINANCIAL RISK MANAGEMENT - Cha

FINANCIAL RISK MANAGEMENT - Change from prevailing exchange rates (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Disclosure of risk management strategy related to hedge accounting [line items]
Prevailing Exchange Rate	10.00%
Appreciation of the USD against the currency [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Confidence interval	10.00%
Appreciation of the USD against the currency [Member] | Canadian dollars per US dollar [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Change in net income due to depreciation	$ 68
Appreciation of the USD against the currency [Member] | Brazilian Real [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Change in net income due to depreciation	1,255
Appreciation of the USD against the currency [Member] | Australian Dollars [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Change in net income due to depreciation	(78)
Appreciation of the USD against the currency [Member] | Mexican pesos per US dollar [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Change in net income due to depreciation	(150)
Appreciation of the USD against the currency [Member] | Peruvian soles per US dollar [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Change in net income due to depreciation	$ 287
Depreciation of the USD against the currency [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Confidence interval	10.00%
Depreciation of the USD against the currency [Member] | Canadian dollars per US dollar [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Change in net income due to depreciation	$ (80)
Depreciation of the USD against the currency [Member] | Brazilian Real [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Change in net income due to depreciation	(1,222)
Depreciation of the USD against the currency [Member] | Australian Dollars [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Change in net income due to depreciation	78
Depreciation of the USD against the currency [Member] | Mexican pesos per US dollar [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Change in net income due to depreciation	157
Depreciation of the USD against the currency [Member] | Peruvian soles per US dollar [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Change in net income due to depreciation	$ (287)

FINANCIAL RISK MANAGEMENT - C_2

FINANCIAL RISK MANAGEMENT - Change in prevailing commodity prices (Details) - Commodity price risk [member] $ in Thousands	Dec. 31, 2020USD ($)
Silver [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Confidence interval	10.00%
Value at risk	$ 991
Gold [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Confidence interval	10.00%
Value at risk	$ 549
Lead [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Confidence interval	10.00%
Value at risk	$ 69
Zinc [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Confidence interval	10.00%
Value at risk	$ 153

FINANCIAL RISK MANAGEMENT - Add

FINANCIAL RISK MANAGEMENT - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019
Disclosure of risk management strategy related to hedge accounting [line items]
Proportion of advance payments of receivables	95.00%
Prevailing commodity prices	10.00%
Interest rate risk [member]
Disclosure of risk management strategy related to hedge accounting [line items]
Confidence interval	1.00%
Change in net income due to depreciation	$ 0.1
Maximum | Interest rate risk [member]
Disclosure of risk management strategy related to hedge accounting [line items]
Fixed financial instrument term	1 year
Canadian dollars per US dollar [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Closing foreign exchange rate	1.277	1.299
Brazilian Real [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Closing foreign exchange rate	5.197	4.031
Australian Dollars [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Closing foreign exchange rate	1.2981	1.423
Mexican Pesos [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Closing foreign exchange rate	19.935	18.876
Peruvian soles per US dollar [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Closing foreign exchange rate	3.621	3.319

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Dec. 31, 2020USD ($)
Disclosure of contingent liabilities [line items]
Capital commitments	$ 2,162
Less than one year
Disclosure of contingent liabilities [line items]
Capital commitments	2,162
Operating lease payments [Member]
Disclosure of contingent liabilities [line items]
Capital commitments	32
Operating lease payments [Member] | Less than one year
Disclosure of contingent liabilities [line items]
Capital commitments	32
Drilling services [Member]
Disclosure of contingent liabilities [line items]
Capital commitments	710
Drilling services [Member] | Less than one year
Disclosure of contingent liabilities [line items]
Capital commitments	710
Equipment purchases [Member]
Disclosure of contingent liabilities [line items]
Capital commitments	1,420
Equipment purchases [Member] | Less than one year
Disclosure of contingent liabilities [line items]
Capital commitments	$ 1,420

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) $ in Thousands, R$ in Millions	1 Months Ended			6 Months Ended	12 Months Ended
	Oct. 31, 2018BRL (R$)	Jan. 31, 2018BRL (R$)	Jan. 31, 2018USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2020BRL (R$)	Dec. 31, 2020USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of contingent liabilities [line items]
Judicial Deposit						$ 302		$ 389
Compensation to each defendant for collective nonpecuniary loss to Amapas citizens and Brazilians in general | R$					R$ 8.0
Collateral in the form of deposit to cover additional requirement of bond( as a percentage )					80.00%
Amount of additional bond requirement							$ 2,700
Increased portion of bond closure amount				$ 1,200
Total commitments of bond requirement						10,900
Fines and Sanctions [Member]
Disclosure of contingent liabilities [line items]
Reimbursement rights				1,500
Fines and sanctions which may be levied by OSINERGMIN [Member]
Disclosure of contingent liabilities [line items]
Reimbursement rights						1,300
Fines and sanctions to be levied by OEFA [Member]
Disclosure of contingent liabilities [line items]
Reimbursement rights						200
Certain civil lawsuits filed by individuals and former suppliers [Member]
Disclosure of contingent liabilities [line items]
Reimbursement rights						400
Various claims related to Brazil indirect taxes and labour matters [Member]
Disclosure of contingent liabilities [line items]
Other provisions						1,600
Escrow cash deposits						300		$ 400
Environmental damages [Member]
Disclosure of contingent liabilities [line items]
Interest and inflation to the State Environmental Fund		R$ 6.0	$ 1,100
Updated value of fine payable including interest and inflation					R$ 29.7	5,700
Cyanide Usage [Member]
Disclosure of contingent liabilities [line items]
Amount of fine payable excluding interest and inflation | R$	R$ 4.0
Cyanide Usage [Member] | Maximum
Disclosure of contingent liabilities [line items]
Period to stop usage of cyanide in production process	1 year
Nyrstar N. V. [Member]
Disclosure of contingent liabilities [line items]
Remediation bond agreement						6,500	7,000
Outstanding fines or sanctions settled				4,000
Remediation bond agreement						$ 6,500	$ 7,000
Nyrstar N. V. [Member] | Maximum
Disclosure of contingent liabilities [line items]
Outstanding fines or sanctions settled				$ 4,000

RELATED PARTY TRANSACTIONS - Ke

RELATED PARTY TRANSACTIONS - Key management compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
RELATED PARTY TRANSACTIONS
Salaries and benefits	$ 3,059	$ 1,674
Contract completion bonus - interim CEO	171
Directors fees	531	478
Termination benefits		658
Share-based compensation	1,935	1,227
Key management personnel compensation	$ 5,696	$ 4,037

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
RELATED PARTY TRANSACTIONS
Key management personnel compensation, contingent termination benefits	$ 3,400,000
Special committee fees	$ 0	$ 100,000

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION - Other non-cash items (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
SUPPLEMENTAL CASH FLOW INFORMATION
Accretion	$ 2,629	$ 3,404
Finance expense	3,981	5,752
Finance income	(347)	(726)
Loss on disposal of fixed assets	1	32
Other non-cash items	$ 6,264	$ 8,462

SUPPLEMENTAL CASH FLOW INFORM_4

SUPPLEMENTAL CASH FLOW INFORMATION - Non-cash investing and financing activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Notes to Financial Statements [Abstract]
Change in reclamation and remediation provision included within mineral properties, plant and equipment and exploration and evaluation assets	$ 13,943	$ 3,330
Change in lease liability related to right-of-use assets	890	4,498
Shares issued upon settlement of obligation	$ 39
Repayment of MACA borrowings by way of issuance of shares		$ 10,524

OPERATING SEGMENTS (Details)

OPERATING SEGMENTS (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019USD ($)	Dec. 31, 2020USD ($)segment	Dec. 31, 2019USD ($)
Disclosure of geographical areas [line items]
Number of operating segments | segment		3
Number of exploration segments | segment		1
Number of Coricancha segments | segment		1
Number of corporate segments | segment		1
External revenue	$ 132,974	$ 260,805	$ 198,653
Amortization and depletion		40,751	35,185
Exploration and evaluation expenses		10,370	12,787
Non-cash change in reclamation and remediation provision		41	9,752
Care and maintenance costs	599	693	795
Impairment of goodwill	38,682		38,682
Finance income		347	726
Finance expense/costs		3,981	5,752
Net income (loss) before income taxes	(62,064)	4,125	(90,278)
Income tax expense (recovery	891	3,791	744
Net income (loss)	$ (62,955)	334	(91,022)
Additions to non-current assets		56,781	34,889
Total assets		280,420	270,742
Total liabilities		168,717	170,243
Exploration, evaluation and development expenses [Member]
Disclosure of geographical areas [line items]
Exploration and evaluation expenses		10,370	12,787
Exploration [Member]
Disclosure of geographical areas [line items]
Amortization and depletion			4
Net income (loss) before income taxes		(667)	(264)
Net income (loss)		(667)	(264)
Total assets		2,126	2,159
Total liabilities		500
Exploration [Member] | Exploration, evaluation and development expenses [Member]
Disclosure of geographical areas [line items]
Exploration and evaluation expenses		187	176
Corporate One [Member]
Disclosure of geographical areas [line items]
External revenue		223,690	53,825
Amortization and depletion		258	245
Finance income		226	708
Finance expense/costs		1,196	9
Net income (loss) before income taxes		(31,899)	(3,785)
Income tax expense (recovery			531
Net income (loss)		(31,899)	(4,316)
Additions to non-current assets		43	821
Total assets		47,012	40,122
Total liabilities		18,801	15,116
Corporate One [Member] | Exploration, evaluation and development expenses [Member]
Disclosure of geographical areas [line items]
Exploration and evaluation expenses		651	7
Elimination of intersegment amounts [member] | Corporate One [Member]
Disclosure of geographical areas [line items]
External revenue		(210,623)	(49,818)
Tucano Gold Mine [Member]
Disclosure of geographical areas [line items]
External revenue			99,572
Amortization and depletion		35,986	30,816
Impairment of goodwill			38,682
Finance income		121	14
Finance expense/costs		2,597	5,741
Net income (loss) before income taxes		46,549	(66,473)
Income tax expense (recovery		3,751
Net income (loss)		42,798	(66,473)
Additions to non-current assets		42,109	28,593
Total assets		167,524	177,683
Total liabilities		87,304	107,354
Tucano Gold Mine [Member] | Exploration, evaluation and development expenses [Member]
Disclosure of geographical areas [line items]
Exploration and evaluation expenses		669	608
Tucano Gold Mine [Member] | Elimination of intersegment amounts [member]
Disclosure of geographical areas [line items]
External revenue		210,623	49,818
Guanajuato Mine Complex [Member]
Disclosure of geographical areas [line items]
External revenue		21,219	23,543
Amortization and depletion		1,564	1,436
Non-cash change in reclamation and remediation provision		41	6,829
Care and maintenance costs		693	795
Net income (loss) before income taxes		(2,621)	(7,436)
Income tax expense (recovery		26	122
Net income (loss)		(2,647)	(7,558)
Additions to non-current assets		4	317
Total assets		4,597	7,060
Total liabilities		16,535	15,772
Guanajuato Mine Complex [Member] | Exploration, evaluation and development expenses [Member]
Disclosure of geographical areas [line items]
Exploration and evaluation expenses		2,540	2,550
Topia Mine [Member]
Disclosure of geographical areas [line items]
External revenue		15,896	21,713
Amortization and depletion		2,745	2,431
Non-cash change in reclamation and remediation provision			2,923
Net income (loss) before income taxes		(734)	(2,796)
Income tax expense (recovery		14	91
Net income (loss)		(748)	(2,887)
Additions to non-current assets		3,794	3,963
Total assets		14,456	15,304
Total liabilities		2,244	2,445
Topia Mine [Member] | Exploration, evaluation and development expenses [Member]
Disclosure of geographical areas [line items]
Exploration and evaluation expenses		341	889
Coricancha Mining Complex [Member]
Disclosure of geographical areas [line items]
Amortization and depletion		198	253
Finance income			4
Finance expense/costs		188	2
Net income (loss) before income taxes		(6,503)	(9,524)
Net income (loss)		(6,503)	(9,524)
Additions to non-current assets		10,831	1,195
Total assets		44,705	28,414
Total liabilities		43,333	29,556
Coricancha Mining Complex [Member] | Exploration, evaluation and development expenses [Member]
Disclosure of geographical areas [line items]
Exploration and evaluation expenses		$ 5,982	$ 8,557