Why Great Panther Mining Stock Tanked 14% at the Open Today

Shares of Great Panther Mining Limited (NYSEMKT: GPL) fell right out of the gate on Tuesday, dropping as much as 14% in the first hour of the trading day. Based on a news update from the company, the drop appears warranted. 

Before the market opened today, Great Panther provided an update on development efforts at its Tucano asset, a wholly owned mining operation in Brazil. Simplifying things a little bit, heavier-than-normal rains impacted mine slope stability in a portion of the mine. For safety reasons the company has halted activity at some of its operations in the area. The company is working to resolve the issue.  

Image source: Getty Images.

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Source Fool.com