Primero rises despite reserves dropping 5%

March 16, 2016

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Precious metals producer Primero Mining has high-graded its Black Fox mine,, located in the Timmins gold camp of Northern Ontario, resulting in a 5% decrease in the company’s consolidated reserve statement as at the end of 2015, compared with a year earlier.
NYSE- and TSX-listed Primero advised on Wednesday that it had applied an increased cut-off grade to Black Fox reserves to account for expected operating expenditures and required sustaining costs that led to the removal of marginal, high all-in cost ounces from the mine plan.

Category: General