Dallas, Texas 03/21/2014 (FINANCIALSTRENDS) – Primero Mining Corp (NYSE:PPP) has reported that the silver mining company has now completed the target it had set itself for production of the precious metal for this year.
Primero Mining Corp (NYSE:PPP) had proposed to produced 3.5M oz of silver over the year. Now this has been possible at the San Dimas mine, a site it acquired back in 2012. Later negotiations have meant that the company has now been able to participate in the silver purchase agreement.
Therefore, Primero Mining Corp (NYSE:PPP) will now be able to begin selling nearly half the quantity it has produced during the year. The company hopes to be using the spot prices, until August 5.
Financial Status
Primero Mining Corp (NYSE:PPP) currently holds a market cap of $1.19 billion. The company holds 52 week trading high of $8.18 and $4.06 low on the prices of its shares. It’s EPS is -0.04.
Primero Mining Corp(NYSE:PPP) is currently housed in Vancouver, Canada. However, this mining company has been successful in mining across the borders, by holding stakes in mines located in Mexico. The core area of operations for the mining company is the precious metals division. This is typically across both the continents of America and it has since been operating as well developing projects in these regions.
Primero Mining Corp (NYSE:PPP) productive San Dimas site, which is currently providing the revenue earnings for the company, is located in Mexico, specifically in Durango state. The massive area of this site, spread over 3 underground operations includes Tayoltita, Santa Rita which are considered to be the Central Blocks. Additionally, Primero Mining Corp is known to hold over 28 mining concession in other sites. The highlight for the company in this quarter is the purchase of Brigus Gold Corp.
It now remains a matter of time, before PPP begins to leverage Brigus Gold Corp much like the San Dimas site.
