Key Developments: Primero Mining Corp (PPP)
5.12USD
24 May 2013
$-0.04 (-0.78%)
$5.16
$5.15
$5.29
$5.07
244,565
219,991
$7.98
$2.35
Latest Key Developments (Source: Significant Developments)
Primero Mining Corp Announces Closing of Cerro Del Gallo Acquisition
Primero Mining Corp announced the completion of the previously announced scheme of arrangement under the Australian Corporations Act 2001, whereby Primero has acquired all of the issued and outstanding ordinary shares of Cerro Resources NL. Cerro's principal asset is 69% of the feasibility stage Cerro del Gallo project, a gold-silver deposit with approximately 1.0 million ounces of gold equivalent and probable reserves and 2.3 million ounces of gold equivalent measured and indicated resources, located in the province of Guanajuato, Mexico. As of today, and including the 17,983,956 Primero common shares issued as consideration under the Arrangement to the former shareholders of Cerro, Primero has 115,419,578 common shares issued and outstanding. An additional 866,525 common shares have been reserved for issuance in connection with new Primero options issued to the former option holders of Cerro pursuant to the Arrangement. Full Article
Primero Mining Corp Announces Admission To ASX Official List
Primero Mining Corp announced that it was admitted to the Official List of ASX Limited May 23, 2013. Official quotation of the following securities will commence at 12:00 pm AEST on May 24, 2013. Full Article
Primero Mining Corp Reaffirms FY 2013 Production Guidance
Primero Mining Corp announced that production is expected to increase in fiscal 2013 by up to 17% to between 120,000 and 130,000 gold equivalent ounces. Full Article
Primero Mining Corp Issues FY 2013 Production Guidance; Issues Three Year Production Guidance
Primero Mining Corp announced that production is expected to increase again in fiscal 2013 by up to 17% to between 120,000 and 130,000 gold equivalent ounces. Three-year plan forecasts at least an 80% increase in production from fiscal 2012 to over 200,000 gold equivalent ounces, including production from Cerro Del Gallo, by the end of 2015. Full Article
Primero Mining Corp to Acquire Cerro Resources NL
Primero Mining Corp announced that it has entered into a definitive agreement with Cerro Resources NL whereby Primero will acquire all of the issued and outstanding common shares of Cerro by way of a scheme of arrangement under the Australian Corporations Act 2001. Under the terms of the Arrangement, each Cerro shareholder will receive 0.023 of a Primero common share ( for each Cerro common share held. Additionally Cerro shareholders will receive 80.01% of the common shares of a newly incorporated company (Spinco). Spinco will assume Cerro's interests in the Namiquipa, Espiritu Santo, Mt Philp and Kalman projects, shares in Syndicated Metals Limited and approximately $4 million in cash. Primero will purchase a 19.99% interest in Spinco with anti-dilution rights for two years. Primero will also be entitled to appoint a director to the Spinco board of directors. Full Article
Primero Mining Corp Sees FY 2012 Production Guidance At Mid To Low End Of Prior Range
Primero Mining Corp announced that it expects to achieve the mid to low end of its annual production guidance range of 110,000 to 120,000 gold equivalent ounces for fiscal 2012. Full Article
Primero Mining Corp Announces Secondary Offering by Goldcorp Inc.
Primero Mining Corp announced that it has entered into an engagement letter together with its shareholder Goldcorp Inc. (Goldcorp) and a syndicate of underwriters (the Underwriters). Pursuant to the engagement agreement, the Underwriters have agreed to purchase 8,422,460 common shares of Primero currently held by Goldcorp on a bought deal basis at an offering price of CAD5.25 per share. Goldcorp currently owns, as of the date hereof, 39,573,660 common shares of Primero representing in the aggregate 40.9% of the issued and outstanding common shares of Primero. After giving effect to this offering, Goldcorp will own 31,151,200 common shares of Primero, representing approximately 32.2% of the outstanding common shares of Primero. Primero will not receive any proceeds from this offering. All of the expenses of the offering will be paid by Goldcorp. The remaining 31,151,200 common shares of Primero held by Goldcorp upon completion of the offering will continue to be held by Goldcorp. Full Article
Primero Mining Corp. Announces Issuance Of Shares To Goldcorp In Payment For Convertible Note
Primero Mining Corp. announced that it issued 8,422,460 common shares of the Company to Goldcorp Inc. in payment for the $30 million principal of the convertible note held by Goldcorp. Immediately following the issuance, Goldcorp owned an aggregate of 39,573,660 common shares of Primero, representing approximately 41% of the issued and outstanding common shares of Primero (increased from approximately 35%). The 8,422,460 common shares of Primero were issued from treasury at a deemed price of $3.74 per share for an aggregate value of $30 million. Full Article
Primero Mining Corp. Raised FY 2012 Production Guidance
Primero Mining Corp. raised fiscal 2012 production guidance and expects annual production guidance increased to between 110,000 and 120,000 gold equivalent ounces. Full Article
Primero Mining Corp. Reaffirms FY 2012 Production Guidance
Primero Mining Corp. maintained its fiscal 2012 production guidance and expects to produce between 100,000 and 110,000 gold equivalent ounces, based on 80,000 to 90,000 ounces of gold and 4.5 to 5.0 million ounces of silver, with 500,000 to 750,000 ounces of silver expected to be sold at spot prices. Full Article
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