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Stock Market & Financial Investment News

News Breaks
December 13, 2012
08:11 EDTPPPPrimero Mining to acquire Cerro Del Gallo for about C$119M
Primero Mining announced that it has entered into a definitive agreement with Cerro Resources 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 will assume Cerro's interests in the Namiquipa, Espiritu Santo, Mt Philp and Kalman projects, shares in Syndicated Metals Limited and approximately $4M 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. Excluding the value of the Spinco exploration assets, the offer represents an implied 62% premium to Cerro's 20-day volume weighted average price and a 77% premium to the spot closing price at December 12. Upon completion of the Arrangement, existing Primero shareholders and Cerro shareholders will own approximately 85% and 15%, respectively, of the issued common shares of Primero. The total transaction value is approximately $119M.
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March 18, 2015
07:21 EDTPPPPrimero Mining reports discovery of high-grade vein at San Dimas mine
Primero Mining reported the discovery of a new high-grade vein intersected by existing infrastructure at its San Dimas mine located in Durango, Mexico. The vein's channel samples average 10.4 g/t gold and 1,606 g/t silver over 1.4 metres along 98 metres of exposed vein. Drilling has further defined the Victoria vein as two narrower veins, recent intercepts include 49.7 g/t gold and 270 g/t silver over 1.1 metres. The new discoveries at the mine have resulted in a steady increase in its gold reserves and also its average gold reserve grade, by 62% and 27%, respectively, since 2011. The location of the Jessica vein is also important as it is connected to existing infrastructure.
07:18 EDTPPPPrimero Mining expects 2015 production increasing to 175K-185K Aug eq oz
07:17 EDTPPPPrimero Mining reports 2014 year-end gold Mineral Reserves down 9%
Primero Mining announced 2014 year-end gold Mineral Reserves declined by 9% from 2013 to 1.9M ounces of gold, mainly as a result of higher cut-off grades applied at Black Fox and San Dimas, combined with the impact of previously disclosed decline in ounces in the Black Fox open-pit. Gold Mineral Reserve grade at its platform San Dimas mine in Mexico was up 4% to 5.7 g/t, while underground gold Mineral Reserve grade was up 19% in to 7.5 g/t at its Black Fox mine near Timmins, Ontario. Primero has increased 2014 year-end gold and silver Measured and Indicated Mineral Resources by 1% and 4%, respectively, over 2013 year-end to include 3.2M ounces of gold and 82.5M ounces of silver. The company's 2015 $19M exploration program is focused on delineation in the first half of the year. Assuming success, the company may approve additional exploration expenditures for 2H15. The 2015 exploration program currently comprises 130,000 metres of drilling and 1,350 metres of exploration drifting.

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