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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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January 20, 2015
07:16 EDTPPPPrimero Mining sees FY15 production up 20% over FY14
In 2015 Primero expects to increase production to between 250,000-270,000 gold equivalent ounces, up to 20% higher than 2014, due to increased production from both San Dimas and Black Fox. Cash costs for 2015 are expected to be in the range of $650-$700 per gold equivalent ounce, or between $1,000-$1,100 per ounce on an all-in sustaining cost basis.
07:15 EDTPPPPrimero Mining reports preliminary Q4 production 62,200 gold equivalent oz
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