Primero Mining sees FY13 production up 17% to 120K-130K gold equivalent ounces Production is expected to ramp-up at the end of Q1 when the current maximum milling capacity of 2,150 TPD is achieved. Cash costs for 2013 are expected to be in the range of $620-$640 per gold equivalent ounce or between $280-$300 per gold ounce on a by-product basis, similar to or below 2012 cash costs. Capital expenditures during 2013 are expected to be approximately $42M excluding capitalized exploration costs. Underground development capital and sustaining capital remain at similar levels to 2012. Underground development in 2013 will again be focused in the main mining, Central Block and Sinaloa Graben, blocks. In 2013 the majority of the ore is anticipated to come from the Central Block with approximately 30% from the higher-grade Sinaloa Graben block.
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