19:18:24 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Primero Mining Corp
Symbol P
Shares Issued 162,434,155
Close 2015-08-05 C$ 3.19
Market Cap C$ 518,164,954
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Primero receives Mexican import, export permits

2015-08-06 07:34 ET - News Release

Ms. Tamara Brown reports

PRIMERO ANNOUNCES RECEIPT OF MEXICAN IMPORT AND EXPORT PERMITS; INVENTORIED SILVER BEING SOLD IMMEDIATELY

Primero Mining Corp. has been reinstated to the import and export registries in Mexico. Normal course imports and exports have resumed for its San Dimas mine located in Durango state, Mexico.

As of yesterday evening, Primero's wholly owned subsidiary Primero Empresa Minera SA de CV has been reinstated to the Mexican customs registry, and the company has commenced selling all inventoried silver. This includes approximately 2.0 million ounces, composed of 1.2 million ounces to be delivered under its silver purchase agreement with Silver Wheaton Corp. and 800,000 ounces to be sold into the spot market. The proceeds from the silver sales will be recorded as third-quarter revenue for the company.

PEM's import and export licences were suspended by the Mexican customs authorities in May, 2015, due to a discrepancy over the company's address related to its corporate office relocation from Mexico City to Durango, Mexico. The company was able to source necessary supplies locally so that the San Dimas mine and mill continued to operate uninterrupted.

We seek Safe Harbor.

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