08:14:01 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Primero Mining Corp
Symbol P
Shares Issued 188,361,137
Close 2016-12-23 C$ 0.98
Market Cap C$ 184,593,914
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Primero receives non-compliance notice from NYSE

2016-12-28 07:16 ET - News Release

Mr. Evan Young reports

PRIMERO RECEIVES NYSE NOTICE

Primero Mining Corp. has received formal notification from the New York Stock Exchange of its non-compliance with the exchange's continued listing standards for minimum trading price.

Primero has formally replied to the NYSE notification with the company's intention to restore compliance to the minimum share price criteria within the prescribed time frame. Primero expects to achieve recompliance by delivering on a number of key strategic and operational initiatives, which include, but are not limited to:

  • Reducing costs and returning operations to industry-leading profitability as historically reported at its flagship San Dimas mine;
  • Delivering increased cash flow from its Black Fox mine with production focus on the high-grade deep central zone;
  • Exploring and identifying high-quality mineral resources in and around the company's current mines and projects.

Primero is currently in compliance with all other NYSE continued listing standards. The NYSE notice does not affect the company's normal business operations or the listing of its common shares, which will continue to trade on the NYSE under the symbol PPP. The NYSE will assign the stock a BC designation to signify that the company is below criteria with regard to the NYSE continued listing standards.

The company will continue to actively monitor its NYSE share price and evaluate all available options to cure this deficiency within the prescribed six-month time frame.

About Primero

Primero Mining owns 100 per cent of the San Dimas gold-silver mine and the Cerro del Gallo gold-silver-copper development project in Mexico and 100 per cent of the Black Fox mine and adjoining properties in the township of Black River-Matheson near Timmins, Ont., Canada.

We seek Safe Harbor.

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