The Financial Post reports in its Saturday edition that doubling down on Primero Mining is a bad idea. Post columnist Peter Hodson writes that the mining business is always tough, but poor Primero's stock is down 73 per cent in the past year. Its problems stem from high production costs (partly due to a strike) and lower production guidance. Cash flow has dropped fairly steeply in the past few years, and there is still $46-million in debt and $30-million in decommissioning liabilities. With its market cap down to $120-million, it is hard to see this one rallying without a giant spike in the gold price. Mr. Hodson says that generally it is a bad idea to average down on a losing investment. Just because you were wrong when you bought a stock at $50 per share does not make you right by buying it at $25 per share. Now, your stock "only" has to go to $37.50, not $50, for you to break even. It hardly ever works this way. Typically, your loser company continues to lose, and with a larger position in a losing investment, selling the loser -- always a difficult thing for most investors -- is even more difficult. Primero closed Friday at 61 cents, down one cent on the Toronto Stock Exchange.