Primero Mining Reports Q4, FY16 Production Within Own Guidance

Primero Mining Corp, a precious metals producer with operations in both Mexico and Canada, said Wednesday preliminary Q4 and full-year operating results matched its previously provided guidance.

The company said that for Q4, its production was 45,794 gold equivalent ounces, which in turn resulted in annual 2016 production of 176,139 gold equivalent ounces. The latter is within the company’s revised production guidance range of 170,000 to 190,000 gold equivalent ounces.

Annual production totaled 156,052 ounces of gold and 5.3 million ounces of silver from the San Dimas and Black Fox mines. Preliminary 2016 consolidated total cash costs are expected to be $865 per gold equivalent ounce, and preliminary consolidated all-in sustaining costs including corporate G&A are expected to be $1,326 per gold ounce.

The company said that it has streamlined its operations, focusing on productivity improvements, right-sizing of operations, and strong adherence to mine plans. Furthermore, the company is implementing broad cost-control measures at both mines in 2017.

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