Primero Mining Provides Resource Update; Shares Up 7%, But Off New 52-Week Top Hit Earlier

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Shares of Primero Mining Corp. ( PPP ) earlier hit a new 52-week high of $4.95, but are now trading slighlty below that level at $4.82 after the company reported contained gold in Probable Mineral Reserves of 584,000 ounces - an increase over year-end 2011 of 79,000 ounces (126,000 ounces before depletion). The increase in contained gold in Indicated Mineral Resources (which include Probable Mineral Reserves) was 17% to 678,000 ounces; and in Inferred Mineral Resources it was 23% to 866,000 ounces.

The company also reported contained silver in Probable Mineral Reserves of 34.7 million ounces, Indicated Mineral Resources of 40.6 million ounces and Inferred Mineral Resources of 67.5 million ounces.



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This article appears in: Investing , Commodities

Referenced Stocks: PPP

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