Primero Mining on Track to Meet Full-year Guidance

Primero Mining Corp. (TSX:P,NYSE:PPP) released its operational and financial results for Q3, commenting that it’s on track to meet its consolidated production guidance for the year of 250,000 to 270,000 gold equivalent ounces.
For the quarter, gold output came to 68,620 gold equivalent ounces, up 15 percent from the year-ago period.
Other Q3 highlights include:

• Cash Costs and All-In Sustaining Cost Guidance Lowered: Cash costs² of $577 per gold equivalent ounce and all-in sustaining costs³ of $775per ounce are both below reduced annual guidance of $640 to $680 per gold equivalent ounce and $1,030 to $1,060 per ounce, respectively.

• San Dimas Continues to Excel: San Dimas produced 49,566 gold equivalent ounces (33,623 ounces of gold and 1.90 million ounces of silver) at extremely low all-in sustaining costs of $454 per ounce. The Company has increased the San Dimas 2015 production guidance to 180,000 to 190,000 gold equivalent ounces at significantly reduced all-in sustaining costs expected in the range of $740 to $770 per ounce.

• Black Fox Maintains Cost Control: Black Fox mill throughput averaged above 2,500 tonnes per day (“TPD”), generating gold production of 19,054 ounces at all-in sustaining costs of $1,000 per ounce. The Company has updated the Black Fox 2015 production guidance to 70,000 to 80,000 ounces at unchanged all-in sustaining costs of $1,150 to $1,200 per ounce.

• Operating Cash Flow Remains Strong: Third quarter operating cash flow before changes in working capital⁴ was $20.1 million ($0.12 per share). Adjusted net income⁵ was $0.2 million ($0.00 per share), compared with adjusted net income of $6.7 million ($0.04 per share) for Q3 2014.

Click here to read the full Primero Mining Corp. (TSX:P,NYSE:PPP) press release.