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San Dimas mine transition to First Majestic doing well.
First Majestic news, July 16th, 2018
“The Company has increased its 2018 annual silver production to a new range of 12.0 to 13.2 million ounces, or 20.5 to 22.6 million silver equivalent ounces primarily due to the addition of the San Dimas Silver/Gold mine which was acquired on May 10, 2018. This compares to the previous annual production guidance of 10.6 to 11.8 million ounces of silver, or 15.7 to 17.5 million silver equivalent ounces.
“During the quarter, the integration of the newly acquired San Dimas mine into our Mexican portfolio was our primary focus,” said Keith Neumeyer, President & CEO. “The world-class San Dimas operation, which contributed only seven weeks of production in the second quarter, propelled the Company to a new quarterly production record of 5.1 million silver equivalent ounces and has become our cornerstone asset and will remain a major focus for the next several quarters as we optimize the operation. Short term, we are focused on reducing underground dilution and implementing mill automation processes, including the installation of high intensity grinding technologies in order to increase efficiencies and reduce production costs. In addition, under the new streaming agreement, we are going back to mine numerous high-grade silver veins that were previously deemed uneconomic by the previous operator. In 2018, all-in sustaining costs at San Dimas are projected to be between $6.99 to $8.19 per ounce, making it our lowest cost and our largest producing mine.”
— and —
“At the San Dimas Silver/Gold Mine:
* For the last seven weeks of the second quarter after acquiring San Dimas, the operation produced 808,923 ounces of silver and 11,348 ounces of gold for a total production of 1,698,382 silver equivalent ounces.
* The mill processed a total of 85,765 tonnes with average silver and gold grades of 307 g/t and 4.3 g/t, respectively.
* A total of 2,481 metres of underground development was completed in the second quarter.
* Six drill rigs completed 22 drill holes for a total of 10,522 metres of exploration drilling during the quarter with a primary focus around Santa Jessica, Santa Regina and Alexa veins in the Central block and Sinaloa Graben.”
Meant that basis for many recent Supreme Court decisions are poorly founded, and thus telegraph political intent, rather than law and precedent supported legal reasoning.
The Supreme court is suddenly political. Got to laugh at that. If it were not political there would not be reliably conservative and liberal justices. As I said before, unions have their place, but they seem to become abusive and do need to be limited. SanDimas was a good example of that.
Well, Supreme Court just made employer abuses easier here in the U.S. Top Court just sanctioned limitation to due process by trial, and counter to intent of law enacted by Congress. This, from a majority Supreme Court which claims its intent on interpreting the Constitution’s ‘original intent.’ Such hyprocracy from a Court? So, our Supreme Court taking political action. Weird times. Top Court ruining good name of United States rule of law and due process.
Unions are better than Nationalization. Yet Mexico well in pocket of U.S. Gangs not maintained by accident or inability to control. U.S. and other foreign investment (planatation) interests require such buffer.
" I would think it’s more than just the union as a factor" Again I repeat, it was not only the union, but the union was a large contributor. Unless the union is brought under control (work stappage, work slow downs, no shows,) no company is going to operate San Dimas at a profit. A total shut down and a taste of poverty could very well be the recipe to long term profitability. I do believe unions have a place, but they usually abuse then lose it.
PPPMF FINRA Deleted Symbol
http://otce.finra.org/DailyList
Plan of Arrangement. Shareholders of the Company will receive 0.03325 in First Majestic shares for each Primero share held
Looking forward to acquiring and holding my First Majestic shares too. I would think it’s more than just the union as a factor. Agree with Luc, the streaming crushed Primero, I think San Dimas will fly again.
Where did I say it had not been sold? You are correct that the Union was not the only problem, but it was the major problem that put the nail in Primeros coffin.
While the streaming agreement that FM has negotiated is better than the one Primero had it is still going to hurt. I like FM and will hold my shares.
What are you talking about? You don't have any clue! Primero has already been sold. A little more paper work and by the end of May we will receive shares of First Majestic Silver in exchange for our Primero shares!
San Dimas is a wold class mine! The biggest problem was not with the union but with WPM. The old streming contract forced Primero to give away nearly 35% of possible revenue and in the past they even were profitable despite the burden of one of the most awful streaming contract in the mining sector!
First Majestic has a new and way better streaming contract and San Dimas will become a real cash cow over the next 2 years!
And First Majestic has very good contacts to government and a good relationship to the local unions!
I expect AG to double within the next year with silver remainign in the 16-17 USD range. And if silver flies AG will skyrocket!
I don't have a lot of hope for the mine in Mexico. IMHO they will need to shut it down for a while and get the appetite for jobs back. The union there seems to think they deserve all the profits. Break them and then open the mine back up with only non union workers. The union is what destroyed Primero, (partially thanks to their appointment of a very weak CEO even though it vas very short term.)I was calling for his dismissal after a very short term.
And was on the-verge-of-bankruptcy, now acquired by First-Majestic-Silver.
$PPPMF Primero Mining Corp., a precious metals producer, engages in the acquisition, exploration, development, and operation of mineral resource properties in Canada and Mexico. The company primarily explores for gold and silver deposits. It holds interests in the San Dimas Mine and the Cerro del Gallo project located in Mexico; and the Black Fox mine and adjoining properties located in the Timmins mining district, Ontario, Canada. The company was formerly known as Mala Noche Resources Corp. and changed its name to Primero Mining Corp. in August 2010. Primero Mining Corp. is based in Toronto, Canada.
Primero Mining Corp. (PPPMF) on Tuesday reported a loss of $115.2 million in its fourth quarter.
https://finance.yahoo.com/news/primero-mining-reports-4q-loss-123338012.html
$PPPMF Primero Reports Q4 Revenue $34.8 Mln
Today is our last day as Primero. From tomorrow on we will be "First Majestic Silver" at an exchange rate of 1:0,03325!
I think it could take a few weeks for your broker to change the shares but it will happen when the deal will be finalized in todays shareholder meeting!
We win some and we lose some. The key is to win more then we lose.
$PPPMF Primero Mining Operations and Corporate Update
http://www.primeromining.com/English/investors/news/press-release-details/2017/Primero-Provides-an-Operations-and-Corporate-Update/default.aspx
Whats going on here in PPPMF??? Past / present / future ???
$PPPMF 8% Buy Rating by Barcharts. https://www.barchart.com/stocks/quotes/PPPMF/opinion
actually no it is not. do your dd. Primero to Hold Special Meeting of Shareholders and a Meeting of Debentureholders on March 13, 2018.
At the Shareholder Meeting, Shareholders will be asked to consider the proposed plan of arrangement whereby First Majestic Silver Corp. ("First Majestic") will acquire all of the outstanding shares of Primero pursuant to an arrangement agreement dated January 11, 2018 between Primero and First Majestic (the "Arrangement) as filed on SEDAR. Primero's Board of Directors unanimously recommends that Shareholders vote in favor of the proposed Transaction.
At the Debentureholder Meeting, the Debentureholders will be asked to consider the proposed amendment of the trust indenture dated February 9, 2015, between Primero and Computershare Trust Company of Canada, to accelerate the maturity date of the Primero Debentures to the next Business Day following the effective date of the Arrangement (the "Debenture Amendment"). Completion of the Arrangement is not conditional upon the approval of the Debenture Amendment.
Primero has prepared an information circular with respect to the Arrangement and the Debenture Amendment which will be mailed to Shareholders and Debentureholders of record as of February 9, 2018. The information circular will also be available on SEDAR (www.sedar.com) and the Primero website at www.primeromining.com.
I don't understand why you still care about Primero? PPPMF is already connected to AG!
Primero Mining Corp. $PPPMF 52-Week High 1.4900
Fibonacci 61.8% 0.9437
Fibonacci 50% 0.7750
Fibonacci 38.2% 0.6063
Last Price 0.17
$PPPMF Primero Mining on on Linkedin https://www.linkedin.com/company/primero-mining-corp
Primero Mining Corp. $PPPMF 52-Week High 1.4900
Fibonacci 61.8% 0.9437
Fibonacci 50% 0.7750
Fibonacci 38.2% 0.6063
Last Price 0.18
$PPPMF MACD Bullish Cross http://www.primeromining.com
I sold everything 21 to 22 and happy to see it gone. Still lost a lot overall, but got a big chunk back by avg down this time. It was always the chance of BK that kept me from buying more 7s and 8s than I did.
I think a paid pumper, still under contract, meeting his continuing obligation to keep pumping.
$PPPMF Overall Average: 72% Buy @ Barchart
https://www.barchart.com/stocks/quotes/PPPMF/opinion
It's Official: US Debt Finally Tops $20 Trillion, Jumps By $318 Billion In One Day
http://www.zerohedge.com/news/2017-09-11/its-official-us-debt-finally-tops-20-trillion-jumps-318-billion-one-day
Seems price of Primero now directly responsive and tied into price of First Majestic Silver. Primero share now equivalent to .03325 share of First Majestic. Who knows what Mazel Tov is thinking. Maybe he wants to sell his Primero shares, cannot find buyers, and is trying to ‘create’ (hype) a market?
“Under the terms of the Arrangement Agreement, all of Primero’s issued and outstanding common shares will be exchanged for First Majestic common shares on the basis of 0.03325 of a First Majestic common share for each Primero common share (the "Exchange Ratio").”
I’m content to wait for the conversion to own First Majestic.
Read the paragraph below! 30 cents is the most Primero will be worth!
The Exchange Ratio implies consideration of C$0.30 per Primero common share, based on the 20day volume weighted average price of the First Majestic common shares on the Toronto Stock Exchange (“TSX”) for the period ending January 10, 2018, representing a 200% premium to the weighted average price of Primero common shares on the TSX over the same period
Keith Neumeyer of First Majestic Silver recently said he sees the white metal reaching $130 per ounce. https://investingnews.com/daily/resource-investing/precious-metals-investing/silver-investing/silver-price-1000-per-ounce/
$PPPMF Beast Mode setting up for RUN! $$$$$$
I bashed all the time?? I’ve been long this stock for almost 3 years moron. And quit harassing me via private messages or I’ll report you. Also, you dont make any sense moron.
Driven by what substantially, or crypto hype?
the company has 40 million outstanding shares app. 50% of them held by insiders.. tiny float. it is up to you.. i believe it can run like FNMA from 22 cents to 5.40 dollars remember.
Yeah, was looking at NTQ.V, yet I would want to buy the entire (yesterday’s) daily volume. Difficult to enter and exit, not very liquid. I suppose average volume is higher. Also, if company so successful why is the market cap so low? Company seems to do niche projects which when completed are done without ongoing revenue.
it has. it is trading on Canadian exchange as well https://finance.google.ca/finance?q=CVE%3ANTQ&ei=ttJeWombBI3wjAHl-Y2gBA
$PPPMF Market Cap $44.879M
Thanks will watch, but ntq.v has no liquidity.
gapping up! nice to see some dollars
Lol, nothing wrong with dreaming.
$.60 coming $PPPMF Buy and HOLD
Sold 1/3 in case it falls through. I'm so upside down on this that there's little chance of getting it all back so just created a little cash to work with next week and will let the rest ride.
Nice, I have always liked First Majestic Silver.
PPPMF Primero gold mine made 300% since my call https://investorshub.advfn.com/boards/read_msg.aspx?message_id=134474566
THE NEXT ONE IS THIS
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=137628164
BOOOOOOOOOOOOOOOOOOOOOOOOMMMMMMMMMMMM
This is a great deal for every Primero shareholder who bought past 10th of August. You will get 0.22 USD per Primero share in First Majestic Silver shares and with San Dimas and the changed WPM Silver purchase agreement the shares of AG will double at least this year!
San Dimas is one of the biggest mines in Mexico and will now be very profitable again!
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