Thursday, May 3, 2012

Primero Mining Posts Solid 1Q

How this stock is still under $3 a share is beyond me.

First Quarter Highlights:
--  Improved Earnings and Cash Flow: Adjusted 
    net earnings of $18.8 million ($0.21 per share) 
    were improved from $1.6 million ($0.02 per share) in
    2011 and operating cash flow before working capital 
    changes increased to $21.3 million ($0.24 per share) 
    from outflows of $1.2 million (-$0.01 per share) in 2011; 
    prices to commence in May.
Cash Position Continues to Grow

 The Company's cash position increased to $86.3 million 
 at March 31, 2012(after paying the initial $9.4 million
 principal and interest payment on the promissory note held 
 by a subsidiary of Goldcorp Inc. in January) from the December 31, 
 2011 balance of $80.8 million. The Company continues to invest in organic 
 growth while building on its balance sheet strength 
Expecting big things from Joe Conway (formerly CEO of IAMGOLD) and Primero. 
I am long Primero(Quote - PPP). 

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