PRIMERO MINING CORP. is a Canadian-based precious metals producer with operations in Mexico. The Company is focused on building a portfolio of high quality, low cost precious metals assets in the Americas through acquiring, exploring, developing and operating mineral resource properties. Primero currently has one producing property, the San Dimas Mine, located in Mexico’s San Dimas district, on the border of Durango and Sinaloa states, and one exploration property, Ventanas, located in Durango state, Mexico.
San Dimas is historically one of the richest precious metals deposits in Mexico, being located in the central part of the Sierra Madre Occidental. The mine has already produced approximately 11 million ounces of gold and 580 million ounces of silver.
Upon the acquisition of the San Dimas mine, Primero assumed the obligation to sell silver at below market prices according to a silver purchase agreement. Silver sales under the silver purchase agreement realize approximately $4 per ounce.
Primero intends to transition from being a single-asset gold producer to becoming an intermediate gold producer. The San Dimas Mine is an established property with a long operating history and a record of Mineral Reserve replacement, Mineral Resource conversion and exploration success. Primero is focused on optimizing the San Dimas mine and, if appropriate, making further acquisitions of precious metal properties in the Americas.