Primero Announces Sale of Cerro Del Gallo Project






Primero Mining Corp. (TSX: P) today announced that the Company has entered into an agreement with Argonaut Gold Inc. (TSX: AR) to sell its Cerro del Gallo development project located in the state of Guanajuato in central Mexico.



Under the terms of the Agreement, Argonaut will acquire all of the issued and outstanding shares of San Anton Resource Corporation, the indirect owner of the Project, from Primero. In exchange, Primero will receive consideration of $15 million in cash.



Primero expects to use the proceeds from the Transaction to reduce the Company’s total outstanding debt position. The Transaction is subject to customary closing conditions and is expected to close by the end of this month. Scotiabank acted as financial advisor to Primero.



About Primero



Primero Mining Corp. is a Canadian-based precious metals producer that owns 100% of the San Dimas gold-silver mine and the Cerro del Gallo gold-silver-copper development project in Mexico.


Posted November 14, 2017


Newrange Gold Closes First Tranche of Private Placement, Engages Renmark Financial Communications


March 16, 2018

American Manganese Inc. Discusses Artillery Peak Manganese Opportunities

Larry W. Reaugh, President and Chief Executive Officer of America... READ MORE

March 16, 2018

Bankers Cobalt Makes Near-Surface High Grade Copper and Cobalt Discovery at Kabolela

Bankers Cobalt Corp. (TSX-V:BANC) is pleased to announce results ... READ MORE

March 16, 2018

Stina Closes Final Tranche of $3 Million Financing

Stina Resources Ltd. (CSE: SQA) (OTCQB: STNUF) is pleased to anno... READ MORE

March 15, 2018

Blackrock Gold Closes Over-Subscribed Financing

Blackrock Gold Corporation (TSX-V: BRC) is pleased to announce th... READ MORE

March 15, 2018

Copyright 2018 The Prospector News - Site design by Spyderbaby Productions