May 4, 2016 / 11:07 AM / in a year

BRIEF-Primero Mining Corp says Q1 gold equivalent produced 36,158 ounces

May 4 (Reuters) - Primero Mining Corp

* Primero reports first quarter 2016 financial results; San Dimas production rates returned to plan in April

* San Dimas and Black Fox Mines production on-track to achieve revised guidance

* “will continue to invest millions of dollars in local Mexican economy”

* Qtrly gold equivalent produced 36,158 ounces versus 61,073 ounces

* Believes that it is entitled to rely on APA which is legally binding in respect of company’s 2010 through 2014 taxation years

* Qtrly silver produced 0.92 million ounces versus 1.93 million ounces

* Q1 earnings per share view $-0.08 -- Thomson Reuters I/B/E/S

* Qtrly earnings impacted by temporary production delay

* Realized a net loss of $13.2 million ($0.08 per share) and adjusted net loss 1 of $7.8 million ($0.05 per share) in Q1 2016

* Generated $50.5 million of revenue in Q1 2016, 31 pct lower than in Q1 2015

* Filed procedural and substantive responses to legal claim against its advance pricing agreement with Mexican tax authorities

* Legal claim initiated does not identify any different basis for paying taxes, nor have any tax reassessments been received from sat

* Will continue to “vigorously defend” validity of APA in Mexico and its tax filing position Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)

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