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Company News

BRIEF-Primero reports Q2 adjusted loss per share $0.02

Aug 10 (Reuters) - Primero Mining Corp:

* Primero reports second quarter 2017 results

* Q2 adjusted loss per share $0.02

* Q2 earnings per share view $-0.02 -- Thomson Reuters I/B/E/S

* Remains on track to achieve 2017 production guidance of between 50,000 and 60,000 ounces of gold from Black Fox

* San Dimas capital plan for 2017 has been re-evaluated and scaled back by $17.7 million to $33.4 million

* Qtrly total production of 35,965 gold equivalent ounces, 27% lower than 49,499 gold equivalent ounces produced in Q2 2016

* Will continue to advance discussions with financiers to extend or refinance $75 million rcf due in november 2017

* Consolidated Q2 2017 total cash costs were $852 per gold equivalent ounce, with consolidated aisc of $1,262 per gold ounce

* Primero mining corp qtrly revenues $16.2 million versus $42.6 million

* Net loss incurred in q2 2017 includes a $285.0 million impairment of company’s assets

* Reduction in 2017 planned exploration, development spending may affect co’s ability to achieve expected production levels from san dimas operations in future yrs

* All-in sustaining costs are now expected to be between $900 and $1,050 per ounce in 2017 from san dimas operations

* May not be able to fully repay debt obligations under rcf without obtaining an extension, or additional source of debt/equity financing

* Reduction in 2017 planned exploration & development spending may “affect” ability to achieve expected production levels from san dimas operations in future yrs

* Primero mining corp qtrly diluted loss per share from continuing operations $1.39 Source text for Eikon: Further company coverage:

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