Primero’s fall from grace accelerates on San Dimas ramp-up delay

Precious metals producer Primero Mining’s proverbial fall from grace is near complete with the company once more trading in penny stock territory since early September – a level last seen in 2009 and a far cry from its peak at C$8.89 a share in July 2014. The Toronto-based company’s NYSE- and TSX-listed equities have been on a steady downward spiral for several years, dogged by operational challenges at San Dimas, in Mexico, a tax dispute with Mexican authorities and concerns regarding the company's liquidity position.