Primero rallies despite cost concern; lowers guidance

The New York-listed stock of Canadian precious metals producer Primero Mining has rallied by some 18% Wednesday morning after the company reported first-quarter operating and financial results, and provided 2017 guidance for the first time this year. The company’s flagship San Dimas mine, in Mexico, produced 123 000 oz of gold equivalent (GEO), impacted in the quarter by a 45-day shutdown on the back of a labour strike at site that was resolved on April 13, after which the company initiated a phased restart of the operation.