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Primero Mining: Motivated Sellers Trashing the Stock

|Includes:AUQ, Primero Mining Corp. New Ordinary Shares (PPP)

T+ 3 days following the termination of the PPP and NXG tie-up, selling pressure on PPP still continues. The question is always for how long. The volumes have been now more on the buying front with stock recovering in USD terms from the USD 3.50 levels to 3.64. Gold is having a good day, of course. This looks like it has bottomed out and is building solid support level. If not to say looking for some excuse to move up higher. The reasons for liking Primero Mining are the same as before. Great executive team, stable and improving balance sheet, producing gold/silver mine and organic growth potential. The 2H of 2011 is supposed to be a half year with unhedged output. All this should make the company appear increadibly cheap compared to some other mining outfits. So far the market seems to disagree. Time will tell how thus tug of war between bulls and bears will end. As Cramer would say, Bulls, Bears, People from Connecticut....

Stocks: PPP, AUQ