Primero Mining cuts 2016 production guidance

• Primero Mining (NYSE:PPP) -11.2% premarket after lowering its FY 2016 production guidance, as Q1 output came in at a lower than expected 36,158 gold equiv. oz. at preliminary all-in sustaining costs of $1,556/oz.
• PPP says the Q1 2016 production shortfall was caused by implementation of enhanced safety procedures at the San Dimas mine in Mexico, prompting a reduction in full-year production guidance to 230K-250K gold equiv. oz.
• PPP guides all-in sustaining costs at $975-$1,025/oz.
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