Update: Primero Mining Updates Its Black Fox Reserve Estimates And Announces New Promising Drilling Results
- Primero Mining announced updated reserves data for its Black Fox Mine.
- It also announced positive drilling results that indicate that the resource can be expanded in the future.
- As I suggested my last article investors are pricing in a significant resource expansion at Black Fox, and that the stock should be avoided at (then) current levels.
- While I'm glad the company is finding new gold the current valuation is simply too high relative to the company's production potential, and I am avoiding the shares.