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Primero Mining (PPP) ( G&A: gold fittings in the staff washrooms

Primero (PPP) ( reported this morning and all you need to know about its crappy quarter is that you can't find the real net earnings number anywhere in the spindoctor NR (they lost $6.744m, for the record).

However, IKN zeroes in on a subset of figures at P, its G&A numbers:

When it dipped to under U$100/oz AuEq in 4q14 I thought the company might have been serious about cutting costs instead of just paying lip service, but the last two quarters have thrown that naive thought out the window:

These are unjustifiably big numbers for any mining company in 2015, let alone one that's making a loss.