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12/27/16

Primero Mining (PPP) (P.to) has fallen so far...

...that it's now getting stuffy letters from the NYSE:
"TORONTO, ON--(Marketwired - December 27, 2016) - Primero Mining Corp. ("Primero" or the "Company") (TSX:P.TO) (PPP) today announced that is has received formal notification from the New York Stock Exchange ("NYSE") of its non-compliance with the exchange's continued listing standards for minimum trading price."
Translation: The share price is under a dollar and if it stays there, the NYSE will de-list this dog*. Here's the funny thing, though. In order to regain compliance, PPP decided to write a nice letter to the NYSE and explain what it's going to do. The three point plan is (and I quote)...
  • Reducing costs and returning operations to industry-leading profitability as historically reported at its flagship San Dimas mine;
  • Delivering increased cash flow from its Black Fox mine with production focus on the high-grade Deep Central Zone;
  • Exploring and identifying high quality mineral resources in and around our current mines and projects.

...in other words, all the things it's abjectly failed to do for the last two or three years. Hey, maybe the NYSE should send out more letters to these pathetic mining companies run by self-serving mediocrities who try to pass themselves off as smart businessman. We may get a few more delivering bottom line profits that way.

*Don't let me stop you guys, sooner the better as far as I'm concerned.