Opinions
Jon Case
Primero Mining Corp
P-T
PAST TOP PICK
Jul 26, 2016
$2.870
Stock price when the opinion was issued
Mining
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Almost went bankrupt. They are trying to get an electronic version for the rail lines. Had high debts and were burning a lot of cash. Were losing money on their first 2 projects. Recently found some financing with convertible debts from Teachers. Needs to see some contracts being signed.
transportation equip & components
DON'T BUY
Changing power systems of rail changers. Technology has been good but weren't able to make any profits. Have been selling at a loss. Trying to restructure and now that they have a financing in place they possibly can be more successful in getting sales. Would like to see some sales ramp up.
transportation equip & components
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(A Top Pick June 17/15. Down 45.95%.) A gold/silver producer in Mexico. A difficult story. Great cash costs and you have a fantastic mine, but they made an acquisition in the Black Fox mine in Ontario, which has not worked out as expected. Also. there has been a CEO transition that was unexpected. More importantly there has been a tax agreement in Mexico and the Government said they had to pay a tax on silver on the spot market, not on what they actually received. Feels the risk/reward is favourable.