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Primero finalises Cerro del Gallo development project sale to Argonaut

Creamer Media Deputy Editor: North America
Precious metals producer Primero Mining has completed the sale of its development asset, the Cerro del Gallo mine, in Guanajuato state, Mexico, to fellow Canadian miner Argonaut Gold. Under terms of the transaction, Toronto-headquartered Primero pocketed $15-million in cash, which it advised on Monday will be put towards permanently reducing the outstanding balance on the company's revolving credit facility (RCF), which at quarter-end September stood at $77-million.

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