Primero Mining Reports 7% Decline In Q4 Gold Production

Primero Mining Corp (NYSE: PPP) reported around 7% drop in its quarterly gold production.

For the fourth quarter, Primero produced 23,100 ounces of gold equivalent, versus 24,800 ounces, in the year-ago period. Primero's full-year 2011 production surged around 2% to 102,224 ounces of gold equivalent.

Primero's average daily throughput climbed to 2,050 tonnes per day in the fourth quarter and 1,950 tonnes per day in 2011.

Primero projects to produce between 100,000 and 110,000 ounces of gold equivalent in 2012.

Primero Mining shares closed at $3.56 on Friday.