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SN3165 (< 20)

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October 05, 2012 – Comments (5) | RELATED TICKERS: PPP , BRD , CLGRF

Primero Mining shares soared today after news of a favorable tax ruling by Mexican authorities on their silver purchase agreement:

"Primero Mining Corp. ("Primero" or the "Company") (TSX:P)(NYSE:PPP) announced today that the Company's Mexican subsidiary has received a positive ruling from the Mexican tax authorities (Servicio de Administración Tributaria) on its Advance Pricing Agreement ("APA") filing made in October 2011. The ruling confirms that the Company's Mexican subsidiary appropriately records revenue and taxes from sales under the silver purchase agreement1 at realized prices rather than spot prices effective from August 6, 2010."

I sold all my shares at a big profit. No need to be greedy IMO. With the proceeds I bought some Cardero, Claude and Corvus Gold. 

Congrats to all those long Primero!

5 Comments – Post Your Own

#1) On October 05, 2012 at 12:12 PM, tdonb (44.15) wrote:

I am trimming too. I owe Sinch big. My warrants are up over 300%.

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#2) On October 05, 2012 at 12:33 PM, SN3165 (< 20) wrote:

I sold my warrants at .35 cents a while ago but held onto common stock. I can't remember why I did this... :-( 

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#3) On October 05, 2012 at 12:36 PM, SN3165 (< 20) wrote:

http://caps.fool.com/Blogs/picked-up-some-primero/663538

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#4) On October 05, 2012 at 12:45 PM, jwebbzor (< 20) wrote:

My shares also got stopped out when the stock temporarily dipped below $5 a few weeks ago. 

Not upset about it though, I have a stop-loss system in place so that I minimize my emotional trading.  

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#5) On October 05, 2012 at 8:26 PM, awallejr (82.72) wrote:

That tax overhang was the reason why I looked elsewhere.  Grats to you PPP longs and smart to book some profits.

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