cerro now primero, page-7

Ok so bit of info on Primero here with these analysts targetting an SP of between $8.75 and $10 Canadian

http://www.theaureport.com/pub/co/3159

Expert Analysis
Rob Chang, Cantor Fitzgerald (11/15/12) "We are initiating coverage of Primero Mining Corp. with a Buy recommendation and an $8.95/share target price. We believe that the company is an undervalued gold producer as it plans to increase production to 2,500 tpd, or by 28%, by Q1/14. . .since its initial public offering in August 2010, Primero has consistently delivered growth."

Michael Gray, Macquarie Capital Markets (11/9/12) "Primero Mining Corp. received a ruling in favor of paying taxes based on realized as opposed to spot prices. . .we believe there is room for further appreciation in the share price due to the positive ruling and strong balance sheet. . .we maintain our Outperform rating and $8.75 target price. With the company's expansion plans and recent tax ruling, Primero is well positioned as a low-cost Mexican producer that could acquire a second asset for a potential rerating."

Barry Allan, Mackie Research Capital (11/9/12) "We continue to anticipate a better grade profile for Primero Mining Corp. in Q4/12 and into 2013, allowing quarterly production of ~35 Koz. We see Q3/12 as an unfortunate speed bump on an otherwise good 2012 path. . .cost performance was actually good. . .on a dollar per tonne [basis], processed operating costs continued to be flat QOQ. . .post Q3/12, the company realized a huge win on income tax with a Mexican ruling that taxes may be paid based on realized silver prices—the impact was the disappearance of a $56M contingent liability. . .we maintain our Buy recommendation."

Richard Gray, Cormark Securities (11/9/12) "As a prerequisite to Primero Mining Corp.'s San Dimas mine and mill expansion, an optimization program was initiated in Q3/12 to expand throughput to the current milling capacity of 2,150 tpd exclusively through productivity improvements. Since its initiation, this program has successfully increased average throughput rates from 1,915 tpd in Q2/12 to 1,950 tpd in Q3/12 and 2,180 tpd in October, an encouraging sign for Q4/12 production from the mine. . .we are maintaining our Buy rating and CA$10 target price."

David Haughton, BMO Capital Markets (11/8/12) "Primero Mining Corp. reported Q3/12 adjusted EPS of US$0.10 (excl. stock options), in line with BMO Research expectations. . .we forecast [2012] production of 88 Koz gold and 5.1 Moz silver at US$638/oz. . .Primero is rated Outperform. The target price was increased to CA$9 based on the improved NPV estimate and P/NPV target of 1.0x. . .the focus on mining efficiency and improved geological understanding of the area is expected to support a relatively low-cost expansion and extended mine life at San Dimas."