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PRIME MINING CORP (PRMNF) is a mining company focused on exploration and development projects in Mexico. The company's core business involves identifying and developing high-grade gold deposits with significant growth potential. With multiple active drill rigs at the Los Reyes site, PRIME MINING CORP aims to expand its mineral resources and advance its exploration activities to maximize shareholder value. PRIME MINING CORP is committed to maintaining the highest standards of safety, environmental stewardship, and community engagement in all its operations.
Prime Mining Corp. reported its operating and financial results for the year ended December 31, 2022, highlighting outstanding exploration efforts at its Los Reyes Gold-Silver Project in Mexico. The Company completed significant drilling, exceeding its plans, with an updated mineral resource estimate expected in May 2023. In Q4, Prime raised C$21 million through a private placement. Key financial data includes a loss of $27.4 million compared to $14.3 million the previous year, with a loss per share of $0.24. Total assets decreased to $38.1 million from $41.8 million, while cash reserves fell to $23.8 million. Despite the losses, the Company maintains a strong capital structure and a proactive approach towards ESG commitments, aiming to minimize environmental impacts and boost community engagement.
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