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Primero Mining reported a first-quarter loss of $7.8 million, or 9 cents a share, as a result of a tax bill it had to pay after silver prices shot higher. Primero reported a $7-million profit in the previous quarter.
CEO Joe Conway talks to BNN about the tax bill and what the company is doing about it moving forward.
“We effectively get taxed on the spot price, as opposed to the realized price,” he says.