Derek Macpherson, M Partners (10/17/14) "Timmins Gold Corp. announced Q3/14 production. . .below our estimates largely due to substantial rainfall in the month of September, which resulted in power outages and limited access to the pit. The company produced 26,671 oz gold at a head grade of 0.5 g/t, which represents a 13% and 16% miss vs. our production and grade estimates, respectively. . .a one-time event and we would expect head grades in Q4/14 to be more in-line with our modeled grade of 0.6 g/t. . .we continue to expect positive full-year 2014 free cash flow. . .the company's next leg of near-term growth is likely to come via an acquisition."
Philip Ker, PI Financial (10/17/14) "Timmins Gold Corp. announced gold production of 26,671 oz for Q3/14. . .the operation continues to have above-average recovery rates, which realized 74% in Q3/14, beating our expectation of 68%. This has been a strong point for the company over 2014."
Joseph Fazzini, Dundee Capital Markets (10/17/14) "Pre-market, Timmins Gold Corp. announced its Q3/14 operational results and reported production of 27 Koz Au. . .with the company expected to remain one of few companies generating positive free cash flow in the currently weak gold price environment, we maintain our Buy rating and $2.25 target."
