On site at present, Timmins Gold's mining and crushing operations are continuing with the available Komatsu shovel and six Caterpillar 100 ton trucks until the full mining fleet arrives. Over 100,000 metric tonnes of ore have been stacked on the heap leach pads and gold leaching has begun.
Expert Comments:
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Derek Macpherson, M Partners (3/10/15)
"Timmins Gold Corp. reported Q4/14 and full-year 2014 financials, which missed our and consensus estimates; however, this miss appears to be as a result of above average rainfalls in Q3/14, which impacted operations in Q4/14. . .should the company continue to underperform peers, we would view it as a buying opportunity, not only because of the apparent one-time nature of the Q4/14 miss, but also because of Timmins’ growth potential. Assuming the Newstrike acquisition is completed, we model Timmins producing 347 Koz in 2019 at total cash cost of $658/oz, once Caballo Blanco and Ana Paula are ramped up." |
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Canadian Mining Journal (3/10/15)
"Timmins Gold Corp. can't help but be pleased with a year that met guidance figures both on the number of ounces produced and the cash costs per ounce. In 2014 the company sold 121,441 oz gold (up 2.5%) and 85,252 oz silver (up 24.4%). . .drilling directly below the San Francisco pit identified multiple high-grade veins sub-parallel to the pit wall, extending along strike and open down dip below the pit and Timmins Gold's regional exploration program was successful in confirming areas for high-priority follow-up drilling." |
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Joseph Fazzini, Dundee Capital Markets (3/9/15)
"With the Caballo Blanco acquisition closing just prior to year-end, we expect Timmins Gold Corp. to end 2014 with $32M of cash. Including the $10M private placement to Sentry and Adolf Lundin estate completed in Q1/15, the company's balance sheet continues to strengthen; this cash has been earmarked for an optimization study and subsequent development of Caballo Blanco." |
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