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Timmins Gold (TSX: TMM) Corporate Update from PI Financial

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PI Financial has issued a corporate update on Timmins Gold, which trades of the Toronto Stock Exchange, under the symbol TMM. Following a visit to the San Francisco Mine in Sonora State, Mexico, analyst Philip Ker reiterated his buy recommendation.

Additional Information:

Company: Timmins Gold
Website: http://www.timminsgold.com
Stock Symbol: TSX: TMM
Date Published: Mar 20, 2013
Transcript: Available

Video Transcript:

I’m Megan Edwards for InvestmentPitch.com

PI Financial has issued a corporate update on Timmins Gold, which trades of the Toronto Stock Exchange, under the symbol TMM.

Following a visit to the San Francisco Mine in Sonora State, Mexico, analyst Philip Ker reiterated his buy recommendation, maintaining his $3.90 target price, a 73% premium to the $2.26 price the day the report was issued.

San Francisco is Timmins Gold’s flagship property and produced 94,444 ounces of gold in 2012 from its open-pit heap leach operation.

Presently, management is aggressively expanding its crushing circuit in order to bring throughput up to 30,000 tonnes per day, and begin targeting 125,000 to 130,000 ounces of gold production.

Current reserves are estimated at 1,300,000 ounces and the company aims to develop its past producing La Chicharra pit, which is located just 1.5 kilometres from the San Francisco mine.

Philip Ker stated, “We expect Timmins to achieve over 30% growth to its production profile in 2013 and delivery of successful operational results remain the key catalysts going forward.”

Timmins currently trades at $2.35, and with 143 million shares outstanding, the company is capitalized at $336 million.

For more information please visit the company’s website www.timminsgold.com, or contact the company’s CEO, Bruce Bragagnolo at 604-638-8980 or email bruce@timminsgold.com.

For more information about PI Financial or to obtain a copy of their research report, contact your nearest PI Financial office. Their branches are listed on their website at www.pifinancialcorp.com.

I’m Megan Edwards for InvestmentPitch.com
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This video is for information purposes only and it is not a recommendation to buy or sell any securities.