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Timmins Gold Corp. (TSX:TMM, NYSE:TGD) announced its Q1 results, including a record profit of $19.3 million.
Timmins Gold Corp. (TSX:TMM, NYSE:TGD) announced its Q1 results, including a record profit of $19.3 million.
As quoted in the press release:
Metal revenues were a record $45.9 million, compared to $35.7 million during the same prior year period. This represents a 29% increase over the prior year.
Timmins Gold’s CEO, Bruce Bragagnolo, said:
The cost reduction initiatives the Company initiated in 2012 are having a positive impact. We added a significant amount of cash to our balance sheet despite a relatively large capital spend during the quarter, mainly related to the infill drilling program which is almost completed. At current gold prices the Company expects to continue to materially add to its cash balance throughout the year.
To view the whole press release, click here.
