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Timmins Gold Corp. (TSX:TMM) reported a record amount of gold production for the third quarter in 2012. The company produced 25,153 ounces of gold for the Q3 fiscal quarter ended September 30, 2012.
Timmins Gold Corp. (TSX:TMM) reported a record amount of gold production for the third quarter in 2012. The company produced 25,153 ounces of gold for the Q3 fiscal quarter ended September 30, 2012.
As quoted in the press release:
During Q3 2012 a total of 40,490 ounces of gold were placed on the heap leach pads, compared to 35,282 ounces of gold in Q3 2011, a 14.76% increase. Gold produced during Q3 2012 reached 25,153 ounces, compared to 16,917 ounces in Q3 2011, an increase of 48.69% and 23,203 ounces in the previous quarter (Q2 2012), an 8.4% increase. The number of gold ounces placed on the pads is scheduled to increase during the rest of the year as the mine continues its expansion. Timmins Gold maintains its production target of 100,000 ounces of gold during 2012.
Bruce Bragagnolo, CEO of Timmins Gold Corp. stated:
We would like to congratulate our President Arturo Bonillas and his operating team for achieving our target of 25,000 ounces for the quarter. The strong operating quarter was the result of a number of incremental process improvements. Completion of Stage 2 of our crusher expansion is expected to take us to over 22,000 t/d in Q4, and crushing capacity is scheduled to reach over 30,000 t/d early in 2013 as we continue with our expansion program. We continue to fund all of our operations, expansion and drilling from existing cash flows, and we believe that we are well positioned to continue realizing current gold prices, generating strong margins and increasing cash flow from operations.
Click here to view the press release.
