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Timmins Gold (TSX:TMM)(NYSE MKT:TGD) (“Timmins Gold” or the “Company”) is pleased to report preliminary production results from its 100% owned San Francisco Mine in Sonora, Mexico for the Company’s first quarter (“Q1”) ended March 31, 2017. All results are presented in United States dollars (“US Dollars”) unless otherwise stated. As quoted in the press release: …
Timmins Gold (TSX:TMM)(NYSE MKT:TGD) (“Timmins Gold” or the “Company”) is pleased to report preliminary production results from its 100% owned San Francisco Mine in Sonora, Mexico for the Company’s first quarter (“Q1”) ended March 31, 2017. All results are presented in United States dollars (“US Dollars”) unless otherwise stated.
As quoted in the press release:
Commenting on the quarterly performance, Chief Executive Officer, Greg McCunn, said, “The San Francisco mine had a very strong first quarter of the year with gold production ahead of guidance due to operational improvements made in the crushing and leaching circuit resulting in better gold recovery and the initiation of a project to recover gold from a previously closed leach pad. While these improvements are expected to allow us to achieve the upper end of our annual guidance of 70,000 to 75,000 ounces for 2017, we are continuing to re-engineer our life-of-mine plan for San Francisco and expect to publish the updated plan this quarter. We are excited about the potential to improve upon the existing plan for 2018 to 2022.
Our balance sheet continued to strengthen with cash increasing by $5 million across the quarter to approximately $39 million at March 31st. We continue to invest the bulk of the cash flow from operations into advancing our high-grade, low cost Ana Paula Project in Guerrero, Mexico. With infill drilling and metallurgical testing largely complete, we anticipate a Pre-Feasibility Study with an updated Mineral Resource Estimate to be published this quarter.”
