Proactive investorsLogo Proactive Investors UK Website

Search field
Additional information
Additional Information
Market: TSX-V
Sector: Gold Mining
Epic: .TMM
News: Latest news
Web Site: Timmins Gold Corp
Other Articles: 29-01-201010-12-200907-12-2009

RSS - Subscribe to the News Today on Proactive UK ▼

Wednesday March 17, 09:01SmartFocus, Amphion Innovations and National Milk Records confirmed for March 18 Forum

The presentations will start at 6:00pm and finish at approx 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive AU ▼

Thursday March 18, 12:26Healthcare & Biotech companies to present at "Ultimate Healthcare & Biotechnology Event 2010”

We have a cracking line-up for March 24, as we return to Healthcare & Biotech sector at our One2One Investor Forum. Seats are limited, to avoid disappointment, register now.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive CN ▼

Monday March 15, 09:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

FULL ARTICLE ►
Timmins Gold Corp

Timmins Gold Corp

Timmins Gold Corp is engaged in the exploration and development of gold projects in Mexico. The company aspires to become a senior gold production and development company and has an aggressive development and acquisition plan to take the Company into production in late 2008. With a pre-feasibility report complete on its "flagship" San Francisco property in Sonora Mexico, Timmins is moving towards a minimum annual 80,000 ounces of gold production.

CLICK HERE FOR FULL ANLAYSIS OF TIMMINS GOLD CORP
Friday, January 29, 2010

Timmins Gold completes US$15 million financing with Sprott Asset Management

company news image

Timmins Gold (TSX-V: TMM) has closed its financing with Sprott Asset Management (TSX: SII), for US$15 million in Senior Secured Notes. Timmins Gold will use the additional capital to pay US$3.5 million in existing debt and to pay for existing equipment and general working capital for operations at Timmins Gold's San Francisco gold project in Sonora, Mexico.


Timmins will repay the capital in 12 equal monthly instalments starting in August, 2010. Each payment shall be equal to the value at the time of payment of 1,667 ounces of gold (20,004 ounces total). Timmins Gold has also guaranteed a minimum rate of return of 15% per annum.  Sprott Asset Management will also receive 3 million warrants with an exercise price of C$0.80 per share which can be exercised over a period of 2 years.


Timmins Gold is currently ramping up to full commercial production at the mine, which is a past-producing open pit heap leach operation from which Timmins Gold has projected production at a rate in excess of 80,000 oz of gold per year. Initial capital costs of mine development are estimated at US$33.8 million, sustaining capital costs at US$12.7 million for total cash operating costs of US$412 per oz of gold.


The San Francisco gold mine is situated on a 42,000 hectare land package. The mine’s total resource currently stands at 5.35 Mt (million tonnes) grading at 0.91 g/t (grams per tonne) of gold for 157,000 ounces in the measured category, 22.65 Mt grading 0.78 g/t gold for a total 560,000 ounces in the indicated category for a total measured and indicated resource of 0.72 million ounces. The inferred resource amounts to 2.51 Mt grading 0.79 g/t of gold for 63,500 ounces.

AddThis Feed Button
Register here to be notified of future Timmins Gold Corp articles.

Other Timmins Gold Corp articles


Other Timmins Gold Corp news

More news ►

Investors interested in Timmins Gold Corp recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.