Latest analyst comments...Philip Ker, Union Securities (11/24/11) "With the recent increase to Timmins Gold's reserves in its September 43-101, the author has established a new mine plan for San Francisco and outlined additional crushing expansion to 32,000tpd from its current nameplate capacity of 18,000tpd. . .we believe additional throughput expansion and increased recoveries are attainable, and indicate the company is on track to becoming a 130,000 oz/year producer. Further upside to production exists should the adjustments to the flow rates and irrigation system on the leach pads aid in recovering additional gold from inventory, as well as any expansion to process additional La Chicharra ore. . .we are anticipating stronger recoveries and continued growth from Timmins."
Marc Johnson, M Partners (11/24/11) "Timmins Gold Corp. released its updated mine plan for San Francisco. . .which details an expansion of the crushing and heap-leaching capacity as of mid-2012 to 25 Ktpd and increasing to 32 Ktpd by Q113; the mine plan anticipates production of 128 Koz gold in 2012 and averaging 146 Koz/year gold from 2013–2016. . .net cash flow is anticipated to increase substantially in 2012. . .after deducting capital and exploration cost estimates for 2012, this could result in cash flow of $10–50M."
Tara Hassan, National Bank Financial (11/23/11) "Timmins Gold Corp.'s updated mine plan supports an increased reserve and resource estimate. . .with more than 100,000m of drilling, updated operating cost estimates and an expansion plan in mind, the company has revised its mine plan reflecting a proposed operation that is much larger than we currently model. . .a major component of the updated mine plan is an expansion of the daily throughput, which will see Timmins potentially boost annual production in the range of 130–150 Koz Au, up from its previous mine plan that saw production max out slightly above 100 Koz Au annually. . .the proposed expansion and our expectation for an expanded reserve could boost our net asset value by 5–10%."