RE:Question
Hi XXXXX Whenever you do large acquisitions for shares you can expect a few shares to hit the market and it looks like that is what is happening. We are using the pilot phase to test our cost assumptions. If we didnt think we would be making money we wouldnt be making the test. Insiders are subject to a lot of blackout periods so it is difficult to buy or sell shares. I hope this answers your questions. Regards Bruce Bragagnolo, LLB | Chief Executive Officer Timmins Gold Corp. | Direct 604 638 8980 | Mobile 604 417 9517 Suite 1900 - 570 Granville Street | Vancouver, BC | V6C 3P1 From: XXXXX Sent: Thursday, July 9, 2015 12:48 PM To: Bruce Bragagnolo Cc: TimminsInfo Subject: TMM Underperformance compared to peers Hi Bruce / IR I do not understand why TMM share price has underperformed very badly for the past year compared to your peers ( If i had to guess it is probably to do with your New Strike acquisition and buying Caballo Blanco project) . Also regarding the last PR you put out for the underground pilot phase at San Francisco mine , instead of just saying There is no net cost budgeted for the pilot phase as the cost for the program is expected to be more than recouped by revenue derived from recovery of the gold contained in the bulk sample. why not put out a detailed cost report of the phase before starting work on it. When you do you plan on releasing detailed cost report based on today Gold trading price ?. Investors , Including myself, are very nervous when you use wording like that in a PR , it makes it look like your hiding the cost for the underground phase from us because you know it is higher than todays gold trading price. Lastly at such low prices why has there not been any insider buying of the stock but instead all I see is a heck of alot of options granted @ $0.76. I know those options cannot be exercised but why not buy stock instead on open market?. Your replies would be appreciated Thanks XXXXXXX