TMM's at a glance
I spoke to Leyton, TMM's PR man. I asked him if there were any news pending, and he said that there would be news release sometime next week and also some new drill results. The $15 million dollar fund from sprott management will be in their possession shortly.
The correction on the price of gold bullion puts some stings on big gold companies but our Timmins Gold is very resilient as its cost to produce an ounce of gold is only $400. Even at the price of $1000 an ounce, their cash out of 80,000 ounces in only 1 year of production from Sonora Mexico amounts to $80,000,000. For a small company like TMM with only 140 million shares outstanding, this is going to be very attractive company for many investors and in my opinion vould be a target for take overs by many gold companies such as Barrick, or Kinross (Jmho).
Good luck every one, hopefully we will all be rewarded for our patience hanging on.