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Timmins Gold Now In Commercial Production
As of today, all the lucky Timmins Gold ( TMM.v, TMGOF ) share holders can celebrate the fact that Timmins Gold is now a commercial gold producer! I recommended Timmins Gold as one of my favorite penny mining stocks in my review, Timmins Gold Trading Card on 2/7/2010, when their share price was only $1.13. Today it has gone as high as $1.41, a ~25% increase! Don’t worry if you did not buy Timmins Gold back then because there is still plenty of room for their share price to appreciate substantially more from here. Also, I have several other junior gold stocks that should do just as good too.
If you have not checked out my review on Metanor, then you should. You can get Metanor at half the price of Timmins Gold and is probably one of the best junior mining companies out there. I have 4-5 new Junior Mining Stock Trading Card reviews coming up over the next week so stay tuned by joining my FREE newsletter and/or sign up for email updates.
Per the Timmins Gold press release below, they are still committed to delivering 80,000 ounces of gold in 2010 and estimating a cash cost of $412 per ounce average over the life of the mine. Timmins is currently exceeding mining through put. I told you these guys know what they are doing! I am still targeting a share price of $5.18.
The San Francisco openpit gold mine, in Mexico’s Sonora state, has achieved commercial production, which mining rates and process plant throughput now exceeding plans by almost 10%, mine owner Timmins Gold said on Thursday.
Timmins management is confident that the openpit heap-leach operation will achieve the forecast 80 000 oz/y of gold this year.
Average life of mine cash costs for San Francisco are estimated at around $412/oz. -TORONTO (miningweekly.com)
Timmins is still undervalued even at this price. They are in the process of extending the life of their mine and should announce and updated resource estimated from their current exploration activities in the near future. I am expecting Timmins to at least double their mine life. My congratulations to Timmins Gold for their hard work and near flawless execution.
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