PI Financial Updates Buy Recommendation on Timmins Gold Corp - Video Posted on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - March 1, 2013) - Investment firm PI Financial has updated their buy recommendation on Timmins Gold (TSX: TMM) (NYSE-MKT: TGD). Following a visit to the San Francisco Mine in Sonora State, Mexico, analyst Philip Ker reiterated his buy recommendation, maintaining his $3.90 target price, a 73% premium to the $2.26 price the day the report was issued.
InvestmentPitch.com has produced a "video news alert" about Timmins Gold based on this research report. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Timmins" in the search box.
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San Francisco is Timmins Gold's flagship property and produced 94,444 ounces of gold in 2012 from its open-pit heap leach operation. Presently, management is aggressively expanding its crushing circuit in order to bring throughput up to 30,000 tonnes per annum, and begin targeting 125,000 to 130,000 ounces of gold production.
Current reserves are estimated at 1,300,000 ounces and the company aims to develop its past producing La Chicharra pit, which is located just 1.5 kilometres from the San Francisco mine.
Philip Ker stated, "We expect Timmins to achieve over 30% growth to its production profile in 2013 and delivery of successful operational results remain the key catalysts going forward."
Timmins currently trades at $2.35, and with 143 million shares outstanding, the company is capitalized at $336 million.
For more information about PI Financial or to obtain a copy of their research report, contact your nearest PI Financial office. Their branches are listed on their website at www.pifinancialcorp.com.
InvestmentPitch.com, a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investors and financial professionals, specializes in producing three minute videos based on news releases and research reports.
Barry Morgan, CFO