Timmins Gold Corp. (TSX:TMM)(NYSE MKT:TGD) was among the best-performing gold stocks on the TSX Friday. The company reported preliminary production results for its Q2 ending June 30, 2016. Timmins achieved production of 25,863 gold ounces for the quarter. Timmins jumped 16% to a new 52-week high Friday on 5.22 million shares traded.
Timmins is up huge in 2016, from a low of $0.105 to a high today of $0.70.
Timmins Gold – 1 Year Chart
Mark Backens, Interim CEO commented, that “Given the current gold price the prospects to extend mine life at acceptable operating margins at San Francisco are good.”
Timmins also reported that:
“During the quarter the Company successfully repaid its secured debt to creditors Sprott Resource Lending Partnership and Goldcorp Inc. for $10.2 million and to the Lundin Group for C$2.0 million and thereby removing all security on our assets.”
Click here to read the entire press release.
Timmins and gold stock rise in July Stock Challenge
July’s Stock Challenge is being dominated by junior gold stocks, which are outperforming all other sectors in the market.
Pinnacle member ‘SOBARS’s selected Timmins Gold for July and saw his combined average return of 28.69%. SOBARS is sitting in 25th place overall.
Pinnacle member ‘BrotherJ‘ was leading second place ‘Rainendown’ by 12 points at the close of trading Friday.
BrotherJ, along with 3rd place ‘rayme’ have both selected First Mining Finance, which has been on an epic rally.
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