Gold Production in Mexico
Targeting 2013 annual production of 118,000 ounces of gold
Message: rec'd a personal call from Bruce (C.E.O.)
rec'd a personal call from Bruce
6/16/2011 7:35:22 PM | | 179 reads | Post #29866624
clarity : 
Bruce called me by phone at 12AM today from Zurich. He was extremely forthright in answering questions i had posted to him in an email 3 weeks ago. I am impressed that he followed up by telephone, and that he does answer all inquiries personally when such are directed to him.
Currently, the company has 9 drills on the property, and will have completed 20000 meters of drilling this month. Another drill is arriving next month, and the plan is is drill drill drill right through to December. Strategy is to get all categories of reserves/resources firmed up to 2 - 2.5 million ounces level. Current mine life is 5 years. After this year's drilling campaign, he forecasts a mine life, (at an annual processing rate of 130,000 gold ounces per year), to be extended well past 10 years of activity.
Sprott Investment is the lender of preference. The $15,000.000 facility loan TMM entered into this spring is being deployed on an aggressive on-going drilling campaign, and for rapid completion of the expanded ore crusher capabilities at San Fran. The company will be continuing to expand its crusher capacity at San Francisco Mine so that it can mine at the rate of 130000 gold ounces per year ( approximately 11,000 gold ounces per month).
The company confirms that Pacific Roads Capital is selling its TMM shares, and TMM management is actively prospecting new institutional buyers to absorb them. Hence the current road trip to Europe. Bruce is currently in Zurich, Switzerland. He is very positive about this turn of events. He's certainly in the right neighborhood to talk about gold investment with prospective precious metals funds, as that place is the capital of the European precious metals investment industry and home to some very heavy-duty investment fund entities.
A listing on a US stock exchange he anticipates will occur "in approximately 3 weeks", which will be good, as currently some US investors cannot invest outside of the USA. Bruce believes that this will attract new institutionals and private investors who hitherto have not considered Timmins due to its singular listing in Toronto.
With respect to the "gold" dividend, Bruce affirms that he intends to issue it "in physical form". The anticipated dividend, he advises, will be at the gold equivalent value of approximately 10 cents per share, (or $15,000,000 in bullion to paid out to the shareholders). Having heard this from Bruce himself, I am confident that we will see this dividend in 2012. They are actively making arrangements so that the "physical gold dividend" will be delivered as such. This is fantastic news! .... and in my opinion based on what I have seen of this management team's past performance, I am convinced that it will indeed happen!
An updated, expanded mining plan will be also forthcoming "at the end of the year, in November or December".
There you go, folks. I heard it "from the horse's mouth." Incidentally, Bruce had a chuckle over some of my "hoot hoot" posts, some of which he thought were well thought out. I encouraged him to have his friend Eric Sprott take a peek at my early posts. Hopefully he will find them amusing. Who knows? he might even follow my suggestion and buy the company (this last bit of course is only speculation on my part, but i still think he should!)
For the record, this was the first time that I have had the pleasure to speak directly with Bruce. My first impression of this TMM executive is that he is very much the real deal. Soft spoken - doesn't exaggerate his estimates, is very methodical, and is an intelligent team player. I give Timmins Gold two thumbs up. The channel of communications between TMM management and this shareholder has been is excellent!
Recommendation: Firmly hold onto what TMM stock you have got, and increase your position if such tickles your fancy. As a long term investment vehicle which is committed to issuing a dividend next year, to be paid out in physical gold, I'd say that this company is grossly undervalued at CDN $2.25. Its a great time to accumulate.
And of course, as always, do your due diligence. It's your money, not mine!
Cheers to all,
HootHoot!
Currently, the company has 9 drills on the property, and will have completed 20000 meters of drilling this month. Another drill is arriving next month, and the plan is is drill drill drill right through to December. Strategy is to get all categories of reserves/resources firmed up to 2 - 2.5 million ounces level. Current mine life is 5 years. After this year's drilling campaign, he forecasts a mine life, (at an annual processing rate of 130,000 gold ounces per year), to be extended well past 10 years of activity.
Sprott Investment is the lender of preference. The $15,000.000 facility loan TMM entered into this spring is being deployed on an aggressive on-going drilling campaign, and for rapid completion of the expanded ore crusher capabilities at San Fran. The company will be continuing to expand its crusher capacity at San Francisco Mine so that it can mine at the rate of 130000 gold ounces per year ( approximately 11,000 gold ounces per month).
The company confirms that Pacific Roads Capital is selling its TMM shares, and TMM management is actively prospecting new institutional buyers to absorb them. Hence the current road trip to Europe. Bruce is currently in Zurich, Switzerland. He is very positive about this turn of events. He's certainly in the right neighborhood to talk about gold investment with prospective precious metals funds, as that place is the capital of the European precious metals investment industry and home to some very heavy-duty investment fund entities.
A listing on a US stock exchange he anticipates will occur "in approximately 3 weeks", which will be good, as currently some US investors cannot invest outside of the USA. Bruce believes that this will attract new institutionals and private investors who hitherto have not considered Timmins due to its singular listing in Toronto.
With respect to the "gold" dividend, Bruce affirms that he intends to issue it "in physical form". The anticipated dividend, he advises, will be at the gold equivalent value of approximately 10 cents per share, (or $15,000,000 in bullion to paid out to the shareholders). Having heard this from Bruce himself, I am confident that we will see this dividend in 2012. They are actively making arrangements so that the "physical gold dividend" will be delivered as such. This is fantastic news! .... and in my opinion based on what I have seen of this management team's past performance, I am convinced that it will indeed happen!
An updated, expanded mining plan will be also forthcoming "at the end of the year, in November or December".
There you go, folks. I heard it "from the horse's mouth." Incidentally, Bruce had a chuckle over some of my "hoot hoot" posts, some of which he thought were well thought out. I encouraged him to have his friend Eric Sprott take a peek at my early posts. Hopefully he will find them amusing. Who knows? he might even follow my suggestion and buy the company (this last bit of course is only speculation on my part, but i still think he should!)
For the record, this was the first time that I have had the pleasure to speak directly with Bruce. My first impression of this TMM executive is that he is very much the real deal. Soft spoken - doesn't exaggerate his estimates, is very methodical, and is an intelligent team player. I give Timmins Gold two thumbs up. The channel of communications between TMM management and this shareholder has been is excellent!
Recommendation: Firmly hold onto what TMM stock you have got, and increase your position if such tickles your fancy. As a long term investment vehicle which is committed to issuing a dividend next year, to be paid out in physical gold, I'd say that this company is grossly undervalued at CDN $2.25. Its a great time to accumulate.
And of course, as always, do your due diligence. It's your money, not mine!
Cheers to all,
HootHoot!
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