Brian Szeto, Stonecap Securities (10/26/12) "We continue to maintain an Outperform rating and a $3.70 target price on Timmins Gold Corp. . .expansion ramp-up at the San Francisco mine is continuing where management expects to ramp up to a rate of 22 Ktpd during Q4/12 and +30 Ktpd by early 2013 (i.e., in line with our expectations). . .once the company has achieved a steady state level of production at +30 Ktpd, we should see production reaching the 130 Koz/year mark on an ongoing basis."

Stuart McDougall, Casimir Capital (10/24/12) "Timmins Gold Corp. produced 69,888 oz in the first nine months of 2012 and expects to produce another 30 Koz in Q4/12, partly reflecting increased throughput rates. . .we forecast production to increase to approximately 111 Koz in 2013 and to 117.5 Koz in 2014, reflecting increased throughput rates, net of lower grades. . .we are maintaining our Strong Buy recommendation. . . in our view, management has done an excellent job at addressing operational issues faced over the past year, as evidenced by the record quarterly production set in Q3/12."