Timmins Gold's Mexican mine production goes up
(Reuters) - Canadian miner Timmins Gold Corp TMM.TO posted a sequential rise in production at its San Francisco open pit gold mine in Mexico for yet another quarter.
The Vancouver-based Timmins said the mine produced 13,415 tons of ore processed per day in January-March, up from 13,282 tons a day in October-December. The mine had started commercial production last April.
The Mexico-focused miner sold 18,755 ounces of gold in the quarter, and about 65,774 ounces of gold in the year ended March 31.
The company also said the mine's crushing capacity would be raised to 18,000 tons of ore per day with the completion of a new crushing module in July.
Timmins has estimated a production rate in excess of 100,000 ounces of gold per year from the San Francisco mine at a life-of-mine cash cost of about $489 per ounce.
Shares of Timmins closed at C$2.51 on Tuesday on the Toronto Stock Exchange.
(Reporting by Arnika Thakur in Bangalore; Editing by Don Sebastian)