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I agree with you. It can fall from favor on the NYSE just as well as on any other market. Yes they could always boomerang the shareholders by doing another round of dilution after the reverse split sometime down the road.
I agree! These small miner companies is like playing with lit firecrackers.
They already did a dilution last year to finance the second project. Unless there is a 3rd project in the works, I think they are trying to get a wider audience.
I foresee the R/S and being listed in the NYSE as a positive. Management will let that rise enough so that if they do dilute, they will be comfortably above the $3 target.
The share price lost 20% of the value when they offered 10% more shares. At a minimum, they will have to wait until they reach $5 before they consider any dilution.
Personally, I would rather pay $1-2 for a tranche than the $10-20 that I have done when I bought that tranche of 5000 shares a while back.
It was headed upwards again until the R/S was announced. There was resistance in the .43 - .44 range... but as more news progressed on the new project, I'm sure it would've broke out. This was short-lived though and now we will never know.
I never "hope" in management. The fundamental of looking at management team is a good practice, but hope - remember they will always do best for the corporation. They want a higher shareprice because they look good... but they already have their money from the last stock offering.
I think other's will start buying again. There very well could be an R/S, positive news, and a skyrocket. Then those investors miss the good entry point. If management is smart... they'll play it this way IF they want to maximize their ability to finance more via stock in the future.
This is where the risk factor comes into play. It may not play out like that.
I get that... but it's still crappy timing in many ways.
Their shares are being hammered enough on worries from the R/S and also the potential dilution afterwards.
They should've gave it more time... and their shares could've organically made it over $1 after the 2nd project started.
Now they can R/S, dilute, and still be over the NYSE threshold... but at the cost to current investors. If their shares die down enough... the R/S will be wasted... and POTENTIALLY be under the threshold again due to future dilution.
Here are the NYSE listing requirements .39 cents won't do it they need a reverse split. As stated in their news release they are moving to the NYSE.
http://venturelawcorp.com/nyse-mkt-listing-requirements/
Management has the closest view of their situation so I will hope they know what they are doing on the R/S. Maybe they fell it is time to really this the stock moving onward and upwards. Looks to be it has been down for a while going back and worth with little increase.
Long TGD
Your right about one thing. The reverse split makes no sense. Unless shareholders have been mislead. Why a reverse split? To make more shares forthcoming for a financing? The TGD board has no confidence in the present share price building to a greater value on their present business platform? Why would the board be so eager to reverse split? 10 to 1 does not build to the value of a $5 share price. Just to keep from looking like a penny stock?
I'm in too... unfortunately, bought at the wrong time... lol. Wasn't expecting the "maybe" R/S.
I have a retraction figure in my mind to pull out if necessary... long until then.
R/S doesn't make total sense for the current level and with the negative attention R/S brings. Another stock I'm in is doing the same the. It's just bad timing.
You actually did the right thing for the time being. I could not agree with you more for the moment. I also had to bail. Very disappointed even though I made a great profit.
I like TGD and started a position. It looks like they have plans to change from small time to big city league. More profits, more PPS. I am in.
Long TGD
That is the question? Who knows! Not to forget the maybes.
I do not recall a company not getting their reverse split when on the table.
It will need volume for that to happen
I bailed yesterday, I can't sway from my rule
No R/S's for me, they have not treated me well in the past
But can be good on the big boards, albeit rarely IMO
GLTA
Right now at 10 to 1 it would be $4.
I think institutional investors require $5.
So hypothetically would need another 25%.
Who knows by mid-May we may already be at .50
About 25% more, but the other way would have been 1250%
10 to 1 will not make TGD a $5 stock. What am I missing?
The reverse split is needed to move them to the NYSE.
" If approved, the Company expects to begin trading on both the TSX and the NYSE MKT under the ticker ALO on Tuesday, May 16, 2017."
Hopefully they must think business is good and getting better to stay on the NYSE.
A price rise to $5 and institutions start buying.
Hopefully this is where a reverse split turns out beneficial to share holders.
GDXJ, don't think so, right?
http://www.zerohedge.com/news/2017-04-19/real-message-gdxj-mess
Of course it may not be the final list. Maybe they await the name change and or R/S
Long TGD
Reverse splits are just accounting tricks. Usually a crap company who consistently loses value will reverse split to keep their share price from dropping to an unacceptably low price.
I don't think TGD represents a crap company. They've consistently hit +20% profit on their revenue, and are expanding a new project.
The fear is that they will raise new capital by diluting the shares as they did a few months ago, but that would happen regardless.
Simply, I just hate to pay $10-20 for a tranche of TGD when I could have just paid $1 or 2. I couldn't care for the name change or R/S.
I'm hopeful they will be included in the GDXJ rebalancing or at least garner some attention from it.
Also, The R/S hasn't been approved yet. It's up for consideration. So the decline is a bit pre-mature. However, prices already take into account all factors IMO.
Once they start moving forward on the new Ana Mine... There is a good change this is going to jump.
You're welcome. It was bad timing imo.
Comment opinions are a tad mixed in this seeking alpha article... some see it as positive ... some negative:
https://seekingalpha.com/news/3257692-timmins-gold-proposes-name-change-alio-gold
I normally have negative experiences with R/S... but I've seen others that have been beneficial. I haven't studied enough to see if x% of R/S experience a PPS fade afterwards. It's just been my experience of all R/S to drop after.
I'm long at the moment.
Thanks, BLUE
GL here and to everyone else, but I am out now
Will keep watch, but I do not stick around for R/S's and am kind of confused as to why they would kill any positive MOMO
If I am wrong and it was a shake tactic oh well, I have been confused and disappointed with this company
$TGD
Let me try again... I think the trailing / caused the issue.
SEC link:
https://www.sec.gov/Archives/edgar/data/1502154/000106299317001933/exhibit99-1.htm
Thanks!
Damn though, I hate R/S's ugh
Might have to bail out
Not sure why they would do that, I was so tempted to sell around .44 because TGD continues to disappoint me
$TGD
That link does not work and I cannot find any R/S or share consolidation info
You guys BSing????
$TGD
They just posted the Form 6-k... the information is confirmed.
https://www.sec.gov/Archives/edgar/data/1502154/000106299317001933/exhibit99-1.htm/
Not entirely happy about the 10:1 proposal. Not sure they would need to do that with their new project opening up soon.
Interesting... nothing yet on Seeking Alpha. Schwab news from MT Newswire and Briefing.com didn't mention the consolidation of shares. Granted they are voting on it... but so far, this site is the only to list the potential consolidation - junior mining network.
Let me help - important information for investors - :
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/896-tsx/tmm/31371-timmins-gold-to-change-name-to-alio-gold.html
"Timmins Gold to Change Name to Alio Gold
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 18, 2017) - Timmins Gold Corp. (TSX:TMM)(NYSE MKT:TGD) ("Timmins Gold" or the "Company") announces that it is proposing to change its name to Alio Gold Inc. at its upcoming Annual General Meeting (AGM) of Shareholders. If approved, the Company expects to begin trading on both the TSX and the NYSE MKT under the ticker ALO on Tuesday, May 16, 2017.
Chief Executive Officer, Greg McCunn, said, "The word Alio in Latin means 'to go in a different direction' and is reflective of the important operational and management changes that have been made in 2017. The portfolio of assets we have will form the platform for the growth of Alio Gold into a mid-tier gold producer over the next several years. In the near-term, there are a number of exciting catalysts for Alio Gold including a Prefeasibility Study for our high-grade, high-margin Ana Paula Project and the plan for revitalizing our San Francisco Mine."
Annual General Meeting
The Company's Annual General Meeting will be held on May 12, 2017 at the offices of Blake, Cassels & Graydon LLP, 595 Burrard Street, Suite 2600, Vancouver, British Columbia. Please note the time of the meeting has been changed from 2:00pm to 10:00am PST. Along with the proposed name change to Alio Gold, the Company will also propose consolidation of its shares on a 10:1 basis, and, re-election of its current slate of directors as well as other routine annual meeting matters.
The details of all matters to be put forward to shareholders at the AGM are set forth in the Management Information Circular which is available at both www.sedar.com and the Company's website. Shareholders requiring assistance with the voting process may contact Laurel Hill Advisory Group, the proxy solicitation agent, by telephone at: 1-877-452-7184 (North America Toll Free) or 416-304-0211 (collect outside North America) or by email at: assistance@laurelhill.com
Please vote your shares before 10:00am PST on May 10, 2017
About Timmins Gold/Alio Gold
Timmins/Alio Gold is a Canadian gold mining company engaged in exploration, development and production in Mexico. Its principal assets include the producing San Francisco mine in Sonora, Mexico and the development stage Ana Paula project in Guerrero, Mexico. The Company also has a portfolio of other exploration properties, all of which are located in Mexico."
I saw it on google finance if you go to tgd than click on the news link A it will take you to the article.
Yes - I know consolidation .. reverse-split... where did you see this information? Please link...etc.
What does consolidation of shares at 10:1 mean?
I saw the name change... but where did you see the R/S information?
Seems that news of a name change and reverse split scares people.
That inlcudes me.
Those 1/2 cent penny pinching Vancouver pirate moochers knocking the bid/ask back today. I see no real reason for the share price to wane at this level while the news is in the positive net profit mode. We are only months away from the Ana Paulo project adding to the profits.
Bid whacking Vancouver pirates mooching down some 1/2 cent profits.
How much does it cost them to mine their gold all in, anybody?
With Gold stalled up ... I'm thinking this may come back down for a short time 1st. Maybe not.
The markets are closed tomorrow, holiday weekend. No debt, ppl holding. Opening higher next week, Mark it. On our way .70-$2
$TGD
It looks like it could be go time
Probably next week, but if things keep heating up possibly today
Us longs can hope lol
$TGD
Yes, TGD and the other miners are about ready for a nice run UP!!!!
Interesting TGD run tday... and last week.
Higher than normal volume, but TGD has its rally suppressed.
Gold hits 5-month high on safe-haven demand after U.S. strikes Syria
Once these shares get unloaded from various parties (my assumption). It should be time for a nice gain, as long as the company keeps providing good reports.
I am also wondering why TGD is remaining suppressed. Especially, since the last financial release.
I understand that... I'm trying to get into TGD right now as well.
That is a good report to be sure.
What is their cost per ounce?
Great 6-K report...
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11977584
FORM 6-K
TIMMINS GOLD CORP.
Date: April 4, 2017 By: (signed) Leslie L. Kapusianyk
Leslie L. Kapusianyk
Corporate Counsel and Secretary
TIMMINS GOLD REPORTS Q1 2017 PRODUCTION Q1 2017 HIGHLIGHTS
Gold production of 26,048 ounces, exceeding guidance of 20,000 ounces
Balance sheet strengthened with approximately $39 million in cash on-hand (March 31, 2017)
April 4, 2017 Vancouver, BC - Timmins Gold Corp. (TSX: TMM, NYSE MKT: TGD) (“Timmins Gold” or the “Company”) is pleased to report preliminary production results from its 100% owned San Francisco Mine in Sonora, Mexico for the Company’s first quarter (“Q1”) ended March 31, 2017. All results are presented in United States dollars (“US Dollars”) unless otherwise stated.
Commenting on the quarterly performance, Chief Executive Officer, Greg McCunn, said, “ The San Francisco mine had a very strong first quarter of the year with gold production ahead of guidance due to operational improvements made in the crushing and leaching circuit resulting in better gold recovery and the initiation of a project to recover gold from a previously closed leach pad. While these improvements are expected to allow us to achieve the upper end of our annual guidance of 70,000 to 75,000 ounces for 2017, we are continuing to re-engineer our life-of-mine plan for San Francisco and expect to publish the updated plan this quarter. We are excited about the potential to improve upon the existing plan for 2018 to 2022.
Our balance sheet continued to strengthen with cash increasing by $5 million across the quarter to approximately $39 million at March 31 st . We continue to invest the bulk of the cash flow from operations into advancing our high-grade, low cost Ana Paula Project in Guerrero, Mexico. With infill drilling and metallurgical testing largely complete, we anticipate a Pre-Feasibility Study with an updated Mineral Resource Estimate to be published this quarter”.
Mining and Processing (Three Months Ended March 31 st )
Category Units Q1 2017 Q1 2016
Ore Processed 000 t 1,963,307 2,003,712
Average Grade Processed g/t 0.48 0.62
Waste Mined 000 t 3,241,871 4,708,661
Total Mined 000 t 5,183,988 6,707,981
Strip Ratio W:O 1.67 2.36
Gold Produced oz 26,048 25,120
Silver Produced oz 11,899 14,671
The mining operations at San Francisco continued to source ore from all three operating pits: San Francisco Main, La Chicharra and Las Barajitas. The final benches of Phase 4 of the San Francisco pit were being mined at the end of Q1 and increasing amounts of ore were mined from La Chicharra and Las Barajitas. Ore is expected to be fully sourced from these pits during the second and third quarters as waste stripping to prepare Phase 5 of the San Francisco pit takes place.
Crushing and heap leaching operations performed well during the quarter, with an average of 21,815 tonnes per day crushed and stacked. A new operating philosophy was implemented in the heap leaching circuit targeting increasing the tenor of the pregnant leach solution ahead of the ADR plant. As well, improvements in the crushing circuit resulted in a finer crush size reporting to the heap leach pads. While final metallurgical balances are still being compiled, these modifications resulted in improved recovery of gold and increased gold production as a result.
During the quarter an old heap leach pad (Pad #2) which had an inter-stage liner placed on it during its prior operating life was re-leached, resulting in approximately 1,500 ounces of previously isolated gold being recovered from the pad. The re-leaching is continuing in the second quarter and is expected to offset some of the production decline anticipated due to lack of ore availability in the San Francisco Main pit while Phase 5 pre-stripping takes place.
Sales and Revenue
All of the gold produced during the quarter had been sold by quarter end resulting in 26,048 ounces of sales. The average selling price realized was $1,232/oz resulting in $32.3 million in metal revenues. The Company had approximately $39 million in cash as at March 31, 2017, up from $33.9 million at December 31, 2016.
Three Months Ended March 31st
Category Units Q1 2017 Q1 2016
Gold Sold oz 26,048 24,667
Realized Gold Price $/oz $1,232 $1,160
Technical Information & Qualified Person Notes:
This news release was reviewed and approved by Taj Singh, M.Eng, P.Eng, Vice-President of Engineering and Project Development of the Company, who is recognized as a Qualified Person under the guidelines of National Instrument 43-101.
About Timmins Gold
Timmins Gold is a Canadian gold mining company engaged in exploration, development and productionexclusively in Mexico. Its principal assets include the producing San Francisco mine in Sonora, Mexico and the development stage Ana Paula project in Guerrero, Mexico. The Company also has a portfolio of other exploration properties, all of which are located in Mexico.
I like TGD to a degree in my portfolio but prefer to hold larger positions in several other mining stocks. I want to mention First Mining Finance as it bought so many mines during the lean years at very low prices. I like the fact that Keith Neumeyer has had many success stories in his career.
I have been adding whenever I can. I believe gold prices will continue to rise and the DOW will plummet. People will flee to gold.
I never disclose my actual holdings, but I am accumulating TGD on the dips every pay check I get. I'm hoping it's a solid long term play for the next few years.
gltu!
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Overview
Timmins Gold Corp is well positioned for continuous growth as a gold production and development company. The Company owns and operates the open pit heap leach San Francisco Gold Mine in Sonora State, Mexico.
Timmins Gold’s experienced management team has delivered increased mine life and expanded production year over year since commercial production began in 2010.
On the exploration front, Timmins Gold has over 200,000 hectares of claims contiguous to the Mine along the highly prolific Northern Sonora Gold District. Past exploration success around the Mine has significantly increased gold resources and reserves.
Timmins Gold has delivered increased revenues, profits and earnings while maintaining low all-in cash costs.
The combination of production, free cash flow generation and exploration success positions Timmins Gold to deliver increased shareholder value. Timmins Gold trades on the TSX under the symbol TMM and the NYSE-MKT under the symbol TGD.
700 West Pender Street, Suite 615
Vancouver, British Columbia
(604) 682-4002
(Address and telephone number of Registrant’s principal executive offices)
CT Corporation System
111 Eighth Avenue, 13th Floor
New York, New York 10011
(212) 894-8700
355,628,602 Common Shares as of Feb. 2017
http://www.timminsgold.com/investors/share_structure/
8 Analysts cover TGD
http://www.timminsgold.com/investors/analyst_coverage/
FISCAL 2016 HIGHLIGHTS
- Stable balance sheet with $33.9 million in cash and working capital of $37.8 million.
- Metal revenues of $123.9 million from 100,480 ounces of gold sold at $1,234/oz.
- Cash provided by operating activities of $34.1 million after changes in non-cash working capital.
- Earnings and comprehensive income of $31.7 million ($0.10/share).
- Cash costs1 of $734/oz and All-in Sustaining Costs1 of $853/oz.
Financial performance
- Metal revenues were $123.9 million compared to $109.2 million during fiscal 2015. This represents a 13.4% increase from the prior year. The primary factor for the increase was an increase in gold ounces sold of 100,480 compared to 93,196 ounces during fiscal 2015. The average realized gold price increased to $1,234 per ounce compared to $1,172 during fiscal 2015.
- Earnings from operations were $37.4 million compared to a loss of $241.8 million during fiscal 2015. The difference was primarily due to an impairment reversal of $23.7 million during fiscal 2016 compared to an impairment charge of $228.4 million -during 2015. Additionally, earnings from mine operations were $34.9 million compared to a loss of $2.9 million during fiscal 2015.
- Earnings and comprehensive income were $31.7 million or $0.10 per share compared to loss and comprehensive loss of $190.3 million or $0.77 per share during fiscal 2015.
- Cash provided by operating activities was $34.1 million or $0.11 per share1 compared to $13.3 million or $0.05 per share during fiscal 2015.
- Cash and cash equivalents at December 31, 2016 were $33.9 million, an increase of $24.7 million from the prior year end. During the year, the Company generated $34.1 million from operations, received $9.2 million in receipts from the sale of the -Caballo Blanco Property ("Caballo Blanco") and received $13.8 million in proceeds from an equity financing. The Company invested $3.8 million on expansion programs, $2.0 million on exploration and evaluation projects, and $13.2 million on the Ana Paula gold project ("Ana Paula" or "the Project"). Also, the Company received $16.0 million of its VAT receivable in cash. Subsequent to December 31, 2016, the Company received $3.5 million of the $4.9 million VAT receivable.
- Working capital at December 31, 2016 was $37.8 million, an improvement of $51.5 million from December 31, 2015. This increase is a result of cash provided by operating activities of $34.1 million compared to $13.3 million during fiscal 2015. - During the year ended December 31, 2016, the Company sold the Caballo Blanco Property and completed a bought deal financing increasing cash by $9.2 million and $13.8 million, respectively. Repayment of the $10.2 million loan facility and $1.5 million debenture leaves the Company debt free.
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