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REFILE-Timmins Gold profit rises on higher production
August 14, 2012 / 10:32 AM / 5 years ago

REFILE-Timmins Gold profit rises on higher production

(Refiles to correct date and fix typo in paragraph 1)

Aug 14 (Reuters) - Canada’s Timmins Gold Corp said its quarterly profit rose 6 percent on higher production from its Mexico mine.

The net profit rose to $6.2 million, or 4 cents per share, in the second quarter from $5.8 million, or 4 cents per share, a year earlier.

Revenue rose about 41 percent to $38.2 million.

Production rose 39 percent to 23,203 ounces of gold.

Gold prices rose 7 percent to average $1,611 per ounce during the second quarter from the year-ago period.

The company still expects to produce 100,000 ounces of gold this year from its San Francisco gold mine in Sonora, Mexico.

Timmins shares closed at C$2.12 on Monday on the Toronto Stock Exchange. (Reporting By Sandhya Vijayan in Bangalore; Editing by Don Sebastian)

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