VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 2, 2015) – Timmins Gold Corp. (TSX:TMM)(NYSE MKT:TGD) (“Timmins” or the “Company”) reports its operating and financial results for the third quarter ended September 30, 2015 (“Q3 2015”). The comparative period is the third quarter ended September 30, 2014 (“Q3 2014”). All results are presented in United States dollars (“US Dollars”) unless otherwise stated. Readers should refer to the 2015 management discussion and analysis and condensed interim consolidated financial statements for complete information.
As a result of the current sustained decrease in the spot gold price and subsequent changes to the San Francisco mine plan as well as changes to the Company’s areas of exploration focus and changes to the estimated recoverable ounces contained within the leach pad inventory, the Company recorded a total impairment of mineral properties, plant and equipment and other assets of $226.5 million during the period.