Timmins Gold Corp. announced earnings and production results for first quarter ended March 31, 2017. For the quarter, the company reported metal revenues were $32.3 million compared to $28.6 million during first quarter of 2016. This represents a 12.9% increase from the prior year. The increase was a result of both an increase in gold ounces sold (26,048 compared to 24,667 ounces during first quarter of 2016) and an increase in the average realized gold price ($1,232 per ounce compared to $1,160 during first quarter 2016). Earnings from operations were $9.8 million compared to a loss of $8.6 million during first quarter of 2016. The difference was due to an impairment of $12.8 million that was recognized during first quarter of 2016 related to the Caballo Blanco asset sale. In addition, there were improved earnings from mine operations during first quarter of 2017 of $11.1 million compared to $6.3 million during first quarter of 2016. Earnings and comprehensive income were $6.0 million or $0.02 per share compared to loss and comprehensive loss of $10.7 million or $0.03 per share during first quarter of 2016. Cash provided by operating activities was $9.7 million or $0.03 per share compared to $2.4 million or $0.01 per share during first quarter of 2016.

The company produced and sold 26,048 ounces of gold, compared to 25,120 and 24,667 ounces of gold, respectively, during first quarter of 2016. The production increase was due to improved recovery, offset by a decrease in average processing grade of 0.48 g/t Au compared to 0.62 g/t Au during first quarter of 2016.

The company announced an increase in its overall guidance for the year 2017 to between 86,000 and 92,000 ounces. It's a significant increase over its previous guidance of 70,000 to 75,000 ounces for the year.

For the remaining nine months of 2017, the company expects gold produced to be around 66,087 oz, revenues to be around $83.2 million and cash flow from operations to be at $13.5 million.

For the year 2018, the company expects gold produced to be around 104,922 oz, revenues to be around $132 million and cash flow from operations to be at $39.1 million.

For the year 2019, the company expects gold produced to be around 112,984 oz, revenues to be around $142.2 million and cash flow from operations to be at $38.9 million.

For the year 2020, the company expects gold produced to be around 108,518 oz, revenues to be around $136.6 million and cash flow from operations to be at $25.7 million.

For the year 2021, the company expects gold produced to be around 110,294 oz, revenues to be around $138.8 million and cash flow from operations to be at $22.8 million.

For the year 2022, the company expects gold produced to be around 109,638 oz, revenues to be around $138 million and cash flow from operations to be at $22.8 million.

For the year 2023, the company expects gold produced to be around 71,225 oz, revenues to be around $89.6 million and cash flow from operations to be at $48.5 million.

For the year 2024, the company expects gold produced to be around 11,103 oz, revenues to be around $14 million and cash flow from operations to be at $5 million.