TORONTO (miningweekly.com) – Timmins Gold Corp, which mines the precious metal in Mexico, will float its shares on the NYSE Amex on November 4, the company said on Wednesday.

The company is already listed in Toronto, where its stock had gained nearly 7% by 12:50 to trade at C$2.55.

Timmins CEO Bruce Bragagnolo said the new listing would create better exposure to investors in the US and would also increase liquidity of the share.

The company began producing gold at its San Francisco mine in Sonora during the second quarter of 2010,

Vancouver-based Timmins aims to produce over 100 000 oz at the mine during its 2011 fiscal year, and hopes to grow output beyond that. The company owns other exploration properties in Mexico.

Gold miners climbed on the TSX, buoyed by the rising price of the metal they produce.
 

To subscribe to Mining Weekly's print magazine email subscriptions@creamermedia.co.za or buy now.