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Torex Gold Resources Inc. (TORXF) provides investors and stakeholders with authoritative updates through this dedicated news hub. Access verified press releases and operational announcements from the Canadian intermediate gold producer focused on its Morelos Property in Mexico's Guerrero Gold Belt.
This resource consolidates essential updates including quarterly earnings reports, Media Luna Project developments, exploration results, and operational milestones. Users gain timely insights into production figures, safety initiatives, and strategic decisions driving the company's disciplined growth strategy.
All content undergoes strict verification to ensure accuracy and compliance with financial disclosure standards. The news collection serves as a reliable reference for tracking Torex Gold's progress in gold mining operations, resource optimization efforts, and technological implementations across its mining complex.
Bookmark this page for direct access to original corporate communications, maintaining an informed perspective on the company's operational performance and long-term value creation in the precious metals sector.
Torex Gold Resources reports 94% completion of its Media Luna Project as of December 31, 2024. The project is on track for first copper concentrate production by end of Q1 2025, with engineering concluded and procurement 99% complete. Underground development is exceeding targets at 1,300 meters per month, with surface construction at 85% completion.
The company expects to achieve the designed mining rate of 7,500 tonnes per day by mid-2026, six months ahead of schedule. Q4 2024 expenditure was approximately $100 million, bringing total annual spend to $449 million. The company forecasts approximately $60 million in non-sustaining capital expenditures for 2025.
Commercial production is expected in early Q2 2025, with the company anticipating a return to positive free cash flow by mid-year. The project's completion includes 100% engineering completion, 99% procurement completion, 90% underground development/construction, and 85% surface construction.
Torex Gold Resources has provided its 2025 operational guidance and updated five-year production outlook for the Morelos Complex. The company expects gold equivalent production of 400,000 to 450,000 ounces in 2025, with all-in sustaining costs of $1,400 to $1,600 per ounce. The guidance includes a four-week processing plant shutdown in Q1 2025 for Media Luna Project upgrades.
Total capital expenditures for 2025 are guided at $175-195 million, significantly lower than 2024's $495-530 million. The company plans to invest $45 million in drilling and exploration, focusing on expanding resources and replacing reserves. Production is expected to increase in 2026, maintaining 450,000-500,000 gold equivalent ounces through 2030.
Torex anticipates returning to positive free cash flow by mid-2025 as Media Luna ramps up. The company will become a meaningful copper producer, with the metal representing approximately 20% of 2025 production. Production costs are expected to improve throughout the year, with Q4 costs anticipated to be at the lower end of the guided range.
Torex Gold Resources (TSX: TXG) achieved its full-year production guidance for the sixth consecutive year, reporting 452,523 ounces of gold production in 2024, within the revised guidance range of 450,000 to 470,000 oz. Fourth quarter production reached 103,795 oz, with gold sales of 108,647 oz.
Operations were temporarily suspended for over a week in December following a tragic incident at ELG Underground that resulted in the loss of three colleagues. Despite this setback, the company maintained strong operational performance, with consistent mill performance and robust mining rates at ELG Underground. The main El Limón pit concluded operations in Q4, with El Limón Sur pit expected to be exhausted in H1 2025.
Looking ahead to 2025, Torex plans to complete the Media Luna Project, begin EPO development, increase drilling and exploration investment, and expects to return to positive free cash flow by mid-year.
Torex Gold Resources announces the resumption of operations at the Morelos Complex following the lifting of a temporary suspension by the Director General of Mines. The company will restart all production and development activities, including open pit and underground mining, processing operations, and the Media Luna Project.
The company maintains its full-year 2024 production guidance of 450,000 to 470,000 ounces of gold, though it's tracking towards the lower end. The Media Luna Project schedule remains unchanged, with the four-week processing plant tie-in period scheduled for February 2025.
Torex Gold Resources has received a notification from the Director General of Mines under the Federal Ministry of Economy to temporarily suspend all activities within the Morelos Property. The suspension is to facilitate their inspection following a fatal incident at the El Limón Guajes underground mine on December 5th that resulted in three fatalities.
The company's operational and project activities within the Morelos Complex have been temporarily halted pending official permission to resume. Mining Unit officials are expected to arrive on Tuesday for inspection. Despite the suspension, the company maintains its full year 2024 production guidance and the Media Luna Project schedule remains unchanged.
Torex Gold Resources reports a tragic incident at its El Limón Guajes (ELG) underground mine where three individuals (two employees and one contractor) lost their lives due to carbon monoxide exposure, while another contractor was injured but is now recovering. The incident occurred in a restricted area being prepared for ventilation following a stope blast, where two individuals initially entered and two others followed in a rescue attempt.
The company has notified authorities and is cooperating with regulatory investigations while conducting its own internal investigation. Operations at ELG Underground have resumed after a 24-hour standdown. The company confirms that the incident will not impact its full-year 2024 production guidance or the Media Luna Project schedule.
Torex Gold Resources reports a tragic incident at their El Limón Guajes (ELG) underground mine where three workers lost their lives due to carbon monoxide exposure on December 5th. Two employees and one contractor, aged 32, 36, and 39, were fatally affected. A fourth contract employee was hospitalized and is expected to recover.
The company has suspended operations at the ELG Underground mine and notified relevant authorities. An investigation will be conducted to determine the cause of the accident. The company's management expressed their commitment to supporting the affected families and understanding the cause of this tragic incident.
Torex Gold Resources has announced compelling new results from its 2024 ELG Underground drilling program. The program has demonstrated potential to extend mine life through high-grade mineralization discoveries and resource expansion. Key findings include impressive grades at El Limón Sur Trend with intercepts up to 94.30 gpt AuEq over 6.1m, and successful drilling at El Limón Deep, Sub-Sill, and El Limón West trends. Surface mapping revealed potential mineralization extension north towards La Flaca fault. The company has completed 29,442m of the planned 43,200m drilling program for 2024, with a $12 million budget allocation.
Torex Gold Resources has received approval from the Toronto Stock Exchange for a normal course issuer bid (NCIB). The company is authorized to purchase up to 7,116,777 common shares, representing 10% of its public float, between November 21, 2024, and November 20, 2025. Daily purchases are to 66,028 shares, with block purchase exceptions allowed weekly. All purchased shares will be cancelled, funded through available working capital. The company maintains discretion over purchases, which may be suspended at any time based on market conditions and growth opportunities.
Torex Gold Resources announces positive results from its ongoing 2024 EPO exploration program, indicating strong potential to upgrade Inferred Resources to Indicated Resources and expand resources northward. Key highlights include drill hole ML23-1009 returning 10.67 gpt gold equivalent over 36.6 metres, and ML23-1001 yielding 6.82 gpt gold equivalent over 18.9 metres. The company has budgeted $10 million for the 2024 drilling program, targeting 21,000 meters with four rigs. EPO currently hosts 1.15 Moz gold equivalent Indicated Resource at 5.14 gpt and 0.72 Moz Inferred Resource at 4.52 gpt.
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