Torex Gold Resou Stock Price, News & Analysis

Torex Gold (TORXF) has reported positive drilling results from its ELG Underground program, highlighting the deposit's continued high-grade mineralization potential. The company's 2025 drilling program, with a $12 million budget, aims to extend mine life and sustain production above 450,000 gold equivalent ounces beyond 2030. Notable results include intercepts of 12.18 gpt AuEq over 26.4m at El Limón Sur Trend and 8.98 gpt AuEq over 35.8m at El Limón West Trend. The program has expanded to 48,000 metres of drilling for 2025, nearly double compared to 2024, with a 50% increased budget. Drilling focuses on four main areas: El Limón Sur, El Limón Deep, El Limón West, and Sub-Sill trends, with multiple high-grade intercepts indicating potential resource expansion.

Torex Gold (TORXF) reported Q1 2025 financial results, marking significant milestones including the completion of processing plant tie-ins and first concentrate production at Media Luna. The company achieved gold equivalent production of 59,630 oz with sales of 60,568 oz at a record quarterly average price of $2,793/oz. Revenue reached $170.0 million with net income of $39.0 million ($0.45 per share). All-in sustaining costs were $1,405 per oz, with a 50% margin. The company drew $130 million from its credit facility due to tax payments and final Media Luna capital spending. Commercial production was declared at Media Luna on April 26, 2025. Despite lower Q1 production due to planned shutdowns, Torex maintains its full-year guidance of 400,000-450,000 oz AuEq and expects improved performance in upcoming quarters. The company's exploration program showed promising results at Media Luna West and East, supporting production of at least 450,000 oz AuEq through 2030.

Torex Gold (TORXF) has achieved commercial production at its Media Luna mine, marking a significant transition to become both a gold and copper producer. The project is 98% complete as of Q1 2025, with construction substantially finished within budget and schedule. Key achievements include the commissioning of the Guajes Tunnel conveyor, completion of 83 tie-ins, and first concentrate production on March 24th. Underground development is ahead of schedule with 51 of 60 planned stopes drilled for 2025. The company expects to reach the design capacity of 7,500 tonnes per day by mid-2026, six months ahead of the Feasibility Study timeline. The project was primarily funded through cash from existing operations, with minimal net debt that is expected to be repaid by mid-2025 when positive free cash flow generation begins.

Torex Gold Resources (TSX: TXG) reported Q1 2025 gold equivalent (AuEq) payable production of 59,630 ounces and AuEq sold of 60,568 oz, aligning with their annual guidance of 400,000 to 450,000 oz AuEq.

The quarter marked significant milestones including successful flotation circuits tie-in to the processing plant, Guajes Tunnel conveyor commissioning, and first production of precious metal rich copper concentrate. Production was lighter due to a four-week tie-in period starting February 18th.

Key operational metrics include:

• Media Luna Underground mining rates averaging 4,096 tpd in April
• ELG Underground achieving 2,074 tpd
• Overall ore processing rate of 7,829 tpd
• Gold recovery rate of 90.4%

The company expects to achieve commercial production in the coming weeks and remains on track for its guided production range, forecasting material improvement in Q2 and modest uptick in the latter half of the year.

Torex Gold Resources (TSX: TXG) has announced the completion of its Media Luna Project tie-in period and achieved first production of precious metal-rich copper concentrate. The milestone marks the company's transition to becoming a gold and copper producer.

The four-week tie-in period involved 83 tie-ins and 136 system commissions at the processing plant. The company expects to begin trucking copper concentrate in the coming days, with commercial production anticipated in the coming weeks.

Mining operations at Media Luna continue to progress with:

• Production rates ramping up with ore transport via Guajes Tunnel conveyor
• Monthly development rates exceeding budgeted 1,200 metres
• 88 stopes drilled off, including 46 planned for 2025
• Steady-state mining rate target of 7,500 tonnes per day expected by mid-2026

Torex Gold Resources has reported its year-end 2024 mineral reserves and resources for the Morelos Complex. Total Proven and Probable Reserves increased 7% to 5,096 koz AuEq at 3.92 g/t, with 63% attributable to gold, 30% to copper, and the remainder to silver.

Key highlights include:

• EPO's inaugural Probable Reserve of 781 koz AuEq declared in September 2024
• ELG Underground reserves increased 1% to 662 koz AuEq, supporting operations through early 2029
• 162% replacement rate of processed reserves during 2024
• Inferred Resources grew 4% to 2,243 koz AuEq at 4.22 g/t

The company plans to nearly double its drilling program to 125,000 metres in 2025, focusing on enhancing production beyond 2030, extending underground deposits' reserve life, and exploring regional targets. The updated base case solidifies annual production of at least 450,000 AuEq ounces through 2030, with a reserve life extending to at least 2035.

Torex Gold Resources has reported significant drilling results from Media Luna West and Media Luna East targets. At Media Luna West, drilling defined a mineralized footprint of 600m by 400m with multiple high-grade intercepts, notably 13.40 gpt gold equivalent over 28.4m. Initial drilling at Media Luna East yielded strong results, including 28.12 gpt gold equivalent over 18.3m with 18.84 gpt gold and 4.52% copper.

The company plans over 20,000 metres of drilling across both targets in 2025, with an inaugural Inferred Resource estimate for Media Luna West targeted by year-end 2025. The exploration program supports Torex's strategy to maintain annual gold equivalent production of over 450,000 ounces while extending operations beyond 2035.

The drilling results confirm the continuity of mineralization along a north-south trend, with stronger structural control and higher grades near the San Miguel fault, which is believed to be the main source of mineralization for the Media Luna Cluster.

Torex Gold Resources reported strong operational and financial results for 2024, achieving gold production of 452,523 ounces, meeting annual guidance for the sixth consecutive year. The company generated record annual revenue of $1.1 billion and record adjusted EBITDA of $540 million.

Key financial highlights include total cash costs of $940 per oz sold and all-in sustaining costs of $1,156 per oz sold. The company maintained strong liquidity with $331.5 million available, including $110.2 million in cash. The Media Luna Project reached 94% completion, with first concentrate production expected by end of March 2025.

However, the company faced significant safety challenges in 2024, including a tragic incident in December resulting in three fatalities at the ELG Underground, and another fatal injury in August involving a contractor worker.

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.