Welcome to our dedicated page for Torex Gold Resou news (Ticker: TORXF), a resource for investors and traders seeking the latest updates and insights on Torex Gold Resou stock.
Torex Gold Resources Inc. (OTCQX: TORXF) generates frequent news as a Canadian mining company focused on the exploration, development, and production of gold, copper, and silver. Most company announcements center on its flagship Morelos Complex in Guerrero, which Torex describes as Mexico's largest single gold producer, and on its growing portfolio of development and exploration projects in Mexico and the United States.
On this page, readers can follow Torex Gold news related to operational performance at the Morelos Complex, including quarterly production updates, guidance for gold-equivalent output, and all-in sustaining cost metrics. The company regularly reports on the ramp-up of the Media Luna underground mine, performance of the centralized processing plant, and drilling results from ELG Underground and the Media Luna Cluster.
Torex also issues news about its broader growth strategy, such as the acquisition and advancement of the Los Reyes gold-silver project in Sinaloa, Mexico, and the addition of early-stage exploration properties like Batopilas and Guigui in Chihuahua, and Gryphon and Medicine Springs in Nevada, USA. Corporate developments, including recognition in the TSX30 ranking, capital allocation decisions, normal course issuer bids, and the introduction of a dividend and share repurchase program, are also common themes.
Investors and followers of TORXF can use this news feed to track updates on production guidance, exploration results, project development milestones, and capital returns. Bookmark this page to monitor how Torex Gold communicates progress on its strategic objectives, including optimizing Morelos, delivering Media Luna to full production, growing reserves and resources, and advancing its diversified precious metals portfolio.
Torex Gold has announced positive results from its 2024 ELG Underground drilling program, revealing new high-grade mineralization zones that could extend the mine life beyond 2028. The drilling program aims to maintain annual gold production above 450,000 ounces through 2033. Key intercepts include:
El Limón Sur Trend: 7.19 gpt AuEq over 12.2 meters, 10.70 gpt AuEq over 3.1 meters, and 3.42 gpt AuEq over 3.0 meters.
El Limón Deep Trend: 14.29 gpt AuEq over 5.4 meters, and 11.16 gpt AuEq over 15.3 meters.
Sub-Sill Trend: 11.82 gpt AuEq over 5.0 meters, and 19.85 gpt AuEq over 8.5 meters.
Torex has allocated $12 million for exploration in 2024, with 8,709 meters drilled so far. The company aims to convert Inferred Resources to Indicated and expand high-grade zones, ensuring long-term growth and cash flow generation.
Torex Gold Resources held its 2024 annual meeting, where shareholders re-elected seven directors and re-appointed Rick Howes as Chair of the Board. Tony Giardini did not seek re-election after three years on the Board. The meeting also included the re-appointment of KPMG LLP as auditors and the approval of a 'Say on Pay' executive compensation approach. The vote details were overwhelmingly in favor of the current board and company proposals, with most resolutions receiving over 97% support. Full voting results will be available on SEDAR+.
Torex Gold has unveiled a multi-year exploration strategy for its Morelos Property, focusing on generating new mineral resources and extending the life of existing mines. Key targets include increasing production beyond 2027 and making new discoveries. The strategy includes a $30 million budget for 2024 and aims to maintain an annual production of 450,000 gold equivalent ounces.
Main exploration efforts are directed at the Media Luna Cluster and ELG Underground, with goals to expand resources, delineate reserves, and test new high-priority targets. Additional targets include Todos Santos, El Naranjo, and Atzcala. The company also plans to leverage existing infrastructure to optimize costs.
Torex's systematic, data-driven approach aims to solidify Morelos as a foundational asset, enhancing long-term shareholder value through strategic exploration and drilling initiatives.
Torex Gold Resources released its 2023 Responsible Gold Mining Report, emphasizing its commitment to Environmental, Social, and Governance (ESG) standards. The report spotlights key achievements such as a lost-time injury frequency of 0.31 per million hours worked, reaching 10 million hours without a lost-time injury at the El Limón Guajes site, zero environmental incidents, and a significant community impact with $3.1 million invested in local development.
Torex also reported a 66% water recycling rate, planted 70,560 trees, and made 90% of its procurement spend in Mexico, totaling $158 million. The report aligns with the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) standards and demonstrates improvements in ESG ratings by MSCI, Sustainalytics, and CDP.
Torex Gold Resources Inc. reports Q1 2024 financial results with solid performance, production of 115,494 oz, all-in sustaining costs of $1,202/oz, and record average realized gold price of $2,023/oz. The Company maintains strong liquidity, with $405 million available, and progresses Media Luna Project 70% complete. ELG maintains excellent safety with 14 million hours lost-time injury free.
Torex Gold Resources Inc. provides its Q1 2024 update on the development of its Media Luna Project. The project remains on schedule with 95% of upfront expenditures committed. Progress includes engineering activities at 91%, procurement at 78%, and overall project completion at almost 70%. Capital expenditures are tracking well, with over $400 million in available liquidity. The Company anticipates a return to positive free cash flow by 2025.
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