Torex Gold Reports Strong
Operational Start to the Year
Torex Gold Resources Inc. (TSX: TXG) reported Q1 2021 gold production of 129,500 ounces, which is the Company’s highest first quarter of production on record. During the quarter, Torex sold 129,010 ounces of gold at an average realized price of $1,775 per ounce.
With the strong start to the year, Torex is well-positioned to achieve full year production guidance of 430,000 to 470,000 ounces of gold in 2021.
Jody Kuzenko, President & CEO of Torex, stated:
“The operational momentum gained in H2 2020 has continued, with the team delivering the strongest first quarter of gold production on record. The open pits and underground continued to deliver solid, reliable performance, with the underground achieving a new quarterly record of ore mined. The process plant achieved a record monthly milling rate in March of 13,810 tonnes per day.
“The strong operational results were matched by an equally solid safety performance, with no lost time injuries in the quarter. Our culture of safety continues to be reflected in ongoing adherence to our multi-layered COVID-19 protocols, to ensure business continuity and mitigate spread of the virus within our operations and host communities.
“As outlined during our Q4 2020 conference call, operating cash flow is expected to be weighted towards the second half of the year, given tax and royalty payments in Q1 and profit-sharing payment in Q2. We have never been in a stronger financial position with our remaining long-term debt paid in the quarter and the refinancing of our debt facility, providing us with significant financial flexibility to develop Media Luna, potential M&A and continue the exploration program on the Morelos property.
“We continue to demonstrate our ability as a team to deliver excellence on a consistent basis. With such a strong start in the first quarter we are well positioned to deliver on 2021 guidance.”
First quarter 2021 financial and operating results will be available on May 13, 2021. To view Q1 2021 results Clck Here.
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