Business
Torex Gold Delivers on Full-Year Production Guidance
2024 marks the sixth consecutive year production guidance has been achieved Toronto, Ontario--(N...
About this update from Torex Gold Resources Inc.
[{"type":"text","content":"Torex Gold Delivers on Full-Year Production Guidance2024 marks the sixth consecutive year production guidance has been achievedToronto, Ontario--(Newsfile Corp. - January 8, 2025) - Torex Gold Resources Inc. (the \"Company\" or \"Torex\") (TSX: TXG) reports fourth quarter gold production of 103,795 ounces (\"oz\") and full-year gold production of 452,523 oz, within the Company's revised guidance range of 450,000 to 470,000 oz (original guidance of 400,000 to 450,000 oz). Fourth quarter and full-year gold sold were 108,647 oz and 455,932 oz, respectively.TABLE 1: PRELIMINARY FOURTH QUARTER AND FULL-YEAR 2024 OPERATIONAL RESULTSQ4 2024FY 2024MiningELG Open Pits - Ore tonnes mined per daytpd9,25613,611ELG Open Pits - Waste tonnes mined per daytpd16,83057,120ELG Open Pits - Strip ratiowaste:ore1.84.2ELG Underground - Ore tonnes mined per daytpd2,2482,092ProcessingAverage plant throughputtpd11,89412,777Average gold recovery%90.590.6Average gold grade of ore processedgpt3.323.32Gold producedoz103,795452,523Gold soldoz108,647455,932 Operational results are preliminary in nature and subject to final reconciliation. Financial and operational results for the fourth quarter and year-end 2024 will be released after market close on Wednesday, February 19, 2025. A conference call hosted by senior management will be held the following day at 9:00 AM ET.Jody Kuzenko, President & CEO of Torex, stated:\"December was a difficult month for Torex with the loss of three colleagues at ELG Underground. In the wake of the tragedy, operations were suspended for just over a week to allow for inspections by the relevant government agencies. While operations have since resumed, our own internal investigation is ongoing. \"With the temporary suspension of operations, we produced 103,795 oz of gold during the fourth quarter. Against the backdrop of solid operational performance through the first three quarters of the year, full-year gold production was 452,523 oz, putting us within the annual production guidance range for the sixth consecutive year.\"Excluding the downtime in December, the operations performed well, with consistent performance at the mill matched by continued strong mining rates at ELG Underground, where we expect further upside in 2025 as we add some long-hole stopes into the mine plan. The decline in mining rates in the ELG Open Pi...