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Torex Gold Provides 2024 Operational Guidance and Updated Five-year Production Outlook
2024 is a pivotal year that sets up for strong continued production and future free cash flow fro...
About this update from Torex Gold Resources Inc.
[{"type":"text","content":"Torex Gold Provides 2024 Operational Guidance and Updated Five-year Production Outlook2024 is a pivotal year that sets up for strong continued production and future free cash flow from Morelos(All amounts expressed in U.S. dollars unless otherwise stated)Toronto, Ontario--(Newsfile Corp. - January 16, 2024) - Torex Gold Resources Inc. (the \"Company\" or \"Torex\") (TSX: TXG) provides 2024 operational guidance as well as an updated five-year production outlook for the Morelos Complex, which includes the ELG Mine Complex (\"ELG\") and Media Luna Project (\"Media Luna\").TABLE 1: 2024 OPERATIONAL GUIDANCE2024 Guidance2023 Guidance1Production Gold Equivalent2AuEq oz410,000 to 460,000Not provided Goldoz400,000 to 450,000440,000 to 470,000Total Cash Costs3 Gold Equivalent basis4a$/oz AuEq sold$900 to $950Not providedBy-Product basis4b$/oz Au sold$860 to $910$840 to $870All-in Sustaining Costs3 Gold Equivalent basis4c$/oz AuEq sold$1,130 to $1,190Not providedBy-Product basis4d$/oz Au sold$1,100 to $1,160$1,160 to $1,200Sustaining Capital Expenditures4eSustainingM$$50 to $60$60 to $70Capitalized Waste StrippingM$$5$55 to $65Total SustainingM$$55 to $65$115 to $135Non-Sustaining Capital Expenditures4fMedia Luna ProjectM$$350 to $400$360 to $390Media Luna Cluster Drilling/OtherM$$10 to $15$22Total Non-SustainingM$$360 to $415$382 to $412 1) 2023 guidance was revised in November. For more information, see the press release dated November 14, 2023, titled Torex Gold Reports Third Quarter 2023 Results found on our website, www.torexgold.com.2) Gold equivalent (AuEq) production includes Au and AuEq values for silver (Ag) and copper (Cu) sold assuming metal prices of $1,900/oz gold, $23/oz silver, and $3.75/lb copper.3) 2024 guidance assumes a realized gold price of $1,900/oz and MXN:USD of 18.0.4) Refer to “Non-GAAP Financial Performance Measures” in the Company’s September 30, 2023 MD&A for further information and a detailed reconciliation. See also the Cautionary Notes to this press release.a) Total cash costs on a gold equivalent basis ($ per AuEq sold) not previously disclosed, however are comparable to the previously disclosed total cash costs on a by-product basis.b) Total cash costs on a by-product basis (net of silver and copper revenues) in 2023 have averaged $858 per ounce Au sold through Q3.c) All-in ...