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Torex Gold Reports Q3 2024 Production Results
Solidly on track to deliver full-year production guidance following strong third quarter results ...
About this update from Torex Gold Resources Inc.
[{"type":"text","content":"Torex Gold Reports Q3 2024 Production ResultsSolidly on track to deliver full-year production guidance following strong third quarter resultsToronto, Ontario--(Newsfile Corp. - October 8, 2024) - Torex Gold Resources Inc. (the \"Company\" or \"Torex\") (TSX: TXG) reports Q3 2024 gold production of 119,412 ounces (\"oz\") and gold sold of 122,130 oz. With year-to-date gold production of 348,728 oz, the Company is on track to achieve annual gold production guidance of 400,000 to 450,000 oz.TABLE 1: PRELIMINARY THIRD QUARTER 2024 OPERATIONAL RESULTSQ3 2024MiningELG Open Pits - Ore tonnes mined per daytpd16,731ELG Open Pits - Waste tonnes mined per daytpd46,727ELG Open Pits - Strip ratiowaste:ore2.8ELG Underground - Ore tonnes mined per daytpd2,127ProcessingAverage plant throughputtpd12,889Average gold recovery%90.7Average gold grade of ore processedgpt3.47Gold producedoz119,412Gold soldoz122,130 Operational results are preliminary in nature and subject to final reconciliation. Financial and operational results for Q3 2024 will be released after market close on Wednesday November 6, 2024. 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:\"We delivered a strong operational result during the third quarter with gold production of 119,412 oz, bringing year-to-date gold production to 348,728 oz. With this solid performance, we are well on track to deliver on full-year production guidance for the sixth consecutive year.\"The increased production relative to the first two quarters of the year reflects the impact of higher processed grades, stable mine production and steady recoveries, partially offset by slightly lower tonnes processed and timing of gold pours at quarter-end. As expected, mining rates at ELG Underground remained above 2,000 tonnes per day (\"tpd\") while, at the open pit, the lower strip ratio relative to the first half of the year was in line with the mine plan as we move into the final phases of the El Limón open pit.\"Overall, the strong operational performance combined with a record high gold price supports continued margin expansion and robust cash flow generation. The forecast cash flow generation in combination with an already strong funding position provides the financial capacity and flexibility to complete ...