Business
Torex Gold Resources Announces Initial Return of Capital Program
Combination of dividends and share repurchases reflects significant cash flow generation following successful completion of Media Luna (All amounts expressed in
About this update from Torex Gold Resources Inc.
[{"type":"text","content":" Combination of dividends and share repurchases reflects significant cash flow generation following successful completion of Media Luna (All amounts expressed in U.S. dollars unless otherwise stated) Toronto, Ontario--(Newsfile Corp. - November 5, 2025) - Torex Gold Resources Inc. (the \"Company\" or \"Torex\") (TSX: TXG) (OTCQX: TORXF) announces its initial return of capital program, which is a key priority within the Company's capital allocation framework developed to maximize shareholder returns through all commodity cycles. The return of capital program will consist of a quarterly dividend of C$0.15 per Torex common share and discretionary share repurchases through the Company's normal course issuer bid (\"NCIB\"). During the third quarter of 2025, the Company repurchased C$10.0 million ($7.2 million) of shares under its current NCIB. Jody Kuzenko, President & CEO of Torex, stated: \"With the pivot back to positive free cash flow in June, the ramp-up of Media Luna tracking to plan, and modest levels of debt outstanding, the time is right to return capital to our shareholders through a sustainable quarterly dividend and opportunistic share repurchases. This mix of dividends and share repurchases balances the preferences, investment mandates, and styles of our diverse shareholder base. \"The return of capital plan announced today represents the first step towards a broader program, one which we expect to evolve through 2026 as our balance sheet continues to strengthen. As we advance our capital allocation priorities, including paying down debt and building a minimum cash balance of $200 million, we expect to provide more definitive thresholds with respect to the specific quantum of capital to be returned to shareholders on an annual basis. \"Given the robust free cash flow generation anticipated, even at more modest metal prices than we see today, we can return capital through dividends and share repurchases without impacting our ability to fund other capital allocation priorities to unlock future value. These plans include extending the mine life and enhancing margins at Morelos, advancing the recently acquired Los Reyes project through the development cycle and into production, and unlocking the geologic potential with robust drilling programs across our entire portfolio of projects throughout Mexico as well as Neva...