Business
Torex Gold Resources Delivers Record Annual Production in 2021
Full Year Output at the Upper End of Guidance(All amounts expressed in U.S. Dollars unless otherwise stated) TORONTO, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Torex Go
About this update from Torex Gold Resources Inc.
[{"type":"text","content":" Full Year Output at the Upper End of Guidance(All amounts expressed in U.S. Dollars unless otherwise stated) TORONTO, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) reports record annual gold production of 468,200 ounces at El Limón Guajes (ELG) for the full year 2021, including 109,410 ounces in the last quarter of the year. Gold sold during 2021 was 468,820 ounces at an average realized gold price1 of $1,790 per ounce, including 109,390 ounces during the fourth quarter at an average realized price of $1,795 per ounce. TABLE 1: FOURTH QUARTER AND FULL YEAR 2021 OPERATIONAL HIGHLIGHTS Q4 2021 FY 2021 Gold Produced oz 109,410 468,200 Average Plant Throughput tpd 12,610 12,360 Average Underground Ore Mined tpd 1,030 1,260 Average Open Pit Ore Mined tpd 9,390 13,040 Strip Ratio waste:ore 10.4 7.3 Torex plans to release its fourth quarter and year-end 2021 financial and operational results after market close on Wednesday February 23, 2022, followed the next morning by a conference call hosted by senior management. Gold grades mined, gold grades processed, and gold recoveries will be reported with the quarterly results. Jody Kuzenko, President & CEO of Torex, stated: “We had an exceptional year in 2021, with annual gold production of 468,200 ounces – a new record for Torex. The full year result lands squarely on plan, at the upper end of the guided range of 430,000 to 470,000 ounces and beats the prior annual record of 454,811 ounces achieved in 2019. During the year, the Company also set a record milling rate of more than 12,360 tpd and a record underground mining rate of 1,260 tpd, both demonstrating the continuous improvement approach applied by our various operating teams. “True to Torex form, our safety performance was also remarkable in the year as we closed out 2021 recording only one contractor lost time injury, with almost 6 million hours worked lost time injury free. That said, Q4 specific results out of the mines were impacted by a short-term suspension of blasting activities owing to a high potential uncontrolled blasting incident at the Media Luna project on the South Side of the Balsas River. While there were no injuries or infrastructure damage, as always, we took the steps to investigate and ensure that all standards were in order prior to resuming ...