Business
Torex Gold Resources Provides 2021 Operational Outlook
(All amounts expressed in U.S. Dollars unless otherwise stated) TORONTO, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Today, Torex Gold Resources Inc. (the “Company” or “T
About this update from Torex Gold Resources Inc.
[{"type":"text","content":" (All amounts expressed in U.S. Dollars unless otherwise stated) TORONTO, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Today, Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) provides 2021 operational guidance. 2021 OPERATIONAL OUTLOOK 2021 Guidance 2020 Guidance (Revised2) 2020 Guidance (Original) Gold Production (guidance) oz 430,000 to 470,000 390,000 to 420,000 420,000 to 480,000 2020 Actual = 430,480 Total Cash Costs1 $/oz sold $680 to $720 $695 to $740 $640 to $670 All-in Sustaining Costs1 $/oz sold $920 to $970 $965 to $1,025 $900 to $960 Capitalized Waste M$ $40 to $45 $46 $51 Other Sustaining Expenditures M$ $30 to $40 $37 $34 Sustaining Capital Expenditures M$ $70 to $85 $83 $85 Non-Sustaining Capital Expenditures M$ $125 to $150 $92 $82 1 Refer to “Non-IFRS Financial Performance Measures” in the Company’s September 30, 2020 MD&A for further information and a detailed reconciliation. 2 Operational guidance for 2020 was revised on August 5, 2020 following the impact of the mandated shutdown of operations by the Government of Mexico to mitigate the risk of COVID-19 in the country. Jody Kuzenko, President and CEO of Torex, stated: “As we continue our pattern of consistent and reliable operational performance on the heels of a guidance beat in 2020, we expect another year of strong cash flow in 2021. The strength of our underlying business will enable us to continue to execute on our plan – fully repay project debt and continue to strengthen our balance sheet, de-risk and advance Media Luna, and invest in other value accretive opportunities. “2021 is all about setting the foundation for our future. As expected, our guidance for production, cash costs and sustaining capital is similar to years prior. The guided increase in non-sustaining capital expenditures year-over-year reflects strategic investments, including Media Luna, expanded development and exploration at ELG underground, a scoping-level study for a layback within the El Limón open pit, and ongoing field testing of Muckahi. Investment in Media Luna in 2021 is key to de-risking and delivering on the project schedule, as the early work of accessing the deposit, the feasibility study, and permitting activities continue to advance. “Exploration will also be a key focus this year. At ELG underground, we are investing add...