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Torex Gold Resources Provides 2022 Guidance for El Limón Guajes; Well Positioned to Deliver Another Strong Year of Production and Cash Flow
Well Positioned to Deliver Another Strong Year of Production and Cash Flow(All amounts expressed in U.S. Dollars unless otherwise stated) TORONTO, Jan. 19, 2022
About this update from Torex Gold Resources Inc.
[{"type":"text","content":" Well Positioned to Deliver Another Strong Year of Production and Cash Flow(All amounts expressed in U.S. Dollars unless otherwise stated) TORONTO, Jan. 19, 2022 (GLOBE NEWSWIRE) -- Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) provides 2022 operational guidance for its El Limón Guajes (“ELG”) Mining Complex, which forms part of the Company’s Morelos Property in Guerrero, Mexico. Full year non-sustaining capital expenditure guidance for the Company’s Media Luna project will be announced when the updated Technical Report for the entire Morelos Property is released at the end of March. 2022 OPERATIONAL OUTLOOK FOR ELG 2022 Guidance 2021 Guidance1 Gold Production oz 430,000 to 470,000 430,000 to 470,000 Total Cash Costs2a $/oz sold $695 to $735 $680 to $720 All-in Sustaining Costs2b $/oz sold $980 to $1,030 $920 to $970 Sustaining Capital Expenditures2c Capitalized Waste M$ $50 to $60 $45 to $50 ELG Sustaining M$ $35 to $45 $30 to $40 Total Sustaining M$ $85 to $105 $75 to $90 Non-Sustaining Capital Expenditures2d ELG Non-Sustaining M$ $15 to $20 $25 to $40 Media Luna Non-Sustaining M$ Pending $100 to $110 Total Non-Sustaining M$ Pending $125 to $150 1) 2021 guidance was updated mid-year to reflect increased level of capital waste related to approval of El Limón pushback. 2) Refer to “Non-IFRS Financial Performance Measures” in the Company’s September 30, 2021 MD&A for further information and a detailed reconciliation. See also the Cautionary Notes to this press release. a) Total cash costs in 2021 have averaged $646 per ounce gold sold through Q3. b) All-in sustaining costs in 2021 have averaged $883 per ounce gold sold through Q3. c) Sustaining capital expenditures in 2021 have totaled $59.2 million (including $33.9 million of capitalized waste) through Q3. d) Non-sustaining capital expenditures in 2021 have totaled $111.5 million (including $80.4 million of capital expenditures for Media Luna) through Q3. Jody Kuzenko, President and CEO of Torex, stated: “We expect 2022 to be another solid year for Torex as we continue to build on our reputation as a profitable, safe, reliable, and consistent operator. Our guided gold production for 2022 is consistent with the range set out within our inaugural 3-year outlook issued in Se...