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Torex Gold Resources Reports Strong Close to 2023; Production guidance achieved for the fifth consecutive year
Production guidance achieved for the fifth consecutive year; Q4 marks second-highest quarter of production to date Toronto, Ontario--(Newsfile Corp. - January 9
About this update from Torex Gold Resources Inc.
[{"type":"text","content":" Production guidance achieved for the fifth consecutive year; Q4 marks second-highest quarter of production to date Toronto, Ontario--(Newsfile Corp. - January 9, 2024) - Torex Gold Resources Inc. (the \"Company\" or \"Torex\") (TSX: TXG) reports gold production of 137,993 ounces during the fourth quarter, and full-year gold production of 453,778 ounces, near the midpoint of the guided range of 440,000 to 470,000 ounces. Gold sold during the quarter was 138,794 ounces resulting in full-year gold sales of 444,750 ounces. The difference between gold sold versus produced was due to the timing of pours at year end. TABLE 1: PRELIMINARY FOURTH QUARTER AND FULL-YEAR 2023 OPERATIONAL RESULTS Q4 2023 FY 2023 Mining ELG Open Pits - Ore tonnes mined per day tpd 19,404 11,976 ELG Open Pits - Waste tonnes mined per day tpd 85,224 102,830 ELG Open Pits - Strip ratio waste:ore 4.4 8.6 ELG Underground - Ore tonnes mined per day tpd 2,300 2,070 Processing Average plant throughput tpd 13,236 13,178 Average gold recovery % 89.5 88.6 Average gold grade of ore processed gpt 4.03 3.29 Gold produced oz 137,993 453,778 Gold sold oz 138,794 444,750 Operational results are preliminary in nature and subject to final reconciliation. Financial and operational results for the fourth quarter and year end 2023 will be released after market close on Wednesday, February 21, 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 closed out 2023 on a high note with gold production of 137,993 ounces during the fourth quarter, the second-highest production quarter on record. With this strong finish, the team delivered on full-year production guidance for the fifth straight year. The operational performance was matched by an equally impressive safety performance, with no lost-time injuries at ELG or the Media Luna Project for the second quarter in a row. \"A number of operational records were broken this year. The operational momentum in ELG Underground continued with an average mining rate of 2,300 tonnes per day (\"tpd\") during ...