Torex Gold Delivers on Full-Year Production Guidance
Torex Gold Resources (TSX: TXG) achieved its full-year production guidance for the sixth consecutive year, reporting 452,523 ounces of gold production in 2024, within the revised guidance range of 450,000 to 470,000 oz. Fourth quarter production reached 103,795 oz, with gold sales of 108,647 oz.
Operations were temporarily suspended for over a week in December following a tragic incident at ELG Underground that resulted in the loss of three colleagues. Despite this setback, the company maintained strong operational performance, with consistent mill performance and robust mining rates at ELG Underground. The main El Limón pit concluded operations in Q4, with El Limón Sur pit expected to be exhausted in H1 2025.
Looking ahead to 2025, Torex plans to complete the Media Luna Project, begin EPO development, increase drilling and exploration investment, and expects to return to positive free cash flow by mid-year.
Torex Gold Resources (TSX: TXG) ha raggiunto le sue previsioni di produzione annuale per il sesto anno consecutivo, riportando 452.523 once di produzione di oro nel 2024, rientrando nell'intervallo di guida rivisto tra 450.000 e 470.000 once. La produzione del quarto trimestre ha raggiunto 103.795 once, con vendite di oro pari a 108.647 once.
Le operazioni sono state temporaneamente sospese per oltre una settimana a dicembre a seguito di un tragico incidente all'ELG Underground che ha causato la perdita di tre colleghi. Nonostante questo contrattempo, l'azienda ha mantenuto forti prestazioni operative, con una performance costante del molino e robusti tassi di estrazione all'ELG Underground. L'attività principale della miniera El Limón si è conclusa nel quarto trimestre, con l'attesa che la miniera El Limón Sur venga esaurita nel primo semestre del 2025.
Guardando al 2025, Torex prevede di completare il Media Luna Project, avviare lo sviluppo dell'EPO, aumentare gli investimenti in perforazione ed esplorazione, e si aspetta di tornare a un flusso di cassa libero positivo entro metà anno.
Torex Gold Resources (TSX: TXG) alcanzó su guía de producción anual por sexto año consecutivo, reportando 452,523 onzas de producción de oro en 2024, dentro del rango de guía revisado de 450,000 a 470,000 onzas. La producción del cuarto trimestre alcanzó las 103,795 onzas, con ventas de oro de 108,647 onzas.
Las operaciones se suspendieron temporalmente por más de una semana en diciembre tras un trágico incidente en ELG Underground que resultó en la pérdida de tres colegas. A pesar de este contratiempo, la empresa mantuvo un sólido rendimiento operativo, con un desempeño constante del molino y robustas tasas de minería en ELG Underground. La principal mina El Limón concluyó operaciones en el cuarto trimestre, con la expectativa de que la mina El Limón Sur se agote en la primera mitad de 2025.
De cara a 2025, Torex planea completar el Proyecto Media Luna, iniciar el desarrollo del EPO, aumentar la inversión en perforación y exploración, y espera volver a un flujo de caja libre positivo a mediados de año.
Torex Gold Resources (TSX: TXG)는 여섯 번째 연속으로 연간 생산 가이드를 달성하며 2024년에 452,523온스의 금 생산을 보고했습니다. 이는 수정된 가이드 범위인 450,000에서 470,000온스 내에 있습니다. 4분기 생산은 103,795온스에 도달했으며, 금 판매는 108,647온스에 이릅니다.
작년 12월 ELG Underground에서 발생한 비극적인 사고로 인해 작업이 일주일 이상 중단되었습니다. 이 사고로 세 명이 희생되었습니다. 이러한 불행한 상황에도 불구하고 회사는 ELG Underground에서 안정적인 공장 성능과 튼튼한 채굴 비율을 유지하며 강력한 운영 성과를 지속했습니다. 주요 El Limón 광산의 운영은 4분기에 종료되었으며, El Limón Sur 광산은 2025년 상반기까지 고갈될 것으로 예상됩니다.
2025년을 바라보며, Torex는 Media Luna Project를 완료하고, EPO 개발을 시작하며, 드릴링 및 탐사 투자 확대를 계획하고 있으며, 연중반까지 양성 자유 현금 흐름으로 돌아올 것으로 예상하고 있습니다.
Torex Gold Resources (TSX: TXG) a atteint ses prévisions de production annuelle pour la sixième année consécutive, signalant 452 523 onces de production d'or en 2024, dans la fourchette révisée des prévisions de 450 000 à 470 000 onces. La production du quatrième trimestre a atteint 103 795 onces, avec des ventes d'or de 108 647 onces.
Les opérations ont été temporairement suspendues pendant plus d'une semaine en décembre suite à un tragique incident survenu à l'ELG Underground, qui a entraîné la perte de trois collègues. Malgré ce revers, l'entreprise a maintenu de solides performances opérationnelles, avec un fonctionnement constant des usines et des taux d'extraction robustes à l'ELG Underground. L'exploitation de la principale mine El Limón a été achevée au quatrième trimestre, la mine El Limón Sur devant être épuisée au premier semestre 2025.
En regardant vers 2025, Torex prévoit de terminer le projet Media Luna, de commencer le développement de l'EPO, d'augmenter les investissements dans le forage et l'exploration, et s'attend à retrouver un flux de trésorerie positif d'ici le milieu de l'année.
Torex Gold Resources (TSX: TXG) hat zum sechsten Mal in Folge seine Jahresproduktionsprognose erreicht und berichtete 2024 über 452.523 Unzen Goldproduktion, innerhalb des überarbeiteten Prognosebereichs von 450.000 bis 470.000 Unzen. Die Produktion des vierten Quartals erreichte 103.795 Unzen, mit Goldverkäufen von 108.647 Unzen.
Die Operations wurden im Dezember aufgrund eines tragischen Vorfalls im ELG Underground, der zum Verlust von drei Kollegen führte, vorübergehend mehr als eine Woche lang ausgesetzt. Trotz dieses Rückschlags hielt das Unternehmen eine starke operative Leistung aufrecht, mit konstanten Mühlenleistungen und robusten Abbauraten im ELG Underground. Der Hauptbetrieb der El Limón-Grube wurde im 4. Quartal eingestellt, wobei die Erschöpfung der El Limón Sur-Grube im ersten Halbjahr 2025 erwartet wird.
Für 2025 plant Torex den Abschluss des Media Luna Projects, den Beginn der EPO-Entwicklung, eine Erhöhung der Investitionen in Bohr- und Explorationsaktivitäten und erwartet, bis zur Jahresmitte wieder einen positiven Cashflow zu erreichen.
- Achieved annual production guidance of 452,523 oz, within target range
- Strong mining rates at ELG Underground with expected upside in 2025
- Expected return to positive free cash flow by mid-2025
- Week-long operations suspension in December due to fatal incident
- Declining mining rates in ELG Open Pits
- El Limón Sur pit approaching exhaustion in H1 2025
2024 marks the sixth consecutive year production guidance has been achieved
Toronto, Ontario--(Newsfile Corp. - January 8, 2025) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG) reports fourth quarter gold production of 103,795 ounces ("oz") and full-year gold production of 452,523 oz, within the Company's revised guidance range of 450,000 to 470,000 oz (original guidance of 400,000 to 450,000 oz). Fourth quarter and full-year gold sold were 108,647 oz and 455,932 oz, respectively.
TABLE 1: PRELIMINARY FOURTH QUARTER AND FULL-YEAR 2024 OPERATIONAL RESULTS
| Q4 2024 | FY 2024 | ||
| Mining | |||
| ELG Open Pits - Ore tonnes mined per day | tpd | 9,256 | 13,611 |
| ELG Open Pits - Waste tonnes mined per day | tpd | 16,830 | 57,120 |
| ELG Open Pits - Strip ratio | waste:ore | 1.8 | 4.2 |
| ELG Underground - Ore tonnes mined per day | tpd | 2,248 | 2,092 |
| Processing | |||
| Average plant throughput | tpd | 11,894 | 12,777 |
| Average gold recovery | % | 90.5 | 90.6 |
| Average gold grade of ore processed | gpt | 3.32 | 3.32 |
| Gold produced | oz | 103,795 | 452,523 |
| Gold sold | oz | 108,647 | 455,932 |
Operational results are preliminary in nature and subject to final reconciliation. Financial and operational results for the fourth quarter and year-end 2024 will be released after market close on Wednesday, February 19, 2025. 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:
"December was a difficult month for Torex with the loss of three colleagues at ELG Underground. In the wake of the tragedy, operations were suspended for just over a week to allow for inspections by the relevant government agencies. While operations have since resumed, our own internal investigation is ongoing.
"With the temporary suspension of operations, we produced 103,795 oz of gold during the fourth quarter. Against the backdrop of solid operational performance through the first three quarters of the year, full-year gold production was 452,523 oz, putting us within the annual production guidance range for the sixth consecutive year.
"Excluding the downtime in December, the operations performed well, with consistent performance at the mill matched by continued strong mining rates at ELG Underground, where we expect further upside in 2025 as we add some long-hole stopes into the mine plan. The decline in mining rates in the ELG Open Pits was anticipated as we took the last blast in the main El Limón pit during the quarter, with the smaller El Limón Sur pit expected to be exhausted during the first half of 2025.
"As we work to reset the bar on safety at Torex, the year ahead is set to be transformational as we complete the Media Luna Project, commence development of EPO, further increase investment in drilling and exploration, pivot back to positive free cash flow mid-year, and refine our return of capital strategy, all with the goal of unlocking value and further enhancing returns for our shareholders."
FOURTH QUARTER AND YEAR-END 2024 CONFERENCE CALL AND WEBCAST DETAILS
Torex plans to release its fourth quarter and year-end financial and operational results after market close on Wednesday, February 19, 2025. A conference call and webcast hosted by senior management will be held on February 20, 2025 at 9:00 AM ET.
Telephone Access
For expedited access to the conference call, pre-registration is open to obtain an access code in advance, which will allow participants to join the call directly at the scheduled time.
Alternatively, dial-in details are as follows:
- Toronto local or International: 1-647-484-8814
- Toll-Free (North America): 1-844-763-8274
Webcast Access
A webcast and replay will be available on the Company's website at www.torexgold.com/investors/upcoming-events/.
ABOUT TOREX GOLD RESOURCES INC.
Torex is an intermediate gold producer based in Canada, engaged in the exploration, development, and operation of its
FOR FURTHER INFORMATION, PLEASE CONTACT:
TOREX GOLD RESOURCES INC.
Jody Kuzenko
President and CEO
Direct: (647) 725-9982
jody.kuzenko@torexgold.com
Dan Rollins
Senior Vice President, Corporate Development & Investor Relations
Direct: (647) 260-1503
dan.rollins@torexgold.com
CAUTIONARY NOTES ON FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements that: at ELG Underground, the Company expects further upside in 2025 as the Company adds some long-hole stopes into the mine plan; the El Limón Sur pit expected to be exhausted during the first half of 2025; the year ahead is set to be transformational as the Company completes the Media Luna Project, commences development of EPO, further increases investment in drilling and exploration, pivots back to positive free cash flow mid-year, and refines its return of capital strategy, all with the goal of unlocking value and further enhancing returns for the Company's shareholders; and Torex's key strategic objectives are to integrate and optimize the Morelos Property; deliver Media Luna to full production; grow reserves and resources; disciplined growth and capital allocation; retain and attract best industry talent; and build on ESG excellence. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "aim", "expects", "goal", "strategic objectives", or variations of such words and phrases or statements such as "looks forwards to" that certain actions, events or results are expected to occur. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including, without limitation, risks and uncertainties identified in the Company's technical report (the "Technical Report") released on March 31, 2022, entitled "NI 43-101 Technical Report ELG Mine Complex Life of Mine Plan and Media Luna Feasibility Study", which has an effective date of March 16, 2022, Company's annual information form ("AIF") and management's discussion and analysis ("MD&A") or other unknown but potentially significant impacts. Forward-looking information is based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, whether as a result of new information or future events or otherwise, except as may be required by applicable securities laws. The Technical Report, AIF and MD&A are filed on SEDAR+ at www.sedarplus.ca and available on the Company's website at www.torexgold.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236435
FAQ
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