{"id":473413,"date":"2021-04-08T06:03:27","date_gmt":"2021-04-08T10:03:27","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=473413"},"modified":"2021-04-08T06:03:27","modified_gmt":"2021-04-08T10:03:27","slug":"torex-gold-reports-strong-operational-start-to-the-year","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/torex-gold-reports-strong-operational-start-to-the-year\/","title":{"rendered":"Torex Gold Reports Strong Operational Start to the Year"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">Delivers Highest First Quarter of Production to Date<br \/>(All amounts expressed in U.S. Dollars unless otherwise stated)<\/p>\n<p align=\"justify\">TORONTO, April  08, 2021  (GLOBE NEWSWIRE) &#8212; Torex Gold Resources Inc. (the \u201cCompany\u201d or \u201cTorex\u201d) (TSX: TXG) reports Q1 2021 gold production of 129,500 ounces, which is the Company\u2019s highest first quarter of production on record. During the quarter, Torex sold 129,010 ounces of gold at an average realized price of $1,775 per ounce.<\/p>\n<p align=\"justify\">With the strong start to the year, Torex is well-positioned to achieve full year production guidance of 430,000 to 470,000 ounces of gold in 2021.<\/p>\n<p align=\"justify\">\n        <strong>TABLE 1: Q1 2021 OPERATIONAL HIGHLIGHTS<\/strong>\n      <\/p>\n<table style=\"border-right: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>Q1 2021<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">Gold Produced<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">oz<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">129,500<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">Average Plant Throughput<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">tpd<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">12,340<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">Average Underground Ore Mined<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">tpd<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">1,360<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">Average Open Pit Ore Mined<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">tpd<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">15,090<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">Strip Ratio<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">waste:ore<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">7.4:1<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">The Company plans to release its first quarter 2021 financial and operational results early morning on Thursday, May 13, 2021, followed later in the 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.<\/p>\n<p align=\"justify\">Jody Kuzenko, President &amp; CEO of Torex, stated:<\/p>\n<p align=\"justify\">\u201cThe operational momentum gained in H2 2020 has continued, with the team delivering the strongest first quarter of gold production on record. The open pits and underground continued to deliver solid, reliable performance, with the underground achieving a new quarterly record of ore mined. The process plant achieved a record monthly milling rate in March of 13,810 tonnes per day.<\/p>\n<p align=\"justify\">\u201cThe strong operational results were matched by an equally solid safety performance, with no lost time injuries in the quarter. Our culture of safety continues to be reflected in ongoing adherence to our multi-layered COVID-19 protocols, to ensure business continuity and mitigate spread of the virus within our operations and host communities.<\/p>\n<p align=\"justify\">\u201cAs outlined during our Q4 2020 conference call, operating cash flow is expected to be weighted towards the second half of the year, given tax and royalty payments in Q1 and profit-sharing payment in Q2. We have never been in a stronger financial position with our remaining long-term debt paid in the quarter and the refinancing of our debt facility, providing us with significant financial flexibility to develop Media Luna, potential M&amp;A and continue the exploration program on the Morelos property.<\/p>\n<p align=\"justify\">\u201cWe continue to demonstrate our ability as a team to deliver excellence on a consistent basis. With such a strong start in the first quarter we are well positioned to deliver on 2021 guidance.\u201d<\/p>\n<p>\n        <strong>FIRST QUARTER 2021 CONFERENCE CALL AND WEBCAST DETAILS<\/strong>\n      <\/p>\n<p align=\"justify\">The Company plans to release first quarter 2021 financial and operational results before market open on Thursday, May 13, 2021. A conference call and webcast to discuss the results will be held the same day at 9:00 AM ET.<\/p>\n<p align=\"justify\">\n        <u>Telephone Access<\/u><br \/>\n        <br \/>Please join the conference call approximately ten minutes prior to the scheduled start time. Dial-in details for the conference call are as follows:<\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Toll-Free (North America): 1-800-319-4610<\/li>\n<li style=\"text-align:justify\">International: 1-416-915-3239<\/li>\n<\/ul>\n<p align=\"justify\">\n        <u>Webcast Access<\/u><br \/>\n        <br \/>A live webcast will be available on the Company\u2019s website at www.torexgold.com\/investors\/webcasts. The webcast will be archived on the Company\u2019s website.<\/p>\n<p align=\"justify\">\n        <strong>ABOUT TOREX GOLD RESOURCES INC.<\/strong><br \/>\n        <br \/>Torex is an intermediate gold producer based in Canada, engaged in the exploration, development, and operation of its 100% owned Morelos Gold Property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometers southwest of Mexico City. The Company\u2019s principal assets are the El Lim\u00f3n Guajes mining complex (\u201cELG\u201d or the \u201cELG Mine Complex\u201d) comprising the El Lim\u00f3n, Guajes and El Lim\u00f3n Sur open pits, the El Lim\u00f3n Guajes underground mine including zones referred to as Sub-Sill and El Lim\u00f3n Deep (\u201cELD\u201d), and the processing plant and related infrastructure, which commenced commercial production as of April 1, 2016, and the Media Luna deposit, which is an advanced stage development project, and for which the Company issued an updated preliminary economic assessment in September 2018. The property remains 75% unexplored.<\/p>\n<p align=\"justify\">\n        <strong>FOR FURTHER INFORMATION, PLEASE CONTACT:<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;border-collapse:collapse\">\n<tr>\n<td>TOREX GOLD RESOURCES INC.<\/td>\n<td>\u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Jody Kuzenko<br \/><\/strong>President and CEO<br \/>Direct: (647) 725-9982<br \/>jody.kuzenko@torexgold.com<strong><br \/><\/strong><\/td>\n<td>\u00a0<\/td>\n<td>\n            <strong>Dan Rollins<\/strong><br \/>\n            <br \/>Vice President, Corporate Development &amp; Investor Relations<br \/>Direct: (647) 260-1503<br \/>dan.rollins@torexgold.com<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <strong>CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION<br \/><\/strong>This press release contains &#8220;forward-looking statements&#8221; and &#8220;forward-looking information&#8221; within the meaning of applicable Canadian securities legislation. While the Company intends to advance the Media Luna project to production in the first quarter of 2024 and has taken the decision to commence the early works program to maintain the schedule to first production, the Company has not taken a production decision in advance of completing the Feasibility Study for Media Luna. Forward-looking information also includes, but is not limited to, statements that: Torex is well-positioned to achieve full year production guidance of 430,000 to 470,000 ounces of gold in 2021; ongoing adherence to our multi-layered COVID-19 protocols, to ensure business continuity and mitigate spread of the virus within our operations and host communities; operating cash flow is expected to be weighted towards the second half of the year; the Company\u2019s stronger financial position, and the refinancing of our debt facility, providing the Company with significant financial flexibility to develop Media Luna, potential M&amp;A and continue the exploration program on the Morelos property; and Torex is well positioned to deliver on 2021 guidance . Generally, forward-looking information can be identified by the use of forward-looking terminology such as &#8220;expects&#8221;, \u201ccontinues\u201d, \u201congoing\u201d or variations of such words and phrases or statements that certain actions, events or results \u201cwill\u201d, \u201cis expected to&#8221; or \u201cwell positioned to\u201d 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, those risk factors identified in the technical report titled \u201cNI 43-101 Technical Report ELG Mine Complex Life of Mine Plan and Media Luna Preliminary Economic Assessment\u201d dated effective March 31, 2018 (the \u201cTechnical Report\u201d) and the Company\u2019s annual information form (\u201cAIF\u201d) and management\u2019s discussion and analysis (\u201cMD&amp;A\u201d) or other unknown but potentially significant impacts. Notwithstanding the Company&#8217;s efforts, there can be no guarantee that the Company\u2019s measures to protect employees and surrounding communities from COVID-19 will be effective. Forward-looking information are based on the assumptions discussed in the Technical Report, AIF and MD&amp;A and such other reasonable assumptions, estimates, analysis 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.<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMzIxNSM0MTEwNTA0IzIwOTM5MDE=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/1ea62599-11de-4b79-a26c-37aa4eb6d46e\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Delivers Highest First Quarter of Production to Date(All amounts expressed in U.S. Dollars unless otherwise stated) TORONTO, April 08, 2021 (GLOBE NEWSWIRE) &#8212; Torex Gold Resources Inc. (the \u201cCompany\u201d or \u201cTorex\u201d) (TSX: TXG) reports Q1 2021 gold production of 129,500 ounces, which is the Company\u2019s highest first quarter of production on record. During the quarter, Torex sold 129,010 ounces of gold at an average realized price of $1,775 per ounce. With the strong start to the year, Torex is well-positioned to achieve full year production guidance of 430,000 to 470,000 ounces of gold in 2021. TABLE 1: Q1 2021 OPERATIONAL HIGHLIGHTS \u00a0 \u00a0 Q1 2021 Gold Produced oz 129,500 Average Plant Throughput tpd 12,340 Average Underground Ore Mined tpd 1,360 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/torex-gold-reports-strong-operational-start-to-the-year\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Torex Gold Reports Strong Operational Start to the Year&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-473413","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Torex Gold Reports Strong Operational Start to the Year - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/torex-gold-reports-strong-operational-start-to-the-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Torex Gold Reports Strong Operational Start to the Year - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Delivers Highest First Quarter of Production to Date(All amounts expressed in U.S. Dollars unless otherwise stated) TORONTO, April 08, 2021 (GLOBE NEWSWIRE) &#8212; Torex Gold Resources Inc. (the \u201cCompany\u201d or \u201cTorex\u201d) (TSX: TXG) reports Q1 2021 gold production of 129,500 ounces, which is the Company\u2019s highest first quarter of production on record. During the quarter, Torex sold 129,010 ounces of gold at an average realized price of $1,775 per ounce. With the strong start to the year, Torex is well-positioned to achieve full year production guidance of 430,000 to 470,000 ounces of gold in 2021. TABLE 1: Q1 2021 OPERATIONAL HIGHLIGHTS \u00a0 \u00a0 Q1 2021 Gold Produced oz 129,500 Average Plant Throughput tpd 12,340 Average Underground Ore Mined tpd 1,360 &hellip; Continue reading &quot;Torex Gold Reports Strong Operational Start to the Year&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/torex-gold-reports-strong-operational-start-to-the-year\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-08T10:03:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMzIxNSM0MTEwNTA0IzIwOTM5MDE=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/torex-gold-reports-strong-operational-start-to-the-year\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/torex-gold-reports-strong-operational-start-to-the-year\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Torex Gold Reports Strong Operational Start to the Year\",\"datePublished\":\"2021-04-08T10:03:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/torex-gold-reports-strong-operational-start-to-the-year\\\/\"},\"wordCount\":1201,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/torex-gold-reports-strong-operational-start-to-the-year\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODIxMzIxNSM0MTEwNTA0IzIwOTM5MDE=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/torex-gold-reports-strong-operational-start-to-the-year\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/torex-gold-reports-strong-operational-start-to-the-year\\\/\",\"name\":\"Torex Gold Reports Strong Operational Start to the Year - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/torex-gold-reports-strong-operational-start-to-the-year\/","og_locale":"en_US","og_type":"article","og_title":"Torex Gold Reports Strong Operational Start to the Year - Market Newsdesk","og_description":"Delivers Highest First Quarter of Production to Date(All amounts expressed in U.S. Dollars unless otherwise stated) TORONTO, April 08, 2021 (GLOBE NEWSWIRE) &#8212; Torex Gold Resources Inc. (the \u201cCompany\u201d or \u201cTorex\u201d) (TSX: TXG) reports Q1 2021 gold production of 129,500 ounces, which is the Company\u2019s highest first quarter of production on record. During the quarter, Torex sold 129,010 ounces of gold at an average realized price of $1,775 per ounce. With the strong start to the year, Torex is well-positioned to achieve full year production guidance of 430,000 to 470,000 ounces of gold in 2021. TABLE 1: Q1 2021 OPERATIONAL HIGHLIGHTS \u00a0 \u00a0 Q1 2021 Gold Produced oz 129,500 Average Plant Throughput tpd 12,340 Average Underground Ore Mined tpd 1,360 &hellip; Continue reading \"Torex Gold Reports Strong Operational Start to the Year\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/torex-gold-reports-strong-operational-start-to-the-year\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-08T10:03:27+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMzIxNSM0MTEwNTA0IzIwOTM5MDE=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/torex-gold-reports-strong-operational-start-to-the-year\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/torex-gold-reports-strong-operational-start-to-the-year\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Torex Gold Reports Strong Operational Start to the Year","datePublished":"2021-04-08T10:03:27+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/torex-gold-reports-strong-operational-start-to-the-year\/"},"wordCount":1201,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/torex-gold-reports-strong-operational-start-to-the-year\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMzIxNSM0MTEwNTA0IzIwOTM5MDE=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/torex-gold-reports-strong-operational-start-to-the-year\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/torex-gold-reports-strong-operational-start-to-the-year\/","name":"Torex Gold Reports Strong Operational Start to the Year - 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