This evening, Torex released our Q3 results – it was another solid operational quarter with exceptionally strong financial results. Key highlights are as follows: ✅ Robust all-in sustaining costs margin of 52% ✅ Generated $113 million in cash prior to spending $114 million on Media Luna, which means we generated nearly enough cash to cover our quarterly spend on the project ✅ Exited Q3 with available liquidity of $347 million, which is essentially unchanged from Q2 ✅ Produced 119,412 ounces of gold in the quarter – putting us at 348,728 ounces produced year to date – and well on track to meet annual production guidance for the sixth year in a row ✅ With this solid financial and operational performance, we are comfortably positioned to fund the remaining spend on the Media Luna Project and pivot back to free cash flow in mid-2025 We want to thank all of our shareholders, partners and everyone that follows Torex for your trust and interest in what we are up to. Our continued strong performance supports strong value generation as we work to continue to build decades of mine life at Morelos, explore value accretive opportunities through our disciplined growth strategy and consider avenues to return capital to shareholders. Exciting things are ahead - please continue to follow us! 👍 https://lnkd.in/djmYU3wz
Jon W.
3mo
Well done Torex Gold Resources Inc team!
Mike Mayhew
3mo
Congratulations team Torex.
Raziel Zisman
3mo
Congratulations!
Rafael G.
3mo
¡Felicidades!
Alfonso Rico
3mo
Congrats!
consultant on safety,project management, O.R. and risk assessment
3moWell done Jody and the Torex team fantastic results a true result of excellence safety with true leadership and systems that have true employee engagement equal fantastic production results