Torex Gold Hits Guidance Despite Multi-Week Shutdown After Fatalities
Torex Gold (TSX: TXG) managed to achieve its revised production guidance despite a major incident at its Morelos Complex in the fourth quarter, which saw the loss of three employees.
Production for the fourth quarter hit 103,795 ounces, a decline of 13% compared to the third quarter, which can be attributed to a multi-week shutdown as a result of the incident at Morelos. Sales meanwhile hit 108,647 ounces of gold in Q4.
For the full year, Torex achieved production of 452,523 ounces, hitting its revised guidance range of 450,000 to 470,000 ounces, while beating the original guidance of 400,000 to 450,000 ounces. Gold recoveries averaged 90.6% over the course of the year, at average grades of 3.32 g/t gold.
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Full financial results are slated to be released after markets close on February 19, 2025.
Torex Gold last traded at $29.04 on the TSX.
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