Torex Gold (TSX: TXG) last night after the bell released their fourth quarter and full year 2025 production results. The quarter represented the second quarter in which Media Luna contributed to production.
Total production in the fourth quarter amounted to 115,066 ounces of gold equivalent, which was comprised of 93,557 ounces of gold, 454,200 ounces of silver, and 12.6 million pounds of copper. Q4 2024 comparatively saw the production of 103,795 ounces of gold. Fourth quarter sales meanwhile totaled 105,946 ounces of gold equivalent.
The fourth quarter saw the ELG underground mine average 3,175 tonnes per day of ore mined, while Media Luna averaged 7,052 tpd. The Morelos processing complex meanwhile averaged 10,705 tpd of processing capacity in Q4.
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For the full fiscal year, payable production came in at 376,586 ounces of gold equivalent, while sales totaled 361,518 ounces of gold equivalent. Production was down year over year, with 2024 recording production of 452,523 ounces of gold.
Guidance meanwhile had called for production of 400,000 to 450,000 ounces of gold equivalent production, which the company failed to meet.
“After a transformational year that saw us complete and successfully ramp up the Media Luna Project, we capped off 2025 with an excellent close to the year, with fourth quarter payable production of 115,066 oz AuEq based on average market prices for gold, silver, and copper. This resulted in second half payable production 234,100 oz AuEq at market prices, marking a significant step-up over first half payable production of 142,486 oz AuEq and reflecting the go-forward capability of the Morelos Complex, which will become even more evident when our updated five-year outlook is released in conjunction with 2026 operational guidance next week,” commented Jody Kuzenko, CEO of Torex Gold.
Torex at the same time indicated they repurchased 825,769 common shares in 2025 at an average price of $57 per share.
Full financial results for the fourth quarter and fiscal 2025 are scheduled to be released February 18 after the close of markets.
Torex Gold last traded at $69.12 on the TSX.
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