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Torex Gold Resources Inc T.TXG

Alternate Symbol(s):  TORXF

Metals & Mining Gold
Torex Gold Resources Inc. is a Canada-based intermediate gold producing company, which is engaged in the exploration, development, and operation of its 100% owned Morelos Gold Property. The Morelos Gold property covers an area of approximately 29,000 hectares in the prospective Guerrero Gold Belt located 180 kilometers southwest of Mexico City. The Company’s principal assets are the El Limon Guajes mining complex (ELG or the ELG Mine Complex), comprising the El Limon, Guajes and El Limon Sur open pits. The Company also hosts the Media Luna deposit, which is an advanced stage development project located approximately seven kilometers from ELG. The Company’s El Limon Guajes underground mine includes Sub-Sill and El Limon Deep, and processing plant and related infrastructure, and the Media Luna deposit.


TSX:TXG - Post by User

Torex Gold Resources Inc
Bullboard Posts
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(51)
•••
Post by dancheon Nov 02, 2011 10:35pm
286 Views
Post# 19204268

Scotia Update

Scotia Update

Event

¦ Torex released drill hole results from around the El Limon portion of its Morelos project

Implications

¦ The latest drill holes confirm continuity of mineralization around the south-eastern portion

of the ore body with intercepts such as 18 g/t over 8.0 m. In addition, a step-out hole to the

south-west indicates mineralization well outside the current resource outline.

¦ The drilling continues to give us confidence that definition of 5.0 Moz is achievable by

spring along with a feasibility study around mid-year.

¦ We do not believe 5.0 Moz of 3.2 g/t high-grade open pit material is priced in. Rather, we

feel Torex shares are exceedingly inexpensive given how much additional data is available

today compared to when the shares hit their 52-week high of $2.30/sh in March and gold

was $1,425/oz.

Recommendation

¦ We expect Torex shares to begin moving again following the exercise of the company's

warrants by November 12. This should remove any financing overhang concerns as it will

bring in nearly $60 million.

Bullboard Posts
Dealroom for high-potential pre-IPO opportunities