- Torex Gold Resources (TSX:TXG) reported its Q3 2023 gold production results and expects Q4 to be the highest production quarter of the year
- Q3 gold production was 85,360 ounces (oz), gold sold was 81,752 oz, and year-to-date gold production was 315,785 oz
- The company stated that it remains on track to achieve annual production guidance of 440,000 to 470,000 oz
- Torex Gold Resources Inc. opened trading at C$14.62 per share
Torex Gold Resources (TSX:TXG) reported its Q3 2023 gold production results and expects Q4 to be the highest production quarter of the year.
Q3 gold production was 85,360 ounces (oz), gold sold was 81,752 oz, and year-to-date gold production was 315,785 oz.
The company stated that it remains on track to achieve annual production guidance of 440,000 to 470,000 oz.
Preliminary Q3 2023 operational results:
|
|
Q3 2023 |
| Mining |
|
|
| ELG Open Pits – Ore tonnes mined |
tpd |
11,153 |
| ELG Open Pits – Waste tonnes mined |
tpd |
110,122 |
| ELG Open Pits – Strip ratio |
waste:ore |
9.9 |
| ELG Underground – Ore tonnes mined |
tpd |
2,321 |
| Processing |
|
|
| Total tonnes processed |
tpd |
13,107 |
| Average gold recovery |
per cent |
88.7 |
| Average gold grade of ore processed |
gpt |
2.47 |
| Gold produced |
oz |
85,360 |
| Gold sold |
oz |
81,752 |
“The third quarter was challenging as the team pushed through the final months of the high-strip, low-grade phase of the open pit mine plan, which continued to require the processing of lower-grade and stockpiled material to top up the mill,” Torex President and CEO Jody Kuzenko saidin a news release. “Notwithstanding the short-term challenges associated with strip and grade, the operations continue to deliver with excellence. ELG Underground set another record with an average mining rate of 2,321 tonnes per day (tpd) during the quarter, surpassing the 1,913 tpd record achieved in the prior quarter and affirming our expectations for underground mining rates to consistently achieve 2,000 tpd. Plant performance was also solid, with throughput exceeding 13,000 tpd and recoveries steady despite the lower processed grades.”
Financial and operational results for Q3 2023 will be released after market close on Nov. 14.
Torex Gold Resources Inc. is an intermediate gold producer focused on the exploration, development, and operation of its 100-per-cent-owned Morelos Property, southwest of Mexico City.
Torex Gold Resources Inc. opened trading at C$14.62 per share and has risen 44.7 per cent since this time last year.
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