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Torex Reports Record Quarterly Gold Production

Kitco News

(Kitco News) - Torex Gold Resources Inc. (TSX: TXG) posted record gold production of 113,600 ounces during the second quarter, the company announced Tuesday.

The tally was 12% higher than the previous record set in the third quarter of 2018, officials said. This brought first-half gold sales to over 189,800 ounces at an average realized price of $1,309 per ounce.

As a result, Torex reiterated its full-year sales guidance of 430,000 ounces, adding that this is weighted toward the second half of 2019.

“Q2 was a notable quarter from a number of perspectives,” said Fred Stanford, president and chief executive officer.

Besides the quarterly record, he noted that the company surpassed the 1 million-ounce milestone during the April-June quarter.

“Throughout the quarter, the processing team made progress in reducing reagent consumption, and late in the quarter they made improvements in throughput rates per hour,” Stanford said. “Overall, quarterly throughput was hampered by unrelated unplanned downtime in late June. The team has work to do to increase the predictive and preventative aspects of maintenance.”

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