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Torex plans to ramp-up gold production in 2021

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(Kitco News) - Torex Gold Resources (TSX: TXG) today provided its 2021 operational guidance.

The company said that its gold production in 2021 is expected to be between 430,000 ounces and 470,000 ounces, with the mid-point representing an increase over the 430,480 ounces delivered in 2020, which included an interruption in production in Q2 due to the COVID-19 pandemic.

The mid-point of 2021 guidance is in line with original 2020 guidance and 2019 performance of 454,810 ounces.

Total cash costs and all-in sustaining cash costs are expected to be in-line with the levels delivered in 2020.

President and CEO Jody Kuzenko commented, “As we continue our pattern of consistent and reliable operational performance on the heels of a guidance beat in 2020, we expect another year of strong cash flow in 2021. The strength of our underlying business will enable us to continue to execute on our plan – fully repay project debt and continue to strengthen our balance sheet, de-risk and advance Media Luna, and invest in other value accretive opportunities.”

Torex is an intermediate gold producer based in Canada, engaged in the mining, developing and exploring of its 100% owned Morelos gold property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometres southwest of Mexico City.

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