Torex Gold reports strongest Q1 production on record
(Kitco News) - Torex Gold (TSX: TXG) reported Q1 2021 gold production of 129,500 ounces, which is the company's highest first quarter of production on record. During the quarter, Torex sold 129,010 ounces of gold at an average realized price of $1,775 per ounce.
The company said that with the strong start to the year, Torex is well-positioned to achieve full year production guidance of 430,000 to 470,000 ounces of gold in 2021.
President & CEO Jody Kuzenko commented, "The operational momentum gained in H2 2020 has continued, with the team delivering the strongest first quarter of gold production on record. The open pits and underground continued to deliver solid, reliable performance, with the underground achieving a new quarterly record of ore mined. The process plant achieved a record monthly milling rate in March of 13,810 tonnes per day."
Torex is an intermediate gold producer based in Canada, engaged in the exploration, development, and operation of its 100% owned Morelos gold property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometers southwest of Mexico City. The company's principal asset is the El Limón Guajes mining complex, which commenced commercial production as of April 1, 2016.