(Kitco News) - On Wednesday, Torex Gold (TSX: TXG) reported Q2 2022 gold production of 123,180 ounces from its El Limón Guajes mine in Mexico, a 4% increase compared to 118,050 ounces produced in Q2 2021.
Importantly, Torex said that with 235,620 ounces produced during the first half of 2022, the company is firmly on track to deliver on full year production guidance of 430,000 to 470,000 ounces.
President and CEO Jody Kuzenko commented, "We had another strong quarter operationally during Q2 with gold production of 123,180 ounces. The better-than-expected result was driven by higher grades from the ELG Open Pits and record ore production from the ELG Underground. During the quarter, the ELG Underground achieved an average mining rate of 1,580 tonnes per day, surpassing the prior record of 1,430 tonnes per day achieved in Q2 2021.
"Plant performance was consistent, with relatively steady throughput at modestly higher recoveries quarter-over-quarter, in line with expectations as mining in the Guajes open pit transitions away from an area of lower recovery ore."
She also said that at Media Luna, construction is well underway with long-lead procurement and earthworks on schedule, adding that overall, the project is well on track.
Torex is an intermediate gold producer based in Canada, engaged in the exploration, development, and operation of its 100% owned Morelos Property, an area of 29,000 hectares in the prospective Guerrero Gold Belt located 180 kilometres southwest of Mexico City.
The company's principal asset is the Morelos Complex, which includes the El Limón Guajes ("ELG") Mining Complex, Media Luna Project, processing plant and related infrastructure.
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