Torex Gold (TXG.TO) has released its production results for the third quarter of this year, confirming an output of almost 120,000 ounces gold-equivalent. The company produced just over 95,000 payable ounces of gold, about half a million ounces of silver as well as 14 million payable pounds of copper. This brings the total YTD production to almost 270,000 ounces of gold-equivalent and Torex has now confirmed its full-year guidance of a production of 400,000-450,000 ounces gold-equivalent as it expects to end the year on a strong note.
The strong production results are related to the fast Media Luna ramp-up (which is ahead of plan) and this means the new mine could reach its designed mining rate of 7,500 tonnes per day by the summer of 2026 (or sooner). During the third quarter of the year, the average daily mining rate at Media Luna was just under 6,150 tonnes per day.
Disclosure: The author has no position in Torex Gold. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
