CA - Torex Gold Resources beats Q1 top and bottom line estimates; on track to achieve full year guidance

2023-05-11 03:48:14 ET

• Torex Gold Resources press release ( OTCPK:TORXF ): Q1 Non-GAAP EPS of $0.59.
• Revenue of $228.8M (+10.2% Y/Y) beats by $1.67M .
• Generated EBITDA of $102.5 million and adjusted EBITDA of $132.7 million.
• Delivered gold production of 122,918 ounces for the quarter driven by a record milling rate of 13,073 tonnes per day and a record mining rate at ELG Underground of 1,738 tpd. This represents a strong start to the year and puts the Company on track to meet annual production guidance of 440,000 to 470,000 ounces.
• Sold 118,455 oz of gold at an average realized gold price of $1,899 per oz, contributing to revenue of $228.8 million.
• Total cash costs of $709 per oz sold and all-in sustaining costs of $1,079 per oz sold. All-in sustaining costs margin of $820 per oz sold, implying an all-in sustaining costs margin of 42%.
• Given the strong cost performance during the quarter, the Company is on track to achieve full year total cash costs guidance of $740 to $780 per oz and all-in sustaining costs guidance of $1,080 to $1,130 per ounce.

For further details see: