- Torex Gold released its Q4 and FY2020 results last week, reporting gold production of 430,500~ ounces at all-in sustaining costs of $924/oz.
- These exceptional results translated to a massive year for the company, with Torex having just reported $168.1 million in free cash flow for FY2020.
- Torex has a similar outlook for FY2021 and could easily exit FY2021 with over $425 million in cash, which could allow the company to explore the possibility of M&A.
- At current levels, Torex is trading at less than 6x free cash flow while amassing a significant cash position, and the valuation remains very compelling, even after accounting for single-asset risk.
For further details see:
Torex Gold: A Dirt-Cheap Valuation For This Mid-Tier Producer