2024-05-20 10:11:54 ET
Summary
- Torex Gold had a decent quarter in Q1 2024 and while costs were up, the company still enjoyed industry-leading AISC margins (~39%).
- Meanwhile, Torex continues to make solid progress at ML with construction over 70% complete & it is just six months away from 1st production with more than sufficient liquidity to completion.
- In this update, we'll dig into the Q1 results, recent developments and where the stock's updated low-risk buy zone lies:
We're nearly though the Q1 Earnings Season for the Gold Miners Index ( GDX ) and one of the more recent companies to report its results was Torex Gold ( TORXF )( TXG:CA ). Overall, the company had a solid start to the year with production tracking at ~26% of its guidance midpoint, with the company well on track to deliver on its guidance even adjusting for the softer Q4 due to a planned shutdown for tie-in of copper and iron flotation circuits. Meanwhile, the company continues to have one of the stronger balance sheets among its peer group despite being in the heart of spending on a significant development project (Media Luna), ending the quarter with ~$70 million in net cash....
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For further details see:
Torex Gold: A Free Cash Flow Machine Post-2024