- Torex released its preliminary Q2 results last week, reporting quarterly gold production of ~118,100 ounces, and gold sales of ~111,000 ounces at $1,815/oz.
- Notably, underground mining rates continue to improve at El-Limon Guajes, with the company's Q2 mining rate coming in at 1,420 tonnes per day, a first for the company.
- Based on H1 gold production of ~247,600 ounces, Torex is on track to trounce its guidance mid-point, yet trades at one of the lowest valuations in the sector.
- With Torex sitting at a ~28% free cash flow yield based on estimated trailing-twelve-month free cash flow of ~$220 million, I continue to see this share-price weakness as a low-risk buying opportunity.
For further details see:
Torex Gold: A Mid-Tier Producer With A High Double-Digit Free Cash Flow Yield