- Torex Gold released its Q2 financial results this week, reporting quarterly gold sales of ~111,400 ounces at all-in sustaining costs of $897/oz.
- This solid performance translated to all-in sustaining cost margins of more than $900/oz, and a record trailing-twelve-month free cash flow figure of ~$225 million.
- To de-risk the transition to mining at ML, the company has chosen to complete a small push back at EL, and to focus on traditional development/mining vs. Muckahi for now.
- I continue to see Torex Gold as one of the most attractive values in the sector at a ~24% free cash flow yield, but a conservative position size is key, given that the company is a single-asset miner in a Tier-2 jurisdiction.
For further details see:
Torex Gold: A Solid Quarter And A De-Risked Plan In Place