- Torex Gold released its preliminary Q3 results last week, reporting quarterly production of ~111,200 ounces, setting the company up for a beat on its FY21 production guidance midpoint.
- Meanwhile, the company also provided an update at Media Luna, with continued progress on early works, with the ML Technical Report scheduled for Q1 2022.
- With Torex trading at a more than 20% FY2022 free cash flow yield and a less than 0.70x P/NAV, the stock continues to be one of the cheapest names sector-wide.
- Given the meaningful upside, if the company can deliver as planned at Media Luna with a smooth transition, I would view any pullbacks below US$10.00 as low-risk buying opportunities.
For further details see:
Torex Gold: Tracking Ahead Of FY2021 Guidance