Canada-based Torex has kicked off 2024 with robust performance, achieving March quarterly gold production that aligns with its plans.
The company, which mines in Mexico, produced 115 494 oz and sold 111 642 oz in the March quarter. Torex is on track to achieve its guidance of 400 000 oz to 450 000 oz for the year.
“We delivered these ounces safely, exiting the quarter with one lost-time ankle injury at the Media Luna project and reaching 14-million hours lost-time injury-free at ELG,” commented president and CEO Judy Kuzenko.
The processing plant achieved a new record with an average gold recovery of 90.7%. Throughput rates remained robust, surpassing 13 000 t/d for the fifth consecutive quarter, averaging 13 118 t/d.
Openpit production met expectations, with the strip ratio expected to decline further as the pits approach depletion.
Meanwhile, at ELG Underground, mining rates averaged 1 843 t/d owing to backfill priorities in the mine plan. Mining rates are expected to return to the now steady-state range of 2 000 t/d for the remainder of the year.
Looking ahead, Kuzenko expressed confidence in Torex’s performance for the rest of 2024.
"With continued stable performance expected from ELG in 2024, complemented by our plan to start processing ore from Media Luna in Q4, we are well-positioned to deliver on full year production guidance for the sixth consecutive year.”