Torex reports strong start to 2023
Canada-based Torex Gold has reiterated its 2023 production guidance of 440 000 oz to 470 000 oz, following a strong start to the year with first-quarter output of 122 918 oz.
CEO Jody Kuzenko reports that first-quarter production was driven by record throughput in the processing plant and another record established on mining rates at El Limon Guajes (ELG) underground.
“Our ongoing focus on the maintenance strategy at the processing plant continues to improve output with the mill averaging 13 073 t/d during the quarter, surpassing the previous quarterly record of 13 063 t/d established in the second quarter of 2017.
“The momentum gained at the ELG underground over the last several quarters continued in the first quarter, with a record average mining rate of 1 738 t/d, surpassing the previous record of 1 685 t/d achieved during the prior quarter,” says Kuzenko.
Torex aims to achieve 1 800 t/d by the end of this year, and even further increase rates through 2024.
In addition to the strong production results, just over 12 months into a 33-month construction period, the Media Luna project remains on schedule and is tracking to budget.
Torex notes that a standalone Media Luna project update will be published ahead of its quarterly financial results.
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