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Torex reports record Q2'19 gold output, sales

Torex Gold Resources Inc. achieved record gold production of 113,645 ounces and sales of 113,419 oz in the second quarter from its Morelos gold property in Mexico, according to an Aug. 8 release.

Last year, the company produced 80,000 oz of gold from the property's El Limon-Guajes mine.

Proceeds from gold sales stood at US$149.0 million at an average realized gold price of US$1,314 per ounce. Total cash costs reached US$606/oz while all-in sustaining costs came in at US$760/oz.

The company said it is on track to meet its full-year sales guidance of 430,000 oz, with 7% variance, as well as its targets for total cash costs and all-in sustaining costs estimated at US$580/oz and US$790/oz, respectively.

Torex Gold said that with its open pit and underground mines running well, it is now focused on reducing unplanned downtimes at the processing plant to record higher mill throughput and lower unit costs.

The company also reported that it had a contaminated water spill in July. Remediation actions were carried out immediately, and no permanent environmental damage was done, it said.