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Torex Gold's Q2 gold output slips YOY

Torex Gold Resources Inc.'s gold production totaled 74,487 ounces in the second quarter as ramp-up continues at its El Limon-Guajes mine in southwest Mexico, the company said Aug. 10.

In the same year-ago quarter, the company produced 83,256 ounces of gold.

Mine production in the quarter totaled 8.4 million tonnes, averaging 92,044 tonnes per day, while gold recovery averaged 86%.

Sales of gold in the quarter totaled 68,398 ounces for total proceeds of US$84.9 million at an average realized gold price of US$1,241 per ounce.

Total cash costs in the quarter stood at US$706 per ounce of gold sold, and all-in sustaining costs stood at US$991 per ounce of gold sold.

The company expects to be at the low end of the annual guidance for ounces and at the higher end for costs per ounce.