Torex Reports Second Quarter 2017 Financial And Operational Results

https://www.torexgold.com/news/torex-reports-second-quarter-2017-financial-and-operational-results

TORONTO, Ontario, August 10, 2017 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to report production of 74,487 ounces of gold and its financial results for the second quarter of 2017, as ramp-up continues at its El Limón Guajes Mine (ELG) in southwest Mexico. This release should be read in conjunction with the Company’s second quarter 2017 Financial Statements and MD&A on the Company’s website or on SEDAR.

Fred Stanford, President & CEO of Torex stated: “Q2, 2017 was an excellent operating quarter, with significant progress made in the ramp-up of the operations. The processing plant team increased throughput by 26% over Q1, and effectively achieved design throughput levels in June. The mining team increased production by 30% over Q1. Operating costs per tonne were within 2% of target and recoveries at 86%, were consistent with design expectations at the grade processed. The costs per ounce sold were significantly affected by the timing of revenues and the grade processed in the quarter. There were approximately 10,000 ounces ‘produced’ in the quarter, for which, based on timing of shipments, revenue was not received.

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