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Torex Gold Resources ( (TSE:TXG) ) has provided an update.
Torex Gold Resources has announced that its Media Luna Project is nearing completion, with 94% of the work finished as of the end of 2024. The company is on track to produce its first copper concentrate by March 2025, marking a significant milestone in the project’s development. Underground development and drilling activities are ahead of schedule, potentially accelerating mining rates and enhancing operational efficiency. The company expects Q1 2025 to be the last quarter of significant capital expenditure for the project, anticipating a transition to positive cash flow by mid-year. This financial strengthening will allow Torex to repay debt, return capital to shareholders, and support future growth initiatives.
More about Torex Gold Resources
Torex Gold Resources Inc. operates in the mining industry, focusing on the exploration, development, and production of gold resources. The company is primarily engaged in projects located in Mexico, with the Media Luna Project being a significant asset in its portfolio.
YTD Price Performance: 6.57%
Average Trading Volume: 38,986
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.87B
Find detailed analytics on TXG stock on TipRanks’ Stock Analysis page.
