Torq Resources Announces Cost-Cutting and Strategic Shifts
Company Announcements

Torq Resources Announces Cost-Cutting and Strategic Shifts

Torq Resources Inc (TSE:TORQ) has released an update.

Torq Resources Inc. has announced significant cost-cutting measures, including a 50% pay cut for North American senior executives and consolidating their Vancouver operations into their Santiago offices to focus on their core projects. The company has also seen the resignation of a director and their Chief Geological Officer, and has dropped the Andrea project to prioritize capital towards its Margarita and Santa Cecilia projects. The company is actively exploring financing options and believes in the potential of their projects despite current under-appreciation in the market.

For further insights into TSE:TORQ stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks Canadian Auto-Generated NewsdeskTorq Resources Secures Loan for Chilean Project
TipRanks Canadian Auto-Generated NewsdeskTorq Resources Announces $2 Million Private Placement
TipRanks Canadian Auto-Generated NewsdeskTorq Resources Corrects Finder’s Warrant Price
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App