Torex Gold Produces 82,856oz AuEq in 2Q25

Canada-based gold and base metal producer Torex Gold reports a production of 82,856oz of gold equivalent (AuEq) for 2Q25, a period marked by the ramp-up of its Media Luna project in Guerrero. The company says it is now targeting the low end of its annual production guidance of 400,000oz to 450,000oz AuEq.

During 2Q25, Torex Gold was impacted by ten days of unplanned downtime late in May due to a capacitor failure in the ball mill. Torex Gold says that since the failure, the operational risk associated with a lack of available critical spare parts has been addressed. "As expected, 2Q25 was anything but a typical quarter for Torex Gold as we ramped up operations following the restart of our processing operations in late March. In June, with operations hitting their stride, we officially returned to positive free cash flow in the month, paving the way for expected positive free cash flow at Morelos for the third quarter and consistently thereafter," says Jody Kuzenko, President and CEO, Torex Gold.

The company says that despite the earlier setback, operations in June 2025 showed strong performance, with production of over 37,000oz AuEq and plant throughput rates exceeding 11,100t/d. At the Media Luna underground mine, mining rates averaged over 5,300t/d in June. The company anticipates achieving the designed mining rate of 7,500t/d at Media Luna by mid-2026.

Year-to-date, Torex has produced 142,486oz AuEq. The company expects production and costs to show a marked improvement in 2H25. "With strong operational momentum, production and costs are expected to show a marked improvement in 2H25 amidst a backdrop of robust gold, silver, and copper prices, supporting our return to solid free cash flow generation,” Kuzenko says.

Kuzenko adds that with the development of the EPO deposit underway, the acquisition of Reyna Silver expected to close in August, and an inaugural return of capital policy to be announced in the coming months, the company has multiple catalysts to add shareholder value.