Torex Gold Posts Higher Q2 Production, Releases Los Reyes Preliminary Economic Assessment

Torex Gold Resources (TXG.TO) reported second-quarter production of 96,297 ounces gold equivalent, up from 82,856 ounces in the year-ago period. Sales were 91,646 ounces gold equivalent, up from 76,922 ounces gold equivalent, the company said Tuesday. Torex has produced 197,171 ounces gold equivalent and sold 200,868 ounces gold equivalent year to date. It is on track to hit its full-year production guidance of 420,000 to 470,000 ounces gold equivalent. Separately, the company released results of a preliminary economic assessment for the Los Reyes project in Mexico. The results showed an estimated after-tax internal rate of return of 37.3% and after-tax net present value discounted at 5% of US$1.49 billion, assuming prices of US$3,600/ounce gold and US$50/ounce silver. All-in sustaining costs over the life are forecast at $1,617/ounce gold equivalent.