Northwire Canada EditionFriday, November 6, 2026
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Gold 4,068.90 −1.1% Silver 51.97 −0.8% Copper 6.27 −0.0% Oil 90.31 −0.2% Palladium 1,015.75 −2.7% ELEF 0.190 +58.3% MUN 0.300 +0.0% SAGA 0.390 +4.0% GHL 0.060 +0.0% REVX 1.26 +13.5% AMX 3.52 −0.3% TSG 0.185 −17.8% EVI 0.390 +2.6% AGA 0.450 +1.1% BNKR 2.62 −0.8% SURG 0.415 +1.2% AEMC 0.040 +0.0% LUXR 0.110 +0.0% RGC 0.405 −1.2% TOM 0.100 +0.0% RRI 0.335 −2.9% Gold 4,068.90 −1.1% Silver 51.97 −0.8% Copper 6.27 −0.0% Oil 90.31 −0.2% Palladium 1,015.75 −2.7% ELEF 0.190 +58.3% MUN 0.300 +0.0% SAGA 0.390 +4.0% GHL 0.060 +0.0% REVX 1.26 +13.5% AMX 3.52 −0.3% TSG 0.185 −17.8% EVI 0.390 +2.6% AGA 0.450 +1.1% BNKR 2.62 −0.8% SURG 0.415 +1.2% AEMC 0.040 +0.0% LUXR 0.110 +0.0% RGC 0.405 −1.2% TOM 0.100 +0.0% RRI 0.335 −2.9%
Drill Results Routine +

Torex Gold Restarts Drilling at Los Reyes Project

Torex Gold Reaffirms Execution on Los Reyes Integration While Capital Returns Accelerate

By The Northwire Desk — AI Analysis May 28, 2026 · 18:01 TXG · 60.87 Torex Gold Resources Inc.
Executive Summary
  • Drilling Restart: Torex Gold has officially restarted drilling operations at the Los Reyes Project in Sinaloa, Mexico following project integration and permitting completion.
  • Investment Plan: The company plans to invest approximately $18 million at Los Reyes during 2026, targeting ~20,000 metres of exploration drilling across three mineralized trends (Guadalupe, Z-T, Central).
  • PEA Timeline: Management expects to release the Preliminary Economic Assessment (PEA) for Los Reyes in July 2026.
  • Acquisition Context: The project was acquired by Torex in October 2025; integration, community agreements, and security systems have been established to facilitate the restart.
  • Management Commentary: CEO Jody Kuzenko confirmed that people, plans, and systems are now in place to resume drilling safely after the acquisition period.
Material Impact
  • Expectation Alignment: The $18 million investment and 20,000 metre drilling plan were explicitly outlined in the January 14, 2026 operational guidance release. This news confirms execution of a previously disclosed plan rather than introducing new strategic surprises.
  • Integration Validation: The primary value add is confirming that the October 2025 acquisition integration (security, permitting) has proceeded on schedule without significant delays, de-risking the Los Reyes timeline for the July PEA release.
  • Routine Nature: Given the explicit guidance provided earlier in the year regarding exploration budgets and timelines, this update falls under routine operational execution rather than a material shift in company fundamentals or valuation drivers.
  • Transcript Discrepancy Note: The provided transcript context references 10x Genomics (Biotech) and is irrelevant to Torex Gold (Mining). Analysis relies strictly on the mining-specific news releases and price data provided.
TXG · Price
Company Overview
  • Flagship Project: Morelos Complex (Media Luna Underground + ELG Underground) in Guerrero State, Mexico. Media Luna achieved commercial production May 2025 and is ramping to design throughput of 7,500 tpd by mid-2026.
  • Secondary Growth Asset: Los Reyes Project (Sinaloa, Mexico), acquired October 2025 from Prime Mining Corp. Contains ~1.5 Moz Indicated Gold resources. Currently in exploration/PEA phase.
  • Exploration Pipeline: Includes Batopilas and Guigui (Mexico) via Reyna Silver acquisition; Gryphon and Medicine Springs (Nevada).
  • Operational Status: Media Luna ramp-up ahead of schedule; ELG Underground maintaining >3,000 tpd mining rates. Processing plant throughput exceeding design capacity (>10,600 tpd).
Read the original news release →

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