Northwire Canada EditionFriday, July 10, 2026
Sign inSubscribe
Northwire
⌕
TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0% TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0%
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 →

More from Torex Gold Resources Inc.

Jul 07, 2026 · 18:01

Torex’s Los Reyes PEA delivers $1.49bn npv and 37% irr, serving as a high-margin growth anchor self-funded by morelos cash flow.

Technical Study Jul 07, 2026 · 17:31

Torex reaffirms guidance with q2 production on plan and h2 grade and recovery catalysts remaining intact.

Production / Operations Jun 17, 2026 · 17:01

Torex reports smooth leadership succession at its debt-free Mexican operation, advancing Media Luna North and Los Reyes PEA.

Management May 26, 2026 · 18:01

Torex Gold Confirms Operational Maturity with ESG Report, Capital Return Program Drives Shareholder Value Amidst Leadership Transition

Production / Operations May 20, 2026 · 18:01

Torex Gold Succession Plan Confirmed Amidst Strong Cash Flow and Capital Return Strategy

Management May 06, 2026 · 17:01

Cash Flow King Faces Leadership Transition

Other