Torex Gold Resources produces 119,034 ounces AuEq in Q3

Executive Summary

• Torex Gold reported Q3 2025 payable gold‑equivalent production of 119,034 oz, with AuEq sold of 118,082 oz.
• Year‑to‑date payable production reached 261,520 oz AuEq, putting the company on track to meet the low end of its 2025 guidance (400–450 k oz AuEq).
• Media Luna mine ramp‑up is ahead of schedule, with mining rates already above the targeted 6,000 t/d and processing throughput exceeding design capacity.

Key Details

• Q3 2025 Production: 119,034 oz payable AuEq; 118,082 oz AuEq sold.
• YTD Production (as of Q3): 261,520 oz payable AuEq (based on average market prices).
• Guidance Metal Prices Used: $2,500/oz Au, $28/oz Ag, $4.30/lb Cu.
• Annual Payable Production Guidance: 400,000–450,000 oz AuEq at guidance metal prices.
• Media Luna Mine Status:
• Mining rates > 6,000 t/d at quarter end (target).
• Third ore pass and paste plant commissioned; ramp‑up ahead of plan.
• Planned stopes for 2026 largely drilled; final ore pass on schedule for year‑end.
• Processing Plant Performance:
• Throughput > 10,600 t/d (design rate).
• Gold recovery ≈ 90 %; copper recovery ≈ 92 % (slightly ahead of design).
• No major maintenance shutdowns during the quarter; potential for additional capacity.
• Future Outlook: Expectation of strong free‑cash‑flow generation, continued ramp‑up to 7,500 t/d by mid‑2026, and operational momentum into 2026.
• Conference Call/Webcast: Results release after market close on Nov 5, 2025; call/webcast on Nov 6, 2025 at 9 a.m. ET (dial‑in numbers provided).

Notable Quotes

“Our operational performance at Morelos was exceptional during the third quarter… Media Luna is well positioned to achieve the designed mining rate of 7,500 tonnes per day by mid‑2026.” – Jody Kuzenko, President & CEO.