Northwire Canada EditionSunday, November 8, 2026
Sign inSubscribe
Northwire
⌕
Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7% Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7%
Production / Operations

Torex Gold Reports Q1 2026 Production Results

Torex Gold Surges on Media Luna Ramp-Up Ahead of Schedule, Share Buybacks Signal Confidence

By The Northwire Desk — AI Analysis Apr 09, 2026 · 18:01 TXG · 66.54 Torex Gold Resources Inc.
Executive Summary
  • Q1 2026 Production Results: Torex reported preliminary Q1 2026 gold-equivalent production of 100,874 oz and sales of 109,222 oz. This performance places the company on track to meet its full-year guidance of 420,000–470,000 oz AuEq.
  • Operational Milestone: The Media Luna underground mine achieved design throughput of 7,500 tpd nine months ahead of schedule. ELG Underground maintained >3,000 tpd mining rates.
  • Capital Allocation: The company repurchased 2,141,801 shares at an average price of C$70.69 and paid a quarterly dividend of C$0.15 per share.
  • Guidance Assumptions: Q1 figures based on metal prices of $4,873/oz Au, $84.33/oz Ag, $5.83/lb Cu. Full-year guidance assumes lower prices ($4,000/oz Au).
  • Future Outlook: Management expects Q2 production to remain similar with increases in H2 as higher-grade stopes are accessed. First production from Media Luna North anticipated by year-end 2026.
Material Impact
  • Operational Execution: The achievement of design throughput at Media Luna nine months early is a significant de-risking event for the company's growth profile. It validates the capital expenditure plan and suggests potential for accelerated cash flow generation compared to previous Feasibility Study timelines.
  • Financial Strength: The share repurchase program, executed at an average price (C$70.69) slightly above recent trading levels ($66.54), demonstrates management's confidence in the intrinsic value of the stock and commitment to returning capital. This aligns with the strong free cash flow generation reported in Full Year 2025 results ($166M).
  • Guidance Validation: The Q1 production numbers confirm the validity of the January 2026 guidance (420k–470k oz AuEq). There are no material misses or surprises that would necessitate a downward revision of expectations.
  • Leadership Transition: While not detailed in this specific release, the context from February 2026 news indicates a CEO transition is scheduled for June 2026 (Jody Kuzenko to Andrew Snowden). The operational stability reported here supports a seamless handover.
TXG · Price
Company Overview
  • Company: Torex Gold Resources Inc. operates the Morelos Complex in Mexico (Guerrero Gold Belt).
  • Flagship Project: Media Luna Underground Mine. This project transitioned to commercial production in May 2025 and is now ramping up to design capacity ahead of schedule.
  • Other Assets: ELG Underground (producing), EPO Underground (development), Los Reyes (acquired from Prime Mining, advanced exploration).
  • Production Mix: Gold, Silver, and Copper exposure. 2026 guidance targets ~74% Au, 20% Cu, 6% Ag by volume.
Read the original news release →

More from Torex Gold Resources Inc.

Oct 28, 2026 · 18:01

Torex rebrands to reflect a diversified metals strategy and its push for a New York Stock Exchange listing.

Other Oct 26, 2026 · 09:02

Torex reports no new TXG data in its recycled Q3 paid RUA advertorial.

Drill Results Oct 06, 2026 · 06:01

Torex Q3 output beat telegraphed guidance by approximately 15%, reopening the debate on its all-in sustaining costs.

Production / Operations Sep 24, 2026 · 18:01

Torex reports strong Morelos drilling at the San Miguel corridor, though true widths are undisclosed and a resource update is a year away.

Drill Results Aug 06, 2026 · 18:01

Torex saw AISC guidance rise 15% due to grade and cost pressures, though strong free cash flow and buybacks cushioned the impact.

Earnings Jul 13, 2026 · 18:01

Torex reported high-grade infill at Media Luna North, adding to the $3.8B producer’s portfolio without disclosing true widths or QA/QC details.

Drill Results