Assets

Production Summary and Forecast

2020 Highlights

Gold production
Delivered 430,480 ounces of gold, exceeding the high end of revised production guidance for 2020. Guidance was adjusted in August 2020 due to a partial quarter of operations in Q2 associated with a mandated shutdown by the Government of Mexico to combat COVID-19 within the country.
Gold sold
Full year sales of 437,310 ounces at an average realized gold price of US $1,771/oz.
Total cash costs per ounce of gold sold 1
Total cash costs of US $672/oz.
All-in sustaining costs per ounce of gold sold 1
All-in sustaining costs of US $924/oz.
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For additional information and disclosure related to our 2020 performance, please refer to our 2020 Financial Results
  • See Notes
    • Commercial production was declared on April 1, 2016.
    • Sales in 2016 include 31,518 ounces of gold during the pre-commercial period (January through March 2016) and 244,095 ounces of gold during the commercial period (April through December).
    • Realized gold price, Total cash costs, and All-in sustaining costs for 2016 reflect commercial sales only.
    • All in sustaining cash costs in 2016 include corporate level costs and reflect sales during the commercial period of 2016 (April through December).
    • Production in late 2017 and early 2018 was impacted by an illegal blockade of the operation.
    • Production in 2020 was impacted by a mandated suspension of operations by the Government of Mexico to minimize the spread of COVID-19. Operations were halted in April, partially resumed in May with processing of stockpiles, and fully resumed in June with the restart of open pit and underground mining operations.

2021 Operational Outlook

  • See Notes
    • Refer to “Non-IFRS Financial Performance Measures” in the Company’s September 30, 2020 MD&A for further information and a detailed reconciliation.
    • Operational guidance for 2020 was revised on August 5, 2020 following the impact of the mandated shutdown of operations by the Government of Mexico to mitigate the risk of COVID-19 in the country.
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For additional information and disclosure related to our 2021 operational outlook, please click here.

Three-Year Production Outlook: ELG

  • See Notes
    • Please refer to Torex’s Q2 2021 MD&A for additional information related to 2021 operational guidance including total cash costs, all-in sustaining costs, sustaining capital expenditures, and non-sustaining capital expenditures. A copy of the Q2 2021 MD&A has been filed on SEDAR (www.sedar.com) as well as on the Company’s website (www.torexgold.com).
    • Production outlook excludes any production from Media Luna. In addition to gold, Media Luna is expected to produce significant levels of copper and silver relative to the modest levels of silver and copper currently produced at ELG.
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For additional information and disclosure related to our 3-year production outlook for ELG, please click here.
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