1 See also Table 10 for After-Tax Sensitivities to Key Factors for the Morelos Complex and Media Luna Project.
2 Gold equivalent (AuEq) sold includes Au and AuEq values for Ag and Cu sold assuming long-term metal prices of $1,600/oz Au ($1,700/oz in 2022), $21/oz Ag, and $3.50/lb Cu. A summary of life of mine payable production values for Au, Ag and Cu can be found in Table 1 including tonnes processed and average processed grades. Expected recovery and payable factors for Au, Ag and Cu can be found in Table 2.
3 These measures, as well as TCC margin, AISC margin, and sustaining and non-sustaining capital expenditures, are forward looking Non-GAAP Financial Performance Measures or Non-GAAP ratios (collectively, “Non-GAAP Measures”). Please see Table 13 for the equivalent historical non-GAAP measure. For the year ended December 31, 2022, the following historic Non-GAAP Measures were reported in the Company’s management’s discussion and analysis (“MD&A”) for the year ended December 31, 2022, dated February 22, 2023, which is available on the Company’s website (www.torexgold.com) and under the Company’s SEDAR profile (www.sedar.com): EBITDA: $482.8M; TCC: $730/oz; TCC margin: $1,079/oz; AISC: $1,008/oz; AISC margin: $801/oz; sustaining capital costs: $102.9M; and non-sustaining costs: $186.1M. Please note that the AISC and AISC margin do not include Torex corporate G&A and potential sustaining exploration costs, and mine-site EBITDA does not include Torex corporate G&A. Please also see the Cautionary Notes on Non-GAAP Measures below.
4 Gold equivalent (AuEq) Mineral Reserves account for underlying metal prices and metallurgical recoveries. Breakdown of Mineral Reserves by metal is outlined in Table 11 and a breakdown of Mineral Resources by metal is outlined in Table 12.