Torex Gold ( (TORXF) ) has released its Q1 earnings. Here is a breakdown of the information Torex Gold presented to its investors.
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Torex Gold Resources Inc. is a Canadian intermediate gold producer focused on the exploration, development, and operation of its Morelos Property in Mexico’s Guerrero Gold Belt, featuring the Media Luna Underground, ELG Underground, and ELG Open Pit mines.
In its first-quarter 2025 earnings report, Torex Gold highlighted significant milestones, including the completion of tie-ins at its processing plant and the commencement of commercial production at the Media Luna project. The company reported production levels in line with expectations despite a planned four-week shutdown, with expectations for increased production in the coming quarters.
Key financial metrics for the quarter included a net income of $39.0 million and adjusted EBITDA of $91.8 million. Torex Gold sold 60,568 gold equivalent ounces at a record average realized gold price of $2,793 per ounce, generating $170.0 million in revenue. The company maintained its annual production guidance of 400,000 to 450,000 gold equivalent ounces and reported all-in sustaining costs of $1,405 per ounce sold.
Looking ahead, Torex Gold aims to enhance shareholder value by returning to positive free cash flow, executing its exploration program, and ramping up Media Luna to its designed mining rate by mid-2026. The company remains focused on optimizing production and costs, growing reserves and resources, and maintaining its position as an industry leader in responsible mining.