Q2 2025 Torex Gold Resources Inc Earnings Call Transcript
Key Points
- Torex Gold Resources Inc (TORXF) declared commercial production at the Media Luna Project on May 1, marking a significant milestone.
- The company achieved impeccable safety performance with no lost time injuries reported in the quarter.
- June and July production at the process plant was excellent, with gold equivalent production of 37,000 ounces in June and 45,000 ounces in July.
- Torex Gold Resources Inc (TORXF) announced two M&A transactions, acquiring Reyna Silver and Prime Mining, enhancing their growth prospects.
- The company turned the corner on free cash flow, with June being the first positive month and Q3 expected to be the first positive quarter.
- A capacitor failure in the electrical house led to a 10-day production halt, resulting in lower-than-expected production of 83,000 ounces of gold equivalent for the quarter.
- The company is on the back foot to deliver its annual production guidance of 400,000 to 450,000 ounces.
- All-in sustaining costs were higher than expected due to the disappointing production results and the ongoing ramp-up at the Media Luna mine.
- Non-sustaining CapEx guidance was adjusted upwards by $70 million due to extended project periods and aggressive development rates.
- The company expects to be at the lower end of production guidance and the higher end of the cost range for the year.
Thank you for standing by. This is the conference operator. Welcome to the Torex Gold's second-quarter 2025 results conference call and webcast. (Operator Instructions)
I would now like to turn the conference over to Dan Rollins, Senior Vice President, Corporate Development and Investor Relations. Please go ahead.
Thank you, operator, and good morning, everyone. On behalf of the Torex team, welcome to our Q2 2025 conference call. Before we begin, I wish to inform listeners that a presentation accompanying today's conference call can be found under the Investors section of our website at www.torexgold.com.
I'd also like to note that certain statements to be made today by the management team may contain forward-looking information. As such, please refer to the detailed cautionary notes on Page 2 of today's presentation as well as those included in the Q2 2025 MD&A.
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