Q2 2026 Torex Gold Resources Inc Earnings Call Transcript

Aug 7, 2026 / 01:00 PM GMT

Release Date Price: MXN708.36

Transcript

Key Points

Positve

Production is on track to meet annual guidance, with Q2 being the lowest quarter and July already showing strong output of over 43,000 ounces gold equivalent.
Strong free cash flow of $94 million generated in Q2, supporting $55 million in capital returns to shareholders.
Mining rates at Media Luna and ELG continue to outperform, with throughput ahead of design at nearly 10,800 tons per day.
Media Luna North project remains on schedule for first production by end of 2026, with key milestones achieved.
Exploration budget increased to a record $85 million, with promising results at Media Luna East and South, and Los Reyes PEA completed.
No lost time injuries for the fifth consecutive quarter, maintaining a strong safety record.
Liquidity position improved with no debt and over $500 million available, including extended credit facility to 2030.

Negative

All-in sustaining costs (AISC) elevated at $2,459 per ounce in Q2, leading to revised full-year guidance up to $2,000-$2,100 per ounce.
Higher plant reagent costs due to increased consumption and unit pricing, particularly cyanide, impacting costs.
Stronger Mexican peso (averaging 17.5:1 vs. original 19:1) creating significant cost headwinds, with about 50% of operating costs peso-denominated.
Gold recoveries remain slightly below the targeted 90%, though showing improvement in July at 88%.
Sustaining capital guidance revised upward to $135-$145 million, reflecting peso impact and additional equipment leases.
Income tax installments expected to average around $55 million per quarter in H2, impacting cash flow.
Exploration results from regional targets like Escala are still early, with no immediate resource additions expected.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TXG.TO - Torex Gold Resources Inc.
Q2 2026 Torex Gold Resources Inc Earnings Call
Aug 07, 2026 / 01:00PM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Thank you for standing by.

This is the conference operator.

Welcome to the Torax Gold second quarter of 2026 results conference call and webcast.

As a reminder, all participants are in a listen-only mode, and the conference call is being recorded.

After the presentation, there will be an opportunity to ask questions.

To join the question queue, you may press star and then 1 using a telephone keypad, you will hear a tone acknowledging your request.

Should you need assistance during the conference call, you may reach an operator by pressingar and 0.

I would now like to turn the conference call over to Laura Totten, Manager, Investor relations.

Please

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.