Torex Gold posts ‘extraordinary’ Q3

Torex Gold posts ‘extraordinary’ Q3

Torex Gold’s El-Limon Guajes. (Credit: Torex Gold) The company posted record net earnings of $60.3 million ($51.3 million adjusted) on revenues of $256.5 million. That compares to $17.1 million in net income on revenues of $198.2 in last year’s third quarter.

“Q3 was simply extraordinary — a record-breaking quarter across many facets of the business,” said Torex president and CEO Jody Kuzenko in a release.

“Gold sales of 133,036 ounces were the highest in our history, as was the realized gold price of $1,884 per ounce. The record realized margin of $1,250 per ounce generated during the quarter underpins our best quarterly financial performance ever, including $163 million of EBITDA, $173 million of operating cash flow ($138 million before changes in working capital) and US$124 million of free cash flow.”

The company ended the quarter with a net cash position for first time since beginning commercial production at El Limon Guajes in […]

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