- Torex Gold (TXG) has revealed its 2020 second quarter production numbers, in a quarter significantly impacted by the COVID-19 shutdowns.
- During the quarter, the company produced 59,500 gold ounces for the quarter, and sold 63,140 gold ounces
- The company’s average realised gold price improved to C$2,320 per ounce, following gold’s strong performance during the pandemic.
- The company’s average plant throughput was 7,550 tonnes per day, and mining activity was 7610 tonnes per day from both the underground and open pit mines
- Torex Gold (TXG) is up 0.7 per cent and is trading at $22.45 per share
Torex Gold (TXG) has revealed its 2020 second quarter production numbers, in a quarter significantly impacted by COVID-19 shutdowns.
The company processed 59,500 gold ounces for the second quarter and sold 63,140 ounces at an average price of approximately C$2,320 per share.
The company’s average plant throughput was 7,550 tonnes per day.
Mining activity included 330 tonnes per day from the company’s underground ore mined, along with 7,310 tonnes of ore per day from its open pit mine.
Due to the coronavirus pandemic, the Mexican Government suspended mining activity for the month of April, with operations only partially resuming again in late May.
The mining industry was then designated an essential service and allowed to return to partial production. Full production resumed again at the beginning of June.
CEO and President of Torex, Jody Kuzenko said that due to coronavirus restrictions this quarter was not business as usual.
“With operations back on track, we look forward to delivering a strong result in H2 2020 and carrying this operational momentum into 2021.
“Our strong performance in June after what was a very challenging quarter would not have been possible without the dedication and ongoing support of our employees, contractors and local communities.
“We are pleased to have weathered this unprecedented time in the way we face most challenges – together – and look forward to more of the same in months to come,” Jody said.
Torex Gold (TXG) is up 0.7 per cent and is trading at $22.45 per share at 12:10 pm EDT.