El Limon Guajes complex. Credit: Torex Gold
Intermediate miner Torex Gold has released its 2020 operating highlights – last year, the company produced 430,480 gold oz., 130,640 of which were generated in the fourth quarter. The company’s EL Limon Guajes mining complex in Mexico beat the revised production guidance of 390,000 to 420,000 gold oz. for 2020.
“We delivered another solid operational result to close out 2020, a guidance beat which follows a strong pattern of delivering on our commitments,” Jody Kuzenko, Torex’s president and CEO, said in a release. “We expect this operational consistency to continue, which, combined with robust margins, positions us well to continue to generate strong operating cash flow. During Q4 2020, we reduced debt by a further $116 million dollars, exiting the year with debt of $40 million and a strong cash balance.”
