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Torex Gold: The Media Luna Project Is A Game Changer
Torex Gold: The Media Luna Project Is A Game Changer
GBA Presents: House of Gummy-!
- Thread starter stonedinvestor
- Start date
-----WELCOME TO NEW YORK CITY------GET READY TO FALL IN LOVE. ONCE YOU GO GOLD YOU NEVER GO BACK-
FEMALE CEO... 2ND LARGEST PRODUCER IN MEXICO A YEAR AGO.. THIS MINE HAS BEEN IN THE WORKS FOR TEN YEARS... CANADIAN COMPANY...
copper more than gold-
CEO, Torex Gold.
On Oct. 4, 2023,MBN reported on Torex Gold’s intention to start copper production in 2024. According to Faysal Rodríguez, Vice President, Torex Gold, the company expects to produce 450,000oz and 500,000oz AuEq per year, of which 25% will be gold and 75% copper. Rodríguez noted that production will come from Media Luna and El Limon Guajes, contributing 75% and 25%, respectively.
On its March 2022 Technical Report, Torex Gold had previously noted that over half of the tailings produced over the lifetime of the Morelos Complex, consisting of the El Limon Guajes and Media Luna project and other related infrastructure, would be deposited within the Guajes open-pit, with the remainder deposited underground as cemented paste fill.
According to Kuzenko, works to prepare the open pit for tailing deposition will start shortly, but she did not disclose an exact date when these works could start. However, she said the company plans to start depositing the tailing by the end of 2024. “The EIA amendment marks another significant project de-risking milestone and further demonstrates the ongoing support of local communities and the endorsement of state and federal governments of both the social and environmental facets of the Morelos Complex,”Kuzenko concluded.
Torex Gold is one of the largest contributors to Guerrero’s economy, contributing over 3% of the state’s GDP. On Oct. 26, 2023,MBN reportedT orex Gold’s 2022 Economic Impact Study’s highlights, which was conducted by Deloitte LLP. According to the Impact study, the company contributed US$960 million to the country's GDP, including US$600 million to Guerrero in 2022. Furthermore, Torex Gold has maintained 12,912 jobs annually in Mexico, which is equivalent to generating 25.8 jobs for every US$ 1 million that the company spends in the country.
copper more than gold-
CEO, Torex Gold.
On Oct. 4, 2023,MBN reported on Torex Gold’s intention to start copper production in 2024. According to Faysal Rodríguez, Vice President, Torex Gold, the company expects to produce 450,000oz and 500,000oz AuEq per year, of which 25% will be gold and 75% copper. Rodríguez noted that production will come from Media Luna and El Limon Guajes, contributing 75% and 25%, respectively.
On its March 2022 Technical Report, Torex Gold had previously noted that over half of the tailings produced over the lifetime of the Morelos Complex, consisting of the El Limon Guajes and Media Luna project and other related infrastructure, would be deposited within the Guajes open-pit, with the remainder deposited underground as cemented paste fill.
According to Kuzenko, works to prepare the open pit for tailing deposition will start shortly, but she did not disclose an exact date when these works could start. However, she said the company plans to start depositing the tailing by the end of 2024. “The EIA amendment marks another significant project de-risking milestone and further demonstrates the ongoing support of local communities and the endorsement of state and federal governments of both the social and environmental facets of the Morelos Complex,”Kuzenko concluded.
Torex Gold is one of the largest contributors to Guerrero’s economy, contributing over 3% of the state’s GDP. On Oct. 26, 2023,MBN reportedT orex Gold’s 2022 Economic Impact Study’s highlights, which was conducted by Deloitte LLP. According to the Impact study, the company contributed US$960 million to the country's GDP, including US$600 million to Guerrero in 2022. Furthermore, Torex Gold has maintained 12,912 jobs annually in Mexico, which is equivalent to generating 25.8 jobs for every US$ 1 million that the company spends in the country.
Gold is so extremely high Children what are we going to do?
Torex Gold Provides Quarterly Update on Media Luna Project
Torex Gold Resources Inc.
Project 49% complete as at the end of Q3 2023; Guajes Tunnel breakthrough expected by year-end
Figure 1
Breakthrough of Guajes Tunnel expected in late December (advance rates as at end of September)
Figure 2
Project execution plan for the Media Luna Project
(All amounts expressed in U.S. Dollars unless otherwise stated)
TORONTO, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) provides Q3 2023 update on the development of its Media Luna Project (“Media Luna”). Unless otherwise stated, progress and milestones referenced in this press release are as of September 30, 2023.
Jody Kuzenko, President & CEO of Torex, stated:
“Development of Media Luna continues to track well to plan, with first concentrate production remaining on track for late 2024 and commercial production in early 2025. At quarter-end, the Media Luna Project was 49% complete across engineering, procurement, underground development/construction, and surface construction. With 68% of upfront expenditures committed (including 42% incurred), expenditures to date have tracked reasonably well to the initial budget of $875 million, noting the stronger Mexican peso remains a headwind to manage. With $242 million incurred on the project year-to-date, project spending in 2023 is tracking toward the lower end of the annual guided range of $390 million to $440 million.
“Solid progress was made with respect to underground development and construction, which included another notable quarter of advance in the schedule-critical Guajes Tunnel and mobilization of the underground construction contractor. Breakthrough of the Guajes Tunnel is expected by year-end, three months ahead of schedule.
Torex Gold Resources Inc.
October 30, 2023
Stoney,
Fwiw, I noticed today that several of the gold stocks had significant call buying. Most were Q1 of 2024 expiration. I was like... "Hmmm... what do they know that we don't?" Those things take a lot to move.
Edit:
Stupid logo. It looks like a first year art student bastardized the classic Merrill Lynch bull with some cheap software.
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Get you coat; Stoney has left the building!Stoney,
Fwiw, I noticed today that several of the gold stocks had significant call buying. Most were Q1 of 2024 expiration. I was like... "Hmmm... what do they know that we don't?" Those things take a lot to move.
Edit:
Stupid logo. It looks like a first year art student bastardized the classic Merrill Lynch bull with some cheap software.
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I will, did you see Henry Kissinger dead at 100? I can’t say I am sad.
Stoney has a habit of latching onto stories like this. IE pumps.
Because gold is rising, all the sudden out of nowhere we get the classic Canadian (low volume toilet stock) pump and dump.
This stock will be 30% lower (at least) in a months time. I mean he finds these stocks... but misses what the entire sector is doing. If you want to own a gold stock----> BUY QUALITY.
Why Gold Prices Are Rising
By
Joe Wallace
, Reporter
Gold prices are back at near-record highs. Why?
Futures for the precious metal have shot up 8% so far this quarter, with gold now fetching comfortably more than $2,000 a troy ounce.
Gold pays no income. So speculative demand for the metal tends to wane when bond yields, after adjusting for expected inflation, go up. And it waxes when these so-called real yields go down.
That is what has happened since October, when investors began to bet that the Federal Reserve's inflation-fighting campaign was drawing to a close.
Yields on inflation-protected U.S. government bonds—a proxy for real yields—have fallen, while gold has risen to its highest level in six months.
Most-actively traded futures for the precious metal were recently up 0.2% in New York at about $2,016 a troy ounce. The end-of-day record is $2,069.40, set in 2020.
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SELL SELL SELL!!!!!
A classic Stoney---> Seeking Alpha pick.
Instant red flags.
Torex Gold on the rise as RBC upgrades on Media Luna construction progress
Nov. 29, 2023 3:13 PM ETTorex Gold Resources Inc. (TORXF), TXG:CABy: Carl Surran, SA News Editor
Moussa81/iStock via Getty Images
Torex Gold Resources (OTCPK:TORXF) +4.1% in Wednesday's trading as RBC Capital upgraded to Outperform from Sector Perform with a C$22 price target, bumped up from C$20, saying the stock has been trading at a discount to peers, which should present an attractive risk/reward opportunity.
RBC's Wayne Lam noted Torex Gold's (OTCPK:TORXF) attractive valuation with the achievement of significant de-risking milestones over the past year and construction at the Media Luna project in Mexico now halfway complete.
Lam said Torex (OTCPK:TORXF) shares do not reflect significant headway made over the last year in de-risking the company's future, including receipt of key MIA Integral and in-pit tailings deposition permits in a challenging regulatory environment, El Limon pushback to address the potential production gap in extending the open pit to mid-2025 while ramping up the ELG underground, and advancement of the tunnel beneath the Balsas River with planned breakthrough by year-end, well ahead of schedule.
With shares retreating to levels last seen a year ago, Lam said Torex's (OTCPK:TORXF) current valuation does not reflect the progress and de-risking initiatives undertaken over the last year.
A classic Stoney---> Seeking Alpha pick.
Instant red flags.
Torex Gold on the rise as RBC upgrades on Media Luna construction progress
Nov. 29, 2023 3:13 PM ETTorex Gold Resources Inc. (TORXF), TXG:CABy: Carl Surran, SA News Editor
Moussa81/iStock via Getty Images
Torex Gold Resources (OTCPK:TORXF) +4.1% in Wednesday's trading as RBC Capital upgraded to Outperform from Sector Perform with a C$22 price target, bumped up from C$20, saying the stock has been trading at a discount to peers, which should present an attractive risk/reward opportunity.
RBC's Wayne Lam noted Torex Gold's (OTCPK:TORXF) attractive valuation with the achievement of significant de-risking milestones over the past year and construction at the Media Luna project in Mexico now halfway complete.
Lam said Torex (OTCPK:TORXF) shares do not reflect significant headway made over the last year in de-risking the company's future, including receipt of key MIA Integral and in-pit tailings deposition permits in a challenging regulatory environment, El Limon pushback to address the potential production gap in extending the open pit to mid-2025 while ramping up the ELG underground, and advancement of the tunnel beneath the Balsas River with planned breakthrough by year-end, well ahead of schedule.
With shares retreating to levels last seen a year ago, Lam said Torex's (OTCPK:TORXF) current valuation does not reflect the progress and de-risking initiatives undertaken over the last year.