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Torex Gold Resources Inc

www: www.torexgold.com   email: info@torexgold.com
Category: Mid-tier Producer
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Symbol Data

Symbol Currency
TSE:TXG CAD
OTCMKTS:TORXF USD

Description

Torex Gold Resources Inc are a gold focused mid-tier producer with one mine in development in Mexico and one exploration property. They have approximately 5.5Moz. of gold in the reserves and resources category of which 4.5Moz. are in the measured and indicated category. They have a market capitalisation of ~$1680.95M which is a rise of roughly 32% over the last nine months. As of 04/11/2024 they have ~$200M debt and ~$172M cash. They have 86M shares outstanding and trade on the Toronto Stock Exchange and the over-the-counter markets.

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General Details

Financial 04/11/2024
Last
Analysis
Data
Current Data
Item Value Value Updated
MCap (FD): $1,275.56M $1,680.95M 04/11/2024
Total Assets: $1,170.00M $1,170.00M 04/11/2024
Total Liabilities: $530.00M $530.00M 04/11/2024
Current Assets: $173.00M $173.00M 04/11/2024
Current Liabilities: $194.00M $194.00M 04/11/2024
Total Debt: $200.00M $200.00M 04/11/2024
Cash: $172.00M $172.00M 04/11/2024
Enterprise Value: $1,303.56M $1,708.95M 02/26/2024
Cash Flow: $401.54M $511.32M never
Cash Flow Multiple: 3.18 3.29 never
Net Debt to
Cash Flow Ratio:		 0.07 0.05 never
Finance within 1 year: 04/11/2024
Misc 04/11/2024
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 85,968,582 85,968,582 04/11/2024
Shares (FD): 88,000,000 88,000,000 04/11/2024
Insider Ownership: n/a n/a never
Dividend (Annual): n/a n/a never
Company Type: Mostly Gold Mostly Gold never
Production ETA: n/a 12/01/2015 04/11/2024
Production (Gold Eq Oz.): (guess) 
425,000		 (guess) 
425,000		 04/11/2024
Production (Silver Eq Oz.): (guess) 
35,628,888		 (guess) 
38,373,829		 04/11/2024
Initial CapEx (Outstanding): n/a n/a 04/11/2024
Funding Option: n/a n/a 04/11/2024
Documentation: none PRODUCER 11/15/2024
Future MCap Modifier: 0.25
Producer: Quality
 0.25
Producer: Quality
 04/24/2023
Cash Flow Multiplier: 10 12 09/01/2024

Resource Data

GOLD 04/11/2024
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 4.00M 4.00M 04/11/2024
Measured & Indicated: 4.50M 4.50M 04/11/2024
Inferred: 1.00M 1.00M 04/11/2024
Reserves & Resources: 5.50M 5.50M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: 3.48M 3.48M 04/11/2024
Measured & Indicated: 3.83M 3.83M 04/11/2024
Inferred: 0.44M 0.44M 04/11/2024
Reserves & Resources: 4.26M 4.26M never
C
U
R
R
E
N
T		 Annual Production: (guess) 
425,000oz.		 (guess) 
425,000oz.		 04/11/2024
Cash Cost: $850 $850 04/11/2024
Extra Operating Cost: $550 $550 04/11/2024
Total: $1,400 $1,400 04/11/2024
Margin (Free Cash Flow): $945 (40%) $1,203 (46%)
G
R
A
D
E		 Underground (Avg): 4.00 g/t 4.00 g/t 04/11/2024
Open Pit (Avg): n/a 2.50 g/t 03/24/2024
Recovery Rate: (CG)  87.00% (CG)  87.00% 11/15/2024
F
U
T
U
R
E		 Proven & Probable: 5.00M 5.00M 04/11/2024
Annual Production: 400,000oz. 350,000oz. 07/28/2024
Cash Cost: $900 $950 07/28/2024
Extra Operating Cost: $500 $500 04/11/2024
SILVER 04/11/2024
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 04/11/2024
Measured & Indicated: n/a n/a 04/11/2024
Inferred: n/a n/a 04/11/2024
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 04/11/2024
Measured & Indicated: n/a n/a 04/11/2024
Inferred: n/a n/a 04/11/2024
Reserves & Resources: n/a n/a never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 04/11/2024
Extra Operating Cost: n/a n/a 04/11/2024
Total: n/a n/a 04/11/2024
Margin (Free Cash Flow): n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 04/11/2024
Open Pit (Avg): n/a n/a 04/11/2023
Recovery Rate: n/a n/a 04/11/2024
F
U
T
U
R
E		 Proven & Probable: n/a n/a 04/11/2024
Annual Production: n/a n/a 04/11/2024
Cash Cost: n/a n/a 04/11/2024
Extra Operating Cost: n/a n/a 04/11/2024

Property

Last Analysis Data  (04/11/2024)
Stage Name Owned Au Ag Cu Notes
Dev Morelos - El Limon 100% show
Close to completing permitting and financing. Very large open pit.

Construction began in 2014.
Production 2016.

4 million oz deposit.

Production ends in 2026

All-in costs under $1000.
Exp Morelos - Media Luna 100% show
There 2nd mine. Perhaps in 2020.

4.5 million oz
Underground mine.
Production begins in 2025
Total Land Package Size (ha): 29,000  
Current Data
Stage Name Owned Au Ag Cu Notes
Dev Morelos - El Limon 100% show
Close to completing permitting and financing. Very large open pit.

Construction began in 2014.
Production 2016.

4 million oz deposit.

Production ends in 2026

All-in costs under $1000.
Exp Morelos - Media Luna 100% show
There 2nd mine. Perhaps in 2020.

4.5 million oz
Underground mine.
Production begins in 2025
Total Land Package Size (ha): 29,000  

Profitability (by resource)

Proven &
Probable		 04/11/2024
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 4.00M 4.00M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 3.48M 3.48M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $3,287.90M $4,186.79M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $3,287.90M $4,186.79M n/a
Max Profit / Current MCap: 2.578 2.491 n/a
Max Profit Per Share (Gold): $37.36 $47.58 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $37.36 $47.58 n/a
Total Free Profit Per Share: $17.65 $20.08 n/a
FD MCap / Gold Eq.: $366.54 $483.03 n/a
FD MCap / Silver Eq.: $4.37 $5.35 n/a
FD MCap / Per Metal
as % Spot Price:		 15.63% 18.56% n/a
Measured &
Indicated		 04/11/2024
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 4.50M 4.50M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 3.83M 3.83M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $3,616.69M $4,605.47M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $3,616.69M $4,605.47M n/a
Max Profit / Current MCap: 2.835 2.740 n/a
Max Profit Per Share (Gold): $41.10 $52.33 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $41.10 $52.33 n/a
Total Free Profit Per Share: $21.39 $24.83 n/a
FD MCap / Gold Eq.: $333.22 $439.12 n/a
FD MCap / Silver Eq.: $3.97 $4.86 n/a
FD MCap / Per Metal
as % Spot Price:		 14.21% 16.87% n/a

Reserves &
Resources		 04/11/2024
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 5.50M 5.50M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 4.26M 4.26M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $4,027.68M $5,128.82M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $4,027.68M $5,128.82M n/a
Max Profit / Current MCap: 3.158 3.051 n/a
Max Profit Per Share (Gold): $45.77 $58.28 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $45.77 $58.28 n/a
Total Free Profit Per Share: $26.06 $30.78 n/a
FD MCap / Gold Eq.: $299.22 $394.31 n/a
FD MCap / Silver Eq.: $3.57 $4.37 n/a
FD MCap / Per Metal
as % Spot Price:		 12.76% 15.15% n/a

Future Valuation (Cash Flow & Totals)

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