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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 ~$1672.64M which is a rise of roughly 31% over the last five 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
Change
Item Value Value Updated Value
MCap (FD): $1,275.56M $1,672.64M 04/11/2024 $397.08M
Total Assets: $1,170.00M $1,170.00M 04/11/2024 $0.00M
Total Liabilities: $530.00M $530.00M 04/11/2024 $0.00M
Current Assets: $173.00M $173.00M 04/11/2024 $0.00M
Current Liabilities: $194.00M $194.00M 04/11/2024 $0.00M
Total Debt: $200.00M $200.00M 04/11/2024 $0.00M
Cash: $172.00M $172.00M 04/11/2024 $0.00M
Enterprise Value: $1,303.56M $1,700.64M 11/22/2023 $397.08M
Cash Flow: $401.54M $501.16M never $99.62M
Cash Flow Multiple: 3.18 3.34 never 0.16
Net Debt to
Cash Flow Ratio:		 0.07 0.06 never -0.01
Finance within 1 year: 04/11/2024 n/a
Misc 04/11/2024
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 85,968,582 85,968,582 04/11/2024 0
Shares (FD): 88,000,000 88,000,000 04/11/2024 0
Insider Ownership: n/a n/a never n/a
Dividend (Annual): n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 12/01/2015 04/11/2024 n/a
Production (Gold Eq Oz.): (guess) 
425,000		 (guess) 
425,000		 04/11/2024 0
Production (Silver Eq Oz.): (guess) 
35,628,888		 (guess) 
35,508,908		 04/11/2024 -119,980
Initial CapEx (Outstanding): n/a n/a 04/11/2024 n/a
Funding Option: n/a n/a 04/11/2024 n/a
Documentation: none PRODUCER 09/01/2024 n/a
Future MCap Modifier: 0.25
Producer: Quality
 0.25
Producer: Quality
 04/24/2023 0
Cash Flow Multiplier: 10 12 09/01/2024 2.00

Resource Data

GOLD 04/11/2024
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 4.00M 4.00M 04/11/2024 0.00M
Measured & Indicated: 4.50M 4.50M 04/11/2024 0.00M
Inferred: 1.00M 1.00M 04/11/2024 0.00M
Reserves & Resources: 5.50M 5.50M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 3.48M 3.48M 04/11/2024 0.00M
Measured & Indicated: 3.83M 3.83M 04/11/2024 0.00M
Inferred: 0.44M 0.44M 04/11/2024 0.00M
Reserves & Resources: 4.26M 4.26M never 0.00M
C
U
R
R
E
N
T		 Annual Production: (guess) 
425,000oz.		 (guess) 
425,000oz.		 04/11/2024 0oz.
Cash Cost: $850 $850 04/11/2024 $0.00
Extra Operating Cost: $550 $550 04/11/2024 $0.00
Total: $1,400 $1,400 04/11/2024 $0.00
Margin (Free Cash Flow): $945 (40%) $1,179 (46%) $234.40
G
R
A
D
E		 Underground (Avg): 4.00 g/t 4.00 g/t 04/11/2024 n/a
Open Pit (Avg): n/a 2.50 g/t 03/24/2024 2.50 g/t
Recovery Rate: (CG)  87.00% (CG)  87.00% 09/01/2024 0.00%
F
U
T
U
R
E		 Proven & Probable: 5.00M 5.00M 04/11/2024 0.00M
Annual Production: 400,000oz. 350,000oz. 07/28/2024 -50,000oz.
Cash Cost: $900 $950 07/28/2024 $50
Extra Operating Cost: $500 $500 04/11/2024 $0
SILVER 04/11/2024
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 04/11/2024 0.00M
Measured & Indicated: n/a n/a 04/11/2024 0.00M
Inferred: n/a n/a 04/11/2024 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 04/11/2024 0.00M
Measured & Indicated: n/a n/a 04/11/2024 0.00M
Inferred: n/a n/a 04/11/2024 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 04/11/2024 $0.00
Extra Operating Cost: n/a n/a 04/11/2024 $0.00
Total: n/a n/a 04/11/2024 $0.00
Margin (Free Cash Flow): n/a $0.00
G
R
A
D
E		 Underground (Avg): n/a n/a 04/11/2024 n/a
Open Pit (Avg): n/a n/a 04/11/2023 n/a
Recovery Rate: n/a n/a 04/11/2024 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 04/11/2024 0.00M
Annual Production: n/a n/a 04/11/2024 n/a
Cash Cost: n/a n/a 04/11/2024 n/a
Extra Operating Cost: n/a n/a 04/11/2024 n/a

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
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 4.00M 4.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -1.13M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 3.48M 3.48M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -0.98M
Maximum Profit (Gold): $3,287.90M $4,103.62M n/a $815.71M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $3,287.90M $4,103.62M n/a $815.71M
Max Profit / Current MCap: 2.578 2.453 n/a -0.124
Max Profit Per Share (Gold): $37.36 $46.63 n/a $9.27
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $37.36 $46.63 n/a $9.27
Total Free Profit Per Share: $17.65 $20.83 n/a $3.18
FD MCap / Gold Eq.: $366.54 $480.64 n/a $114.10
FD MCap / Silver Eq.: $4.37 $5.75 n/a $1.38
FD MCap / Per Metal
as % Spot Price:		 15.63% 18.64% n/a 3.00%
Measured &
Indicated		 04/11/2024
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 4.50M 4.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -1.27M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 3.83M 3.83M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -1.08M
Maximum Profit (Gold): $3,616.69M $4,513.98M n/a $897.28M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $3,616.69M $4,513.98M n/a $897.28M
Max Profit / Current MCap: 2.835 2.699 n/a -0.137
Max Profit Per Share (Gold): $41.10 $51.30 n/a $10.20
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $41.10 $51.30 n/a $10.20
Total Free Profit Per Share: $21.39 $25.50 n/a $4.11
FD MCap / Gold Eq.: $333.22 $436.95 n/a $103.73
FD MCap / Silver Eq.: $3.97 $5.23 n/a $1.25
FD MCap / Per Metal
as % Spot Price:		 14.21% 16.94% n/a 2.73%

Reserves &
Resources		 04/11/2024
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 5.50M 5.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -1.55M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 4.26M 4.26M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -1.20M
Maximum Profit (Gold): $4,027.68M $5,026.93M n/a $999.25M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $4,027.68M $5,026.93M n/a $999.25M
Max Profit / Current MCap: 3.158 3.005 n/a -0.152
Max Profit Per Share (Gold): $45.77 $57.12 n/a $11.36
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $45.77 $57.12 n/a $11.36
Total Free Profit Per Share: $26.06 $31.32 n/a $5.27
FD MCap / Gold Eq.: $299.22 $392.36 n/a $93.14
FD MCap / Silver Eq.: $3.57 $4.70 n/a $1.13
FD MCap / Per Metal
as % Spot Price:		 12.76% 15.21% n/a 2.45%

Future Valuation (Cash Flow & Totals)

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