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Torex Gold Resources Inc

www: torexgold.com   email: info@torexgold.com
Category: Emerging Major
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Symbol Data

Symbol Currency
TSE:TXG CAD
OTCMKTS:TORXF USD

Description

Torex Gold Resources Inc are a gold focused emerging major with one producing mine in Mexico, one mine in development in Mexico and exploration properties. Currently they produce roughly 400koz. of gold per year. They have approximately 12Moz. of gold in the reserves and resources category of which 9Moz. are in the measured and indicated category. They have a market capitalisation of ~$3957.49M which is a fall of roughly 22% over the last two months. As of 04/11/2026 they have no debt and ~$119M cash. They have 95M shares outstanding and trade on the Toronto Stock Exchange and the over-the-counter markets.

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General Details

Financial 04/11/2026
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
MCap (FD): $5,099.44M $3,957.49M 04/11/2026 $-1,141.95M
MCap (OS): $4,615.30M $3,581.77M 04/11/2026 $-1,033.53M
Total Assets: $3,000.00M $3,000.00M 04/11/2026 $0.00M
Total Liabilities: $600.00M $600.00M 04/11/2026 $0.00M
Current Assets: $173.00M $173.00M 04/11/2026 $0.00M
Current Liabilities: $194.00M $194.00M 04/11/2026 $0.00M
Total Debt: $0.00M $0.00M 04/11/2026 $0.00M
Cash: $119.00M $119.00M 04/11/2026 $0.00M
Debt (Net): $-119.00M $-119.00M $0.00M
Enterprise Value: $4,980.44M $3,838.49M $-1,141.95M
Cash Flow: $819.30M $548.35M never $-270.95M
Cash Flow Multiple: 6.22 7.22 never 0.99
Net Debt to
Cash Flow Ratio:		 n/a n/a never 0.00
Finance within 1 year: 04/11/2026 n/a
Misc 04/11/2026
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 95,031,374 95,031,374 04/11/2026 0
Shares (FD): 105,000,000 105,000,000 04/11/2026 0
Insider Ownership: n/a n/a 04/11/2026 n/a
Dividend (Annual): n/a n/a 06/03/2026 n/a
Company Type: Mostly Gold Mostly Gold never n/a
Group: Producer Producer never n/a
Production ETA: n/a 12/01/2015 04/11/2026 n/a
Production (Gold Eq Oz.): (guess) 
400,000		 (guess) 
400,000		 04/11/2026 0
Production (Silver Eq Oz.): (guess) 
24,997,368		 (guess) 
25,611,073		 04/11/2026 613,705
Development Phase: Producer (Multiple Mines) Producer (Multiple Mines) 04/11/2026 n/a
Optionality Play: none No
F
U
T
U
R
E		 % of Spot: 25
Producer: Quality
 25
Producer: Quality
 04/11/2026 0
Cash Flow Multiple: 18 18 04/11/2026 0.00

Resource Data

GOLD 04/11/2026
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 5.00M 5.00M 04/11/2026 0.00M
Measured & Indicated: 9.00M 9.00M 04/11/2026 0.00M
Inferred: 3.00M 3.00M 04/11/2026 0.00M
Reserves & Resources: 12.00M 12.00M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 4.35M 4.35M 04/11/2026 0.00M
Measured & Indicated: 7.13M 7.13M 04/11/2026 0.00M
Inferred: 1.31M 1.31M 04/11/2026 0.00M
Reserves & Resources: 8.44M 8.44M never 0.00M
C
U
R
R
E
N
T		 Annual Production: (guess) 
400,000oz.		 (guess) 
400,000oz.		 04/11/2026 0oz.
Cash Cost: $1,700 $1,700 04/11/2026 $0.00
Extra Operating Cost: $1,000 $1,000 04/11/2026 $0.00
Total: $2,700 $2,700 04/11/2026 $0.00
Margin (Free Cash Flow): $2,048 (43%) $1,371 (34%) $-677.37
MCap / Production (AuEq): $12,748.59 $9,893.72 $-2,854.87
EV / Production (AuEq): $12,451.09 $9,596.22 $-2,854.87
G
R
A
D
E		 Underground (Avg): 4.00 g/t 4.00 g/t 04/11/2026 n/a
Open Pit (Avg): n/a 2.50 g/t 04/11/2026 n/a
Recovery Rate: (CG)  87.00% (CG)  87.00% 06/03/2026 0.00%
F
U
T
U
R
E		 Proven & Probable: 9.00M 9.00M 04/11/2026 0.00M
Annual Production: 450,000oz. 450,000oz. 04/11/2026 0oz.
Cash Cost: $1,900 $1,900 04/11/2026 $0
Extra Operating Cost: $1,000 $1,000 04/11/2026 $0
SILVER 04/11/2026
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 04/11/2026 0.00M
Measured & Indicated: n/a n/a 04/11/2026 0.00M
Inferred: n/a n/a 04/11/2026 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 04/11/2026 0.00M
Measured & Indicated: n/a n/a 04/11/2026 0.00M
Inferred: n/a n/a 04/11/2026 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 04/11/2026 $0.00
Extra Operating Cost: n/a n/a 04/11/2026 $0.00
Total: n/a n/a 04/11/2026 $0.00
Margin (Free Cash Flow): n/a $0.00
MCap / Production (AgEq): $204.00 $154.52 $-49.48
EV / Production (AgEq): $199.24 $149.88 $-49.36
G
R
A
D
E		 Underground (Avg): n/a n/a 04/11/2026 n/a
Open Pit (Avg): n/a n/a 04/11/2026 n/a
Recovery Rate: n/a n/a 04/11/2026 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 04/11/2026 0.00M
Annual Production: n/a n/a 04/11/2026 n/a
Cash Cost: n/a n/a 04/11/2026 n/a
Extra Operating Cost: n/a n/a 04/11/2026 n/a

Property

Last Analysis Data  (04/11/2026)
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Prod Morelos
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.

Size: 29,000 ha
Dev Los Reyes
100 show
Production planned for 2031
2.5M oz AUEQ
Current Data
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Prod Morelos
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.

Size: 29,000 ha
Dev Los Reyes
100 show
Production planned for 2031
2.5M oz AUEQ
Exp Batopila
100 show
Early exploration

Size: 1,200 ha
Exp Don Porfoio
100 show
Early exploration

Size: 4,000 ha
Exp El Durazno
51 show
Early exploration

Size: 24,000 ha
Exp Guigui
100 show
Early exploration

Size: 6,500 ha
Exp La Centella
100 show
Early exploration

Size: 4,500 ha
Exp La Gloria
100 show
Early exploration

Size: 24,000 ha
Exp Los Reyes
100 show
Large mine in the making.

Size: 6,300 ha
Exp Gryphon
100 show
Early exploration

Size: 10,000 ha
Exp Medicine Springs
100 show
Drilling

Size: 4,800 ha

Profitability (by resource)

Proven &
Probable		 04/11/2026
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.): 5.00M 5.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 7.67M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 4.35M 4.35M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 6.67M
Maximum Profit (Gold): $8,909.89M $5,963.33M n/a $-2,946.56M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $8,909.89M $5,963.33M n/a $-2,946.56M
Max Profit / Current MCap: 1.747 1.507 n/a -0.240
Max Profit Per Share (Gold): $84.86 $56.79 n/a $-28.06
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $84.86 $56.79 n/a $-28.06
Total Free Profit Per Share: $17.72 $4.23 n/a $-13.48
FD MCap / Gold Eq.: $1,172.28 $909.77 n/a $-262.52
FD MCap / Silver Eq.: $18.76 $14.21 n/a $-4.55
FD MCap / Per Metal
as % Spot Price:		 24.69% 22.35% n/a -2.34%
EV / Gold Eq.: $1,144.93 $882.41 n/a $-262.52
EV / Silver Eq.: $18.32 $13.78 n/a $-4.54
EV / Per Metal
as % Spot Price:		 24.11% 21.68% n/a -2.44%
Measured &
Indicated		 04/11/2026
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.): 9.00M 9.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 13.81M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 7.13M 7.13M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 10.95M
Maximum Profit (Gold): $14,612.22M $9,779.86M n/a $-4,832.36M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $14,612.22M $9,779.86M n/a $-4,832.36M
Max Profit / Current MCap: 2.865 2.471 n/a -0.394
Max Profit Per Share (Gold): $139.16 $93.14 n/a $-46.02
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $139.16 $93.14 n/a $-46.02
Total Free Profit Per Share: $72.02 $40.58 n/a $-31.44
FD MCap / Gold Eq.: $714.81 $554.74 n/a $-160.07
FD MCap / Silver Eq.: $11.44 $8.66 n/a $-2.77
FD MCap / Per Metal
as % Spot Price:		 15.05% 13.63% n/a -1.43%
EV / Gold Eq.: $698.13 $538.06 n/a $-160.07
EV / Silver Eq.: $11.17 $8.40 n/a $-2.77
EV / Per Metal
as % Spot Price:		 14.70% 13.22% n/a -1.49%

Reserves &
Resources		 04/11/2026
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.): 12.00M 12.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 18.41M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 8.44M 8.44M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 12.95M
Maximum Profit (Gold): $17,285.18M $11,568.86M n/a $-5,716.33M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $17,285.18M $11,568.86M n/a $-5,716.33M
Max Profit / Current MCap: 3.390 2.923 n/a -0.466
Max Profit Per Share (Gold): $164.62 $110.18 n/a $-54.44
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $164.62 $110.18 n/a $-54.44
Total Free Profit Per Share: $97.48 $57.62 n/a $-39.86
FD MCap / Gold Eq.: $604.27 $468.95 n/a $-135.32
FD MCap / Silver Eq.: $9.67 $7.32 n/a $-2.35
FD MCap / Per Metal
as % Spot Price:		 12.73% 11.52% n/a -1.21%
EV / Gold Eq.: $590.17 $454.85 n/a $-135.32
EV / Silver Eq.: $9.44 $7.10 n/a $-2.34
EV / Per Metal
as % Spot Price:		 12.43% 11.17% n/a -1.26%

Future Valuation (Cash Flow & Totals)

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