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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
OTCMKTS:TORXF USD
TSE:TXG CAD

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 8Moz. of gold in the reserves and resources category of which 4Moz. are in the measured and indicated category. They have a market capitalisation of ~$821.52M which is a fall of roughly 5% over the last twelve months. As of 04/21/2019 they have ~$250M debt and ~$120M cash. They have 85M shares outstanding and trade on the Toronto Stock Exchange and the over-the-counter markets.

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General Details

Financial 04/21/2019
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Mkt. Cap (FD): $863.00M $821.52M 04/21/2019 $-41.49M
Total Assets: $1,270.00M $1,270.00M 04/21/2019 $0.00M
Total Liabilities: $704.00M $704.00M 04/21/2019 $0.00M
Current Assets: $236.00M $236.00M 04/21/2019 $0.00M
Current Liabilities: $194.00M $194.00M 04/21/2019 $0.00M
Total Debt: $250.00M $250.00M 04/21/2019 $0.00M
Cash: $120.00M $120.00M 04/21/2019 $0.00M
Enterprise Value: $993.00M $951.52M 02/25/2000 $-41.49M
Cash Flow: $45.45M $124.06M never $78.61M
Cash Flow Multiple: 18.99 6.62 never -12.36
Net Debt to
Cash Flow Ratio:		 2.86 1.05 never -1.81
Finance within 1 year: 04/21/2019 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 04/21/2019 0.00%
Misc 04/21/2019
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 85,000,000 85,000,000 04/21/2019 0
Shares (FD): 87,000,000 87,000,000 04/21/2019 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 12/01/2015 04/21/2019 n/a
Production (Gold Eq Oz.): (guess) 
370,000		 (guess) 
370,000		 04/21/2019 0
Production (Silver Eq Oz.): (guess) 
31,525,384		 (guess) 
42,458,576		 04/21/2019 10,933,191
Initial CapEx (Outstanding): n/a n/a 04/21/2019 n/a
Funding Option: n/a n/a 04/21/2019 n/a
Documentation: none PRODUCER 09/02/2019 n/a
Value Adjustment: 25% 25% never 0%

Resource Data

GOLD 04/21/2019
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 3.60M 3.60M 04/21/2019 0.00M
Measured & Indicated: 4.00M 4.00M 04/21/2019 0.00M
Inferred: 4.00M 4.00M 04/21/2019 0.00M
Reserves & Resources: 8.00M 8.00M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 3.13M 3.13M 04/21/2019 0.00M
Measured & Indicated: 3.41M 3.41M 04/21/2019 0.00M
Inferred: 1.74M 1.74M 04/21/2019 0.00M
Reserves & Resources: 5.15M 5.15M never 0.00M
C
U
R
R
E
N
T		 Annual Production: (guess) 
370,000oz.		 (guess) 
370,000oz.		 04/21/2019 0oz.
Cash Cost: $750 $750 04/21/2019 $0.00
Extra Operating Cost: $350 $350 04/21/2019 $0.00
Average Grade: 2.50 g/t 2.50 g/t 04/21/2019 n/a
Recovery Rate: (CG)  87.00% (CG)  87.00% 09/02/2019 0.00%
F
U
T
U
R
E		 Proven & Probable: 6.00M 6.00M 04/21/2019 0.00M
Annual Production: 400,000oz. 400,000oz. 04/21/2019 0oz.
Cash Cost: $750 $750 04/21/2019 $0
Extra Operating Cost: $350 $350 04/21/2019 $0
SILVER 04/21/2019
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 04/21/2019 0.00M
Measured & Indicated: n/a n/a 04/21/2019 0.00M
Inferred: n/a n/a 04/21/2019 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 04/21/2019 0.00M
Measured & Indicated: n/a n/a 04/21/2019 0.00M
Inferred: n/a n/a 04/21/2019 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 04/21/2019 $0.00
Extra Operating Cost: n/a n/a 04/21/2019 $0.00
Average Grade: n/a n/a 04/21/2019 n/a
Recovery Rate: n/a n/a 04/21/2019 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 04/21/2019 0.00M
Annual Production: n/a n/a 04/21/2019 n/a
Cash Cost: n/a n/a 04/21/2019 n/a
Extra Operating Cost: n/a n/a 04/21/2019 n/a

Property

Last Analysis Data  (04/21/2019)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Mexico City, Mexico Morelos - El Limon 100% 29,000 Open Pit show
Close to completing permitting and financing. Very large open pit.

Construction began in 2014.
Production 2016.

4 million oz deposit.

350,000 oz per year.

All-in costs under $1000.
Exploration Mexico Morelos - Media Luna 100% (guess) n/a Open Pit show
There 2nd mine. Perhaps in 2020.

4 million oz inferred. Next to El Limon. They can use the same mill.
Total Land Package Size (ha): 29,000  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Mexico City, Mexico Morelos - El Limon 100% 29,000 Open Pit show
Close to completing permitting and financing. Very large open pit.

Construction began in 2014.
Production 2016.

4 million oz deposit.

350,000 oz per year.

All-in costs under $1000.
Exploration Mexico Morelos - Media Luna 100% (guess) n/a Open Pit show
There 2nd mine. Perhaps in 2020.

4 million oz inferred. Next to El Limon. They can use the same mill.
Total Land Package Size (ha): 29,000  

Profitability (by resource)

Proven &
Probable		 04/21/2019
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.): 3.60M 3.60M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 106.38M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 3.13M 3.13M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 92.55M
Maximum Profit (Gold): $480.96M $1,312.70M n/a $831.74M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $480.96M $1,312.70M n/a $831.74M
Max Profit / Current MCap: 0.557 1.598 n/a 1.041
Max Profit Per Share (Gold): $5.53 $15.09 n/a $9.56
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $5.53 $15.09 n/a $9.56
Total Free Profit Per Share: $0.00 $1.72 n/a $1.72
FD Mkt. Cap / Gold Eq.: $275.54 $262.30 n/a $-13.25
FD Mkt. Cap / Silver Eq.: $3.23 $2.29 n/a $-0.95
FD Mkt. Cap / Per Metal
as % Spot Price:		 21.60% 16.61% n/a -4.99%
Measured &
Indicated		 04/21/2019
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 118.20M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 3.41M 3.41M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 100.77M
Maximum Profit (Gold): $523.71M $1,429.38M n/a $905.67M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $523.71M $1,429.38M n/a $905.67M
Max Profit / Current MCap: 0.607 1.740 n/a 1.133
Max Profit Per Share (Gold): $6.02 $16.43 n/a $10.41
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $6.02 $16.43 n/a $10.41
Total Free Profit Per Share: $0.00 $3.06 n/a $3.06
FD Mkt. Cap / Gold Eq.: $253.05 $240.89 n/a $-12.16
FD Mkt. Cap / Silver Eq.: $2.97 $2.10 n/a $-0.87
FD Mkt. Cap / Per Metal
as % Spot Price:		 19.84% 15.26% n/a -4.58%

Reserves &
Resources		 04/21/2019
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.): 8.00M 8.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 236.39M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 5.15M 5.15M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 152.19M
Maximum Profit (Gold): $790.91M $2,158.66M n/a $1,367.75M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $790.91M $2,158.66M n/a $1,367.75M
Max Profit / Current MCap: 0.916 2.628 n/a 1.711
Max Profit Per Share (Gold): $9.09 $24.81 n/a $15.72
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $9.09 $24.81 n/a $15.72
Total Free Profit Per Share: $0.00 $11.44 n/a $11.44
FD Mkt. Cap / Gold Eq.: $167.56 $159.51 n/a $-8.05
FD Mkt. Cap / Silver Eq.: $1.97 $1.39 n/a $-0.58
FD Mkt. Cap / Per Metal
as % Spot Price:		 13.14% 10.10% n/a -3.04%

Future Valuation (Cash Flow & Totals)

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