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.
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.
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.
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.