Last C$1.54 CAD
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torex gold resources inc (TXG) Snapshot

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09/3/14 - C$1.82
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04/15/14 - C$0.99
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torex gold resources inc (TXG) Details

Torex Gold Resources Inc. operates as a gold exploration and development company in Canada. The company is primarily involved in the acquisition, exploration, and development of mineral properties. It principally holds 100% interest in the Morelos Gold project comprising the El Limón and Guajes mineral deposits and the Media Luna deposit with 7 mineral concessions covering a land package of approximately 29,000 hectares located in Guerrero State, Mexico. The company was formerly known as Gleichen Resources Ltd. and changed its name to Torex Gold Resources Inc. in April 2010. Torex Gold Resources Inc. was founded in 1980 and is headquartered in Toronto, Canada.

270 Employees
Last Reported Date: 03/6/14
Founded in 1980

torex gold resources inc (TXG) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$500.0K
Chief Operating Officer
Total Annual Compensation: C$274.1K
Vice President of Human Resources
Total Annual Compensation: C$260.0K
Vice President of Exploration and Corporate D...
Total Annual Compensation: C$284.1K
Compensation as of Fiscal Year 2013.

torex gold resources inc (TXG) Key Developments

Torex Gold Resources Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Torex Gold Resources Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company’s net loss decreased to CAD 1.2 million compared with a net loss of CAD 13.8 million for the three months ended September 30, 2013. Exploration and evaluation expenditures were CAD 2.0 million compared to CAD 6.9 million for the three ended September 30, 2013. For the nine months, the company’s net loss decreased to CAD 11.5 million compared to CAD 41 million a year ago. Exploration and evaluation expenditures were CAD 7.4 million compared to CAD 37.8 million a year ago.

Torex Makes First Drawdown on the Loan Facility

Torex Gold Resources Inc. announced that a first drawdown in the amount of $45 million has been received under the previously announced $375 million 8-year senior secured project finance facility for the development of its El Limon-Guajes Project ("Project") in southwest Mexico. All conditions precedent for this first drawdown have been achieved and subsequent advances are expected to be received on a monthly basis, determined by project funding requirements.

Torex Gold Resources Inc Announces Infill Drilling Increases Measured and Indicated Gold Ounces At El Limon Sur

Torex Gold Resources Inc. announced that infill drilling in the El Limon Sur portion of the El Limon deposit has added a net 126,000 ounces of gold in the measured and indicated category. The El Limon Sur area is now estimated to contain 2.6 million tonnes in the measured and indicated categories, grading 2.73 g/t, for 225,000 ounces of gold, and 2.3 million tonnes, grading 2.45 g/t for 182,000 ounces of gold in the inferred category. This increases the total measured and indicated gold resource estimate for the El Limon-Guajes Project to 4.95 million from 4.80 million ounces of gold. The inferred gold resource estimate is now 0.58 million, down from 0.62 million ounces of gold. The mineral resource estimates have been prepared in compliance with National Instrument 43-101 and are based on the recent infill drilling program at the El Limon deposit on the Company's 100% owned Morelos project in Mexico.


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