Torex Gold Lifts 2026 Production Outlook, Forecasts Robust Cash Flow

All-in sustaining costs (AISC) are guided at $1,750 to $1,850 per ounce of gold equivalent sold, modestly higher year-on-year.

SEATTLE (Scrap Monster): Torex Gold Resources Inc. has released its 2026 operational guidance and updated five-year production outlook for the Morelos Complex, outlining a significant step-up in output and cash flow generation.

The company expects gold equivalent production in 2026 to range between 420,000 and 470,000 ounces, with payable sales guided at 410,000 to 460,000 ounces, compared with payable production of 376,586 ounces in 2025.

Torex Gold Achieved First Copper Concentrate Output from Media Luna

The increase reflects a full year of processing plant operations, the ramp-up of the Media Luna underground mine to steady-state production of 7,500 tonnes per day by mid-2026, and stable output from the ELG Underground mine. On a metal-specific basis, Torex forecasts 320,000 to 365,000 ounces of gold, 2.2 to 2.5 million ounces of silver, and 60 to 65 million pounds of copper in 2026.

All-in sustaining costs (AISC) are guided at $1,750 to $1,850 per ounce of gold equivalent sold, modestly higher year-on-year due to stronger assumed metal prices and currency impacts, partly offset by economies of scale. Capital expenditures are projected at $285 to $305 million, alongside a record $77 million exploration budget. Torex said it is well-positioned to generate strong free cash flow, advance organic growth, and return capital to shareholders.