Torex Gold Reports Q4 and Full-Year 2025 Results

Core Insights - Torex Gold Resources Inc. reported a transformational year in 2025, achieving significant milestones including the completion of the Media Luna Project and returning to strong free cash flow [2][4]. Financial Performance - The company achieved record annual revenue of $1.3 billion and record annual adjusted EBITDA of $730 million [4][6]. - Annual payable production reached 376,364 gold equivalent ounces, slightly below the guidance of 400,000 to 450,000 ounces [6]. - The average realized gold price for the year was $3,612 per ounce, contributing to a record all-in sustaining costs margin of 51% [4][6]. Operational Highlights - In Q4 2025, payable production was 114,844 gold equivalent ounces, with expectations to maintain production levels through 2026 [3][17]. - The Media Luna Project is on track to achieve steady-state production of 7,500 tonnes per day by mid-2026 [3][5]. - The company maintained a lost-time injury frequency of 0.07 per million hours worked, marking one of its safest years [6][19]. Capital Management - Torex executed an inaugural return of capital program, including a quarterly dividend of C$0.15 per share and repurchased over 825,000 shares during the year [9][11]. - The company ended the year with $426.3 million in available liquidity, including $119.5 million in cash [6][19]. Growth Strategy - Torex expanded its portfolio through acquisitions of Prime Mining and Reyna Silver, enhancing its growth potential in Northern Mexico and Nevada [2][6]. - The company plans to invest a record $77 million in exploration and drilling in 2026, focusing on near-mine opportunities [6][10]. CEO Transition - Jody Kuzenko will retire as President and CEO on June 17, 2026, with Andrew Snowden set to assume the role [7].