$1B Media Luna Build Complete, Torex Targets Growth and Returns

Video Description

Torex Gold (TSX: TXG) President and CEO Jody Kuzenko called 2025 an “extraordinary year for Torex Gold,” with the completion of the Media Luna mine in Guerrero, Mexico. The billion-dollar build, which was declared commercial in May, was largely funded from internal cash flow. Torex finished with $230 million of debt and $100 million of cash. “Media Luna is now behind us. We are free cash flowing again, and what that means now is Torex has 10 years of mine life ahead of us at between 450 and 500,000 ounces of gold equivalent,” Kuzenko told Kitco Mining at Mining Forum Americas 2025. At current gold prices, the company expects about $450 million of free cash flow in 2026. Media Luna anchors the broader Morelos property, which has produced 3.5 million ounces, hosts 10 million ounces in resources, and remains 75% unexplored. Torex is backing exploration while preparing to return capital. A $10 million buyback was completed earlier this year, and with Q3 set to be the first free cash flow positive quarter post-Media Luna, a sustainable dividend will follow. Kuzenko noted Torex has hit production guidance six years in a row, underscoring its operating track record. With Media Luna built and cash flow accelerating, she said the company is positioned for growth, balance sheet strength, and shareholder returns. Don’t forget to subscribe to our YouTube channel to stay up to date on the latest industry news and interviews. Special thanks to our sponsor, Metalla Royalty & Streaming Ltd, for making this coverage possible 👉 To learn more, visit https://metallaroyalty.com 00:20 Torex Mines' Transformational Year 01:06 Financial Success and Future Plans 04:41 Strategic Decisions and Execution 06:14 Capital Allocation and Shareholder Returns 08:33 M&A Strategy and Market Position 13:12 Operating Environment in Mexico 17:39 Looking Ahead: Key Catalysts __________________________________________________________________ Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices. Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.com Stay connected with us X - https://x.com/KitcoMining Instagram - https://www.instagram.com/kitcomining LinkedIn - https://www.linkedin.com/company/kitco-mining Facebook - https://www.facebook.com/KitcoMining Connect with the Kitco Mining anchors Paul Harris - https://x.com/paulharrisgold For more in-depth mining coverage, visit us here - https://www.kitco.com/mining Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc.