Torex Gold Resources Inc. produced 96,297 gold equivalent ounces during the second quarter of 2026, generating $94.2 million in free cash flow and $113.8 million in net income.

Production tracked to plan as operations mined through lower-grade and lower gold recovery areas at Media Luna. The company maintained its full-year production guidance range of 420,000 to 470,000 gold equivalent ounces, supported by expected higher grades in the second half of the year.

All-in sustaining costs reached $2,459 per gold equivalent ounce sold during the quarter, increasing from $1,917 per ounce in the first quarter of 2026. The higher costs reflected lower grades, increased plant reagent consumption and unit pricing, and the continued strength of the Mexican peso. Consequently, Torex revised its full-year all-in sustaining costs guidance to between $2,000 and $2,100 per ounce sold, compared with the previous forecast of $1,750 to $1,850 per ounce.

Revenue for the quarter totaled $406.9 million based on 92,351 gold equivalent ounces sold at an average realized price of $4,525 per ounce. Operating cash flow reached $167.6 million before non-cash working capital changes, after accounting for $39.3 million in site-based employee profit-sharing payments for 2025 in Mexico.

The company returned $55 million to shareholders during the quarter through share repurchases and dividends, bringing total year-to-date returns to $176.2 million. A quarterly dividend of C$0.16 per common share is payable on September 4, 2026, to shareholders of record on August 21, 2026. Available liquidity closed at $506.3 million, including $169.4 million in cash and $336.9 million available on an undrawn revolving credit facility extended to June 2030.

Project development remains active across the portfolio. First production at the Media Luna North project stays on schedule for late 2026 following $12.0 million in non-sustaining capital expenditures during the quarter. Torex also commenced work on a prefeasibility study for the Los Reyes project in Sinaloa, Mexico, following the completion of its preliminary economic assessment. Torex acquired the Los Reyes project in October 2025 through the purchase of Prime Mining Corp. The prefeasibility study is expected to be completed by late 2027.

Read the full announcement: Torex Gold Reports Q2 2026 Results