Analysts see the results as evidence of Torex’s operational dexterity as the company prepares to bring its $950 million Media Luna copper project in Guerrero state online by the end of March.
“Despite the operational challenges in the fourth quarter, Torex continues to deliver consistent results while nearing a significant turning point with Media Luna,” Canaccord Genuity analyst Jeremy Hoy said in a note on Thursday.
The project, 180 km southwest of Mexico City, will add sustained production of at least 450,000 gold-equivalent oz. per year through 2030, Hoy said. Media Luna, now 87% complete, is key to Torex’s strategy. It aims to grow production, diversify with copper and secure long-term cash flow.
The project is expected to ramp up underground mining rates to 7,500 tonnes per day by next year, contributing 45 million lb. copper yearly and boosting Torex’s long-term production profile.
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