# Torex Gold Reports Q4 and Full-Year 2025 Results

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/torex-gold-reports-q4-and-full-year-2025-results--5656f216-e8ed-4fa6-a9cd-27fc549c641e

Original source: https://money.tmx.com/en/quote/TXG/news/5954847864453574/torex-gold-reports-q4-and-full-year-2025-results

Publisher: tmx

Original announcement: 2026-02-18T23:00:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Torex Gold Resources Inc.

- Ticker: TXG

- Exchange: TSX

- Region: Guerrero, Mexico

- Primary commodity: Gold

- Secondary commodities: Silver, Copper

- Document categories: Production, Agreement transaction, Resource update

- Extracted: 2026-09-19 03:46:26 UTC

Narrative sentiment: 0.90 · Bullish

## Minestarters Atlas summary

Torex Gold reported strong Q4 and full-year 2025 results, achieving record quarterly free cash flow of $165.6 million which enabled full debt repayment. The company delivered annual payable production of 376,364 gold equivalent ounces, record annual revenue of $1.3 billion, and record adjusted EBITDA of $730.3 million. Strategic acquisitions of Prime Mining and Reyna Silver expanded its portfolio, and the Media Luna Project achieved commercial production and ramped up ahead of schedule.

Reasoning: Torex Gold reported exceptional Q4 and full-year 2025 results, highlighted by record free cash flow, full debt repayment, successful Media Luna ramp-up, and strategic acquisitions, despite higher-than-guided AISC.

- Positive factor: Record quarterly free cash flow generation enabled full repayment of debt.

- Positive factor: Strong operational performance, including Media Luna Project completion and ramp-up ahead of schedule.

- Positive factor: Record annual revenue of $1.3 billion and record annual adjusted EBITDA of $730 million.

- Positive factor: Strategic acquisitions of Prime Mining and Reyna Silver expanded the asset portfolio.

- Positive factor: Achieved one of the safest years ever with a lost-time injury frequency of 0.07 per million hours worked.

- Negative factor: Full-year all-in sustaining costs were above the guided range, largely due to higher gold prices.

Facts used in scoring: 13

## Classification and evidence

No classification tags are available.

## Extracted facts

Stored fact records: 1. Some facts used in scoring do not have a stored record.

## Resource Estimates (1)

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/torex-gold-reports-q4-and-full-year-2025-results--5656f216-e8ed-4fa6-a9cd-27fc549c641e#fact-resource-facts-12)

Media Luna West

#### Identity

- Project: Media Luna West
- Region: mexico
- Reported Region: Guerrero, Mexico
- Ticker: TXG

#### Resource scope

- Estimate type: resource
- Effective date: 2026-03-01T00:00:00.000Z
- Resource group id: resource:e8d7cc971aecefec8b05

#### Resource Data

- Category: inferred

#### Prior Estimate

- Resource Date: 2026-03-01

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-18T00:00:00.000Z

Reasoning: The company expects to declare an inaugural Inferred Resource for Media Luna West in March 2026, signaling successful exploration and potential for resource growth at the Morelos Complex.

- Positive factor: Upcoming inaugural Inferred Resource declaration indicates successful exploration and potential for future growth.

- Positive factor: Supports strategy to target near-mine opportunities to enhance and extend production profile.

Evidence · text

> Based on these results and ongoing modelling work, the Company expects to declare an inaugural Inferred Resource with the Company's annual mineral reserves and resources update in March 2026.

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.