Torex Gold Resources Inc. announced operating results for the year 2016. The company reported 279,937 ounces of gold were poured and 275,613 ounces of gold were sold in 2016, the first year of operations at its El Limon-Guajes Mine located in southwest Mexico.

The company expects to sell between 350,000 and 380,000 ounces of gold in 2017, planned production levels are at name plate capacity of 14,000 tpd, with 87% gold recovery and a processed grade of 2.67gpt.

The $23 million capital budget for 2017 to build the plant, has been categorized as development capital, and as such it is not included in the estimated AISC/oz. The company expects capex of $100 million to $130 million. Sustaining capital expenditures include approximately $60 million for capitalized stripping of waste in the two pits and $15 million for equipment, and projects, for the plant, pits and ponds. Non sustaining capital expenditures include $23 million for the SART plant, $11 million of El Limon mobile equipment, $10 million for an additional filter for the tailings filtration plant, and other minor deferred project capital. Non sustaining capital also includes $5 million for the El Limon Under the Sill ramp and $5 million for the Media Luna access ramp.