The Investment Doctor
Long/short equity, value, debt, base metals

Torex Gold - Is There A Reason To Be Bullish?


In this article, I'll have a look at Torex Gold Resources (OTCPK:TORXF), a near-term gold mine developer in the Guerrero Gold Belt in Mexico, approximately 180 km south of Mexico City. The company is planning to develop its 5Moz+ gold mine at the El Limon zone of its 29,000 hectare Morelos project. This project is expected to cost $675M and was originally planned to start production in Q1 2015. In this article, I'll have a closer look at the El Limon Bankable Feasibility Study, run some numbers on the expected annual cash flow and talk about the risks, as Torex Gold needs to relocate a village. This will result in my investment thesis at the end of...

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