Despite a blockade of its El Limon Guajes mine complex in southwestern Mexico from November 2017 until early April 2018, Torex Gold Resources (TSX: TXG) managed to put out solid quarterly results over the last six months.
The company reported 75 days of partial operations in the first quarter due to the blockade and challenging operating conditions, and yet managed to produce 67,000 ounces of gold in dore in the three months ended March 31. An additional 8,000 ounces of gold were shipped in carbon fines.
In the second quarter ended June 30, Torex produced 78,796 ounces of gold in dore and an additional 1,300 ounces in carbon fines.
The blockade began on Nov. 3, 2017, when a group of about 20 unionized workers demanded a change in labour union. Torex told the workers earlier that day that it did not have the authority to change the union and that any changes had to go through the government. The blockade ended on April 6.
Processing operations have continued uninterrupted since their restart in mid-January and mining in the El Limon pit resumed on April 6.
The El Limon Guajes (ELG) complex consists of the El Limon, Guajes and El Limon Sur open pits, the El Limon Guajes underground mine (including development zones referred to as Sub-Sill and El Limon Deep), and a processing plant.
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