Torex Gold Resources Inc Q1 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ryan Thompson - BMO Capital Markets Equity Research - Analyst : Just a couple of quick questions from me. First, we've seen a lot of talk in headlines recently about inflation. Can you just maybe walk us through if you're seeing any inflationary pressures, both just on operating costs at ELG and also as you work through the engineering and budgeting process on the Media Luna feasibility study?

Question: Ryan Thompson - BMO Capital Markets Equity Research - Analyst : Okay. And maybe just a follow-up on Media Luna. So you mentioned you're at about 300 meters of development now on the tunnel there. Can you just maybe just talk a little bit about where that sits versus your sort of internal schedule and expectations as to when you're going to access the ore body and how we should be thinking about the schedule? I know it's still early days, but just an update on that would be helpful.

Question: Bryce Adams - CIBC Capital Markets, Research Division - Analyst : I might just follow-on from where the last question left off, firstly. So from the Guajes Tunnel, you're about 300 meters in. The question is, when you transition to 10 meters per day, is that transition expected to be fairly rapid or would you expect some teething and some learning on that project and that the ramp-up to 10 meters per day might take a little bit of time to get to?

Question: Bryce Adams - CIBC Capital Markets, Research Division - Analyst : Okay. Second one on the south portal. Once you get started there, is that access point going to be developed back towards Guajes only or would it be a multi-heading system opening up the Media Luna infrastructure as well?

Question: Bryce Adams - CIBC Capital Markets, Research Division - Analyst : Yes. Okay. I think I might have had that portal mixed up with the bottom location that was talked about. On the Portal 3 and those ground conditions, you are 100 meters in there. It's been slow. From the disclosure, it sounds like you've been using steel sets in that decline. How far into the portal are you using those steel sets? And are they finished now? Do you expect to continue to be installing them?

Question: Bryce Adams - CIBC Capital Markets, Research Division - Analyst : So how far back from the sites are you maintaining those steel sets? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 13, 2021 / 1:00PM, TXG.TO - Q1 2021 Torex Gold Resources Inc Earnings Call

Question: Bryce Adams - CIBC Capital Markets, Research Division - Analyst : How far back from the face are the steel sets?

Question: Bryce Adams - CIBC Capital Markets, Research Division - Analyst : Yes. No worries. Last one for me, just a quick one on the ESG portal. Congratulations on that getting set up. I think it's a great step forward. Just a quick question at a pretty high level. Is that something that you expect to update annually or do you envisage a scenario where that portal could be updated quarterly with different ESG metrics?