MANAGING THE RISKS ASSOCIATED WITH COVID-19
March 17 2020 - 5:00AM
Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG)
announces that to date, the Company has had no known or suspected
cases of COVID-19 infection at the El Limón Guajes operation in
Mexico, or at the corporate office in Toronto. Production continues
as per schedule, and Torex is focused on maintaining production and
protecting employees by keeping the virus away from the remote
operation.
Fred Stanford, President & CEO of Torex,
stated:
“Social distancing and health education play a
key role in our effort to protect employees and surrounding
communities. At the corporate office, we have taken the pragmatic
action of having employees work from home. At the operation, we
have stopped international travelers from coming to site. Social
distancing efforts at site are being implemented, which includes
isolating delivery drivers. Aggressive cleaning of communal areas
has also been ramped up. Education initiatives on infection
prevention have been extended to the surrounding communities.
“To protect the business, we have sourced the
predictable critical supplies needed to operate for an extended
period.
“The upcoming weeks promise to be worrisome for
everyone, with health and economic concerns at the forefront of
those worries. The team approach, which has resulted in an ongoing
safety performance of over 5.5 million hours worked without a lost
time injury, will be equally applicable in doing the right things
to combat the spread of this virus. Staying safe, healthy, and
doing what we can to maintain economic security, will get us
through these difficult times.”
Torex is actively monitoring events surrounding
COVID-19 in both Mexico and Canada. The Company will follow the
guidelines outlined by the governments of both countries, as well
as state, provincial, and local agencies in mitigating the risks
associated with COVID-19.
The Company also notes that some members of the
Senior Management team have recently purchased Torex shares in the
open market, including Fred Stanford, President & CEO.
About Torex Gold Resources
Inc.Torex is an intermediate gold producer based in
Canada, engaged in the exploration, development, and operation of
its 100% owned Morelos Gold Property, an area of 29,000 hectares in
the highly prospective Guerrero Gold Belt located 180 kilometres
southwest of Mexico City. The Company’s principal assets are the El
Limón Guajes mining complex (“ELG” or the “ELG Mine Complex”),
comprising the El Limón, Guajes and El Limón Sur open pits, the El
Limón Guajes underground mine including zones referred to as
Sub-Sill and ELD, and the processing plant and related
infrastructure, which commenced commercial production as of April
1, 2016, and the Media Luna deposit, which is an early stage
development project, and for which the Company issued an updated
preliminary economic assessment in September 2018 (the “Technical
Report”). The property remains 75% unexplored.
For further information, please contact:
TOREX GOLD RESOURCES INC. |
|
|
Fred Stanford President and CEO Direct: (647) 260-1502 Email:
fred.stanford@torexgold.com |
Dan Rollins Vice President, Corporate Development & Investor
Relations Direct: (647) 260-1503 Email:
dan.rollins@torexgold.com |
CAUTIONARY NOTES
Forward Looking StatementsThis
press release contains "forward-looking statements" and
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Notwithstanding the Company's
efforts, there can be no guarantee that the Company does not have
employees who have the COVID-19 infection or that the Company’s
measures to protect employees and surrounding communities from
COVID-19 will be effective. Forward-looking information also
includes, but is not limited to, statements that the Company is
focused on maintaining production and protecting employees by
keeping the virus away from the remote operation, plans to
implement at the El Limón Guajes operation measures, including
social distancing and aggressive cleaning of communal areas, plans
to extend education initiatives on infection prevention to the
surrounding communities, expectation that the Company has sourced
predictable critical supplies needed to operate for an extended
period, expectation that the Company’s team approach, which
has resulted in an ongoing safety performance of over 5.5 million
hours worked without a lost time injury, will be equally effective
to combat the spread of this virus, the Company’s expectation that
staying safe, healthy, and doing what the Company can do to
maintain economic security, will get the Company through these
difficult times without any material adverse effects, and the
Company’s intention to follow the guidelines outlined by the
governments of both countries, as well as state, provincial, and
local agencies in mitigating the risks associated with COVID-19.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "plans", "expects",
"believes", “future”, or variations of such words and phrases or
state that certain actions, events or results “can”, "may",
"could", "would", "might", "be achieved", “appears” or “focus on”.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including, without limitation, the
inability of the Company’s mining and exploration operations to
operate as intended due to shortage of skilled employees, shortages
in supply chains, inability of employees to access sufficient
healthcare, significant social upheavals, government or regulatory
actions or inactions, decreased demand or the inability to sell
precious metals or declines in the price of precious metals,
capital market volatility, or other unknown but potentially
significant impacts. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in the forward-looking
information, there may be other factors that cause results not to
be as anticipated. There can be no assurance that such information
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on
forward-looking information. The Company does not undertake to
update any forward-looking information, whether as a result of new
information or future events or otherwise, except as may be
required by applicable securities laws.
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