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(Wallace Refiners) – Torex Gold Resources (TSX: TXG) announced today that the company has repaid early the remaining $40 million of debt in relation to the 2019 debt facility and is now debt free other than approximately $5 million of finance leases.
In addition, the company’s wholly-owned subsidiary Minera Media Luna has signed a third amended and restated credit agreement in connection with a two-year senior secured $150 million revolving debt facility.
The company may use the 2021 revolving facility for general corporate and working capital purposes, including certain development expenditures and acquisitions, and can be used for letters of credit or funding of capital expenditures.
Jody Kuzenko, President & CEO of Torex, stated, “With no remaining long-term debt, Torex has never been in a stronger financial position. Importantly, the amended facility allows for greater financial flexibility as we lay the foundation for our future in Morelos and beyond.”
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 kilometers southwest of Mexico City. The company’s principal assets are the El Limón Guajes mining complex.
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