UPDATE: Torex Completes Bankable Feasibility Study for Morelos Project; Shares Slip 2% at Midday; TSX Most Active
Torex Gold Resources Inc. (TXG.TO) is down nearly 2% at midday, to $1.77. More than 5.5 million shares have changed hands, making Torex the most actively traded on the TSX.
The company yesterday announced that it has completed the Morelos Gold Project's bankable feasibility study ("BFS") dated August 30, 2012. The company will initiate procedures that will, pending the arrangement of acceptable project financing, lead to the implementation of BFS recommendations to develop and bring the Morelos Gold Project (the "Project") to commercial production.
The Project consists of a proposed open pit mine and cyanide leach/carbon in pulp ("CIP") mill, approximately 180 km southwest of Mexico City. The BFS was authored by M3 Engineering & Technology Corporation of Tucson, Arizona, who has extensive experience with successful projects in Mexico.
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