Torex Gold Resources Inc.

Torex Gold Resources Inc. (TSX: TXG) is an intermediate producer of gold and other precious metals, engaged in the exploration, development, and exploration of its wholly owned Morelos Gold Property. The property consists of 29,000 hectares in the Guerrero Gold Belt, located 180 kilometres southwest of Mexico City and approximately 50 kilometres southwest of Iguala. Within this property, the company has two assets: the El Limon-Guajes Mine, an open pit gold deposit located north of the Balsas river, and the Media Luna Project, which is at an advanced stage of exploration.

As per our previous ‘Earnings Hunter’ Report published on TXG as on 14^th July 2025, Kalkine provided an ‘Attractive’ stance on the stock at CAD 43.85 based on ‘Earnings Hunter Score’, and the stock price is now trading above the Resistance levels.

 Noted below are the details of support and resistance levels provided in our previous report:

TXG’s Daily Chart

Considering the resistance, risk-reward scenario, current trading levels and uncertain macro environment, the stock seems ‘Unattractive’ at the closing market price of CAD 50.84 (as on 2^nd September 2025). 

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate.

Torex Gold Resources Inc. (TSX: TXG) is a part of Kalkine’s Earnings Hunter Report

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 14^th July 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the Toronto Stock Exchange (TSX) and or REFINITIV. Typically, both sources (TSX and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’