Torex Targets Completion of New York Listing by Mid-November
Key Facts
Torex Resources is working to complete its application to list its common shares on the New York Stock Exchange as early as mid-November 2026, according to a filing with the U.S. Securities and Exchange Commission. The company said it has already submitted the application, but did not state in the public filing that the listing had received final approval. It stressed that the New York Stock Exchange may not approve the proposed listing and that the expected timing may not be met. The company received permission from the exchange in September 2026 to apply for the listing. The move is part of an effort to expand its presence in the U.S. capital markets, with the listing still subject to completing the procedures and receiving exchange approval.
Torex says the expected secondary listing in New York could give it greater access to capital markets and raise its profile among investors. It also expects the listing to help improve the trading liquidity of its shares and expand research coverage of the company. It presented these outcomes as potential benefits of the listing, not effects that have already been realized. The application comes as the company's shares have traded on the Toronto Stock Exchange under the new name and ticker, Torex Resources and TXR, since 3 November 2026. It announced on 28 October that it was changing its name from Torex Gold Resources to Torex Resources, according to its material change report.
The company presents a production profile that remains centered on gold, with its activities expanding to include silver and copper following the start-up of the Media Luna project. Torex expects annual production of between 2.5 and 2.8 million ounces of silver, and between 70 and 75 million pounds of copper. In the third quarter of 2026, it produced 131,900 gold equivalent ounces, compared with 121,780 ounces in the same period of 2025. The company said all-in sustaining costs per ounce of gold equivalent sold fell 27% from the previous quarter, to 1,803 dollars in the third quarter. These figures link the listing application to a multi-metal mining business, while gold production remains a key indicator of its operating performance.
Torex recorded revenue of 555 million dollars in the third quarter of 2026, while adjusted earnings before interest, taxes, depreciation and amortization reached 344 million dollars. In terms of year-to-date production, the company said it had produced 329,071 gold equivalent ounces from the start of the year through the end of the third quarter. It added that it remains on track to achieve the midpoint of its annual guidance range, set at between 420,000 and 470,000 gold equivalent ounces in 2026. This guidance reflects the company's estimate for full-year production, while the nine-month figures represent production achieved so far. The company did not link these results in the filing to a guarantee of New York Stock Exchange approval for the listing.
In a separate financial move, the company announced on 4 November 2026 a quarterly dividend of 0.16 Canadian dollars per common share. It set 19 November as the record date for eligible shareholders, with payment scheduled for 3 December. The record date coincides with the period in which the company is targeting completion of its New York listing, but the filing does not say the dividend is related to the application. The company also pointed to a project to debottleneck processing, which is expected to begin in 2027. Potential benefits from the project may emerge late that year, according to Torex's estimate.