09:48 AM EDT, 04/06/2018 (MT Newswires) -- Torex Gold Resources Inc. (TXG.TO) has jumped 40% from near year low levels after it reported Friday that negotiations between community leaders have resulted in an end to the 'illegal' blockades of the company's ELG Mine Complex, supporting infrastructure, and the Media Luna Project, all of which are in southwest Mexico. TSX noted processing operations have continued uninterrupted since the restart in mid January. Mining in the El Limon Pit is expected to resume today, it said.

Fred Stanford, President & CEO, in a statement said: "We are more than pleased that we can now get back to unimpeded operations and value creation for the company's shareholders and all stakeholders. During the first quarter, the quality of the team, and the asset, were clearly evident as they pulled together under very challenging operating conditions and produced 67,000 ounces of gold in Dore. They also shipped 8000 gold ounces in carbon fines. Looking forward, the operations are well positioned to complete the ramp-up in 2018 and to move forward with optimization and development initiatives.

According to the statement, the official government regulated process for selecting between the two competing unions, continues. Since mid-March, there have been two public hearings at the Federal Labour Board, regarding the timing of a union selection vote. Torex said it understands the public hearing stage of the process is now complete, and that the next stage is a decision as to when and where the vote will occur. "As Torex has said since the beginning, the Company will work with whichever union the workers democratically select."

Price: 10.74, Change: +3.08, Percent Change: +40