The company said it sold 449,330oz in 2019 at an average realised price of more than US$1,405/oz.

"We delivered a solid result to close out 2019 with El Limon Guajes delivering the second highest quarter of production on record. The operational performance allowed us to achieve record annual gold production of over 450,000oz, placing us towards the upper end of the guided range," said president and CEO Fred Stanford.

Although falling short of giving production guidance, the company said it expected 2020 to be another solid year of production. The company also aims to advance its Media Luna project towards construction, prove up the potential of its Muckahi production system, and extend higher grade mineralisation at Sub-Sill and El Limón Guajes.

"We overcame several challenges at the start of the year, rebounding quickly to deliver the highest three quarters of production to date out of El Limon Guajes," said COO Jody Kuzenko in a statement.

Shares in Torex Gold Resources are trading at C$20.38, valuing the company at $1.7 billion.