GREEN VALLEY, Ariz., Sept. 23, 2026 (GLOBE NEWSWIRE) -- NEXT10, Inc. (OTC: NXTN) ("NEXT10" or the "Company"), through Torreon Group, Inc., today announced that it activated its first mining operation in Mexico and commenced gold production at the Panuco gold mining operation effective August 1, 2026.
Earlier this year, NEXT10 invested approximately $507,000 in equipment, infrastructure and operating improvements to reactivate the Panuco operation. The Company currently expects to deploy approximately an additional $240,000 in the coming weeks as part of the next phase of production expansion.
Gold production began August 1 and is currently operating at approximately 20 ounces per month. As additional equipment, infrastructure and processing capacity are installed, management is targeting production of approximately 320 ounces of gold per month by mid-2027.
The operation is currently generating revenue, which the Company expects to begin reflecting in its reported financial results over the coming quarters.
The milestone represents an important transition for NEXT10 as the Company moves from acquiring and developing hard-asset opportunities into the activation, operation and expansion of revenue-producing assets.
"This is where strategy becomes an operating business," said John B. Hayden, Chairman and Chief Executive Officer of NEXT10, Inc. "Earlier this year, we committed approximately $507,000 to put this operation back to work. Gold production began August 1, the operation is now generating revenue, and we are continuing to invest behind the asset as we expand its productive capacity."
Hayden continued, "After more than four decades in business, I have learned that sustainable growth is built in stages. You deploy capital, establish operations, prove the process and then invest further where the results support it. We are currently producing approximately 20 ounces of gold per month. With the equipment, infrastructure and additional capital we plan to deploy, our objective is to build toward approximately 320 ounces per month by mid-2027. That disciplined approach to capital deployment is one we intend to apply across the NEXT10 portfolio."
The Company expects to continue investing in processing equipment, infrastructure and operating capacity over the coming months. These investments are intended to increase throughput, improve recovery capabilities and support the planned production ramp.
The approximately 320-ounce-per-month production objective is a management target and should not be interpreted as a guarantee of future production. Actual results may vary materially depending on equipment installation and commissioning, mine conditions, processing performance, recovery rates, available capital, commodity prices, operating costs and other operational and market factors.
NEXT10 intends to provide additional operating and financial updates as material milestones are achieved.
About NEXT10, Inc.
NEXT10, Inc. (OTC: NXTN), through Torreon Group, Inc. and its affiliated businesses, is focused on acquiring, developing and operating businesses and assets with an emphasis on opportunities backed by real estate and other hard assets.
The Company's strategy is to identify assets where additional capitalization, operating discipline and active management may improve operations, generate cash flow and create long-term enterprise value.
For additional information, visit www.torreongroupinc.com.
Mining and Technical Information
Unless expressly stated otherwise, information concerning production potential, anticipated grades, recoveries, throughput and future mining or processing activities is based on information provided by the Company, project operators and management estimates.
Commodity Prices and Capital Requirements
Future financial performance may be affected materially by changes in gold, copper and other commodity prices. The Company does not control commodity prices and makes no representation that any assumed or projected commodity price will be realized.
The Company's planned production expansion also depends, in part, on the availability and successful deployment of additional capital. There can be no assurance that required capital will be available when needed or on terms acceptable to the Company.
Forward-Looking Statements
This press release contains forward-looking statements regarding, among other matters, planned investments in mining equipment and infrastructure; anticipated increases in gold production; the Company's target of approximately 320 ounces of gold production per month by mid-2027; future revenue and financial results; and NEXT10's broader operating and growth strategy.
Forward-looking statements are based on management's current expectations, estimates and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied.
These risks include, among others, equipment availability and commissioning, mining and processing performance, recovery rates, geological and operating conditions, commodity prices, operating costs, capital requirements, financing availability, regulatory matters and general economic and market conditions.
There can be no assurance that planned investments will result in the targeted production levels, revenue or profitability. Past performance, historical results and management estimates are not guarantees of future results.
Forward-looking statements speak only as of the date of this release. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statement.
Contact
John B. Hayden
CHAIRMAN/CEO
TORREON GROUP INC/NEXT10
ir@torreongroupinc.com
