Welcome to our dedicated page for TRX Gold Corporation news (Ticker: TRX), a resource for investors and traders seeking the latest updates and insights on TRX Gold Corporation stock.
TRX Gold Corporation (NYSE American: TRX, TSX: TNX) is a prominent player in the gold mining sector, focused on the exploration and development of gold properties in Tanzania. The company's primary projects include the Buckreef Gold Project, located in the north-central region of Tanzania, the Kigosi Project in the Kigosi-Miyabi and Ushirombo greenstone belts, and the Itetemia Gold Project to the southwest of Mwanza. Additionally, TRX Gold is exploring the Lunguya and Luhala projects.
Founded in 1990 and based in Vancouver, Canada, TRX Gold was previously known as Tanzanian Royalty Exploration Corporation until it rebranded in 2019 to reflect its core business focus on gold. The company has made significant strides in the gold mining industry, recently achieving a remarkable production milestone of 20,000 ounces of gold. Their flagship Buckreef project is set to double its daily production capacity from 1,000 to 2,000 tonnes by the first half of 2024, thereby enhancing its output and resource estimates.
TRX Gold is committed to sustainable and responsible mining practices, ensuring minimal environmental impact while contributing to local economies. The company collaborates with local communities and the Tanzanian government to foster mutually beneficial partnerships.
In its latest developments, TRX Gold reported that a new 1,000 tpd (tonnes per day) ball mill has arrived at the Buckreef site, which is expected to significantly boost production. The company is on track to meet its full-year production guidance, demonstrating a robust financial and operational performance. Recent news highlights include:
- On Track to Meet Full Year Production Guidance: TRX Gold remains confident in achieving its production targets, supported by recent enhancements at its mining sites.
- New Ball Mill Arrived on Site: The installation of a new ball mill at Buckreef is set to enhance the processing capacity and efficiency of gold extraction.
- Record Year Marked by Exceptional Growth: The company has seen substantial growth, both in terms of production and resource expansion, marking a record year.
- Mill Expansion Advances to Increase Gold Production: Ongoing expansion activities at the Buckreef Gold Mine aim to increase processing capacity and gold output.
- TRX Gold Reports Second Quarter 2024 Results: The latest quarterly results underline the company's strong performance and continuous operational improvements.
With a strong financial foundation, solid partnerships, and a clear vision for growth, TRX Gold Corporation is poised to continue its trajectory of success in the gold mining industry.
TRX Gold has appointed Richard Boffey as its new Chief Operating Officer (COO), effective immediately. Boffey brings over 35 years of operational experience to the company's Buckreef Gold project. His extensive background includes senior executive positions in multinational mining companies, most recently as General Manager at Tara Resources Brskovo Mine Project in Montenegro.
Boffey's previous roles include COO at Matilda Gold Mine, General Manager positions at Khoemacau Copper Mine and Efemcukuru Gold Mine, and Regional Mining Manager at Barrick Gold He holds a Bachelor of Mining Engineering and is a Member of AusIMM. The company also announced the departure of former COO Andrew Cheatle, who also resigned from his director position.
TRX Gold reported strong year-end 2024 results, achieving annual production of 19,389 ounces of gold and record revenue of $41.2 million. The company recorded gross profit of $17.9 million and operating cashflow of $15.3 million. A significant milestone was the completion of their third plant expansion to 2,000 tonnes per day, funded by $14 million from operations.
The company announced the discovery of a new gold mineralization zone named Stamford Bridge Zone, yielding their best drill results ever. The Q4 2024 performance showed improved metrics with 5,767 ounces of gold production, representing a 25% increase over the previous quarter, and revenue of $13.6 million.
TRX Gold announces exceptional drill results from the Stamford Bridge Shear Zone, with hole BMDD315 intersecting 37 metres @ 6.86 g/t Au from 130m, including 23m @ 9.31 g/t Au from 139m. This represents the best drill hole result in Buckreef Gold's history, extending the zone another 50 meters. The new mineralized shear zone, located approximately 250m east of the Buckreef Main Zone, shows similar geological characteristics to the main deposit which hosts 2M+ ounce Au Mineral Resource. The company is preparing for a geophysical survey campaign covering the Stamford Bridge trend line and surrounding areas to define high-priority targets for future drilling.
TRX Gold has announced its best drill result ever at the Buckreef Gold Project, with hole BMDD310 intersecting 35.5 metres at 5.48 g/t Au from 64m. The company also revealed the discovery of a new gold mineralization shear zone named the 'Stamford Bridge Zone', located approximately 200m east of the Buckreef Main Zone.
Key drill results from the Stamford Bridge Zone include: BMDD310 with 35.5m @ 5.48 g/t Au, BMDD312 with 17.2m @ 3.14 g/t Au, and BMGT001 with multiple significant intersections. The new zone shows similar geological characteristics to the Main Zone and potentially forms a 1-kilometer 'bridge' between the Buckreef Gold Main Zone and the Eastern Porphyry.
TRX Gold (TSX: TRX) (NYSE American: TRX) has announced the completion of a metallurgical variability study at the Buckreef Gold Project, confirming excellent gold recovery rates for sulphide ore processing. The study, focusing on the sulphide ore portion (approximately 90% of the Buckreef Main Zone's 2M+ ounce Au Measured and Indicated Mineral Resources), revealed:
1. Finer grind size leads to higher gold recovery, increasing from 81.2% to 92.5% as grind became finer.
2. Current operational performance aligns with test results, with recovery rates ranging from 79.9% to 87.0%.
3. Opportunities for increasing gold recovery in current operations through finer grinding initiatives.
4. Potential for low-cost, self-funded expansion opportunities and positive outlook for additional Mineral Resources development.
TRX Gold (TSX: TRX) (NYSE American: TRX) has announced the completion of its expanded processing plant at Buckreef Gold, now operational at 2,000 tonnes per day (tpd). The company also reported Q3 2024 results, highlighting:
1. Increased milling capacity: The expanded facility is achieving an average of 1,750 tpd, with a maximum of 1,873 tpd, a 116% increase over Q3 2024.
2. Improved gold production: Weekly gold production has increased to 616 ounces, a 60% increase from Q3 2024 levels.
3. Strong financial performance: Q3 2024 saw revenue of $10.1 million, gross profit of $4.4 million (43% margin), and Adjusted EBITDA of $3.9 million.
4. Positive cash flow: Year-to-date operating cash flow of $9.3 million.
The expansion project was completed on time and on budget at approximately $6.0 million.
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