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 Corporation (NYSE American:TRX) announced a significant milestone at the Buckreef Gold Project, achieving over one million working hours without lost-time or recordable injury. This accomplishment reflects the company’s commitment to health and safety, with more than 100 employees working round-the-clock. The achievement, reached in 22 months, is attributed to rigorous safety policies and daily health meetings. CEO Stephen Mullowney emphasized that a safe workforce is vital for productivity. TRX Gold aims to maintain a safety-first culture while advancing their gold production plans.
TRX Gold Corporation has announced the declaration of commercial production for its 1,000+ tonne per day processing plant at the Buckreef Gold Mine, effective November 2022. The plant achieved steady state throughput of over 1,000 tpd and gold recoveries surpassing 90% since October 2022. In October, gold production exceeded budget, yielding 2,200 ounces (22% above plan), with recovery rates at 91.1%. The company aims to enhance efficiencies and throughput, while maintaining a strong focus on safety, having achieved this milestone without any lost time injuries.
TRX Gold Corporation (NYSE American: TRX) announces a major expansion of its Buckreef Gold project, ramping up mill capacity from 360 to over 1,000 tonnes per day. This expansion, completed in under a year at a cost of $4 million, is anticipated to produce between 15,000-20,000 ounces of gold annually. The company's low-cost, high-margin operations aim to generate positive cash flow for further exploration and development. CEO Stephen Mullowney praised the team’s efforts, highlighting the project's growth potential and its positive cash flow status.
TRX Gold Corporation has announced its preliminary Q4 2022 gold production results, achieving 3,619 ounces, exceeding its guidance of 750-800 ounces per month. For the full year, the company produced 8,874 ounces of gold and recorded sales of 8,598 ounces. The average gold price for Q4 was US$1,778 per ounce. Additionally, TRX Gold is advancing its 1,000+ tonne per day oxide mill expansion, with staged commissioning underway and full commissioning expected soon, which aims to enhance production capacity and efficiency.
TRX Gold Corporation (NYSE American: TRX) will participate in the H.C. Wainwright 24th Annual Global Investment Conference in NYC from September 12-14, 2022, and the Precious Metals Summit in Colorado from September 13-16, 2022. Management aims to meet investors to discuss progress on the Buckreef Gold oxide processing plant, sulphide development, and a 10,000-meter exploration drilling campaign.
Upcoming events details are available on their corporate website, with a resource base of 2,036,280 oz of gold from their Buckreef project.
TRX Gold Corporation (TSX:TNX) announced a pre-paid gold purchase agreement with OCIM Metals & Mining SA worth US$5 million. This financing includes an upfront tranche of $2.5 million and allows further funds to be drawn over 18 months. The proceeds will enable Buckreef Gold to acquire mining equipment and expedite exploration programs, enhancing productivity and reducing costs. The construction of a 1,000+ tonne per day processing plant is on schedule for completion in Q3 2022, with a capital cost of $4 million, remaining within budget.
TRX Gold Corporation has announced promising assay results from the northeast drilling at the Buckreef Gold Main Zone. The extension now measures 300 meters, with a total strike length of 2.0 km. Recent drilling highlights include intersections of 12.27 m at 1.90 g/t Au and 4.50 m at 1.96 g/t Au. The company is ramping up gold production and exploring new areas, including the South Pit. With a resource estimate of 2.0 million ounces of gold, TRX Gold aims to create shareholder value through its ongoing exploration program and upcoming processing plant expansion.
TRX Gold Corporation (TSX: TNX) (NYSE American: TRX) invites shareholders to a live investor conference call on July 27, 2022, from 3:00 PM to 4:00 PM ET. Participants can join via a provided web link. The call will include a Q&A session for interaction with TRX Gold's executive team.
The company is progressing its Buckreef Gold Project, which has a mineral resource of 2,036,280 oz of gold in the Measured and Indicated category. TRX Gold aims to enhance shareholder value through increased gold production and exploration activities in Tanzania.
TRX Gold Corporation (TSX:TNX, NYSE American:TRX) reported strong Q3 2022 results, achieving record production, sales, and net income. The company operated its 360 tpd processing plant at full capacity, producing 2,733 ounces of gold at a low cash cost of $508 per ounce. Highlights included a gross margin of 73%, operating cash flow of $2 million, and a 250-meter extension of the Buckreef Gold Main Zone. Additionally, construction on the expanded 1,000+ tpd processing plant is progressing well, with completion expected in Q3 2022.
TRX Gold Corporation has announced preliminary Q3 2022 results, reporting record gold production of 2,733 ounces and sales of 3,033 ounces. This performance surpasses the previous guidance of 750-800 ounces per month. The average gold price during this period was $1,912 per ounce. The company's processing plant is operating at full capacity, with a planned expansion to over 1,000 tpd on track for Q3 2022.
CEO Stephen Mullowney emphasized the strategic focus on organic growth and exploration, indicating ongoing potential at the Buckreef Gold Project.
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