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.
Tanzanian Gold Corporation (NYSE American: TRX) reported its Q1 2022 results, highlighting significant operational advancements at the Buckreef Gold project. In December 2021, Buckreef achieved its first month of positive operating cash flow, producing 533 ounces of gold, aided by the commissioning of a new 360 tpd processing plant. The company plans to expand this plant to over 1,000 tpd by mid-2022, aiming for an annual production of 15,000 to 20,000 ounces. Exploration drilling has recommenced, with a focus on resource expansion and development of the sulphide project, which represents 90% of Buckreef’s resources.
Tanzanian Gold Corporation (NYSE American:TRX) announces its Annual General Meeting (AGM) will be held virtually on February 25, 2022, at 11:00 EDT, due to COVID-19 health restrictions. Shareholders will receive Meeting materials by February 4, 2022. The company also revealed concerns regarding its audited financial statements, mentioning a going concern emphasis. This is not a change to previous SEC filings. The Company is focused on advancing its Buckreef gold project, aiming for increased gold production and exploration efforts to bolster its resources.
Tanzanian Gold Corporation (NYSE American: TRX) will present at the John Tumazos Very Independent Research LLC December 2021 Virtual Conference on December 7, 2021, from 1:30 PM to 2:30 PM EST. CEO Stephen Mullowney, COO Andrew Cheatle, and CFO Michael Leonard will discuss company developments. The live webcast can be accessed on the company's website, with a replay available afterwards. Tanzanian Gold is focused on its Buckreef gold project in Tanzania, with a measured resource of 1.28 million ounces and plans for expanding production to 15,000-20,000 ounces of gold per year.
Tanzanian Gold Corporation (NYSE American: TRX) reported its Q4 and full year 2021 results, showcasing significant exploration potential with new gold-bearing shear zones discovered. The 360 tpd processing plant expansion, costing $1.6 million, aims to produce 750-800 ounces of gold monthly at a cash cost of $725-825 per ounce. The anticipated completion of a larger 1,000+ tpd operation is projected for Q2/Q3 2022, with potential annual production of 15,000-20,000 ounces. The company’s financial health improved with a cash position of $13.4 million and net working capital of $8 million as of August 31, 2021.
Tanzanian Gold Corporation (NYSE American: TRX) announced plans to expand its Buckreef Gold processing plant to over 1,000 tonnes per day, funded by existing cash resources. The project, estimated at US$4 million, aims to enhance cash flow and support exploration in the Buckreef Main Zone and Anfield Zone. The plant is expected to produce 15,000 – 20,000 ounces of gold annually. The expansion is anticipated to be completed by Q2/Q3 2022, leveraging successful in-house construction methodologies from a previous plant expansion.
The Tanzanian Gold Corporation (TRX) has announced the successful completion of a 360 tonnes per day (tpd) processing plant expansion at Buckreef Gold, aimed at increasing production to 750-800 ounces of gold per month. The project, completed on time and within a budget of $1.3-1.6 million, integrates the existing 120 tpd plant, which achieved a 90% gold recovery rate. Operating cash flow from the new plant is expected to improve financial performance, support exploration efforts, and facilitate a future 1,000+ tpd operation projected to yield 15,000-20,000 ounces annually.
Tanzanian Gold Corporation (NYSE American: TRX) announced its participation in the 2021 Gold Forum Americas from September 12-15, 2021, in Colorado Springs, CO. The company will update attendees on its Buckreef Project, focusing on oxide plant expansion and sulphide development. CEO Stephen Mullowney is set to present on September 14, 2021, at 09:50 MDT, with the presentation available on the company’s website. The Buckreef Project has a significant Mineral Resource of 2,036,280 ounces of gold. TanGold aims to increase annual production to 15,000 - 20,000 ounces from its expanded oxide plant.
Tanzanian Gold Corporation (NYSE American: TRX) announced a consistent achievement of 90% gold recovery at its Buckreef Gold oxide test plant. This marks an improvement over previous recovery rates, with enhanced grindability and retention times contributing to increased confidence in the oxide mine plan. The results, which were obtained from a thorough testing methodology involving multiple samples, underscore the company's focus on maximizing recovery rates, thereby boosting revenue per tonne and lowering costs per gold ounce.
Tanzanian Gold Corporation (NYSE American:TRX) announced participation in the Precious Metals Summit Beaver Creek from September 8-11, 2021. CEO Stephen Mullowney will present on September 9 at 16:15 MDT, providing updates on the oxide plant expansion and the Buckreef Project’s development. The summit connects institutional investors with senior precious metals executives. The Buckreef Project's mineral resources are significant, with measured and indicated resources totaling 2,036,280 ounces of gold. More information is available via the company's website.
Tanzanian Gold Corporation (TSX:TNX, NYSE American:TRX) reported its Q3 2021 results, highlighting a plan to upgrade its oxide test plant from 5 tph to 15 tph to mitigate cash flow issues. The upgrade is set for completion by September/October 2021 and aims to enhance cash flow for reinvestment in exploration and capital expenditures. The company discovered Buckreef West and Anfield Zone, increasing exploration potential. A preliminary metallurgical report supports the advancement of a final feasibility study on the sulphide project. Buckreef Gold reported zero safety incidents during the quarter.
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