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) and State Mining Company (STAMICO) have announced a new gold discovery at the Buckreef Gold project, named the Anfield Zone. The discovery includes three parallel gold-bearing structures spanning 2.9 km, located east of the Main Zone. Notable grab sample assays include 37.52 g/t, 28.55 g/t, and 14.42 g/t. Follow-up drilling is planned for 2021-2022. The new find aligns with existing resources, indicating potential for significant gold production from Buckreef Gold.
Tanzanian Gold Corporation (TSX:TNX, NYSE American:TRX) announced positive metallurgical test results for the sulphide component of the Buckreef Gold Mine. SGS Canada completed the initial study, confirming high gold recoveries: MC01 at 94.1%, MC02 at 95.4%, and MC03 at 85.3%. The metallurgical process is straightforward, involving primary grinding and cyanide leaching without detecting any preg-robbing or refractory issues. The gold resource stands at 2,036,280 ounces. The company aims to increase production and advance feasibility studies for a larger sulphide operation.
Tanzanian Gold Corporation has appointed Khalaf Rashid as Senior Vice President, Tanzania, and Managing Director of its subsidiary, Tanzam2000. Rashid brings significant experience in business and government in Tanzania, having previously held senior roles across various sectors. His expertise will aid in aligning operations with Tanzanian mining regulations and driving business growth, particularly at the Buckreef gold project. The company aims to enhance production and explore new investment opportunities, with current mineral resources estimated at over 2 million ounces of gold.
Tanzanian Gold Corporation (NYSE American: TRX) is advancing the Buckreef Gold Project in Tanzania, focusing on production expansion and exploration. The company is set to participate in a virtual fireside chat on May 13, 2021, hosted by Alliance Global Partners. The Buckreef Project now boasts a measured mineral resource of 19.98MT at 1.99g/t for 1,281,161 ounces of gold. The company aims to increase annual gold production to 15,000 - 20,000 ounces and is conducting extensive drilling to enhance its mineral resource base.
Tanzanian Gold Corporation (NYSE American: TRX) has announced promising results from its exploration program at the Buckreef West Shear Zone in Tanzania, revealing a 400-meter near vertical shear zone with open gold mineralization. Notable intercepts include 4.57m @ 6.4 g/t Au and 5.57m @ 4.95 g/t Au. Continued exploration aims to further assess both oxide and sulphide potential, with the goal of expanding gold resources. Current Measured and Indicated Mineral Resources total 35.88MT at 1.77 g/t gold, containing over 2 million ounces of gold.
Tanzanian Gold Corporation (NYSE American: TRX) has announced the retirement of founder James E. Sinclair as Executive Chairman, marking a significant transition in leadership while he continues as Chairman of the Board. Sinclair, known as 'Mr. Gold', is celebrated for his influential role in the gold market and the successful establishment of the Bulyanhulu Mine. The company is focused on advancing its Buckreef Project, which boasts a combined measured and indicated resource of over 2 million ounces of gold. Sinclair expressed confidence in the new management team as they pursue future growth.
Tanzanian Gold Corporation (NYSE American: TRX) reported significant advancements in its Q2 2021 results, highlighted by the successful raising of USD $24.4 million, enhancing liquidity and net working capital. The company operated its test oxide plant, producing 285.9 ounces of gold, while targeting future production of 15,000 - 20,000 ounces annually. Positive metallurgical test results were announced, and exploration efforts continued to yield promising results at the Buckreef Project. Key management appointments were made to strengthen operations and financial strategies.
Tanzanian Gold Corporation (NYSE American:TRX) expresses deep condolences following the loss of H.E. President John P. Magufuli of Tanzania. Recognized globally for his visionary leadership and high ethical standards, President Magufuli was instrumental in reforming government and business practices in Tanzania. Stephen Mullowney, CEO, emphasized the personal impact of this loss, especially near their joint-venture site at the Buckreef Gold Project. The company's leadership reflects on his legacy, highlighting his commitment to the people and the country.
Tanzanian Gold Corporation (NYSE American: TRX) has appointed Shubo Rakhit, CPA, CA, to its Board of Directors. Rakhit brings over 30 years of corporate finance experience, having managed over $80 billion in M&A transactions and $100 billion in global capital markets issuance. His expertise is expected to enhance the company’s access to capital during significant growth phases. The Buckreef Project is on track with a mineral resource of approximately 2.036 million ounces of gold, underlining the company's proactive steps in gold production expansion and feasibility studies.
Tanzanian Gold Corporation (TSX:TNX, NYSE American:TRX) announced management changes at Buckreef Gold Company Ltd., appointing Isaac Bisansaba and Gaston Mujwahuzi as Co-Acting General Managers. Their combined experience of over 36 years in the gold mining industry will focus on enhancing mining and processing operations. The company is also updating its board to align with new management goals. The Buckreef Project features significant mineral resources, including a combined total of 2,036,280 ounces of gold. The company aims to strengthen its balance sheet through increased production and feasibility studies.
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