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) has appointed Michael P. Leonard as its Chief Financial Officer. Leonard, a CPA with over 17 years of experience at Barrick Gold, will enhance the company’s financial strategies and controls. His background in global investor relations is expected to strengthen market transparency and long-term planning. The company is focused on advancing its Buckreef gold project, which has a combined mineral resource of over 2 million ounces of gold. The strategic direction aims at increasing production and exploring new prospects.
Tanzanian Gold Corporation (TRX) announces favorable metallurgical test results from the sulphide component of the Buckreef Gold Mine. Conducted by SGS Canada, the tests include three diamond drill cores showing gold recovery rates of up to 95.4%. SGS is now tasked with further metallurgical variability testing. Initial results suggest a simple yet effective processing flow for high-grade ores. The Buckreef project's measured and indicated mineral resources total approximately 2.04 million ounces of gold, indicating significant potential for future production.
Tanzanian Gold Corporation (NYSE American: TRX) issued a clarification regarding exploration targets in a press release following a review by the British Columbia Securities Commission. The previous disclosure was replaced with updated figures for Northest Extension and Main Zone, highlighting potential tonnage and grade. The company holds a measured mineral resource of 19.98MT at 1.99g/t gold, totaling 1,281,161 ounces. Tanzanian Gold is advancing three value-creation tracks, including enhancing production and conducting a drilling program to explore mineral resources.
Tanzanian Gold Corporation (TSX:TNX, NYSE American:TRX) has closed a registered direct offering of 32,923,078 shares at US$0.65 each, alongside accompanying warrants for 16,461,539 shares at an exercise price of US$0.80. The total net proceeds, approximately USD$19.8 million, will fund the Buckreef Gold Project's development, exploration, and working capital. The offering complies with SEC regulations under effective shelf registration statements. The Buckreef Project boasts substantial mineral resources, with plans to increase annual gold production significantly.
On February 9, 2021, Tanzanian Gold Corporation (TRX) announced a registered direct offering of 32,923,078 common shares at $0.65 each, raising approximately $21.4 million. Concurrently, the company will issue warrants to purchase 16,461,539 additional shares at an exercise price of $0.80, expiring in five years. Proceeds will fund the Buckreef Gold Project development, including capital expenditures and exploration. The offering is expected to close around February 11, 2021, pending customary conditions. The company aims to enhance production and advance feasibility studies for expanded operations.
Tanzanian Gold Corporation (NYSE American:TRX) has appointed Andrew Cheatle as the new Chief Operating Officer. The company, in partnership with the State Mining Company (STAMICO), has received approval for an updated mine plan for the Buckreef Gold Project from Tanzania's Mining Commission. The Buckreef project boasts measured and indicated mineral resources of 35.88 million tonnes, containing over 2 million ounces of gold. The company aims to strengthen its financial position with increased production, advance feasibility studies for a larger processing plant, and continue drilling to assess further mineral resources.
Tanzanian Gold Corporation (TRX) has announced the resignation of Ulrich Rath from its Board of Directors, with Andrew Cheatle taking over his responsibilities, including leading the Technical Committee. The company continues to focus on its Buckreef gold project, which has seen a doubling of Measured and Indicated Mineral Resources to 2.04 million ounces of gold. Exploration may further increase resources by up to 2 million ounces. The company aims for near-term production of 15,000-20,000 ounces per year upon approval of an expanded plant and targets annual production of 150,000-175,000 ounces from a larger sulphide plant.
Tanzanian Gold Corporation (NYSE American:TRX) reported key 2020 accomplishments, including a doubling of Measured and Indicated Resources at the Buckreef Gold Project to 2.04 million ounces with an increased average grade of 1.77 grams per ton. The company progressed its Feasibility Study for a standalone sulphide processing plant and successfully operated a 5 tph test oxide plant. Additionally, TanGold discovered a new gold-bearing shear zone and submitted an updated mine plan to the Mining Commission in Tanzania. Leadership changes include appointing Stephen Mullowney as CEO.
Tanzanian Gold Corporation (TRX) announced an updated mine plan for the Buckreef Gold Project, submitted to the Mining Commission in Tanzania, in collaboration with its partner STAMICO. The revised plan accommodates artisanal mining and separates processing plants for metallurgical efficiency. The company will relinquish certain concessions with no impact on its 2.04 million oz Mineral Resources. Additionally, amendments to the joint venture agreement with STAMICO align with new Tanzanian mining laws. Progress on the Buckreef Feasibility Study continues, with ongoing metallurgical tests and exploration programs.
Tanzanian Gold Corporation (TRX) announced the sale of 5,545,325 common shares and warrants to purchase 2,772,637 common shares, raising a total of $2,993,390. The shares and warrants were sold at a price of $0.5398, with warrants allowing the purchase of shares at $1.50 each for three years. Proceeds will fund capital expenditures, exploration, and working capital. The transaction, expected to close around December 23, 2020, is subject to customary conditions, including acceptance by the NYSE American and Toronto Stock Exchange.
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