TRX Gold Reports Third Quarter 2023 Results
TORONTO, July 17, 2023 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX: TNX) (NYSE American: TRX) (the “Company” or “TRX Gold”) today reported its results for the third quarter of 2023 (“Q3 2023”) for the three months ended May 31, 2023.
- TORONTO, July 17, 2023 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX: TNX) (NYSE American: TRX) (the “Company” or “TRX Gold”) today reported its results for the third quarter of 2023 (“Q3 2023”) for the three months ended May 31, 2023.
- Key highlights for Q3 2023 include:
1,000 tonne per day (“tpd”) mill running efficiently: In Q3 2023, Buckreef Gold poured 4,764 ounces of gold and sold 4,810 ounces of gold, resulting in positive operating cash flow for the Company of $3.2 million. - Year to date, Buckreef Gold poured and sold 15,794 and 16,068 ounces of gold respectively; both nine-month production records for the Company, resulting in positive operating cash flow of $14.6 million.
- Maintaining strong profit margins: In Q3 2023, Buckreef Gold recognized revenue of $9.3 million and cost of sales of $5.4 million, generating gross profit of $3.9 million, gross profit margin of 42% and Adjusted EBITDA1 of $3.3 million.