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TRX Gold Reports First Quarter 2024 Results

Retrieved on: 
Monday, January 15, 2024

TORONTO, Jan. 15, 2024 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX: TNX) (NYSE American: TRX) (the “Company” or “TRX Gold”) today reported its results for the first quarter of 2024 (“Q1 2024”) for the three months ended November 30, 2023.

Key Points: 
  • TORONTO, Jan. 15, 2024 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX: TNX) (NYSE American: TRX) (the “Company” or “TRX Gold”) today reported its results for the first quarter of 2024 (“Q1 2024”) for the three months ended November 30, 2023.
  • Key highlights for Q1 2024 include:
    Positive operating cash flow: The Company poured 4,927 ounces of gold and sold 4,895 ounces of gold, resulting in positive operating cash flow of $5.1 million.
  • Fiscal 2024 production guidance unchanged: The Company continues to expect gold production for 2024 to be between 25,000 – 30,000 ounces at total average cash cost1 of $800 – 900 per ounce.
  • TRX Gold’s CEO, Stephen Mullowney comments: “Q1 2024 has been an exceptionally busy quarter at Buckreef Gold as our team continues to work hard on our next growth phase, including another expansion in processing capacity at the mill.

TRX Gold Reports Year-End 2023 Results

Retrieved on: 
Thursday, November 30, 2023

TORONTO, Nov. 30, 2023 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX:TNX) (NYSE American:TRX) (the “Company” or “TRX Gold”) today reported its results for the year end August 31, 2023 and fourth quarter (“Q4 2023”).

Key Points: 
  • TORONTO, Nov. 30, 2023 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX:TNX) (NYSE American:TRX) (the “Company” or “TRX Gold”) today reported its results for the year end August 31, 2023 and fourth quarter (“Q4 2023”).
  • TRX Gold’s CEO, Stephen Mullowney comments: “2023 was an important year for TRX Gold as it was a year that we transitioned into growth mode.
  • On the production side, Buckreef Gold poured 20,759 ounces of gold, in line with full year production guidance, and sold 20,864 ounces of gold.
  • Buckreef Gold poured 4,965 ounces of gold and sold 4,796 ounces of gold, resulting in positive operating cash flow for the Company of $2.7 million.

Emerita announces 14.07 MT Indicated Resource grading 3.29% Zn, 1.66% Pb, 0.46% Cu, 75.2 g/t Ag and 1.39 g/t Au (7.63% ZnEq) and 4.71 MT Inferred Resource at 4.70% Zn, 2.14% Pb, 0.54% Cu, 72.4% Ag, 0.90 g/t Au (9.29% ZnEq). Deposits remain open and drilli

Retrieved on: 
Tuesday, May 23, 2023

Input drillhole data was restricted to surface diamond drilling completed by Emerita from 2022 to 2023.

Key Points: 
  • Input drillhole data was restricted to surface diamond drilling completed by Emerita from 2022 to 2023.
  • Inverse Distance Squared (IDW2) was carried out in the La Infanta South 1 domain, where the number of composites was insufficient for effective variogram modelling.
  • The South Block sits approximately 15.0m in the hanging wall above the South Block 1 in a structurally controlled system.
  • The North Block sits approximately 30.0m in the hanging wall above the South Block in a structural controlled system.

TRX Gold’s Near Surface Drill Results: 14 m @ 3.5 g/t incl. 3.0 m @ 10.9 g/t Gold

Retrieved on: 
Monday, May 15, 2023

The grades we are seeing are precisely what we had hoped for and are in line with our geologists' expectations.

Key Points: 
  • The grades we are seeing are precisely what we had hoped for and are in line with our geologists' expectations.
  • These two zones represent a great exploration opportunity for the Buckreef Gold property as we continue to test the three-kilometer trend of demonstrated gold potential.
  • These results demonstrate the potential for continued resource expansion and a new mining area on the Buckreef Gold property.”, commented Stephen Mullowney, TRX Gold Chief Executive Officer.
  • The drilling program for the Eastern Porphyry and Anfield zones is currently paused and will resume in the near future.

TRX Gold Advances Larger Mine Development at Buckreef Gold

Retrieved on: 
Tuesday, April 11, 2023

TORONTO, April 11, 2023 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX: TNX) (NYSE American: TRX) (the “Company” or “TRX Gold”) is pleased to provide an update on the advancement of the larger Buckreef Gold mine development project, in which ongoing work on a number of different fronts will allow the Company to grow the currently producing Buckreef Gold Mine to a significant operation.

Key Points: 
  • TORONTO, April 11, 2023 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX: TNX) (NYSE American: TRX) (the “Company” or “TRX Gold”) is pleased to provide an update on the advancement of the larger Buckreef Gold mine development project, in which ongoing work on a number of different fronts will allow the Company to grow the currently producing Buckreef Gold Mine to a significant operation.
  • Results from these studies will inform the Buckreef team in the mid- to long-term, which processing flowsheet is the most efficient, effective and profitable for the larger project.
  • The Buckreef Gold Mine has been operating since late 2021 and in the last 12 months, has undergone two successful mill expansions.
  • In the long-term, the Buckreef Mine Development Project described above is aimed at growing the Buckreef Gold mining operation to a significant gold producer in the Tanzanian landscape.

TRX Gold Reports First Quarter 2023 Results

Retrieved on: 
Monday, January 16, 2023

TORONTO, Jan. 16, 2023 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX:TNX) (NYSE American:TRX) (the “Company” or “TRX Gold”) today reported its results for the first quarter of 2023 (“Q1 2023”) for the three months ended November 30, 2022.

Key Points: 
  • TORONTO, Jan. 16, 2023 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX:TNX) (NYSE American:TRX) (the “Company” or “TRX Gold”) today reported its results for the first quarter of 2023 (“Q1 2023”) for the three months ended November 30, 2022.
  • Production keeps growing: Buckreef Gold poured 5,395 ounces of gold and sold 5,754 ounces of gold, both quarterly records for the Company.
  • Strong results contribute to a strong balance sheet: TRX Gold recorded revenue of $9.7 million in Q1 2023 and cost of sales of $4.4 million, generating gross profit of $5.3 million and a gross profit margin of 55%.
  • Subsequent to Q1 2023, TRX Gold announced progress towards a larger project by way of positive assay results from its 19-hole metallurgical variability sampling program on the Buckreef Gold Main Zone.

TRX Gold Extends Gold Mineralization of the Buckreef Main Zone to the Southwest

Retrieved on: 
Monday, January 9, 2023

TORONTO, Jan. 09, 2023 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX: TNX) (NYSE American: TRX) (the “Company” or “TRX Gold”) is pleased to announce positive assay results from its exploration program which has provided another extension of known mineralization on the Buckreef Gold Main Zone (“Main Zone”) trend of approximately 200 m to the southwest and deeper under the historical South Pit.

Key Points: 
  • TORONTO, Jan. 09, 2023 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX: TNX) (NYSE American: TRX) (the “Company” or “TRX Gold”) is pleased to announce positive assay results from its exploration program which has provided another extension of known mineralization on the Buckreef Gold Main Zone (“Main Zone”) trend of approximately 200 m to the southwest and deeper under the historical South Pit.
  • The results are positive and significant for the Company as they continue to demonstrate: (i) continuity of gold mineralization along strike to the southwest of the Main Zone deposit; and (ii) continued gold mineralization under the (historical) South Pit.
  • The Company’s exploration program will continue to focus on discovering new trends, gold deposits and mineral resources at Buckreef Gold throughout 2023.
  • After extending known gold mineralization to the northeast on the Main Zone, we wanted to explore to the southwest and go beyond the defined mineral resource,” noted Stephen Mullowney, Chief Executive Officer of TRX Gold.

TRX Gold Releases Positive Metallurgical Drill Hole Assay Results

Retrieved on: 
Monday, December 12, 2022

The 18 metallurgical holes reported (of 19 drilled) from Buckreef Gold are designed to intersect gold mineralization between current oxide ore mining and the deeper preliminary metallurgical drill holes in the sulphide deposit reported in 2021 (see Press Release dated June 9, 2021).

Key Points: 
  • The 18 metallurgical holes reported (of 19 drilled) from Buckreef Gold are designed to intersect gold mineralization between current oxide ore mining and the deeper preliminary metallurgical drill holes in the sulphide deposit reported in 2021 (see Press Release dated June 9, 2021).
  • The metallurgical drill hole intersections reported here are down-hole length and may not represent true width.
  • The leadership team is focused on creating both near-term and long-term shareholder value by increasing gold production to generate positive cash flow.
  • The positive cash flow will be utilized for exploratory drilling with the goal of increasing the current gold Resource base and advancing the Sulphide Ore Project which represents 90% of current gold Resources.

TRX Gold Reports Fourth Quarter and Year-End 2022 Results

Retrieved on: 
Wednesday, November 30, 2022

TORONTO, Nov. 30, 2022 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX:TNX) (NYSE American:TRX) (the Company or TRX Gold) today reported its results for the fourth quarter (Q4 2022) and year end August 31, 2022.

Key Points: 
  • TORONTO, Nov. 30, 2022 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX:TNX) (NYSE American:TRX) (the Company or TRX Gold) today reported its results for the fourth quarter (Q4 2022) and year end August 31, 2022.
  • Full year and Q4 gold production that exceeded expectations and guidance: For the year ended August 31, 2022, Buckreef Gold poured 8,874 ounces of gold and sold 8,598 ounces of gold.
  • For Q4 2022, Buckreef Gold poured 3,619 ounces of gold, a new quarterly production record, exceeding previous production guidance of 750-800 ounces of gold per month.
  • TRX Golds CEO, Stephen Mullowney comments: 2022 has been an outstanding year for TRX Gold and Buckreef Gold.

TRX Gold Declares Commercial Production of 1,000+ TPD Processing Plant

Retrieved on: 
Tuesday, November 15, 2022

TORONTO, Nov. 15, 2022 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX:TNX) (NYSE American:TRX) (the Company or TRX Gold) is pleased to report the declaration of commercial production of the 1,000+ tonne per day (tpd) processing plant at the Buckreef Gold Mine (Buckreef Gold), effective November 2022.

Key Points: 
  • TORONTO, Nov. 15, 2022 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX:TNX) (NYSE American:TRX) (the Company or TRX Gold) is pleased to report the declaration of commercial production of the 1,000+ tonne per day (tpd) processing plant at the Buckreef Gold Mine (Buckreef Gold), effective November 2022.
  • The declaration of commercial production for the 1,000+ tpd processing plant at Buckreef Gold in Tanzania is made after successful construction, commissioning and ramp-up of processing to a steady state throughput of 1,000+ tpd.
  • The processing plant has now been running consistently at or above nameplate capacity since October 2022 with gold recoveries exceeding 90%.
  • TRX Gold and Buckreef Gold are currently evaluating a potential further near-term expansion of the processing plant.