Tanzanian Gold

TRX Gold delivered record Q3 results at the Buckreef project with production above 7,400 ounces, revenue near $33 million, a gross margin of about 60% and record adjusted EBITDA of almost $21 million. Management plans an approximately $50 million expansion over 12–18 months including a new 3,500 tpd SAG and ball mill, tailings storage work and sustaining capital, with most funding expected from cash flow and available credit lines. The company is ramping up exploration after new geophysical surveys generated multiple drill targets and is in advanced talks with the Tanzanian government on more favorable long-term operating terms. TRX Gold ended the quarter with nearly $27 million cash, over $36 million in working capital, and says reinvestment into Buckreef remains its priority over dividends or buybacks for now. » More on finance.yahoo.com

TRX Gold reported Q2 2026 EPS of $0.035 and revenue of $34.1 million, both well above expectations, along with record gold production (7,500 ounces in the quarter) and a record average gold price. Despite the strong results, the stock fell about 5.7% in premarket trading. The company reaffirmed its full-year guidance of 25,000–30,000 ounces and plans capacity expansions; however, investors remain concerned about cost management and geopolitical risks. » More on de.investing.com

TRX Gold plans a combination of a semi-autogenous grinding mill and a ball mill (SAG/ball mill) for the Buckreef gold project with more than 3,500 tonnes per day, based on metallurgical tests showing recoveries of 89–92% (PEA assumption: 88%). Tendering for the SAG mill is underway, award is planned for Q3 2026 and completion for Q2 2027; the existing 2,000 t/d plant will operate in parallel. Expansion capital costs are estimated at USD 45–50 million, about USD 10–15 million above the PEA estimate, and P&E Mining Consultants will update the PEA by Q4 2026. The higher processing capacity and current gold prices could raise average annual production above the originally forecast 62,000 ounces; the resource is 893,000 ounces in the measured and indicated categories. » More on de.investing.com