TRX Gold NYSEAMERICAN: TRX is advancing a self-funded expansion of its Buckreef Gold Project in Tanzania, with Chief Executive Officer Stephen Mullowney outlining plans to increase processing capacity and pursue additional exploration targets.
TRX Gold NYSEAMERICAN: TRX is advancing a fourth expansion at its Buckreef Gold Project in Tanzania, with Chief Financial Officer Michael Leonard saying the company expects to operate a combined 5,500-tonne-per-day milling configuration as it updates its mine plan and preliminary economic assessment.
TRX Gold NYSEAMERICAN: TRX is advancing an expansion of its Buckreef Gold Project in Tanzania, with Chief Executive Officer Stephen Mullowney saying the company expects the project's processing capacity to increase to 5,500 tonnes per day from 2,000 tonnes per day through the addition of a 3,500-tonne-per-day circuit.
TRX Gold offers medium- to long-term value, underpinned by operational efficiencies, resource upgrades, and ambitious expansion plans at its Buckreef mine. Recent investments have driven record revenues and margins, with FY25 gross margin nearly doubling to 59% and production on track for 25k-30k oz this year. Expansion to 60k+ oz/year hinges on mill upgrades, resource conversion, and $88M capex, with self-financing supported by strong cash flow and high gold prices.
TRX Gold is rated a speculative buy, driven by strong Q3 2026 results and clear leverage to high gold prices. TRX delivered record adjusted EBITDA, robust cash flow, and improved plant operations at Buckreef, validating its commercial viability. The Buckreef expansion is a major catalyst, with potential to significantly increase production, but execution and capex control remain key risks.
TRX Gold NYSEAMERICAN: TRX executives said the company delivered record third-quarter operating and financial results at its Buckreef Gold Project in Tanzania, while outlining plans to fund a major mill expansion, tailings storage work and exploration largely through internal cash flow.
TRX Gold (TRX) offers a compelling speculative buy after a 60% sell-off, despite strong production, high margins, and robust gold prices. TRX operates the Buckreef mine in Tanzania, generating 62% gross and 59% adjusted EBITDA margins, with expansion funded from internal cash flow. Upcoming catalysts include a Q4 2026 PEA update, expected to reflect higher plant capacity, improved recoveries, and potentially higher NPV.
TRX Gold is a high-risk, high-reward junior gold producer operating solely in Tanzania, with recent operational improvements and strong leverage to gold prices. My conditional Buy rating hinges on a 3-year horizon, gold prices above $3,000/oz, and investor risk tolerance for concentrated, country-specific exposure. Monte Carlo NAV simulation yields a median fair value of $0.69/share, well below the current $1.50, but positive skewness justifies upside potential for bullish gold investors.
TRX Gold Corporation offers high-margin gold production with a scalable growth trajectory, not solely reliant on gold price appreciation. I see ~$4.5k/oz as a defendable gold price floor, supporting durable EBITDA of ~$50m, with further upside optionality. Production ramp at Buckreef, funded by internal cash flows, targets a 50% increase in 2–3 years, with EBITDA potentially reaching $80–100m.
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TRX Gold Corporation (NYSE:TRX ) Q3 2025 Earnings Conference Call July 16, 2025 9:00 AM ET Company Participants Michael P. Leonard - Chief Financial Officer Richard Boffey - Chief Operating Officer Stephen Mullowney - CEO & Director Conference Call Participants Heiko Felix Ihle - H.C.
TRX Gold Corporation (NYSE:TRX ) Q2 2025 Earnings Conference Call April 23, 2025 9:00 AM ET Company Participants Stephen Mullowney - Chief Executive Officer Michael Leonard - Chief Financial Officer Richard Boffey - Chief Operating Officer Conference Call Participants Mike Niehuser - ROTH Capital Jake Sekelsky - Alliance Global Partners Stephen Reiser - Family Office Operator And welcome everyone to today's event, the TRX Gold Corporation Second Quarter 2025 Results Presentation. As a reminder, all participants today are in a listen-only mode and the meeting is being recorded.