TRX News & Events

Reports Q2 adjusted net income $11.66M vs. ($111K) last year. Reports record 7,453 ounces of gold and sold 7,314 ounces of gold in Q4 at a record average realized price of $4,655 per ounce. CEO Stephen Mullowney commented: "We yet again delivered a record quarter, with 7,453 ounces of gold poured and 7,314 ounces sold during Q2 2026. With an average realized price of $4,655 per ounce of gold, we generated outstanding financial results with revenue of $34.1M, gross profit of $21.1M - 61% margin - and adjusted EBITDA1 of $20.2M - 59% margin -. With a cash balance of $26.0M, undrawn revolving credit lines of over $12.0M, minimal debt and significant run rate adjusted EBITDA - Q2 2026: $20.2M -, we are well positioned to execute on our next plant expansion, which as detailed last week, will incorporate throughput rates for the new 3,500+ tons per day plant and existing, upgraded process plant, providing a significant upgrade in processing capacity versus the 3,000 tpd assumed in the PEA last year. Finally, given all these positive factors, we're reviewing the life-of-mine plan at Buckreef and intend to update the PEA study with an expanded scale. The updated PEA is expected to have vastly improved economics versus last year's PEA which had average annual production of 62,000 ounces over an 18+ year mine life. We look forward to what's ahead for TRX Gold."

In Q2, the company achieved record quarterly production of 7,453 ounces of gold, a 13% increase in production over Q1 and sold approximately 7,400 ounces of gold, also a record for the company. During Q2, the company also has benefited from a record average market price for gold of approximately $4,682 per ounce, a 21% increase over the company's Q1 average realized price per ounce of gold. Revenue is expected to be significantly higher in Q2 than in Q1. Stephen Mullowney, TRX Gold CEO commented: "We're very pleased with the positive trajectory and record gold production achieved at Buckreef Gold this quarter as the company continued to benefit from access to higher grade ore and improved mill recoveries following our recent process plant upgrades. The record production and leverage to record gold price levels enabled the company to continue to strengthen its working capital position in Q2 2026, while continuing to invest in the future growth and development of Buckreef Gold. We are now on a significant growth trajectory, and things are getting really exciting! We are anticipating growth in production and resources over time as we continue to execute our plant expansion, increase exploration and evaluate implementation of an optimized mine plan as a result of higher gold prices. We will now be undertaking these activities with a clean capital structure, well capitalized balance sheet and very low debt levels."