TRX Gold posts record production and $11.66m profit as it plans Tanzania expansion

TRX Gold Corporation has reported a substantial improvement in its financial performance for the second quarter, posting an adjusted net income of $11.66 million. This result marks a decisive turnaround from the previous year’s period, which saw a loss of approximately $111,000. The company’s operational metrics also reached new highs, with record quarterly gold production of 7,453 ounces.

The Toronto-based junior miner sold 7,314 ounces of gold during the quarter at an average realised price of $4,655 per ounce. This volume contributed to total revenue of $34.1 million. Profitability metrics were equally strong, with gross profit reaching $21.1 million, representing a 61% margin, while adjusted EBITDA came in at $20.2 million, or a 59% margin.

Chief Executive Officer Stephen Mullowney highlighted the company’s strengthened balance sheet as a key enabler for future growth. Management cited a strong cash position, limited debt, and expanding processing capacity as factors that position the firm favourably for the next phase of expansion. The company also noted a short percentage of shares outstanding of 0.68%.

Looking ahead, TRX Gold outlined plans to update the preliminary economic assessment for its Buckreef Gold Project in Tanzania. The update is intended to reflect higher throughput rates and potentially improved long-term mine economics. Founded in 1990, the company focuses on the exploration, development, and production of gold assets, with the Buckreef project serving as its primary asset.

The release of these results comes against a backdrop of broader market activity, including US stock market gains following a summit between President Donald Trump and Chinese President Xi Jinping in Beijing. Additionally, NVIDIA shares surged more than 2% after the US approved H200 chip sales to Chinese firms, reflecting continued volatility and interest in global trade and technology sectors.