TRX Gold Corporation engages in the exploration, development, and production of mineral property in Tanzania. Its flagship project is the Buckreef Gold Project in Tanzania. The company was formerly known as Tanzanian Gold Corporation and changed its name to TRX Gold Corporation in May 2022. The company was incorporated in 1990 and is based in Oakville, Canada.
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TRX Gold Corporation
Sector
Precious Metal
Founded
February 28, 2003
Employees
241
Reporting Currency
USD
Contact Phone
437 224 5241
Website
www.trxgold.comHeadquarters Address
277 Lakeshore Road East , Oakville , ON L6J 6J3 , CA
Identifiers
ISIN
CA87283P1099Interactive chart powered by TradingView. Use the chart tools to analyze price trends.
TRX Gold is expanding Buckreef plant capacity from 2,000 to 5,500 tonnes per day, funded from operating cash flow rather than dilutive equity raises. Recovery rates improved from the mid-70s to mid-80s percent, driving consecutive quarterly production records even before the new mill arrives. An updated PEA (Preliminary Economic Assessment — a mid-stage economics study) is due in Q4 2026 with higher throughput and a longer open pit. Exploration is ramping to four or five drill rigs across ten geophysics targets, with Stamford Bridge already yielding the best intercept in Buckreef history. The CEO says execution, not marketing, will close the valuation gap, while Tanzania's 55/45 government joint venture framework remains the slow-moving overhang.
TRX Gold is expanding Buckreef from 2,000 to 5,500 tonnes per day using operating cash flow, targeting growth without shareholder dilution. The CEO cites roughly 30,000 ounces produced last year, $120 million run-rate revenue, and $80 million run-rate adjusted EBITDA. An updated economic study is due within about a quarter, with throughput and EBITDA expected well above the May 2025 study. Stamford Bridge drilling delivered the project's best intercepts, over 200 gram-tonne-metres, pointing to higher-grade ounces that could lower costs. Tanzania hosts major gold mines from AngloGold Ashanti, Perseus and Barrick, supplying experienced workers while TRX discusses a framework agreement with the government.
The CEO outlines a plan to triple output at Buckreef Gold from roughly 30,000 oz/year to a targeted 80,000–100,000 oz/year via a new 3,500-tonne-per-day circuit. The roughly $50M expansion is self-funded from current ~$20M quarterly adjusted EBITDA, $27M cash, and limited debt — no shareholder dilution is planned. Buckreef sits on a 1.5M oz resource at about 2.5 g/t; a four-rig drill campaign will convert ounces and test nine high-priority exploration targets. The CEO cites persistent government deficits, central-bank buying, geopolitical risk, and sticky inflation as durable structural supports for gold prices.
TRX Gold CEO Stephen Mullowney says Buckreef can grow from roughly 30,000 ounces of gold a year to more than 80,000, with EBITDA rising from an ~$80 million run rate to over $200 million within three to four years — all funded from operating cash flow. An updated PEA and new drill results due around end-2026 are the catalysts to watch.
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