TRX Gold Stock

TRX Gold Corporation engages in the exploration and development of gold properties, with a primary focus on exploring for and developing gold properties in the United Republic of Tanzania (Tanzania).

The company's primary asset is its interest in the Buckreef Gold Project, a joint venture that is 55% owned by one of the company's subsidiaries (TRX Gold Tanzania Limited) and 45% is owned by the State Mining Corporation (STAMICO), a Governmental agency of Tanzania.

The company is rapidly advancing the Buckreef Gold Project. The project hosts an NI 43-101 Measured and Indicated Mineral Resource (M&I Resource) of 35.88 million tonnes (MT) at 1.77 grams per tonne (g/t) gold containing 2,036,280 ounces (oz) of gold and an Inferred Mineral Resource of 17.8 MT at 1.11 g/t gold for 635,540 oz of gold.

The company's Buckreef Gold Project produced 20,759 ounces in the year ended August 31, 2023 (fiscal 2023), in line with full year production guidance, and sold approximately 20,864 ounces of gold. This compares to production of approximately 8,874 ounces of gold and sales of 8,598 ounces of gold in 2022. The increase in gold ounces produced and sold relative to the prior year comparative period was mainly due to an increase in plant throughput following commissioning of the expanded 1,000+ tpd processing plant in Q1 2023.

At Buckreef, the company expects 2024 gold production to be in the range of 25 - 30 thousand ounces. This reflects an expansion of the 1,000+ tpd processing plant to 2,000 tpd, which is scheduled for completion in fiscal Q3 2024 reflecting one quarter of increased gold production from the expanded plant.

Buckreef Gold Mine Project

The Buckreef Gold Project is a description of four gold prospects, which are namely Buckreef, Eastern Porphyry Tembo and Bingwa located in the Mnekezi Village in Geita District in north-central Tanzania. The project area is located 40km southwest of the town of Geita, which in turn is approximately 110km south-west of the second largest city Mwanza.

The Buckreef Gold Project is a gold exploration project comprises, a single Special Mining License covering an area of 16.04 square kilometres (km2) and 12 Prospecting Licenses covering 98.19km2. The Mineral Resources and Mineral Reserves for the Buckreef Gold project are declared over Special Mining License block SML04/1992. In Q3 2022, the Buckreef gold special mining license (SML04/92) which covers an area of 16.04km2, was successfully renewed for a further 5 years to 16th June 2032. The company anticipates the life of mine will extend significantly beyond 2032, and therefore the company will apply to renew the Special Mining Licenses (SML) prior to the renewal date, in accordance with the requirements under the Tanzanian Mining Act. The licenses are operated by Buckreef Gold Company Limited, a joint venture that is 55% owned by one of the company's subsidiaries (TRX Gold Tanzania Limited, a subsidiary company of TRX Gold Corporation) and 45% is owned by the State Mining Corporation (STAMICO), a Governmental agency of Tanzania.

The Buckreef Project is situated within the Lake Victoria Greenstone (LVG) belt of northern Tanzania which consists of several east-west trending, linear, Archaean greenstone belts. The Buckreef Project is in the regionally east-west trending Rwamagaza greenstone belt and this belt is considered a segment of the larger Sukumaland greenstone belt and is one of the larger greenstone belts in northern Tanzania. Buckreef Gold Company Limited has defined four mineral deposits on the Buckreef Property.

History

The company was incorporated in 1990. It was formerly known as Tan Range Exploration Corporation and changed its name to Tanzanian Royalty Exploration Corporation in 2006 and to Tanzanian Gold Corporation in 2019 and then to TRX Gold Corporation in May 2022.