Company Performance - TRX Gold reported quarterly earnings of $0.01 per share, matching the Zacks Consensus Estimate, and the same as the previous year [1] - The company posted revenues of $13.62 million for the quarter ended August 2024, missing the Zacks Consensus Estimate by 17.44%, compared to $9.19 million in the same quarter last year [2] - Over the last four quarters, TRX Gold has not surpassed consensus EPS estimates and has topped revenue estimates only once [2] Stock Movement and Outlook - TRX Gold shares have declined approximately 7.3% since the beginning of the year, while the S&P 500 has gained 25.8% [4] - The company's earnings outlook is mixed, with current consensus EPS estimates of $0.02 on $19.5 million in revenues for the coming quarter and $0.07 on $70.65 million in revenues for the current fiscal year [8] - The Zacks Rank for TRX Gold is currently 3 (Hold), indicating expected performance in line with the market in the near future [7] Industry Context - The Mining - Gold industry, to which TRX Gold belongs, is currently ranked in the top 27% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [9] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact TRX Gold's stock performance [6]

TORONTO, Nov. 12, 2024 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX: TRX) (NYSE American: TRX) (the “Company” or “TRX Gold”) is excited to announce, once again, another best drill results ever, on a gram x tonne x meters (“gtm”) basis with hole BMDD315 intersecting 37 metres (“m”) @ 6.86 g/t Au (253.82 gtm) from 130 m. This drill hole result is approximately 250 m east of the Buckreef Main Zone—host to Buckreef Gold’s 2M+ ounce Au Mineral Resource1 and where current operations are ongoing in the Main Pit—a ...

TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX: TRX) (NYSE American: TRX) (the “Company” or “TRX Gold”) is excited to announce its best drill result ever, on a gram x tonne x meters (“gtm”) basis with hole BMDD310 intersecting 35.5 metres (“m”) @ 5.48 g/t Au (194.54 gtm) from 64 m. This drill hole result is approximately 200 m east of the Buckreef Main Zone, host to Buckreef Gold’s 2M+ ounce Au Mineral Resource1 and where current operations are ongoing in the Main Pit. The Company is a ...

TORONTO, Oct. 01, 2024 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX: TRX) (NYSE American: TRX) (the "Company" or "TRX Gold") is pleased to announce completion of the ongoing metallurgical variability study at the Buckreef Gold Project, with results confirming excellent gold recovery rates for the processing of sulphide ore. Metallurgical test work on the sulphide ore portion of the project, which encompasses approximately 90% of the Buckreef Main Zone's 2M+ ounce Au Measured and Indicated Mineral Resources ...

TRX Gold Corporation (NYSE:TRX) Q3 2024 Earnings Conference Call July 23, 2024 11:00 AM ET Company Participants Christina Lalli - VP, IR Stephen Mullowney - CEO & Director Mike Leonard - CFO Conference Call Participants Mike Niehuser - ROTH Capital Partners Craig Sutherland - Conceptual Solutions Stephen Reiser - Family Office Operator Everyone, we'll just pause for a moment as participants make their way in from the lobby. It's now my pleasure to introduce Christina Lalli, Vice President Investor Relations ...

About this content Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government. She earned a Bachelor of ...

TORONTO, July 15, 2024 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX:TRX) (NYSE:TRX) (the "Company" or "TRX Gold") is pleased to announce the completion of the expanded processing plant to 2,000 tonnes per day ("tpd"), and also reported its results for the third quarter of 2024 ("Q3 2024") for the three months ended May 31, 2024. Financial results are available on the Company's website at www.TRXgold.com. Project highlights include: Immediate and positive impact on milling capacity: The newly expanded 2,000 ...

[Financial Statements](index=2&type=section&id=Interim%20Condensed%20Consolidated%20Financial%20Statements) [Consolidated Statements of Financial Position (Balance Sheet)](index=2&type=section&id=Interim%20Condensed%20Consolidated%20Statements%20of%20Financial%20Position) The company's total assets grew to $92.6 million, driven by increased PP&E, while liabilities rose to $30.1 million Financial Position Summary | Financial Item | May 31, 2024 ($'000) | August 31, 2023 ($'000) | | :--- | :--- | :--- | | **Total Current Assets** | 16,775 | 17,193 | | **Mineral property, plant and equipment** | 72,504 | 64,059 | | **Total Assets** | **92,614** | **84,200** | | **Total Current Liabilities** | 21,823 | 17,810 | | **Total Liabilities** | **30,065** | **23,144** | | **Total Equity** | **62,549** | **61,056** | | **Total Equity and Liabilities** | **92,614** | **84,200** | - Mineral property, plant and equipment increased by **13.2%** to **$72.5 million** from $64.1 million at the end of the previous fiscal year[3](index=3&type=chunk) - Total liabilities rose by **30.0%**, driven by a **24.9%** increase in amounts payable and accrued liabilities and a **70.6%** increase in the deferred income tax liability[3](index=3&type=chunk) [Consolidated Statements of (Loss) Income (Income Statement)](index=3&type=section&id=Interim%20Condensed%20Consolidated%20Statements%20of%20%28Loss%29%20Income%20and%20Comprehensive%20%28Loss%29%20Income) Net income for the nine-month period fell sharply to $0.2 million due to lower revenue and derivative value changes Income Statement Summary | Metric | Nine months ended May 31, 2024 ($'000) | Nine months ended May 31, 2023 ($'000) | | :--- | :--- | :--- | | Revenue | 27,536 | 29,133 | | Gross Profit | 11,342 | 14,112 | | Change in fair value of derivatives | (925) | 1,670 | | Income before tax | 4,012 | 9,119 | | **Net (Loss) Income** | **226** | **4,736** | | **Basic and Diluted (Loss) Earnings Per Share** | **($0.01)** | **$0.00** | - For the three months ended May 31, 2024, the company reported a **net loss of $1.7 million**, a significant increase from the $0.4 million loss in the same period of 2023[6](index=6&type=chunk) [Consolidated Statements of Changes in Equity](index=4&type=section&id=Interim%20Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Equity) Total equity grew to $62.5 million, as an increase in non-controlling interest offset a net loss to shareholders - Shareholders' equity decreased from $53.9 million to **$52.6 million** during the nine-month period, mainly due to a **net loss of $2.5 million** attributable to shareholders[9](index=9&type=chunk) - Non-controlling interest increased significantly from $7.2 million to **$9.9 million**, contributing positively to total equity[9](index=9&type=chunk) [Consolidated Statements of Cash Flows](index=6&type=section&id=Interim%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow decreased to $9.3 million, while investing activities focused on PP&E purchases Cash Flow Summary | Cash Flow Activity ($'000) | Nine months ended May 31, 2024 | Nine months ended May 31, 2023 | | :--- | :--- | :--- | | Cash provided by operating activities | 9,282 | 14,580 | | Cash used in investing activities | (8,765) | (15,764) | | Cash used in financing activities | (480) | (86) | | **Net increase (decrease) in cash** | **37** | **(1,270)** | | **Cash at end of the period** | **7,666** | **7,206** | - Investment in mineral property, plant and equipment was the primary use of cash, totaling **$8.4 million** for the period, though this was a reduction from the $14.7 million invested in the same period last year[13](index=13&type=chunk) [Notes to the Financial Statements](index=7&type=section&id=Notes%20to%20the%20Interim%20Condensed%20Consolidated%20Financial%20Statements) [Company Overview and Operations](index=7&type=section&id=1.%20Nature%20of%20operations) The company is a dual-listed Canadian entity focused on mineral exploration, development, and production in Tanzania - The company's primary business is the exploration, development, and production of mineral properties in the **United Republic of Tanzania**[15](index=15&type=chunk)[17](index=17&type=chunk) - The company's shares are listed on the **TSX** in Canada and the **NYSE American** in the United States[16](index=16&type=chunk) [Inventories](index=10&type=section&id=6.%20Inventories) Total inventories increased to $6.5 million, driven primarily by a significant rise in the ore stockpile value Inventory Breakdown | Inventory Type ($'000) | May 31, 2024 | August 31, 2023 | | :--- | :--- | :--- | | Ore stockpile | 4,821 | 3,361 | | Gold in circuit | 807 | 689 | | Gold doré | 80 | 52 | | Supplies | 794 | 859 | | **Total inventories** | **6,502** | **4,961** | [Mineral Property, Plant and Equipment (PP&E)](index=10&type=section&id=7.%20Mineral%20property%2C%20plant%20and%20equipment) The net book value of PP&E grew to $72.5 million following additions of $10.3 million in the period - Total additions to PP&E amounted to **$10.3 million** for the nine months ended May 31, 2024[36](index=36&type=chunk) - The most significant investments were in the **processing plant and infrastructure ($6.1 million)** and **mineral properties ($3.8 million)**[36](index=36&type=chunk) [Financing and Derivative Instruments](index=10&type=section&id=8.%20Deferred%20revenue) The company drew $2.5 million in deferred revenue and saw derivative warrant liabilities rise to $4.2 million - Under a prepaid Gold Doré Purchase Agreement, the company drew down an additional **$2.5 million** in the nine months to May 31, 2024[38](index=38&type=chunk)[40](index=40&type=chunk) - Derivative warrant liabilities increased from $3.5 million to **$4.2 million**, with the change in fair value resulting in a **loss of $0.7 million** for the nine-month period[41](index=41&type=chunk)[42](index=42&type=chunk) - The company entered into gold zero-cost collar contracts for 3,000 ounces; as of May 31, 2024, all contracts were settled, with **realized losses of $0.2 million**[45](index=45&type=chunk)[46](index=46&type=chunk)[47](index=47&type=chunk) [Income Tax](index=12&type=section&id=10.%20Income%20tax) Total income tax expense was $3.8 million, with an effective current tax rate of 9% at its Tanzanian subsidiary Income Tax Expense Breakdown | Income Tax Expense ($'000) | Nine months ended May 31, 2024 | Nine months ended May 31, 2023 | | :--- | :--- | :--- | | Current income tax expense | 800 | 800 | | Deferred income tax expense | 3,000 | 3,600 | | **Total income tax expense** | **3,800** | **4,400** | - In Tanzania, the company can utilize tax losses against 70% of its taxable profit, resulting in an **effective current tax rate of 9%** at the Buckreef subsidiary until tax losses are fully used[48](index=48&type=chunk) [Share Capital and Equity Instruments](index=13&type=section&id=12.%20Share-based%20payments%20reserve) The company recorded $1.7 million in share-based compensation expense with 36.2 million warrants outstanding - Share-based compensation expense for the nine months ended May 31, 2024, was **$1.7 million**, down from $2.1 million in the prior year period[53](index=53&type=chunk) Outstanding Equity Instruments | Instrument | Number Outstanding (as of May 31, 2024) | | :--- | :--- | | Stock Options (CAD & USD) | 15,436,000 | | Restricted Share Units (RSUs) | 2,327,176 | | Warrants | 36,190,769 | - Approximately **2.8 million warrants** with an exercise price of $1.50 expired during the period[58](index=58&type=chunk) [Related Party Transactions](index=17&type=section&id=15.%20Related%20party%20transactions) Total remuneration for directors and key management personnel was $2.5 million for the nine-month period Key Management Compensation | Compensation Type ($'000) | Nine months ended May 31, 2024 | Nine months ended May 31, 2023 | | :--- | :--- | :--- | | Remuneration (Salaries, Fees) | 1,293 | 1,414 | | Share-based compensation expense | 1,173 | 1,682 | | **Total** | **2,466** | **3,096** | [Segment and Geographic Information](index=19&type=section&id=18.%20Segmented%20information) The company operates as a single segment in Tanzania with significant customer concentration and assets located there - The company operates as a **single operating segment**: mineral exploration and development in Tanzania[71](index=71&type=chunk) - For the nine months ended May 31, 2024, **one customer accounted for 92% of total revenue**, representing $25.4 million[72](index=72&type=chunk) - As of May 31, 2024, **$75.8 million (or 99.9%)** of the company's non-current assets were located in Tanzania[74](index=74&type=chunk)

The accompanying notes are an integral part of these interim condensed consolidated financial statements. Exhibit 99.1 TRX Gold Corporation Interim Condensed Consolidated Financial Statements (Unaudited) For the three and six months ended February 29, 2024 and February 28, 2023 TRX Gold Corporation Interim Condensed Consolidated Statements of Financial Position (Unaudited) (Expressed in Thousands of US Dollars) | | Note | | February 29, 2024 | | August 31, 2023 | | --- | --- | --- | --- | --- | --- | | Asse ...

TRX Gold Corporation (NYSE:TRX) Q1 2024 Results Conference Call January 18, 2024 11:00 AM ET Company Participants Christina Lalli - Vice President, Investor Relations Stephen Mullowney - Chief Executive Officer, Director Andrew Cheatle - Chief Operating Officer Mike Leonard - Chief Financial Officer Conference Call Participants Jake Sekelsky - Alliance Globe Partners Heiko Ihle - H.C. Wainwright Operator It's now my pleasure to introduce Christina Lalli, Vice President, Investor Relations with TRX Gold. Chr ...