TRX Gold(US:TRX)2025-01-14 22:00Revenue and Profitability - Revenue for the three months ended November 30, 2024, was $12,528,000, representing a 33.5% increase from $9,404,000 in the same period of 2023[6] - Gross profit for the same period was $4,834,000, up from $3,717,000, indicating a gross margin improvement[6] - Net income for the three months ended November 30, 2024, was $2,137,000, compared to a net loss of $39,000 in the prior year[6] - The Company reported a basic and diluted earnings per share of $0.00 for the three months ended November 30, 2024, compared to a loss per share of $(0.00) in the same period of 2023[6] - Net income attributable to shareholders for the three months ended November 30, 2024, was $0.981 million, compared to a net loss of $0.966 million in the same period of 2023[40] - The company reported a comprehensive income of $2.6 million for the three months ended November 30, 2024, compared to $2.1 million in 2023[51] Assets and Liabilities - Total assets increased to $102,632,000 as of November 30, 2024, from $98,860,000 at August 31, 2024, reflecting a growth of 3.0%[3] - Current liabilities decreased to $20,395,000 from $21,283,000, a reduction of 4.2%[3] - Non-current assets increased to $85.8 million as of November 30, 2024, compared to $81.1 million as of August 31, 2024[62] - The carrying value of Mineral Property, Plant and Equipment increased to $89.706 million as of November 30, 2024, from $84.344 million as of August 31, 2024, reflecting a 6.3% growth[25] - Total amounts receivable increased to $2.307 million as of November 30, 2024, from $1.958 million as of August 31, 2024, representing a 17.8% increase[21] - Total inventories rose to $6.534 million as of November 30, 2024, up from $6.249 million as of August 31, 2024, indicating a 4.6% increase[24] - Lease liabilities rose to $2.854 million as of November 30, 2024, compared to $1.343 million as of August 31, 2024, marking a 112.5% increase[34] Cash Flow and Expenses - Cash at the end of the period was $6,787,000, down from $8,331,000 at the beginning of the period, representing a decrease of 18.6%[11] - Cash provided by operating activities for the three months ended November 30, 2024, was $3.6 million, down from $6.1 million in 2023[51] - Total general and administrative expenses for the three months ended November 30, 2024, were $1.4 million, a decrease of 36% from $2.2 million in 2023[55] - Share-based compensation expense for the three months ended November 30, 2024, totaled $0.2 million, a decrease of 78% from $0.9 million in 2023[42] - Total non-cash items for the three months ended November 30, 2024, amounted to $1,547,000, down from $2,955,000 in 2023, a decrease of 47.7%[66] Investments and Expenditures - Exploration and evaluation expenditures for the period were $431,000, compared to $91,000 in the prior year, indicating increased investment in development[11] - The Company recovered $0.9 million in VAT refunds from the TRA during the three months ended November 30, 2024, compared to $nil in the same period of 2023[22] Shareholder Information - The company’s share capital increased to $166,313,000 as of November 30, 2024, from $165,945,000 at August 31, 2024[3] - Non-controlling interest increased to $12,292,000 from $11,136,000, reflecting a growth of 10.4%[3] - The weighted average number of common shares for basic EPS increased to 291,668,469 for the three months ended November 30, 2024, from 285,283,429 in the same period of 2023[40] - The company had 36.2 million warrants outstanding as of November 30, 2024, with a weighted average exercise price of $0.62[47] - As of November 30, 2024, the company had 10.5 million stock options and 36.2 million warrants that were anti-dilutive for the period[41] Taxation and Financial Instruments - The Company recorded an income tax expense of $1.7 million for the three months ended November 30, 2024, compared to $1.2 million in the same period of 2023[29] - Deferred income tax expense rose to $1,291,000 in 2024, up from $899,000 in 2023, marking an increase of 43.6%[66] - The change in fair value of derivative financial instruments showed a loss of $819,000 in 2024 compared to a loss of $199,000 in 2023, indicating a significant increase in losses[66] - Derivative warrant liabilities decreased to $1.454 million as of November 30, 2024, down from $2.273 million as of August 31, 2024, a reduction of 36.1%[36]