TRX Gold(US:TRX)2025-07-14 22:30Revenue and Income - Revenue for the three months ended May 31, 2025, was $12,474,000, representing a 23% increase from $10,148,000 in the same period of 2024[5] - Net income for the three months ended May 31, 2025, was $1,105,000, compared to a net loss of $1,656,000 in the same period of 2024[5] - For the nine months ended May 31, 2025, the company reported a net income of $1,301 million, a significant increase from $226 million in the same period of 2024[11] - Comprehensive income for the period increased to $2.940 million for the three months ended May 31, 2025, compared to $2.184 million in 2024, reflecting a 34.7% growth[52] - For the nine months ended May 31, 2025, the net loss attributable to shareholders was $(2.525) million, compared to $(1.758) million for the same period in 2024[43] Assets and Liabilities - Total current assets increased to $21,740,000 as of May 31, 2025, compared to $17,784,000 a year earlier, reflecting a 22% growth[3] - Total assets rose to $112,312,000, up from $98,860,000, marking a 13% increase year-over-year[3] - Current liabilities increased to $28,107,000 from $21,283,000, a rise of 32%[3] - Total liabilities increased to $23.220 million as of May 31, 2025, compared to $15.545 million as of August 31, 2024, reflecting a 49.2% rise[59] - Non-current assets increased to $90.572 million as of May 31, 2025, from $81.076 million as of August 31, 2024, representing an increase of 11.8%[65] Cash Flow and Investments - Cash provided by operating activities decreased to $7,824 million from $9,282 million year-over-year[11] - Cash provided by operating activities for the nine months ended May 31, 2025, was $12.055 million, down from $13.178 million in 2024, indicating a decrease of 8.5%[52] - Cash used in investing activities increased to $10,953 million for the nine months ended May 31, 2025, compared to $8,765 million in the same period of 2024[11] - Cash used in investing activities for the nine months ended May 31, 2025, was $10.917 million, compared to $8.760 million in 2024, indicating an increase of 24.6%[52] - The company’s cash and cash equivalents at the end of the period were $3,555 million, down from $7,666 million at the end of the previous fiscal year[11] Shareholder Equity and Capital - Share capital increased to $167,086,000 as of May 31, 2025, from $165,945,000, reflecting ongoing investment in the company[3] - The total equity attributable to shareholders was $54,770,000, slightly down from $54,903,000 a year earlier[3] - Non-controlling interest increased to $14,195,000 from $11,136,000, indicating growth in minority interests[3] - Share-based compensation expense for the nine months ended May 31, 2025, totaled $2.0 million, up from $1.7 million in 2024[45] - Share-based compensation expense for the nine months ended May 31, 2025, was $2.027 million, compared to $1.705 million in 2024, marking an increase of 18.9%[68] Inventory and Receivables - Total inventories increased to $11,833 million as of May 31, 2025, compared to $6,249 million as of August 31, 2024, reflecting a rise in ore stockpile and precious metals inventories[22] - The company’s total amounts receivable increased to $2,691 million as of May 31, 2025, from $1,958 million as of August 31, 2024[19] Expenses - Total general and administrative expenses for the three months ended May 31, 2025, were $1.737 million, up 25.6% from $1.383 million in 2024[56] - The company reported a depreciation expense of $2.349 million for the nine months ended May 31, 2025, compared to $1.493 million in 2024, an increase of 57.4%[68] - The total depreciation expense for right-of-use assets for the nine months ended May 31, 2025, was $614,000, compared to $43,000 for the same period in 2024[33] Debt and Financing - Buckreef entered into a secured debt facility totaling $9.0 million with Stanbic Bank Tanzania Limited, comprising a $5.0 million overdraft facility and a $4.0 million vehicle and asset financing facility[34] - As of May 31, 2025, $3.0 million was drawn on the overdraft facility, while no amount was drawn on the vehicle and asset financing facility[36] - The company had total undiscounted lease commitments of $3.558 million as of May 31, 2025, with $1.131 million due within one year[33] Derivative and Contracts - Derivative warrant liabilities decreased from $2.273 million as of August 31, 2024, to $812,000 as of May 31, 2025, reflecting a change in fair value of $(1.461) million[38] - The company entered into gold zero-cost collar contracts for 600 gold ounces per month, totaling 3,000 gold ounces, with a maximum price of $2,150 and a minimum price of $1,850 per ounce[41] Stock Options - The balance of stock options as of May 31, 2025, was 10.5 million, with a weighted average exercise price of $0.45[48]