Project Overview - Buckreef Gold Project is expanding in Tanzania, featuring a low-risk, high-margin open-pit gold mining operation[11] - The project has a multi-million ounce gold resource within a 16 km2 license area[11] - A 2025 PEA outlines an underground expansion with average annual production of approximately 62,000 oz Au over 17.6 years[11] - The PEA projects an NPV 5% of US$1,181 million pre-tax and US$766 million after-tax at a gold price of US$3,000/oz[11] Financial Performance and Growth - F2024 annual production reached 19,389 oz Au, with revenue of $41.2 million and adjusted EBITDA of $15.3 million[10] - Q2 2025 revenue was $9.1 million, a 14% year-over-year increase, and operating cash flow was $2.0 million, a 100% year-over-year increase[28] - The company completed a mill expansion to 2,000 tpd, supporting increased future annual production[21] Resource Estimate and Exploration - The 2025 Mineral Resource estimate includes 893,000 oz of gold in Measured & Indicated Resources and 726,000 oz in Inferred Resources[19] - Ongoing drilling of high-priority gold zones aims to increase the mineral resource[16] - The discovery of the new Stamford Bridge Shear Zone shows geology similar to Buckreef Main[55] - Best drill results ever include BMDD315 intersecting 37 m @ 6.86 g/t Au (253.82 gtm) from 130 m and BMDD310 intersecting 35.5 m @ 5.48 g/t Au (194.54 gtm) from 64 m[59] PEA Key Metrics - The PEA projects average annual gold production of 61,700 ounces[44] - LOM average cash costs are estimated at $1,017 US$/oz, and AISC at $1,199 US$/oz[44] - Growth capital over the first 4 years is projected at $88.7 million[44]
TRX Gold(TRX) - 2025 Q2 - Earnings Call Presentation