TRX Gold(TRX) - 2026 Q1 - Earnings Call Presentation

Financial Performance & Production - TRX Gold achieved record quarterly gold production of 6,597 ounces and sales of 6,492 ounces in Q1 2026, a 35% increase over Q1 2025[13] - The company realized an average gold price of approximately $3,860/oz in Q1 2026, up from $2,653/oz in Q1 2025[13] - Q1 2026 revenue reached $25.1 million with an adjusted EBITDA of $13.2 million, demonstrating improved cash flow and margins[13, 18] - The company's cash balance increased to $9.2 million, up $1.4 million from Q4 2025[13] Operational Growth & Expansion - The company is on track to achieve its fiscal 2026 guidance of 25,000 – 30,000 ounces of gold at an average cash cost of $1,400 - $1,600/oz[13, 19] - The company is expanding its processing facility, featuring a 3,000+ tpd sulphide processing circuit and a 1,000 tpd oxide/transition circuit[14] - The company's ROM stockpile increased from 15,162 ounces at August 31, 2025, to 19,698 ounces as of November 30, 2025[13] Future Outlook & Exploration - The company anticipates capital expenditures of $15 – $20 million focused on plant upgrades and expansion[19] - The company plans exploration expenditures of $3 – $5 million, including resource drilling on the Main Zone and exploration drilling on Stamford Bridge and Eastern Porphyry[19, 53] - A robust 2025 PEA outlines an underground expansion with an average of approximately 62,000 oz Au per year over 17.6 years, and an after-tax NPV 5% of $1.2 billion at $4,000/oz Au[11, 30]