TRX Gold reports Q4 production up 37% to 6,404 ounces of gold

TRX Gold (TRX) announce preliminary results for Q4. In Q4 the Company achieved record production and sales of 6,404 and 6,977 ounces of gold respectively, a 37% increase in production over Q3. Benefited from an average market price for gold of approximately $3,350 per ounce in Q4 and $2,973 for FY025. Achieved two record gold pours, including 806 ounces at the end of August 2025 followed by another record gold pour of 1,018 ounces of gold in September 2025. Strong production continued into September 2025 with monthly production of 2,510 ounces of gold. The Company’s adjusted working capital ratio has turned positive, improving from approximately 0.8 on May 31, to approximately 1.2 on August 31. As of August 31 the Company’s cash balance was approximately $7.8M: an increase in net cash of approximately $1.2M from Q3. The Company also fully repaid its short-term borrowings of approximately $3.0M. The Company continued to invest in mine infrastructure and development, mill optimizations, tailings storage facility expansions, supplies inventory and run of mine, or ROM, stockpile inventory. The ROM stockpile has grown from approximately 9,275 ounces of contained gold at May 31, 2025, to an estimated 15,162 ounces of contained gold as at August 31. The Company is currently in the process of optimizing and expanding the processing plant in line with the robust Preliminary Economic Assessment, or PEA, filed in Q3. During Q4, the Company commenced the procurement process on several near-term plant enhancements to improve gold recoveries, including downpayments for the addition of a thickener, upgrades to the elution plant/gold room, and added slurry oxidation capacity through improved air blowers and oxygen dispersion. The Company is also performing ongoing analytical and metallurgical test work to finalize the addition of a flotation circuit as well as the addition of a Semi Autogenous Grind Mill and new crushing circuit as part of the longer-term plan to expand the plant to 3,000+ tonnes per day as outlined in the PEA.