Northwire Canada EditionMonday, August 17, 2026
Sign inSubscribe
Northwire
⌕
ERD 6.16 −1.4% NFG 2.37 +2.2% CLM 0.060 +0.0% GEMG 1.64 +0.0% STGO 1.56 +2.6% WEX 0.580 −3.3% NOBL 0.120 +9.1% LGO 1.00 −3.9% SSE 0.095 +0.0% AAZ 0.040 +0.0% MNRG 0.095 +11.8% RME 0.260 +30.0% NUAG 9.48 +1.3% KRN 0.300 +11.1% EON 0.020 −nan% EMO 0.420 −1.2% ERD 6.16 −1.4% NFG 2.37 +2.2% CLM 0.060 +0.0% GEMG 1.64 +0.0% STGO 1.56 +2.6% WEX 0.580 −3.3% NOBL 0.120 +9.1% LGO 1.00 −3.9% SSE 0.095 +0.0% AAZ 0.040 +0.0% MNRG 0.095 +11.8% RME 0.260 +30.0% NUAG 9.48 +1.3% KRN 0.300 +11.1% EON 0.020 −nan% EMO 0.420 −1.2%
Earnings

TRX Gold produces 6,404 oz Au, sells 6,977 oz Au in Q4

By The Northwire Desk — AI Analysis Oct 08, 2025 · 15:19 TRX · 0.87 TRX Gold Corporation
TRX · Price

Executive Summary

  • Record Q4 2025 gold production (6,404 oz) and sales (6,977 oz), a 37 % increase versus Q3 2025.
  • Average realized gold price reached $3,350/oz in Q4 2025, driving strong cash generation and a positive adjusted working‑capital ratio of ~1.2.
  • Initiated multiple plant‑expansion projects (thickener, elution upgrades, slurry oxidation, flotation circuit, SAG mill) to increase recoveries and scale capacity toward >3,000 t/d as outlined in the PEA.

Key Details

  • Production & Sales: 6,404 oz produced; 6,977 oz sold in Q4 2025 (↑37 % vs. Q3).
  • Gold Price Realization: $3,350/oz average market price in Q4 2025; $2,973/oz for FY 2025.
  • Record Gold Pours: 806 oz (Aug 2025) and 1,018 oz (Sept 2025); September monthly production of 2,510 oz.
  • Working Capital: Adjusted working‑capital ratio improved from ~0.8 (May 31 2025) to ~1.2 (Aug 31 2025).
  • Cash Position: Cash balance ≈ $7.8 M as of Aug 31 2025, up ~$1.2 M YoY; fully repaid short‑term borrowings of ≈ $3 M.
  • ROM Stockpile: Increased from ~9,275 oz (May 31) to ~15,162 oz (Aug 31).
  • Plant Expansion Initiatives (Q4 2025):
  • Down‑payment for thickener installation to improve gold concentration.
  • Upgrades to elution plant/gold room targeting higher carbon activity and reduced solution losses.
  • Added slurry oxidation capacity via upgraded air blowers/oxygen dispersion.
  • Ongoing metallurgical testing for flotation circuit addition.
  • Planning semi‑autogenous grind (SAG) mill, new crushing circuit, jaw crusher, conveyor, and additional CIL tanks as part of long‑term expansion to >3,000 t/d per PEA.
  • Future Disclosure: Full audited financial statements and MD&A slated for late November 2025; current figures are preliminary and unaudited.

Notable Quotes

“We’re very pleased with the positive trajectory and record gold production achieved at Buckreef Gold this quarter… our short‑to‑medium‑term priorities remain the same – continue to expand and upgrade processing capacity in line with our PEA, continue advancing exploration in key areas, and strengthen our liquidity.” – Stephen Mullowney, CEO, TRX Gold Corp.

Read the original news release →

More from TRX Gold Corporation

Jul 15, 2026 · 16:31

TRX reports record margins and early guidance, despite sequential revenue slips and emerging cost creep.

Earnings Jun 05, 2026 · 06:15

TRX Gold Reports Q3 2026 Production on Record Throughput, Reaffirms Guidance, and Accelerates Plant Expansion

Production / Operations May 14, 2026 · 08:44

Record results, a massive plant expansion, and a clean balance sheet collide with a 40% price correction — and a bizarre headline about a different company entirely

Drill Results Apr 23, 2026 · 11:30

TRX Gold Q2 Earnings Beat Masked by Cost Overrun Concerns and Profit Taking

Financings Apr 15, 2026 · 06:15

TRX Gold Delivers Record Q2 Earnings Amidst Expansion Capex Hike

Earnings Apr 10, 2026 · 09:00

TRX Gold Surges on Record Production and Cash-Funded Expansion; Capital Structure Cleared of Warrants

Drill Results