TRX Gold (TRX) Corporate presentation summary

Strategic focus and operational overview

• Mission centers on rapid, disciplined, and sustainable growth at the Buckreef Gold Project in Tanzania, targeting high-margin operations and long-term stakeholder value.

• Buckreef is a producing open-pit gold mine with a 2,000 tpd CIL plant, 55%/45% JV with the Tanzanian government.

• LTM annual production reached 25,141 oz gold, generating $95.2M revenue and $50.1M adjusted EBITDA.

• Market capitalization stands at $502M with a $26M cash balance and minimal debt.

Financial and production performance

• Q2 2026 saw record gold production (7,453 oz) and sales (7,314 oz), with revenue of $34.1M and adjusted EBITDA of $20.2M.

• Achieved a record average realized gold price of $4,655/oz and recovery rates of 89–92%.

• Fiscal 2026 guidance: 25,000–30,000 oz gold at $1,400–$1,600/oz cash cost, $15–$20M capex, and $3–$5M exploration spend.

• Working capital improved to $32.1M, with a significant increase in stockpile inventory.

Growth initiatives and expansion plans

• Three mill expansions since 2021 increased capacity to 2,000 tpd; current expansion targets 3,500+ tpd.

• Updated PEA in progress, aiming to boost throughput to 5,500+ tpd and further enhance margins and NAV.

• PEA (April 2025): Avg. annual production 62,000 oz, 17.6-year mine life, pre-tax NPV5% $1.88B at $4,000/oz gold.

• Growth capital of $89M planned over the next four years, funded by internal cash flow.