TRX Gold (TRX) Corporate presentation summary

Operating growth and Q3 performance

• Q3 2026 throughput reached 1,690 tpd, up 16% YoY; recovery was 84.9%, production 7,426 oz (+58%) and sales 6,983 oz (+75%).

• Q3 2026 revenue was $32.8M, adjusted EBITDA $20.7M and net income $8.4M; average realized gold price was $4,703/oz, up 51% YoY.

• FY2026 production reached 29,650 oz, within the 25,000–30,000 oz guidance range; full-year cash cost guidance was reaffirmed at $1,400–$1,600/oz.

• LTM annual production was 27,880 oz, revenue $115.5M and adjusted EBITDA $66.8M; LTM adjusted EBITDA margin was 58%.

Expansion and project economics

• Three mill expansions lifted capacity from a 120 tpd test plant to 2,000 tpd; the next expansion is underway, targeting 3,500+ tpd alongside an upgraded existing plant.

• The April 2025 PEA models 61,700 oz average annual production, 17.6-year mine life and $1,199/oz LOM AISC at 3,000 tpd.

• At $4,000/oz gold, the PEA estimates $1,878.5M pre-tax and $1,238.6M after-tax NPV5; an updated PEA is expected in Q4 2026, covering 5,500 tpd nameplate capacity.

• Growth capital of $88.7M over the first four years is supported by PEA average annual free cash flow of $102.6M at $4,000/oz gold.

Mineral resources and exploration

• April 2025 resources total 892.7k oz measured and indicated at 2.57 g/t Au, plus 725.5k oz inferred at 2.47 g/t Au.

• Stamford Bridge drilling returned 37 m at 6.86 g/t Au, 35.5 m at 5.48 g/t and 21 m at 8.63 g/t; the zone may extend to 1 km strike length.

• Exploration drilling at Eastern Porphyry intersected 14.0 m at 3.48 g/t Au; Anfield drilling returned 2.94 m at 13.74 g/t Au.

• FY2026 exploration budget was $3–5M; a 810 line-km magnetic survey identified 10 targets, with follow-up resistivity and induced polarization surveying initiated.