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Bullboard - Stock Discussion Forum TRX Gold Ord Shs TRX


Primary Symbol: T.TRX

TRX Gold Corporation is a Canada-based company, which is advancing the Buckreef Gold Project. The Company is engaged in the exploration, development and production of mineral property interests in the United Republic of Tanzania. The Buckreef Project's prospects include Buckreef, Bingwa, Tembo, Anfield, Eastern Porphyry and Buziba. The Buckreef Project encompasses three main mineralized zones... see more

TSX:TRX - Post Discussion

TRX Gold Ord Shs > Again excellent numbers exceeding expectations
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Post by GoldenArm on Jan 16, 2023 12:01pm

Again excellent numbers exceeding expectations

What more can be said. I hope most of you have read the Q1 2023 results. Everything is going well. Focused on drilling and more throughput. Perfect scenario for a self funding company. The zone keeps playing out with shallow gold and deeper gold. WELL DONE Stephen Mullowney

A third consecutive record-breaking quarter: During Q1 2023, the Company recorded its highest quarterly: (i) production, (ii) sales, (iii) gross profit, (iv) net income, (v) operating cash flow, and (vi) Adjusted EBITDA, at a low cash cost1 of $732 per gold ounce, below previously announced guidance of $750 - $850 per ounce.

Strong results contribute to a strong balance sheet:
TRX Gold recorded revenue of $9.7 million in Q1 2023 and cost of sales of $4.4 million, generating gross profit of $5.3 million and a gross profit margin of 55%. Furthermore, the Company recorded quarterly net income of $5.2 million, operating cash flow of $6.6 million and adjusted EBITDA1 of $4.4 million. At November 30, 2022, the Company had no debt, a cash position of $8.9 million and adjusted working capital of $4.8 million.

Production keeps growing: Buckreef Gold poured 5,395 ounces of gold and sold 5,754 ounces of gold, both quarterly records for the Company. The 49% increase in gold production in Q1 2023 compared to Q4 2022 is mainly attributable to an increase in ore tonnes milled following commissioning of the expanded 1,000+ tpd processing plant in Q1 2023.
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