TRX Gold lifts annual production 57% to the top end of guidance

TRX Gold ($TRX) reported preliminary fourth-quarter production of 8,173 ounces, up 28%, helping lift full-year output to 29,650 ounces. Annual production increased 57% and finished near the top of the company’s 25,000–30,000-ounce guidance range. Improvements to throughput and recovery at the existing processing operation supported the higher output.

The company is progressing a larger milling installation with a targeted capacity of 3,500 tonnes per day, while keeping the existing operation available. That expansion remains a development project rather than capacity already operating at its intended rate. The production figures are preliminary and unaudited; they should not be read as a completed earnings release. Financial results will establish realized selling prices, costs, profitability and cash generation.

Sources:

• TRX Gold — production update, GlobeNewswire reprint