TRX Gold Stock Price, News & Analysis

Tanzanian Gold Corporation (NYSE American: TRX) announced the extension of the Special Mining License (SML 04/92) for the Buckreef Gold Project. Received from the Mining Commission of Tanzania, the renewed SML extends the mining rights from 2027 to 2032. This renewal is expected to cover the project's estimated life of mine, with further extensions anticipated beyond 2032. The company's CEO emphasized the positive implications of this license for advancing Buckreef Gold as a significant gold mining operation in Tanzania.

Tanzanian Gold Corporation (TRX) held its 2022 annual general and special meeting on February 25, 2022, where 102,168,042 common shares were voted, representing 40.04% of the total. Shareholders approved various items, including appointing seven directors and changing the company's name to TRX Gold Corporation. Notable appointments include Stephen Mullowney and Richard J. Steinberg. The Omnibus Equity Compensation Plan was also renewed. The company is advancing the Buckreef Gold Project in Tanzania with significant mineral resources and plans for expansion.

Tanzanian Gold Corporation (NYSE American: TRX) announced significant advancements in its 1,000+ tpd plant expansion at the Buckreef Gold Project. The arrival of two new 360 tpd ball mills reduces timeline risks, reinforcing the expected commissioning in Q2/Q3 2022. The completion of the second tailings storage facility and a new elution circuit allows for increased gold recovery. An inventory of 59,000 tonnes at 1.87 g/t and 4,800 tonnes at 3.43 g/t gold bolsters production forecasts of 15,000 – 20,000 oz annually. The project continues to progress with ongoing exploratory drilling efforts.

Tanzanian Gold Corporation (NYSE American: TRX) announced the successful commissioning of its 360 tpd oxide mill expansion at the Buckreef Gold Project. Notable January achievements include a record gold production of 764 ounces and a processing plant utilization rate of 97%. The project is set to increase ore production rates to over 1,000 tpd by Q2/Q3 2022. The company has also signed a gold sale agreement with Auramet and commenced exports of dorè for refining. The Buckreef project holds a significant mineral resource, totaling approximately 2,036,280 ounces of gold.

Tanzanian Gold Corporation (TSX:TNX, NYSE American:TRX) announced the successful closure of a registered direct offering, selling 17,948,718 common shares at $0.39 per share, generating net proceeds of approximately $6.4 million. The company plans to allocate these funds for the expansion of its processing plant, exploration drilling to enhance mineral resources, and advancing metallurgical studies for its Sulphide Development Project. This offering aims to accelerate the execution of TanGold's business strategy.

Tanzanian Gold Corporation (NYSE American:TRX) has entered a definitive agreement to sell 17,948,718 common shares at $0.39 each to an institutional investor, accompanied by warrants for the same number of shares at an exercise price of $0.44. The offering aims to enhance liquidity for ongoing projects, including the expansion of a processing plant to over 1,000 tpd, expected to produce 15,000-20,000 ounces of gold annually. Closing is anticipated on January 26, 2022, subject to customary conditions.

Tanzanian Gold Corporation (NYSE American: TRX) reported its Q1 2022 results, highlighting significant operational advancements at the Buckreef Gold project. In December 2021, Buckreef achieved its first month of positive operating cash flow, producing 533 ounces of gold, aided by the commissioning of a new 360 tpd processing plant. The company plans to expand this plant to over 1,000 tpd by mid-2022, aiming for an annual production of 15,000 to 20,000 ounces. Exploration drilling has recommenced, with a focus on resource expansion and development of the sulphide project, which represents 90% of Buckreef’s resources.

Tanzanian Gold Corporation (NYSE American:TRX) announces its Annual General Meeting (AGM) will be held virtually on February 25, 2022, at 11:00 EDT, due to COVID-19 health restrictions. Shareholders will receive Meeting materials by February 4, 2022. The company also revealed concerns regarding its audited financial statements, mentioning a going concern emphasis. This is not a change to previous SEC filings. The Company is focused on advancing its Buckreef gold project, aiming for increased gold production and exploration efforts to bolster its resources.

Tanzanian Gold Corporation (NYSE American: TRX) will present at the John Tumazos Very Independent Research LLC December 2021 Virtual Conference on December 7, 2021, from 1:30 PM to 2:30 PM EST. CEO Stephen Mullowney, COO Andrew Cheatle, and CFO Michael Leonard will discuss company developments. The live webcast can be accessed on the company's website, with a replay available afterwards. Tanzanian Gold is focused on its Buckreef gold project in Tanzania, with a measured resource of 1.28 million ounces and plans for expanding production to 15,000-20,000 ounces of gold per year.