TRX Gold Stock Price, News & Analysis

Tanzanian Gold Corporation (NYSE American: TRX) has appointed Michael P. Leonard as its Chief Financial Officer. Leonard, a CPA with over 17 years of experience at Barrick Gold, will enhance the company’s financial strategies and controls. His background in global investor relations is expected to strengthen market transparency and long-term planning. The company is focused on advancing its Buckreef gold project, which has a combined mineral resource of over 2 million ounces of gold. The strategic direction aims at increasing production and exploring new prospects.

Tanzanian Gold Corporation (TRX) announces favorable metallurgical test results from the sulphide component of the Buckreef Gold Mine. Conducted by SGS Canada, the tests include three diamond drill cores showing gold recovery rates of up to 95.4%. SGS is now tasked with further metallurgical variability testing. Initial results suggest a simple yet effective processing flow for high-grade ores. The Buckreef project's measured and indicated mineral resources total approximately 2.04 million ounces of gold, indicating significant potential for future production.

Tanzanian Gold Corporation (NYSE American: TRX) issued a clarification regarding exploration targets in a press release following a review by the British Columbia Securities Commission. The previous disclosure was replaced with updated figures for Northest Extension and Main Zone, highlighting potential tonnage and grade. The company holds a measured mineral resource of 19.98MT at 1.99g/t gold, totaling 1,281,161 ounces. Tanzanian Gold is advancing three value-creation tracks, including enhancing production and conducting a drilling program to explore mineral resources.

Tanzanian Gold Corporation (TSX:TNX, NYSE American:TRX) has closed a registered direct offering of 32,923,078 shares at US$0.65 each, alongside accompanying warrants for 16,461,539 shares at an exercise price of US$0.80. The total net proceeds, approximately USD$19.8 million, will fund the Buckreef Gold Project's development, exploration, and working capital. The offering complies with SEC regulations under effective shelf registration statements. The Buckreef Project boasts substantial mineral resources, with plans to increase annual gold production significantly.

On February 9, 2021, Tanzanian Gold Corporation (TRX) announced a registered direct offering of 32,923,078 common shares at $0.65 each, raising approximately $21.4 million. Concurrently, the company will issue warrants to purchase 16,461,539 additional shares at an exercise price of $0.80, expiring in five years. Proceeds will fund the Buckreef Gold Project development, including capital expenditures and exploration. The offering is expected to close around February 11, 2021, pending customary conditions. The company aims to enhance production and advance feasibility studies for expanded operations.

Tanzanian Gold Corporation (NYSE American:TRX) has appointed Andrew Cheatle as the new Chief Operating Officer. The company, in partnership with the State Mining Company (STAMICO), has received approval for an updated mine plan for the Buckreef Gold Project from Tanzania's Mining Commission. The Buckreef project boasts measured and indicated mineral resources of 35.88 million tonnes, containing over 2 million ounces of gold. The company aims to strengthen its financial position with increased production, advance feasibility studies for a larger processing plant, and continue drilling to assess further mineral resources.

Tanzanian Gold Corporation (TRX) has announced the resignation of Ulrich Rath from its Board of Directors, with Andrew Cheatle taking over his responsibilities, including leading the Technical Committee. The company continues to focus on its Buckreef gold project, which has seen a doubling of Measured and Indicated Mineral Resources to 2.04 million ounces of gold. Exploration may further increase resources by up to 2 million ounces. The company aims for near-term production of 15,000-20,000 ounces per year upon approval of an expanded plant and targets annual production of 150,000-175,000 ounces from a larger sulphide plant.

Tanzanian Gold Corporation (NYSE American:TRX) reported key 2020 accomplishments, including a doubling of Measured and Indicated Resources at the Buckreef Gold Project to 2.04 million ounces with an increased average grade of 1.77 grams per ton. The company progressed its Feasibility Study for a standalone sulphide processing plant and successfully operated a 5 tph test oxide plant. Additionally, TanGold discovered a new gold-bearing shear zone and submitted an updated mine plan to the Mining Commission in Tanzania. Leadership changes include appointing Stephen Mullowney as CEO.

Tanzanian Gold Corporation (TRX) announced an updated mine plan for the Buckreef Gold Project, submitted to the Mining Commission in Tanzania, in collaboration with its partner STAMICO. The revised plan accommodates artisanal mining and separates processing plants for metallurgical efficiency. The company will relinquish certain concessions with no impact on its 2.04 million oz Mineral Resources. Additionally, amendments to the joint venture agreement with STAMICO align with new Tanzanian mining laws. Progress on the Buckreef Feasibility Study continues, with ongoing metallurgical tests and exploration programs.