TRX Gold Stock Price, News & Analysis

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.

Tanzanian Gold Corporation (TRX) announced the sale of 5,545,325 common shares and warrants to purchase 2,772,637 common shares, raising a total of $2,993,390. The shares and warrants were sold at a price of $0.5398, with warrants allowing the purchase of shares at $1.50 each for three years. Proceeds will fund capital expenditures, exploration, and working capital. The transaction, expected to close around December 23, 2020, is subject to customary conditions, including acceptance by the NYSE American and Toronto Stock Exchange.

Tanzanian Gold Corporation (NYSE MKT: TRX, TSX: TNX) announces the appointment of Stephen Mullowney as CEO and Board member, pending approval at the 2021 AGM. Formerly a Partner at PwC, Mullowney brings extensive experience in mining and finance, having executed over 60 capital raise and M&A mandates worth over $15 billion. The company's Buckreef Project will benefit from his leadership as it transitions from a junior operation to a large-scale gold mining enterprise. Notably, Measured and Indicated Resources have more than doubled to 2.036 million ounces, with potential for an additional 2 million ounces.