Tanzanian Royalty Exploration (TSE:TRX) has released an update.
TRX Gold Corporation reported a promising second quarter for 2024 with significant developments, including the near completion of a plant expansion expected to double throughput to 2,000 tonnes per day, potentially enhancing future cash flow and allowing for an extensive exploration drilling campaign. Operational highlights feature a new operational crushing circuit contributing to a gold production of 2,302 ounces between March and April, and a strong financial profile with $8.0 million in revenue and a gross profit margin of 41%. The company anticipates further growth with the resumption of its exploration program in Q4 2024, targeting increased resource base and continued high-margin gold production.
For further insights into TSE:TRX stock, check out TipRanks’ Stock Analysis page.
