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The latest announcement is out from Tanzanian Royalty Exploration ( (TSE:TRX) ).
On March 2, 2026, TRX Gold reported record preliminary Q2 2026 production of 7,453 ounces of gold from its Buckreef operation in Tanzania, a 13% increase over Q1, with roughly 7,400 ounces sold amid sharply higher realized gold prices that are expected to drive significantly stronger revenue. The company also eliminated all outstanding warrants during the quarter, raising about $21 million, which helped lift its working capital ratio to roughly 2.5 times and leave it with approximately $25 million in cash and a simplified capital structure of about 325.6 million common shares.
Operationally, TRX Gold advanced a major expansion of its processing capacity toward more than 3,000 tonnes per day, accelerating procurement and installation of key plant components and completing metallurgical test work to finalize equipment specifications. The company also progressed tailings storage expansion, site infrastructure upgrades, and an aggressive drilling and exploration program, while revisiting its life-of-mine plan to potentially extend open-pit operations and reassess long-term processing capacity in light of higher gold prices, with implications for the timing and sequencing of future underground mining.
The most recent analyst rating on (TSE:TRX) stock is a Buy with a C$2.25 price target. To see the full list of analyst forecasts on Tanzanian Royalty Exploration stock, see the TSE:TRX Stock Forecast page.
More about Tanzanian Royalty Exploration
TRX Gold Corporation is a high-margin, growth-focused gold producer advancing the Buckreef Gold Project in Tanzania, centered on an open-pit mine and a 2,000-tonne-per-day processing plant. The project is underpinned by substantial measured, indicated and inferred mineral resources and a Preliminary Economic Assessment outlining long-life production potential, with management targeting higher throughput and resource growth through expansion and exploration.
YTD Price Performance: 95.28%
Average Trading Volume: 295,067
Technical Sentiment Signal: Buy
Current Market Cap: C$711.7M
See more insights into TRX stock on TipRanks’ Stock Analysis page.