TRX Gold reports Q1 revenue $25.12M vs. $12.53M last year

CEO Stephen Mullowney commented: “In Q1, we once again delivered record results, in line with guidance shared last quarter, pouring a record 6,597 ounces of gold and selling 6,492 ounces of gold at an average realized price of $3,860 per ounce, generating revenue of $25.1M, gross profit of $14.2M – 57% margin – and EBITDA of $13.2M – 53% margin-. The strong cash flow in a record gold price environment has enabled us to meaningfully reinvest in TRX Gold’s (TRX) growth. During the quarter, we strengthened our working capital position, advanced plans to upgrade and expand our processing plant to improve our production profile, and increased investment in exploration to further delineate resources at Buckreef Gold. The company is entering a new phase of growth, with improving production scale, stronger margins and a growing resource base. We are very encouraged by the progress and excited about the year ahead.”