TRX Gold's 2025 Q4 Results: A Catalyst for Long-Term Growth in a Gold-Driven Market

The gold market is on fire-and companies that can scale production while maintaining profitability are the ones investors should be watching. TRX Gold (TSX: TRX) just delivered a Q4 2025 report that screams "buy the rumor, ride the wave." With gold prices trading near $3,400/oz, TRX's record production, robust margins, and aggressive expansion plans position it as a prime beneficiary of the sector's tailwinds. Let's break down why this stock is a long-term growth story.

Q4 2025: A Masterclass in Execution

TRX Gold didn't just meet expectations-it shattered them. In Q4 2025, the company and sold 6,977 ounces at an average realized price of $3,363/oz, generating $23.5 million in revenue. More impressively, , proving its ability to convert higher gold prices into shareholder value.

For the full fiscal year 2025, TRX poured 18,935 ounces and sold 19,213 ounces, racking up $57.6 million in revenue and $22.0 million in Adjusted EBITDA. These numbers aren't just strong-they're transformative. The company also improved its liquidity, . This financial discipline is critical in a volatile sector, and TRX's balance sheet is now primed for growth.

Strategic Scalability: Beyond the PEA

Here's where TRX Gold gets interesting. The company's Preliminary Economic Assessment (PEA) for the Buckreef Gold expansion already looks conservative. The PEA projects 62,000 ounces of annual production over 17.6 years, with a pre-tax NPV5% of $1.9 billion at $4,000/oz gold. But TRX isn't stopping there. It's building a larger processing facility than initially planned, with a 3,000+ tpd circuit for sulphide material and a 1,000 tpd circuit for oxide material. This isn't just incremental growth, it's a step-change in capacity, funded entirely by internal cash flow.

The CEO, , put it plainly: "The expansion is well underway and anticipated to lead to higher gold production than initially projected" according to company statements. With gold prices trending higher, this scalability ensures TRX can capitalize on every dollar of the commodity's rally.

High-Grade Discoveries and Strategic Partnerships

TRX's exploration team deserves a standing ovation. The discovery of the Stamford Bridge Zone-with intersections like 37 meters @ 6.86 g/t Au and 35.5 meters @ 5.48 g/t Au-shows the company isn't just mining existing reserves but unlocking new value. These high-grade hits reduce the cost per ounce and extend mine life, both of which are critical for long-term margins.

Meanwhile, the partnership with the Bank of Tanzania to allocate 20% of production for domestic sales is a masterstroke. By , TRX is effectively locking in cost advantages while supporting local markets. This kind of strategic flexibility is rare in the sector and adds another layer of resilience.

Why This Is a Gold-Driven Growth Story

Let's connect the dots. Gold is in a multiyear bull market, driven by inflation fears, central bank buying, and . Companies that can scale production without diluting margins are the ones that will outperform. TRX Gold checks both boxes:

1. Gold Price Momentum, .
2. Operational Scalability.

. And with the company , .

The Bottom Line

TRX Gold's Q4 2025 results aren't just a quarterly win-they're a blueprint for long-term growth. The company is executing on its expansion plans, unlocking high-grade resources, and securing strategic advantages in a rising gold market. For investors, this is the kind of momentum you want to ride. As the gold rally continues, TRX is not just keeping up-it's accelerating ahead of the pack.