TRX Gold's Q1 2024: Production Consistency Meets Exploration Success Amid Cost Efficiency Gains

Production and Cost Efficiency at Buckreef:
- TRX Gold reported equivalent production as Q1 2024, with increased adjusted EBITDA cash flow from operations due to lower operating costs.
- The expanded 2,000-ton per day processing plant reduced costs by over half, maintaining low-cost production even at lower head grades.

Exploration Success and Resource Potential:
- Stanford Bridge drill results returned the highest grades, including 250-plus gram tonne meters, enhancing Buckreef's resource potential.
- The discovery was made adjacent to the main pit and is expected to be incorporated into the mine plan over time, contributing to increased production.

Plant Operational Efficiency Improvements:
- The company is focusing on operational efficiencies to increase recovery rates, with plans to install a SAG D ball mill and flotation circuit.
- This will enhance throughput and recovery rates, contributing to lower cash and operating costs per ounce.

Strip Campaign and Future Production Outlook:
- TRX Gold is currently undergoing a strip campaign to access higher-grade ore blocks, with expectations for improved head grades and recovery rates in the second half of 2025.
- This campaign is part of the plan to increase production capacity and leverage high gold prices.