TRX Gold reports record Q4 gold production

TRX Gold said it set quarterly gold production records in Q4 2026 and delivered 8,173 ounces, up 28% from 6,404 ounces in Q4 2025. The company reported full-year gold production of 29,650 ounces in 2026, up 57% from 18,935 ounces in 2025, and said the result reached the top end of its guidance range of 25,000 to 30,000 ounces. TRX Gold also said its average gold price realization in Q4 2026 was about $4,233 per ounce, up 26% from $3,369 per ounce in Q4 2025, and added that revenue is expected to be significantly higher in Q4 2026 than in the prior-year period.

For the full year, the company said its average gold price realization was about $4,386 per ounce in 2026, up 46% from $2,999 per ounce in 2025, and added that revenue is expected to be significantly higher in 2026 than in 2025. During Q4 2026, the company said it continued upgrading the existing 2,000 tpd processing plant. The work included a pre-leach thickener, upgraded agitators and interstage screens, an Aachen reactor, oxygen plant, Adsorption, Desorption and Recovery ("ADR") plant, new gold room, apron feeder, belt magnet and new tertiary crusher.

The company said the plant upgrades are in various stages of completion and have started to improve plant reliability and performance, with gains in plant throughput, gold recovery and gold production in Q4 2026 versus the prior year comparative period. TRX Gold also said it continues to advance its processing plant expansion as a key catalyst for future growth. It said recent metallurgical test work led it to specify a Semi Autogenous Grind ("SAG") / Ball mill combination of 3,500 tpd for the next processing plant expansion, based on the optimal grind size for achievable mine feed from the mine plan.

The company said final contract execution for the new SAG / Ball mill was Completion is expected over the next 12 - 18 months, with initial downpayments already made in early Q4 2026. The existing upgraded 2,000 tpd processing plant will continue operating alongside the new 3,500 tpd SAG / Ball mill processing plant, lifting processing capacity from the 3,000 tpd assumed in the PEA. The higher throughput from the expanded plant is expected to support average annual gold production of more than the 62,000 ounces of gold originally anticipated in the PEA.

During fiscal 2026, Buckreef Gold drilled about 175 holes totaling 14,500 meters across resource definition, geotechnical, sterilization and greenfield exploration. Most of that work was completed in the second half of fiscal 2026 using one company-owned reverse circulation RC drill rig and one contractor diamond drill DD rig. The RC drill rig was commissioned in March 2026 and the DD rig in April 2026. Buckreef Gold also used the RC drill rig for ongoing grade control drilling for normal course operations.

Buckreef Gold has also Buckreef Gold said it has purchased an additional DD drill rig that is currently onsite and being commissioned, a new RC drill rig expected onsite in the next 2-4 weeks, and a new RC/DD combination drill rig due to arrive in the next 4-6 months. The company said the purchases, together with existing drill rigs on site, will significantly increase Buckreef Gold’s drilling capacity and be used for grade control, resource definition, geotechnical, sterilization and greenfield exploration drilling.

Buckreef Gold said the larger drilling capacity will also lead to a significant increase in greenfield exploration, including anomalies from the comprehensive geophysics study that identified ten promising targets, as well as Stamford Bridge and the Anfield Zone.