- TRX Gold Corporation (TNX) has commissioned Buckreef Gold’s 1,000+ tonne per day (tpd) oxide mill circuit, which is now ramping up production
- This mill expansion – from its original 360 tpd capacity – was planned less than 12 months ago at a capital cost of US$4 million
- When operating at nameplate capacity of 1,000+ tpd, the operation is expected to produce an average of 15,000-20,000 ounces of gold annually over the life of the oxide mine plan
- TRX Gold Corp., formerly Tanzanian Gold Corp., is a mineral resource company
- TRX Gold Corporation opened trading at C$0.53 per share
TRX Gold Corporation (TNX) has commissioned Buckreef Gold’s 1,000+ tonne per day (tpd) oxide mill circuit, which is now ramping up production.
This mill expansion – from its original 360 tpd capacity – was planned less than 12 months ago at a capital cost of US$4 million.
First ore has been introduced to the expanded processing plant, and the team is ramping up throughput over the next month in order to reach nameplate capacity by the end of October.
When operating at nameplate capacity of 1,000+ tpd, the operation is expected to produce an average of 15,000-20,000 ounces of gold annually over the life of the oxide mine plan.
About 10 per cent of Buckreef Gold’s total mineral resource consists of oxide mineral resources.
The Buckreef Gold project has been transformed into a low-cost, high-margin operation enabling the execution of TRX Gold’s growth-oriented business strategy.
The company’s focus is to utilize current gold production to fund value-accretive activities, such as mineral resource development, exploration and future processing plant expansions.
“This is another great milestone at Buckreef Gold, and we are very proud of the dedication and hard work accomplished by our Tanzanian colleagues,” said Stephen Mullowney, TRX Gold CEO.
“Over the last 18 months, we have taken the Buckreef Gold project from a negative cash flow test plant to a high margin, cash flow positive operation that continues to have near-term expansion opportunities,” he added.
TRX Gold Corp., formerly Tanzanian Gold Corp., is a mineral resource company engaged in the acquisition of interests and the exploration of natural resource properties. The company’s main area of interest has been in the exploration and development of gold properties.
TRX Gold Corporation opened trading at C$0.53 per share.