TRX Gold (TSX:TNX, NYSE-A:TRX) said it had completed the newly expanded 2,000 tpd processing facility.
In a statement, TRX Gold (TSX:TNX, NYSE-A:TRX) said the plant has been consistently achieving an average throughput of 1,750 tpd, with a peak of 1,873 tpd—a 116% increase over Q3 2024.
Average weekly gold production has risen to 616 ounces, marking a 60% increase from Q3 2024 levels.
Once minor welding on the carbon-in-leach (CIL) tanks and some electrical work on agitators and intertank screens are finalized, the plant is expected to reach its full 2,000 tpd capacity, the company said.
The new circuit is expected to drive increased throughput and recovery percentages, TRX added.
Meanwhile, TRX said it had poured 4,628 ounces of gold and sold 4,515 ounces at an average price of $2,270 per ounce, resulting in a positive operating cash flow of $3.1 million during fiscal 3Q.
The company reported revenue of $10.1 million and adjusted EBITDA of $3.9 million.
Year-to-date, TRX Gold reported revenue of $27.5 million and an adjusted EBITDA of $9.1 million.
The company said it managed its expenditures while advancing the plant expansion, maintaining a cash balance of approximately $7.7 million and a positive adjusted working capital position of $1.7 million.
The total capital cost for the mill expansion was approximately $6.0 million, completed on time and within budget.
“We are excited with the direction the Buckreef Gold Project is headed, as we are already seeing improved performance from the new crushing circuit and expanded milling facility during its wet commissioning,” Stephen Mullowney, TRX Gold’s CEO, commented.
“We carefully managed our capital during the year to ensure the processing plant expansion was funded from organically generated cash flow.”