Tanzanian Gold Corp
TSX:TNX

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Tanzanian Gold Corp
TSX:TNX
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Price: 41.94 CAD 1.28% Market Closed
Market Cap: 11.7B CAD

Tanzanian Gold Corp
Investor Relations

Tanzanian Gold Corp. occupies a prominent position in the gold mining industry, strategically anchored in one of Africa’s most promising gold belts. The company's flagship asset, the Buckreef Gold Project, serves as the cornerstone of its operations. Nestled in the richly laden Lake Victoria Greenstone Belt in Tanzania, this site is a focal point for the company's endeavors to unlock substantial mineral resources. Tanzanian Gold Corp. employs advanced geological methods and a combination of open-pit and potential underground mining methods to extract gold. By investing in state-of-the-art technology and refining their extraction processes, the company efficiently transforms mineral potential into tangible output. This operational efficiency underscores their competitive edge, allowing them to maintain a sustainable production pipeline and align with international mining standards.

The company’s revenue stream is intrinsically linked to its capacity to mine, refine, and sell gold. As the precious metal is extracted, it enters a refining process to ensure it meets market-grade quality before sale. Tanzanian Gold's expertise in navigating the fluctuating dynamics of the global commodities market ensures that it capitalizes on optimal selling conditions. Furthermore, the company's strategic alliances with local stakeholders and international investors have fortified its access to capital and expanded its exploratory reach within the region. This confluence of strategic resource management, coupled with market proficiency, positions Tanzanian Gold Corp. as a notable player in the gold mining sector, adept at leveraging both geological and economic factors to drive its profitability.

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Last Earnings Call
Fiscal Period
Q1 2024
Call Date
Jan 18, 2024
AI Summary
Q1 2024

Steady Operations: TRX Gold delivered another quarter of positive operating cash flow and high gross margins, with production just under 5,000 ounces—consistent with recent quarters.

Plant Expansion Progress: The plant's crushing circuit is about 65% complete, with full expansion to 2,000 tonnes per day expected between late January and mid-February, depending on weather.

Cash Costs & Guidance: Q1 cash costs were just over $1,000/oz, higher than the $800–900/oz full-year guidance, but expected to fall as the plant expansion and grid power improvements take effect.

Production & Cost Guidance Reiterated: Full-year production guidance of 25,000–30,000 ounces and cash cost guidance remain unchanged.

Growth Strategy: Management emphasized self-funded growth, prudent capital allocation, and a preference for using organic cash flow over equity raises.

Recovery Rate Outlook: Recovery rates were around 81% in Q1; management expects improvement to the high 80s% as new plant upgrades come online in the second half of the year.

Key Financials
Gold Production
Just under 5,000 ounces
Revenue
Over $9 million
Realized Gold Price
$1,942 per ounce
Gross Profit
Just under $4 million
Gross Margin
40%
Adjusted EBITDA
Almost $3 million
Operating Cash Flow
Over $5 million
Cash Costs
Just over $1,000 per ounce
Cash on Balance Sheet
Over $8 million
Recovery Rate
81%
Other Earnings Calls

Management

Mr. Stephen Mullowney B.B.A., C.A., C.F.A., CPA
CEO & Director
No Bio Available
Mr. Michael P. Leonard C.A., CPA
Chief Financial Officer
No Bio Available
Mr. Andrew Mark Cheatle B.Sc., M.B.A., P.Geo.
COO & Director
No Bio Available
Mr. Khalaf Rashid
Senior Vice President of Tanzania
No Bio Available
Ms. Christina Lalli
Vice President of Investor Relations
No Bio Available

Contacts

Address
ONTARIO
TORONTO
Bay Adelaide Centre, East Tower, 22 Adelaide Street West, Suite 3400
Contacts
+16046964236.0
www.tangoldcorp.com