# TRX Gold Reports Q4 and Year-End 2025 Results

Source Brief: https://evesgoldminers.com/research/source-briefs/trx-gold-corporation-2025-12-02-trx-gold-reports-q4-and-year-end-2025-results-dcbc03ab
Original source: https://trxgold.com/news/trx-gold-reports-q4-and-year-end-2025-results/
Original published: 2025-12-02
EGM generated: 2026-09-27
Company: TRX Gold Corporation (TRX)

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## Extracted Document Text

# TRX Gold Reports Q4 and Year-End 2025 Results

Source: https://trxgold.com/news/trx-gold-reports-q4-and-year-end-2025-results/
Published: 2025-12-02T11:15:00+00:00
Fetched: 2026-09-12T07:11:37.134+00:00
Source artifact: dcbc03ab-8d13-4dff-9357-eff6dcdf204d
Normalizer input: text

## Content

TORONTO, Ontario, December 2, 2025 – TRX Gold Corporation (TSX: TRX) (NYSE American: TRX) (the “Company” or “TRX Gold”) reported its results for the fourth quarter (“Q4 2025”) and year end August 31, 2025 (“fiscal 2025”). Financial results are available on the Company’s website at www.TRXgold.com .
Stephen Mullowney, TRX CEO commented: “In Q4 we achieved a record 6,404 ounces of gold poured and 6,977 ounces of gold sold at an average realized price of $3,363 per ounce, recognizing revenue of $23.5 million, gross profit of $12.6 million (54% margin) and Adjusted EBITDA of $12.7 million (54% margin). This performance continued into Q1 2026, with another quarterly production record of approximately 6,550 ounces of gold, sold at higher record gold prices. The Company is recapitalizing the business with internally generated cash flow as evidenced by working capital turning positive in Q4 2025. We expect that working capital will continue to improve and anticipate being fully recapitalized from a working capital perspective in Q2 2026. At the same time, the processing plant expansion has commenced and exploration continues, again being funded by cash flow from operations. We are set up well for fiscal 2026.”
Mr. Mullowney continued: “In 2025, our PEA on the Buckreef Gold expansion was a defining milestone, outlining a long-life, scalable asset with an NPV 5% of $1.9 billion pre-tax ($1.2 billion after-tax) at US$4,000/oz gold. Additionally, subsequent to year-end we announced that the processing facility will be significantly larger than the 3,000 tonnes per day (“tpd”) plant as outlined in the PEA study. We will also be accelerating exploration plans on high-grade zones such as Stamford Bridge in fiscal 2026, where we have seen our best drill results to date, as well as other areas identified through our exploration program. Finally, over time we believe that the higher processing capacity and prospective new discoveries have the potential to significantly improve the