Canada · Delayed Price · Currency is CAD TRX Gold Earnings Call Transcripts
Fiscal Year 2026
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A self-funded plant expansion targets capacity of 5,500 tons per day, while a larger mine plan and PEA update are underway. Exploration drilling is also aimed at expanding resources and supporting future cash flow.
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Buckreef is advancing a fourth expansion to 5,500 t/d and aggressive drilling across its largely undrilled 16 sq km property. An updated PEA is targeted in the next three to four months, with a revised mine plan and higher production expected.
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Buckreef is expanding from 2,000 to a theoretical 5,500 tpd, with startup targeted for FY2028 and funding expected mainly from cash flow. Management sees run-rate EBITDA rising from ~$80m to >$200m and plans an updated study alongside expanded exploration.
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Record Q3 results featured strong gold production, revenue, and margins, with expansion projects and exploration programs advancing. Guidance for the year has already been met, and the company is well-positioned for further growth, supported by robust cash flow and a clean balance sheet.
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Record gold production and financial results were achieved, with revenue over $34 million and adjusted EBITDA exceeding $20 million for the quarter. Expansion plans are on track, supported by a strong cash position and robust working capital, with guidance reaffirmed for the year.
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Record Q1 2026 results featured all-time high production, revenue, and EBITDA, driven by strong gold prices and operational improvements. Expansion and exploration are advancing, with robust working capital and a positive outlook for higher throughput and resource growth.
Fiscal Year 2025
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Record Q4 and full-year results driven by high-grade ore, operational improvements, and record gold prices led to strong revenue, profit, and cash flow. 2026 guidance projects higher production, ongoing expansion, and intensified exploration, with continued focus on cost control and capital discipline.
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Q3 saw strong revenue and profit growth driven by higher gold prices and increased production from higher-grade ore. Plant optimizations and expansions are underway, with a focus on self-funded growth, improved recoveries, and normalized working capital.
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The Buckreef Gold project delivered strong Q2 and H1 FY2025 results, with robust PEA economics projecting a long mine life, low costs, and significant free cash flow. Operational upgrades, higher-grade ore, and prudent capital management support a positive outlook for the second half of the year.
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Q1 2025 delivered flat production despite lower grades, as plant expansion and operational efficiencies drove costs down and boosted EBITDA and cash flow. Exploration at Stamford Bridge and Anfield yielded strong results, supporting future growth.
Fiscal Year 2024
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Record revenue and EBITDA were achieved in 2024, supported by a successful mill expansion and high gold prices. The outlook for 2025 is positive, with higher production expected and continued focus on operational efficiency and exploration, while maintaining a non-dilutive growth strategy.
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Management highlighted a successful turnaround, ongoing operational expansions, and strong financial discipline, with production costs at $1,000/oz and gross margins near 50%. Exploration at Buckreef is yielding promising results, and further growth is planned through efficiency improvements and resource expansion.
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Strong Q3 results driven by the new 2,000 tpd plant, with revenue, cash flow, and margins all up year-over-year. Expansion was funded entirely from internal cash flow, with no new equity raised. Outlook is positive as throughput and production are set to increase further.