TRX Gold is set to dramatically increase its gold production with the installation of a new ball mill at its operation in Tanzania. This expansion is expected to significantly boost processing capacity, from 1,000 metric tons per day to 2,000 tons per day on an average annual basis. Additionally, TRX Gold anticipates increasing ore throughput from 75% to 100%. As a result, the company foresees a substantial rise in gold production.
The doubling of milling capacity at Buckreef Gold Project will likely push gold production beyond the projected range of 20,000-25,000 ounces for fiscal year 2023. Although TRX Gold has not released updated figures, Chief Executive Stephen Mullowney assures the market that the company will provide revised production guidance as the expansion approaches commercial operation.
To capitalize on increased gold production, TRX Gold has already ordered other necessary items and is focused on swiftly bringing the 2,000 tons-per-day operation online.
Third Quarter Production Results
During the third quarter, Buckreef Gold achieved notable results. A total of 4,764 ounces of gold were poured, with 4,810 ounces sold. Moreover, overall production for the year saw record-breaking success, with 15,794 ounces poured and 16,068 ounces sold.