TRX Gold CEO Stephen Mullowney joined Steve Darling from Proactive to share news regarding the company's Buckreef Gold Project.
The key highlight is the arrival of a new 1,000-tonne-per-day (tpd) capacity ball mill on-site, which has the potential to significantly boost gold production. The expansion of the mill is expected to increase the processing capacity from 1,000 tpd to 2,000 tpd, leading to a projected increase in ore throughput from 75% to 100% on an average annual basis.
This near-doubling of milling capacity positions Buckreef Gold to exceed its fiscal 2023 annual guidance of 20,000-25,000 ounces of gold production.
Mullowney emphasized that the planned expansion is fully funded, with an estimated capital expenditure of approximately US$6 million. Funding for the mill expansion is expected to come from various sources, including existing cash resources, cash flow from operations, ore stockpiles, gold forward sales, and potential bank financing.
The company is currently in advanced discussions with Tanzanian banks to secure both operating and term loan facilities.
This expansion project represents a significant step forward for TRX Gold as it aims to enhance its gold production capabilities and further develop the Buckreef Gold Project.
Proactive Investors Canada
View source version on newsdirect.com: https://newsdirect.com/news/trx-golds-buckreef-gold-project-set-to-soar-with-new-1-000-tonne-per-day-mill-expansion-312652459
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Daily Scotland News journalist was involved in the writing and production of this article.