TNX:CC - TRX Gold's Buckreef gold project set to soar with new 1000-tonne-per-day mill expansion
(NewsDirect)
TRX Gold CEO Stephen Mullowney joinedSteve Darling from Proactive to share news regarding the company'sBuckreef Gold Project.
The keyhighlight is the arrival of a new 1,000-tonne-per-day (tpd) capacityball mill on-site, which has the potential to significantly boost goldproduction. The expansion of the mill is expected to increase theprocessing capacity from 1,000 tpd to 2,000 tpd, leading to aprojected increase in ore throughput from 75% to 100% on an averageannual basis.
This near-doubling ofmilling capacity positions Buckreef Gold to exceed its fiscal 2023annual guidance of 20,000-25,000 ounces of gold production.
Mullowney emphasized that the plannedexpansion is fully funded, with an estimated capital expenditure ofapproximately US$6 million. Funding for the mill expansion is expectedto come from various sources, including existing cash resources, cashflow from operations, ore stockpiles, gold forward sales, andpotential bank financing.
Thecompany is currently in advanced discussions with Tanzanian banks tosecure both operating and term loan facilities.
This expansionproject represents a significant step forward for TRX Gold as it aimsto enhance its gold production capabilities and further develop theBuckreef Gold Project.
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