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Tag: TRX stock

  • Tanzanian Gold Corp. (TRX) stock Soars After Hours Amid the Upsurge of Nickel and Gold

    On March 10, Tanzanian Gold Corp. (TRX) stock soared high in the after-hours while it had been almost stagnant near its low for the past few days. With no official news from the company, the stock seems to have enjoyed the gains due to the upsurge in Nickel and Gold prices.

    In the regular trading session, the stock remained bullish with a gain of 2.36%, adding just $0.01. The stock closed the session at a price of $0.40 per share while 12.56 million shares exchanged hands. The volume of the session was a huge 1,685% of the average 745.26K shares. Following this, the stock soared high in the after-hours session to add 32.77%. Hence, TRX stock was trading at $0.53 per share in the after-hours at an active volume of 8.82 million shares.

    Founded in 1990, Tanzanian Gold Corp. is building a gold project at Buckreef in Tanzania along with its joint venture partner STAMICO. Currently, the company’s 273.09 million outstanding shares trade at a market capitalization of $106.54 million.

    What Happened with TRX?

    The ongoing Russia-Ukraine conflict has shot up a layer of uncertainty across all stock markets. With the increasing sanctions on Russia, the oil and energy industry has been volatile with a hike in energy prices. Subsequently, grain prices have also witnessed an upsurge as of late. Recently, the metal industry also entered a bullish trend with an upsurge in metal prices including Nickel and Gold. Thus, investors zeroed in on mining and metal stocks as a result of the upsurge in prices. TRX stock also seems to have gained quite the attention as it was trending at a humungous 1,685% of the average volume.

    2022 Annual Meeting Results

    On February 28, the company shared the voting results for its Annual General and Special meeting which took place on February 25. As per the results, all the items of business were approved by a majority of votes in the meeting.

    Source: Australian ICD

    A special resolution was passed and approved during the meeting for changing the name of the company to “TRX Gold Corporation”.

    Moreover, Rosalind Morrow ceased to be a director as she did not stand for re-election while all the other directors were re-elected. Additionally, Richard J. Steinberg, a partner at Martineau DuMoulin LLP, was appointed to the board of directors.

    The shareholders also approved renewing the company’s omnibus equity incentive plan of June 26, 2019.

  • Tanzanian Gold Corporation (TRX) stock is jumping to 9.47% – What’s driving it higher?

    Tanzanian Gold Corporation (TRX) has seen an increase of 9.47% in the aftermarket. However, the last trading session closed at $0.37 with an increase of 1.78%.

    $7.0 Million Registered Direct Offering – What’s up?

    On 26th January 2022, TRX announced that the company has completed the $7.0 million registered direct offering. The investor was given warrants to acquire up to 17,948,718 common shares from TRX. The warrants have a $0.44 exercise price, can be exercised at any time after issue, and will expire in five years.

    First Quarter 2022 Financial Results – Revealed by TRX

    TRX announced the first quarter 2022 results on 14th January 2022. The company experienced cash of around $7.9 million. Moreover, Buckreef Gold reported no lost time occurrences, two medical treatment incidents, and no COVID-19-related instances on site. Buckreef Gold had a safety incident frequency rate of 4.9 for the calendar year. Buckreef Gold had a zero incidence frequency rating when it came to safety incidents.

    Not only this but drilling at Buckreef Gold has resumed in the hopes of growing resources, discovering new ones, and converting reserves. Moreover, six exploration holes totaling 1,716 meters have been conducted to date, including three (758 meters) in the Buckreef Main Zone’s northeast expansion. In 2022, TRX intends to increase its exploration activity, with a focus on the Anfield Zone. Furthermore, one of the longest-running items on the Sulphide Development Project contained roughly 90% of the Buckreef Gold reserve. The metallurgical program has so far drilled 19 holes totaling 2,367 meters. Last but not the least, these metallurgical sample holes are for transportation in Q2 2022 for metallurgical testing.

    Now what?

    TRX experienced an amazing year. Not only this but the team has effectively moved the Company to a point where they have demonstrated that they can execute on a mining plan and produce enough gold to pay operating costs. As TRX continues to expand production in 2022, the team will be able to support value-adding operations like research and extracting the value of the Sulphide Development Plan mostly from expected positive operating cash flow.