11:55 AM EDT, 04/15/2025 (MT Newswires) -- (Updates shares.)

TRX Gold (TRX.TO) on Tuesday said it swung to a loss in the fiscal second quarter despite higher revenue.

The company said it lost US$1.9 million, or US$0.01 per share, in the quarter ended Feb.28, compared with a year-prior profit of US$1.9 million, or nil per share. Analysts polled by FactSet expected second-quarter earnings per share of US$0.01.

Revenue came in at US$9.1 million, up from US$8 million. The company poured 3,004 ounces of gold, down from 4,067 ounces at its Buckreef gold mine in Tanzania. Gold sales also fell to 3,401 ounces from 3,951 ounces.

The company said following substantial completion of the scheduled waste stripping campaign during the first half, it expects that the mine sequence will begin to access higher grade ore blocks starting in the third quarter. Daily production is expected to continue to increase over the remainder of the third quarter and fourth quarter.

TRX shares were last seen up $0.03 to $0.465 on the Toronto Stock Exchange.

Price: 0.47, Change: +0.03, Percent Change: +6.90

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