TRX Gold Q3 Throughput Up 25% to 1,833 tpd, Production Up 58%
TRX•TRX Gold achieved record Q3 2026 throughput of 1,833 tpd (up 25% y/y), driving production of 7,426 ounces (up 58%) and raising YTD output to 21,476 ounces. Gold recovery rose to 84.6%, average realized price reached $4,731/oz (up 52%), and the 3,500 tpd SAG mill expansion is on track for early Q4 2026 commissioning.
1. Q3 Operational Highlights
In Q3 2026, TRX Gold processed 1,833 tonnes per day, a 25% increase from Q3 2025, producing 7,426 ounces of gold, up 58% year-over-year, and raising year-to-date output to 21,476 ounces. The company benefited from a record average price of $4,731 per ounce, boosting revenue and supporting full-year guidance of 25,000–30,000 ounces.
2. GIC Inventory and Recovery
Gold-in-circuit inventory climbed to a record 1,706 ounces, over 1,000 ounces higher than Q2 2026, as the plant maximized recovery. Overall gold recovery improved to 84.6%, up from 67% in Q3 2025, driven by optimized feed quality, tighter grinding control, and streamlined elution and electrowinning processes.
3. Plant Expansion Progress
TRX Gold is advancing its processing plant expansion with a planned 3,500 tpd SAG/Ball mill circuit, with tendering underway and awards expected in early Q4 2026. Upgrades to the existing 2,000 tpd plant — including a pre-leach thickener, Aachen reactor, oxygen plant, ADR plant, and new tertiary crusher — are scheduled for completion by Q4 2026.
