TRX Gold Corporation (TRX:CA) Q4 2025 Earnings Call December 10, 2025 9:30 AM EST

Company Participants

Stephen Mullowney - CEO & Director Richard Boffey - Chief Operating Officer Michael Leonard - Chief Financial Officer Khalaf Rashid - Senior Vice President of Tanzania

Conference Call Participants

Heiko Ihle - H.C. Wainwright & Co, LLC, Research Division

Presentation

Operator

Welcome to the TRX Gold Corporation Fourth Quarter 2025 Results Presentation. [Operator Instructions] and the meeting is being recorded. [Operator Instructions] I would now like to turn the conference over to Mr. Stephen Mullowney, CEO. Please go ahead, sir.

Stephen Mullowney CEO & Director

Yes. Thank you very much, and welcome, everybody, to the call this morning. Joining me today is our CFO, Mike Leonard, Mike? And our COO is joining us from Melbourne this morning. So it’s very early in his morning. Richard?

Richard Boffey Chief Operating Officer

Good morning, everybody.

Stephen Mullowney CEO & Director

Excellent. So today, we’re going to go over our 2025 results. 2025 was a very transformative year for the company. A couple of the key highlights from my perspective are the discovery of Stamford Bridge earlier in the year, having our best drill hole results ever on that part of the property.

Then also the release of our preliminary economic assessment in April of this year, which laid out a blueprint for production growth and expansion at Buckreef over the next 18 years of mine life. And that was great because that’s just on the Buckreef Main zone and doesn’t take into account the other potential exploration targets that we have.

And then we went through a very big stripping campaign to reset the mine plan, and then that enabled us to have record results in our fourth quarter, which have continued into the first quarter and really set

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