TRX Gold Corp. (TRX), a Canadian miner, on Wednesday turned around to profit for the first quarter, helped by revenue growth, driven by a record average realized gold price.
For the three-month period to November 30, 2024, the company recorded net income of $2.137 million, compared with loss of $0.039 million, recorded for the same period last year.
Excluding items, EBITDA surged to $4.394 million from the prior year's $2.587 million.
Quarterly revenue was $12.528 million, up from the previous year's $9.404 million.
The earnings and revenue were supported by the average realized gold price of $2,653 per ounce, compared with $1,942 per ounce a year ago.
In the first quarter, the company poured 4,841 ounces of gold, lower than last year's 4,927 ounces, and sold 4,813 ounces, compared with 4,895 ounces of gold a year ago.
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