TRX Gold Corporation (AMEX:TRX) Q4 2022 Earnings Call Transcript

Page 4 of 4

Mike Niehuser: Okay. And one more question on the — I see you’re doing some sterilization drilling for additional tailings ponds. Are you — can you comment on area available for tailings ponds as you do grow? And if you have any clever ideas about being able to manage those ponds so that maybe using a material elsewhere for the roads or such, because it looks like your — when you grow, you go from bottleneck to bottleneck as you go from glory to glory. And I kind of sense that, that’s going to be following your new ball mill?

Stephen Mullowney: Yes. So tailings is the top priority, obviously, in any process flow sheet tailings is at the end, so it needs to be large enough to accommodate the mine plant. So the team is working with a major engineering — international engineering firm that develop that. There are spots on this property to put tailings facilities. It is a flat area. And so that team is working with government officials around that as well. With regards to how do you build that up over time, obviously, with tailings, it will be a potted system or a rebuilt over time. The asset is in operation and is mining waste along with ore. So the — sorry, the engineering firm along with the team on the ground is looking at using mine waste over time to build out the tailings facilities. But that is a work-in progress.

Mike Niehuser: Yes. Okay. I just also congratulate

Stephen Mullowney: lower your operating costs as well.

Mike Niehuser: Yes, it’s need how to configure it that way. Just also want to say congratulations on your no lost time accidents, a good sign that things are really well organized and efficient and modern. So congratulations to you and your team.

Stephen Mullowney: Thank you for that. That’s a great accomplishment for the team no matter where you are in the world. Do you want to go to work safely? Do you want to go home safely?

Operator: As there are no further questions from the phone lines. This concludes the question-and-answer session. I would like to turn the conference back over to Stephen Mullowney for any closing remarks.

Stephen Mullowney: Thank you. And so I would like to thank our shareholders for the support over the last year as we continually grow the Buckreef asset and expand it. Financial markets have not been the best, but we’ve been able to accomplish quite a bit over the last year in a really tough operating environment today. I don’t think we found it tough, but I think generally the business sentiment is that it was getting tougher, but we managed to get through that, build these plants on time, on budget, start to figure out our asset and the potential of that asset. We have a good idea of where we’d like to go with the asset. But there’s a lot of work to continually do and the focus on growth on both production profile as resource expansion requires a lot of work, requires a lot of exploration programs and it requires a lot of ingenuity to make sure that you continually advance on a very profitable basis.

And that’s going to be the focus of our next year at Buckreef. We have a laser focus on growing the asset, while having now focus on cost, not only in the short-term, but over the medium and long-term as well, both from an operating perspective, as well as a capital cost perspective. And so we expect to have just as good as 2023 as we did in 2022. And myself and the team are absolutely open for any questions by anyone at any time. And we maintain an open door policy with shareholders. So thank you for your support and we look forward to continually growing our asset base together and future success. Thank you.

Operator: This does concludes today’s conference call. You may disconnect your lines. Thank you for participating, and have a pleasant day.

Follow Trx Inc (NYSEMKT:TRX)

Page 4 of 4