TRX Gold: Self-Funded Growth Beyond The Gold Rally

TRX Gold Corporation offers high-margin gold production with a scalable growth trajectory, not solely reliant on gold price appreciation. I see ~$4.5k/oz as a defendable gold price floor, supporting durable EBITDA of ~$50m, with further upside optionality. Production ramp at Buckreef, funded by internal cash flows, targets a 50% increase in 2–3 years, with EBITDA potentially reaching $80–100m.