TRX Gold Corporation has announced its third-quarter 2025 financial results, showcasing strong performance in a favorable gold price environment. The company reported a revenue of $12.5 million for the quarter, a significant increase from the previous year. Gross profit rose to $4.4 million, while net income reached $1.1 million. Additionally, operating cash flow improved to $3.4 million with an Adjusted EBITDA of $4.0 million. The company sold 3,995 ounces of gold at a record average realized price of $3,114 per ounce, benefiting from lower mining and processing costs. Year-to-date figures also showed an upward trend, with 12,532 ounces of gold poured and revenue of $34.1 million. Gross profit for the year to date was $11.4 million, net income was $1.3 million, and Adjusted EBITDA was $9.3 million. TRX Gold highlighted its successful execution of a scheduled strip campaign to access higher-grade ore, leading to improved financial performance. The company also reported a positive shift in adjusted working capital, which turned positive from a previous negative position, with an improvement in its current ratio to approximately 1.1. The company's stockpile increased to approximately 401 thousand tonnes grading 1.31 grams per tonne, containing an estimated 16,876 ounces of gold. The Preliminary Economic Assessment for Buckreef Gold indicated robust growth potential, with an average annual production forecast of approximately 62,000 ounces of gold over a 17.6-year mine life, including an underground expansion. The project has an NPV5% of $1.2 billion pre-tax and $0.8 billion after-tax, based on a gold price of $3,000 per ounce. The expansion is expected to be funded by internal cash flows from current operations. The company aims to continue expanding and upgrading processing capacity, pursuing greenfield exploration, and strengthening its liquidity in the short-to-medium term.