TRX Gold Announces Successful Annual Meeting Results with New Board Member
Exciting Developments at TRX Gold Corporation
TRX Gold Corporation (TSX: TRX) (NYSE American: TRX) is thrilled to share the results of its recent Annual General and Special Meeting. Held on February 27, the meeting saw significant participation, with shareholders voting on key issues concerning the company's future direction.
Engagement from Shareholders
During the meeting, a remarkable 123,954,147 common shares were voted, reflecting a strong engagement rate of 43.98% of all issued shares. This level of shareholder activity highlights the confidence investors have in TRX Gold’s strategic vision and operational objectives.
Successful Voting Outcomes
All items on the agenda were approved by the shareholders, which included:
1. Establishment of the number of directors at five. A total of 121,582,773 votes (98.09%) were in favor, affirming the board's composition.
2. The appointment of Stephen Mullowney, Dr. Norman Betts, Shubo Rakhit, Richard J. Steinberg, and John McVey as directors, each receiving overwhelming support.
Appointment of John McVey
John McVey, a seasoned executive previously with Procon Mining & Tunnelling, is the newest member of the Board. His extensive experience in the mining and engineering sectors positions him to contribute significantly to TRX Gold's ambitions.
Board Insights
Stephen Mullowney, CEO of TRX Gold, expressed his enthusiasm about Mr. McVey’s appointment, stating, “We are excited to have John on board. His extensive experience in mining will be invaluable as we aim to increase our growth trajectory.”
About the Buckreef Gold Project
TRX Gold is advancing its Buckreef Gold Project, which is anchored by a robust Mineral Resource. The project, with a Measured and Indicated Resource of 35.88 million tonnes at 1.77 grams per tonne gold, holds approximately 2,036,280 ounces of gold. Additionally, there is an Inferred Resource of 17.8 million tonnes at 1.11 grams per tonne for an additional 635,540 ounces.
The leadership team is committed to enhancing shareholder value by not only increasing gold production but also generating positive cash flow to support further exploration efforts. This cash flow is vital for expanding mineral resources and advancing the larger project development—an initiative that constitutes 90% of the total mineral resources.
Commitment to ESG Standards
TRX Gold prioritizes environmental, social, and corporate governance. The company has developed strong relationships and initiatives over nearly two decades in Tanzania's Geita Region. This commitment underscores TRX Gold's dedication to sustainable practices within the mining industry.
Contact Information for Investors
For investor inquiries, please reach out to:
Investor Relations
TRX Gold Corporation
Email: IR@TRXgold.com
Phone: 1-437-224-5241
Website: www.TRXgold.com
Frequently Asked Questions
What was the outcome of the TRX Gold Annual General Meeting?
The shareholders approved all agenda items, indicating strong support for the company's strategic direction.
Who is the new director appointed to the TRX Gold Board?
John McVey has been appointed to the board, bringing significant experience in mining and engineering.
What are the key projects for TRX Gold?
The Buckreef Gold Project is the company's primary focus, with extensive mineral resources and plans for increased gold production.
How has TRX Gold's shareholder engagement been?
Shareholder participation was robust, with nearly 44% of shares voted at the meeting, demonstrating strong investor confidence.
What does TRX Gold do to ensure sustainability?
The company adheres to high environmental, social, and corporate governance standards, fostering sustainable practices in its operations.
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