Why Tanzanian Gold Corporation (TRX) stock plummeted in the after-hours on Tuesday?

0
276
NFTs Stocks
NFTs Stocks

Tanzanian Gold Corporation (TRX) shares plummeted 7.08% in after-hours on Tuesday, January 11, 2022, and closed at $0.40. However, in the regular trading session of Tuesday, TRX’s stock gained 3.33%. TRX shares have fallen 31.46% over the last 12 months, and they have moved up 4.96% in the past week. Over the past three months, the stock has lost 7.59%, while over the past six months, it has declined 12.57%.

Let’s have a look at its recent news and developments.


Top 5 Cheap Stocks to Own Right Now

While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.

Sign up here to get your free report now. .

Sponsored


>> 7 Top Picks for the Post-Pandemic Economy << 

TRX upcoming Annual meeting

On January 04, 2022, Tanzanian Gold Corporation announced that its Annual General Meeting of Shareholders will be held at 11:00 EDT on Friday, February 25, 2022.

TRX filed its annual statement

Tanzanian Gold Corporation (TRX) submitted its audited consolidated financial statements for the fiscal year ended August 31, 2021, included in the Company’s Annual Report on Form 20-F as filed with the Securities and Exchange Commission (“SEC”) on December 3, 2021.

TRX participation in the recent conference

Tanzanian Gold Corporation (TRX) recently participated in the John Tumazos Very Independent Research LLC December 2021 Virtual Conference, which was held on December 7, 2021.

The company was presented by Stephen Mullowney, TanGold’s Chief Executive Officer, together with Andrew Cheatle (COO) and Michael Leonard (CFO) during the event.

TRX latest financial results

On November 30, 2021, Tanzanian Gold Corporation (TRX) reported its results for the fourth quarter and year-end 2021.

FY 2021 financial figures

  • General and administrative expenses were $9.02 million in FY 2021 compared to $7.7 million in FY 2020.
  • It suffered a net loss of $5.3 million or net loss per share of $0.02 in FY 2021 compared to a net loss of $12.14 million or net loss per share of $0.07 in FY 2020.
  • As of August 31, 2021, Tanzanian Gold had cash of $13.4 million and net working capital of $8.0 million.

TRX processing plant expansion

On October 28, 2021, Tanzanian Gold Corporation (TRX) provided an update on Buckreef Gold Company Limited’s procurement and construction plan for a 1,000+ tonnes per day (TPD) processing plant.

The most cost-effective and timely approach to building a 1,000+ tpd processing plant was to self-construct this operation as an expansion to the 360 tpd processing plant. An in-house plant expansion accelerates construction timelines, significantly reduces capital expenditures and advances the mine plan and gold production over previously envisaged timelines.

>> 7 Top Picks for the Post-Pandemic Economy << 

Conclusion

We are unable to find any valid reason behind its after-hours loss on Tuesday. Let’s see how it performs on Wednesday?

LEAVE A REPLY

Please enter your comment!
Please enter your name here