Episode Details

In this episode, we chat with Stephen Mullowney, CEO and Director of TRX Gold, a Canadian listed miner who are rapidly advancing their flagship Buckreef project in Tanzania, Africa.

Stephen has over 20 years of experience in corporate finance, mergers and acquisitions, and investments working for the likes of PwC and National Bank financial. He has been in the CEO role since 2020 and he shares his journey, what TRX Gold have been up to, the challenges they have faced including adopting new technologies, and discusses how they are working and helping the local communities and much more…

KEY TAKEAWAYS

• The company faced significant challenges, including financial losses and a strained relationship with the government. Strategic capital raising and restructuring were essential to turn the situation around and achieve operational success.
• TRX Gold prioritises local employment and community benefits, ensuring that a significant portion of the workforce comes from the surrounding areas. This approach helps build strong relationships and secures the social license to operate.
• The company is leveraging technology to enhance operational efficiency, such as using drone surveying and advanced planning software, while balancing the need for local employment opportunities.
• With a positive outlook on gold prices driven by geopolitical risks and inflation, TRX Gold aims to increase production and exploration efforts, focusing on cost management and cash flow generation to support growth initiatives.

BEST MOMENTS

"My leadership style is one of consensus building and consensus decision making. I like to have individuals that have an opinion and that will want to add an opinion to come forward."

"When I joined, the company was losing money. It didn't have a lot of treasury. Its relationship with the government needed improvement."

"We're 100% local people operating the asset. The team on the ground has done a great job of staying out ahead of the bottlenecks."

"I think gold prices are going to continue to perform in an upward direction and continue to move higher."

VALUABLE RESOURCES

Mail:        rob@mining-international.org

LinkedIn: https://www.linkedin.com/in/rob-tyson-3a26a68/

X:              https://twitter.com/MiningRobTyson 
YouTube: https://www.youtube.com/c/DigDeepTheMiningPodcast 

Web:        http://www.mining-international.org

This episode is sponsored by Hawcroft, leaders in property risk management since 1992. They offer:

• Insurance risk surveys recognised as an industry standard
• Construction risk reviews
• Asset criticality assessments and more

Working across over 600 sites globally, Hawcroft supports mining, processing, smelting, power, refining, ports, and rail operations.For bespoke property risk management services, visit www.hawcroft.com

GUEST SOCIALS

LinkedIn: https://www.linkedin.com/company/trx-gold-corporation/

Website: https://trxgold.com/

X: @TRXGoldCorp

Stephen Mullowney: https://www.linkedin.com/in/stephen-mullowney-b9b63320/

X: @StephenMullown1

ABOUT THE HOST