Tanzanian Royalty Exploration Corp
TRX Gold Corporation engages in the exploration, development, and production of mineral property in Tanzania. Its flagship project is the Buckreef Gold Project in Tanzania. The company was formerly known as Tanzanian Gold Corporation and changed its name to TRX Gold Corporation in May 2022. The company was incorporated in 1990 and is based in Oakville, Canada.
Tanzanian Royalty Exploration Corp (TRX) - Net Assets
Latest net assets as of November 2025: $103.73 Million USD
Based on the latest financial reports, Tanzanian Royalty Exploration Corp (TRX) has net assets worth $103.73 Million USD as of November 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($180.39 Million) and total liabilities ($76.66 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $103.73 Million |
| % of Total Assets | 57.5% |
| Annual Growth Rate | 11.9% |
| 5-Year Change | 204.71% |
| 10-Year Change | 423.72% |
| Growth Volatility | 32.04 |
Tanzanian Royalty Exploration Corp - Net Assets Trend (1998–2025)
This chart illustrates how Tanzanian Royalty Exploration Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Tanzanian Royalty Exploration Corp (1998–2025)
The table below shows the annual net assets of Tanzanian Royalty Exploration Corp from 1998 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-08-31 | $140.65 Million | +58.17% |
| 2024-08-31 | $88.93 Million | +7.43% |
| 2023-08-31 | $82.77 Million | +23.62% |
| 2022-08-31 | $66.96 Million | +45.06% |
| 2021-08-31 | $46.16 Million | +84.37% |
| 2020-08-31 | $25.04 Million | +36.24% |
| 2019-08-31 | $18.38 Million | -46.26% |
| 2018-08-31 | $34.19 Million | +19.06% |
| 2017-08-31 | $28.72 Million | +6.94% |
| 2016-08-31 | $26.86 Million | -41.36% |
| 2015-08-31 | $45.80 Million | -11.34% |
| 2014-08-31 | $51.65 Million | -1.00% |
| 2013-08-31 | $52.17 Million | +2.61% |
| 2012-08-31 | $50.84 Million | -10.22% |
| 2011-08-31 | $56.63 Million | +90.17% |
| 2010-08-31 | $29.78 Million | +4.81% |
| 2009-08-31 | $28.41 Million | +8.01% |
| 2008-08-31 | $26.31 Million | +6.32% |
| 2007-08-31 | $24.74 Million | +2.68% |
| 2006-08-31 | $24.10 Million | +10.13% |
| 2005-08-31 | $21.88 Million | +3.89% |
| 2004-08-31 | $21.06 Million | +43.49% |
| 2003-08-31 | $14.68 Million | +16.67% |
| 2002-08-31 | $12.58 Million | +64.18% |
| 2001-08-31 | $7.66 Million | +32.36% |
| 2000-08-31 | $5.79 Million | +2.57% |
| 1999-08-31 | $5.64 Million | -16.52% |
| 1998-08-31 | $6.76 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tanzanian Royalty Exploration Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 22272837699.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (August 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $316.62 Million | 293.33% |
| Other Comprehensive Income | $19.75 Million | 18.29% |
| Total Equity | $107.94 Million | 100.00% |
Tanzanian Royalty Exploration Corp Competitors by Market Cap
The table below lists competitors of Tanzanian Royalty Exploration Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Baolingbao Biology Co Ltd
SHE:002286
|
$398.99 Million |
|
Hangzhou Huawang New Material Technology Co.Ltd.
SHG:605377
|
$399.10 Million |
|
Hinova Pharmaceuticals Inc. A
SHG:688302
|
$399.12 Million |
|
Carter Bank and Trust
NASDAQ:CARE
|
$399.13 Million |
|
Vitesco Technologies Group Aktiengesellschaft
PINK:VTSCY
|
$398.84 Million |
|
Kunshan Top A Intelligent Equipment
SHE:300836
|
$398.83 Million |
|
Replimune Group Inc
NASDAQ:REPL
|
$398.83 Million |
|
Queclink Wireless Solutions Co Ltd
SHE:300590
|
$398.65 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tanzanian Royalty Exploration Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 73,931,158 to 107,940,000, a change of 34,008,842 (46.0%).
- Net income of 943,690 contributed positively to equity growth.
- Share repurchases of 1,000,000 reduced equity.
- Other comprehensive income increased equity by 5,135,285.
- Other factors increased equity by 28,929,867.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $943.69K | +0.87% |
| Share Repurchases | $1.00 Million | -0.93% |
| Other Comprehensive Income | $5.14 Million | +4.76% |
| Other Changes | $28.93 Million | +26.8% |
| Total Change | $- | 46.00% |
Book Value vs Market Value Analysis
This analysis compares Tanzanian Royalty Exploration Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.38x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 8.63x to 4.38x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1998-08-31 | $0.19 | $1.60 | x |
| 1999-08-31 | $0.15 | $1.60 | x |
| 2000-08-31 | $0.14 | $1.60 | x |
| 2001-08-31 | $0.15 | $1.60 | x |
| 2002-08-31 | $0.17 | $1.60 | x |
| 2003-08-31 | $0.19 | $1.60 | x |
| 2004-08-31 | $0.26 | $1.60 | x |
| 2005-08-31 | $0.26 | $1.60 | x |
| 2006-08-31 | $0.28 | $1.60 | x |
| 2007-08-31 | $0.29 | $1.60 | x |
| 2008-08-31 | $0.30 | $1.60 | x |
| 2009-08-31 | $0.32 | $1.60 | x |
| 2010-08-31 | $0.33 | $1.60 | x |
| 2011-08-31 | $0.60 | $1.60 | x |
| 2012-08-31 | $0.51 | $1.60 | x |
| 2013-08-31 | $0.50 | $1.60 | x |
| 2014-08-31 | $0.49 | $1.60 | x |
| 2015-08-31 | $0.43 | $1.60 | x |
| 2016-08-31 | $0.24 | $1.60 | x |
| 2017-08-31 | $0.24 | $1.60 | x |
| 2018-08-31 | $0.27 | $1.60 | x |
| 2019-08-31 | $0.13 | $1.60 | x |
| 2020-08-31 | $0.15 | $1.60 | x |
| 2021-08-31 | $0.21 | $1.60 | x |
| 2022-08-31 | $0.24 | $1.60 | x |
| 2023-08-31 | $0.25 | $1.60 | x |
| 2024-08-31 | $0.25 | $1.60 | x |
| 2025-08-31 | $0.37 | $1.60 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tanzanian Royalty Exploration Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 0.87%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.19%
- • Asset Turnover: 0.36x
- • Equity Multiplier: 2.05x
- Recent ROE (0.87%) is above the historical average (-21.20%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1998 | -11.44% | -122756947.62% | 0.00x | 1.01x | $-1.45 Million |
| 1999 | -27.70% | -116672017.91% | 0.00x | 1.04x | $-2.13 Million |
| 2000 | -40.01% | -170316994.12% | 0.00x | 1.06x | $-2.90 Million |
| 2001 | -6.68% | 0.00% | 0.00x | 1.05x | $-1.28 Million |
| 2002 | -6.86% | 0.00% | 0.00x | 1.07x | $-2.12 Million |
| 2003 | -14.84% | 0.00% | 0.00x | 1.05x | $-3.65 Million |
| 2004 | -7.59% | 0.00% | 0.00x | 1.04x | $-3.70 Million |
| 2005 | -13.40% | 0.00% | 0.00x | 1.02x | $-5.12 Million |
| 2006 | -17.90% | 0.00% | 0.00x | 1.03x | $-6.72 Million |
| 2007 | -15.85% | 0.00% | 0.00x | 1.03x | $-6.40 Million |
| 2008 | -14.02% | -4471.14% | 0.00x | 1.02x | $-6.32 Million |
| 2009 | -16.54% | 0.00% | 0.00x | 1.02x | $-7.54 Million |
| 2010 | -11.32% | 0.00% | 0.00x | 1.08x | $-6.35 Million |
| 2011 | -19.71% | 0.00% | 0.00x | 1.20x | $-16.82 Million |
| 2012 | -17.53% | 0.00% | 0.00x | 1.25x | $-14.00 Million |
| 2013 | -6.01% | 0.00% | 0.00x | 1.16x | $-8.02 Million |
| 2014 | -3.97% | 0.00% | 0.00x | 1.06x | $-6.98 Million |
| 2015 | -19.92% | 0.00% | 0.00x | 1.19x | $-13.25 Million |
| 2016 | -48.68% | 0.00% | 0.00x | 1.48x | $-15.14 Million |
| 2017 | -21.21% | 0.00% | 0.00x | 1.45x | $-8.74 Million |
| 2018 | -19.92% | 0.00% | 0.00x | 1.58x | $-10.02 Million |
| 2019 | -170.39% | 0.00% | 0.00x | 2.14x | $-32.10 Million |
| 2020 | -45.64% | 0.00% | 0.00x | 1.52x | $-14.07 Million |
| 2021 | -8.35% | 0.00% | 0.00x | 1.18x | $-8.75 Million |
| 2022 | -12.37% | -41.18% | 0.20x | 1.47x | $-14.29 Million |
| 2023 | 4.16% | 5.87% | 0.42x | 1.70x | $-4.27 Million |
| 2024 | -0.86% | -1.14% | 0.41x | 1.85x | $-8.03 Million |
| 2025 | 0.87% | 1.19% | 0.36x | 2.05x | $-9.85 Million |
Industry Comparison
This section compares Tanzanian Royalty Exploration Corp's net assets metrics with peer companies in the Gold industry.
Industry Context
- Industry: Gold
- Average net assets among peers: $1,956,755,866
- Average return on equity (ROE) among peers: -68.70%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tanzanian Royalty Exploration Corp (TRX) | $103.73 Million | -11.44% | 0.74x | $398.94 Million |
| Almadex Minerals Ltd (AAMMF) | $14.43 Million | -15.31% | 0.02x | $11.47 Million |
| Allied Gold Corporation (AAUC) | $111.36 Million | -6.66% | 4.92x | $1.61 Billion |
| Aero Energy Limited (AAUGF) | $14.72 Million | -5.86% | 0.05x | $613.34K |
| Abcourt Mines Inc (ABMBF) | $542.08K | -7.78% | 0.16x | $27.58 Million |
| Aben Resources Ltd (ABNAF) | $925.43K | -59.62% | 0.09x | $1.17 Million |
| Advance Gold Corp (ADGCF) | $206.54K | -11.57% | 1.00x | $480.91K |
| Agnico Eagle Mines Limited (AEM) | $19.42 Billion | 10.18% | 0.48x | $105.00 Billion |
| Affinity Gold Corp (AFYG) | $241.37K | -497.12% | 0.10x | $4.68K |
| Andes Gold Corp (AGCZ) | $648.20K | -54.33% | 0.04x | $0.95 |
| Antioquia Gold Inc (AGDXF) | $1.57 Million | -38.90% | 0.28x | $1.44 Million |