TRX Gold (TRX) 6-K 16 Jan 24 Current report (foreign) Financial data

Cover

Cover	3 Months Ended
	Nov. 30, 2023
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Nov. 30, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--08-31
Entity File Number	001-32500
Entity Registrant Name	TRX GOLD Corporation
Entity Central Index Key	0001173643
Entity Address, Address Line One	277 Lakeshore Road East
Entity Address, Address Line Two	Suite 403
Entity Address, City or Town	Oakville
Entity Address, State or Province	ON
Entity Address, Country	CA
Entity Address, Postal Zip Code	L6J 1H9

Interim Condensed Consolidated

Interim Condensed Consolidated Statements of Financial Position (Unaudited) - USD ($) $ in Thousands	Nov. 30, 2023	Aug. 31, 2023
Current assets
Cash	$ 8,327	$ 7,629
Amounts receivable	2,062	3,140
Prepayments and other assets	1,384	1,463
Inventories	5,408	4,961
Total current assets	17,181	17,193
Other long-term assets	3,234	2,948
Mineral property, plant and equipment	66,648	64,059
Total assets	87,063	84,200
Current liabilities
Amounts payable and accrued liabilities	12,972	11,571
Income tax payable	670	1,081
Current portion of deferred revenue	2,108	1,549
Current portion of lease liabilities	51	65
Derivative financial instrument liabilities	3,345	3,544
Total current liabilities	19,146	17,810
Lease liabilities	27	36
Deferred revenue	309	178
Deferred income tax liability	5,186	4,287
Provision for reclamation	860	833
Total liabilities	25,528	23,144
Equity
Share capital	165,458	164,816
Share-based payments reserve	8,683	8,807
Warrants reserve	1,700	1,700
Accumulated deficit	(122,389)	(121,423)
Equity attributable to shareholders	53,452	53,900
Non-controlling interest	8,083	7,156
Total equity	61,535	61,056
Total equity and liabilities	$ 87,063	$ 84,200

Interim Condensed Consolidate_2

Interim Condensed Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Profit or loss [abstract]
Revenue	$ 9,404	$ 9,718
Cost of sales
Production costs	(4,508)	(3,518)
Royalty	(695)	(697)
Depreciation	(484)	(193)
Total cost of sales	(5,687)	(4,408)
Gross profit	3,717	5,310
General and administrative expenses	(2,211)	(1,837)
Change in fair value of derivative financial instruments	199	3,365
Foreign exchange losses	(80)	(7)
Interest and other expenses	(473)	(185)
Income before tax	1,152	6,646
Income tax expense	(1,191)	(1,486)
Net (loss) income and comprehensive (loss) income	(39)	5,160
Net (loss) income and comprehensive (loss) income attributable to:
Shareholders	(966)	3,512
Non-controlling interest	927	1,648
Net (loss) income and comprehensive (loss) income	$ (39)	$ 5,160
Basic (loss) earnings per share	$ 0	$ 0.01

Interim Condensed Consolidate_3

Interim Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Issued capital [member]	Reserve of share-based payments [member]	Reserve For Warrants [member]	Accumulated deficit [member]	Shareholders' equity [member]	Non-controlling interests [member]	Total
Beginning balance, value at Aug. 31, 2022	$ 163,946	$ 6,825	$ 1,700	$ (123,673)	$ 48,798	$ 2,361	$ 51,159
Balance, number (in shares) at Aug. 31, 2022	276,146,184
IfrsStatementLineItems [Line Items]
Shares issued for share-based payments	$ 227	(227)
Shares issued for share-based payments, (In Shares)	442,500
Share-based compensation expense		809			809		809
Witholding tax impact on RSUs		(94)			(94)		(94)
Net income for the period				3,512	3,512	1,648	5,160
Ending balance, value at Nov. 30, 2022	$ 164,173	7,313	1,700	(120,161)	53,025	4,009	57,034
Balance, number (in shares) at Nov. 30, 2022	276,588,684
IfrsStatementLineItems [Line Items]
Shares issued for share-based payments	$ 448	(452)			(4)		(4)
Shares issued for share-based payments, (In Shares)	681,014
Share-based compensation expense		1,888			1,888		1,888
Witholding tax impact on RSUs		148			148		148
Shares issued for cash, net of share issuance costs	$ 105				105		105
Shares issued for cash, net of share issuance costs, (In Shares)	200,000
Shares issued for cashless exercise of options	$ 90	(90)
Shares issued for cashless exercise of options, (In shares)	155,619
Net (loss) income for the period				(1,262)	(1,262)	3,147	1,885
Ending balance, value at Aug. 31, 2023	$ 164,816	8,807	1,700	(121,423)	53,900	7,156	61,056
Balance, number (in shares) at Aug. 31, 2023	277,625,317
IfrsStatementLineItems [Line Items]
Shares issued for share-based payments (Note 12)	$ 642	(632)			10		10
Shares issued for share-based payments, (In Shares)	1,465,417
Share-based compensation expense (Note 12)		865			865		865
Witholding tax impact on share-based payments		(357)			(357)		(357)
Net (loss) income for the period				(966)	(966)	927	(39)
Ending balance, value at Nov. 30, 2023	$ 165,458	$ 8,683	$ 1,700	$ (122,389)	$ 53,452	$ 8,083	$ 61,535
Balance, number (in shares) at Nov. 30, 2023	279,090,734

Interim Condensed Consolidate_4

Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Operating
Net (loss) income	$ (39)	$ 5,160
Adjustments for items not involving cash:
Non-cash items	2,955	(1,016)
Changes in non-cash working capital:
Decrease in amounts receivable	1,032	915
Increase in inventories	(343)	(125)
Decrease (increase) in prepaid and other assets	79	(14)
Increase in amounts payable and accrued liabilities	1,863	1,371
(Decrease) increase in income tax payable	(408)	357
Cash provided by operating activities	5,139	6,648
Investing
Purchase of mineral property, plant and equipment	(3,774)	(5,419)
Increase in other long-term assets	(286)	(617)
Cash used in investing activities	(4,060)	(6,036)
Financing
Withholding taxes on settlement of share-based payments	(357)	(94)
Lease payments	(24)	(64)
Cash used in financing activities	(381)	(158)
Net increase in cash	698	454
Cash at beginning of the period	7,629	8,476
Cash at end of the period	8,327	8,930
Taxes paid in cash	$ 700

Nature of operations

Nature of operations	3 Months Ended
	Nov. 30, 2023
Nature Of Operations
Nature of operations	1. Nature of operations TRX Gold Corporation (“TRX Gold” or the “Company”) was incorporated in the Province of Alberta on July 5, 1990 under the Business Corporations Act (Alberta). The Company’s principal business activity is the exploration, development and production of mineral property interests in the United Republic of Tanzania (“Tanzania”). The Company’s registered office is 400 3 rd The Company’s common shares are listed on the Toronto Stock Exchange in Canada (TSX: TNX) and NYSE American in the United States of America (NYSE American: TRX). The Company is primarily focused on development and mining operations, exploring, and evaluating its mineral properties. The business of exploring and mining for minerals involves a high degree of risk. The underlying value of the mineral properties is dependent upon the existence and economic recovery of mineral resources and reserves, the ability to raise long-term financing to complete the development of the properties, government policies and regulations, and upon future profitable production or, alternatively, upon the Company’s ability to dispose of its interest on an advantageous basis; all of which are uncertain.

Basis of preparation

Basis of preparation	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Basis of preparation	2. Basis of preparation a) Statement of compliance The Company’s interim condensed consolidated financial statements have been prepared in accordance with International Accounting Standards 34, Interim Financial Reporting These interim condensed consolidated financial statements were approved by the Board of Directors of the Company on January 11, 2024. b) Basis of presentation and measurement These interim condensed consolidated financial statements have been prepared on a going concern basis under the historical cost basis, except for certain financial assets and liabilities which are measured at fair value as disclosed in Note 17. All amounts in these interim condensed consolidated financial statements are presented in U.S. dollars with all amounts rounded to the nearest thousand, except for share and per share data, or as otherwise noted. Reference herein of $ or USD is to U.S. dollars and C$ or CAD is to Canadian dollars.

Significant accounting policies

Significant accounting policies, judgements and estimates	3 Months Ended
	Nov. 30, 2023
Significant Accounting Policies Judgements And Estimates
Significant accounting policies, judgements and estimates	3. Significant accounting policies, judgements and estimates The accounting policies, judgements and estimates applied in these interim condensed consolidated financial statements are consistent with those set out in Notes 3 and 4 of the Company’s annual consolidated financial statements for the year ended August 31, 2023, except as described below: Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2) In February 2021, the IASB issued amendments to IAS 1, Presentation of Financial Statements Making Materiality Judgements The amendments to IAS 1 and IFRS Practice Statement 2 were adopted on September 1, 2023 and did not have a material impact on the Company’s interim condensed consolidated financial statements. Definition of Accounting Estimates (Amendments to IAS 8) In February 2021, the IASB issued amendments to IAS 8, Accounting policies, changes in accounting estimates and errors The amendments to IAS 8 were adopted on September 1, 2023 and did not have a material impact on the Company’s interim condensed consolidated financial statements. Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12) In May 2021, the IASB issued amendments to IAS 12, Income Taxes The amendments to IAS 12 were adopted on September 1, 2023 and did not have a material impact on the Company’s interim condensed consolidated financial statements.

Amounts receivable

Amounts receivable	3 Months Ended
	Nov. 30, 2023
Amounts Receivable
Amounts receivable	4. Amounts receivable Schedule of receivables November 30, 2023 August 31, 2023 Receivable from precious metal sales $ — $ 488 Sales tax receivable (1) 5,221 5,554 Other 75 46 Other receivable 5,296 6,088 Less: Long-term portion (3,234 ) (2,948 ) Total amounts receivable $ 2,062 $ 3,140 (1) Sales tax receivables consist of harmonized services tax and value added tax ("VAT") due from Canadian and Tanzanian tax authorities, respectively. Tanzanian tax regulations allow for VAT receivable to be refunded or set-off against other taxes due to the Tanzania Revenue Authority ("TRA"). The Company has historically experienced delays in receiving payment or confirmation of offset against other taxes. The Company is in communication with the TRA and there is an expectation for either cash payments or offsetting of VAT receivable against other taxes in the future. VAT which the Company does not expect to recover within the next 12 months has been classified as long-term assets. The Company held no collateral for any receivables. During the three months ended November 30, 2023, the Company recovered $ 1.3

Prepayments and other assets

Prepayments and other assets	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Prepayments and other assets	5. Prepayments and other assets Schedule of prepayments and other assets November 30, 2023 August 31, 2023 Prepaid expenses $ 717 $ 796 Deferred financing costs (1) 667 667 Total prepayments and other assets $ 1,384 $ 1,463 (1) Consists of $0.5 million in commitment fees paid with respect to a share purchase agreement whereby the Company, at its sole discretion, has the right to sell up to $10 million of its common shares over a 36-month period and $0.2 million in deferred financing costs related to an At-the-Market Offering Agreement entered on May 12, 2023.

Inventories

Inventories	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Inventories	6. Inventories Schedule of inventory November 30, 2023 August 31, 2023 Ore stockpile $ 3,772 $ 3,361 Gold in circuit 614 689 Gold doré 25 52 Total precious metals inventories 4,411 4,102 Supplies 997 859 Total inventories $ 5,408 $ 4,961

Mineral property, plant and equ

Mineral property, plant and equipment	3 Months Ended
	Nov. 30, 2023
Mineral Property Plant And Equipment
Mineral property, plant and equipment	7. Mineral property, plant and equipment Schedule of mineral property, plant and equipment Exploration and evaluation expenditures (1) Mineral properties Processing plant and related infrastructure Machinery and equipment (2) Other (3) Total Cost As at August 31, 2023 $ 1,864 $ 41,202 $ 23,063 $ 1,624 $ 351 $ 68,104 Additions 91 813 2,282 2 — 3,188 As at November 30, 2023 $ 1,955 $ 42,015 $ 25,345 $ 1,626 $ 351 $ 71,292 Accumulated depreciation As at August 31, 2023 $ — $ 899 $ 2,138 $ 828 $ 180 $ 4,045 Depreciation — 476 52 57 14 599 As at November 30, 2023 $ — $ 1,375 $ 2,190 $ 885 $ 194 $ 4,644 Net book value As at August 31, 2023 $ 1,864 $ 40,303 $ 20,925 $ 796 $ 171 $ 64,059 As at November 30, 2023 $ 1,955 $ 40,640 $ 23,155 $ 741 $ 157 $ 66,648 (1) Represents exploration and evaluation expenditures related to the Eastern Porphyry and Anfield deposits on the Buckreef property. (2) Includes automotive and computer equipment and software. (3) Includes leasehold improvements and right-of-use assets.

Deferred revenue

Deferred revenue	3 Months Ended
	Nov. 30, 2023
Deferred Revenue
Deferred revenue	8. Deferred revenue On August 11, 2022, the Company entered into a $ 5 the Company fully settled $2.5 million drawn on the first tranche of the Agreement. 1 0.5 1 Schedule of deferred revenue liability Amount As at August 31, 2023 $ 1,727 Drawdown 1,500 Accretion of deferred revenue 112 Revenue recognized (922 ) As at November 30, 2023 $ 2,417 Schedule of deferred revenue November 30, 2023 August 31, 2023 Current portion of deferred revenue $ 2,108 $ 1,549 Deferred revenue 309 178 Balance at end of period $ 2,417 $ 1,727

Derivative financial instrument

Derivative financial instrument liabilities	3 Months Ended
	Nov. 30, 2023
Derivative Financial Instrument Liabilities
Derivative financial instrument liabilities	9. Derivative financial instrument liabilities Schedule of derivative financial instrument liabilities November 30, 2023 August 31, 2023 Derivative warrant liabilities $ 3,345 $ 3,544 Total derivative financial instrument liabilities $ 3,345 $ 3,544 a) Derivative warrant liabilities Schedule of derivative warrant liabilities Amount As at August 31, 2023 $ 3,544 Change in fair value (199 ) As at November 30, 2023 $ 3,345 Derivative warrant liabilities of $ 3.3 0.2 3.4 Fair values of derivative warrant liabilities were calculated using the Black-Scholes Option Pricing Model with the following assumptions: Schedule of assumptions fair value of derivative warrant liabilities November 30, 2023 August 31, 2023 Share price $ 0.40 $ 0.39 Risk-free interest rate 4.42 4.63 4.43 4.66 Dividend yield 0 % 0 % Expected volatility 51 % 52 % Remaining term (in years) 2.2 3.2 2.5 3.4 The fair value is classified as level 3 as expected volatilities is determined using adjusted historical volatilities and were therefore not an observable input. Sensitivity analysis If expected volatility, the significant unobservable input, had been higher or lower by 10% and all other variables were held constant, net loss and net assets for the three months ended November 30, 2023 would increase or decrease by: Schedule of net loss and net assets November 30, 2023 10% change in expected volatilities Increase Decrease (Loss) income $ (814 ) $ 786

Income tax

Income tax	3 Months Ended
	Nov. 30, 2023
Income Tax
Income tax	10. Income tax Income tax expense is recognized based on management’s estimate of the weighted average annual income tax rate expected for the full financial year. The maximum amount of tax losses that a business can utilize in Tanzania is 70% of its taxable profit for the current year. The remaining 30% of taxable profit is subject to a statutory tax rate of 30%. As a result, Buckreef’s current income tax is calculated at an effective tax rate of 9% until Buckreef’s tax loss carryforwards are fully utilized. Tax losses in Tanzania can only be utilized by the entity to which the tax losses relate to. The carrying value of Buckreef’s Mineral Property, Plant and Equipment is higher than their tax written down values due to historical mining incentives in Tanzania and accelerated depreciation for tax purposes. The taxable temporary difference between the carrying value of Mineral Property, Plant and Equipment and its tax basis in excess of available tax loss carryforwards resulted in a deferred tax liability. For the three months ended November 30, 2023, the Company recorded income tax expense of $ 1.2 0.3 0.9 1.5 0.4 1.1

(Loss) earnings per share

(Loss) earnings per share	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
(Loss) earnings per share	11. (Loss) earnings per share Schedule of (loss) earnings per share Three months ended November 30, 2023 2022 Net (loss) income attributable to shareholders $ (966 ) $ 3,512 Weighted average number of common shares for basic EPS (1) 285,283,429 276,477,860 Effect of dilutive stock options, warrants, RSUs and share awards — 1,221,178 Weighted average number of common shares for diluted EPS (1) 285,283,429 277,699,038 (1) The weighted average number of common shares for basic and diluted EPS include 6.3 million gross number of vested, but unissued, common shares relating to common share awards. For the three months ended November 30, 2023, the weighted average number of common shares for diluted EPS excluded 15.4 2.8 4.6 39.0 7.4 42

Share-based payments reserve

Share-based payments reserve	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Share-based payments reserve	12. Share-based payments reserve Share-based compensation expense for the three months ended November 30, 2023 totalled $ 0.9 0.8 As at November 30, 2023, the Company had 5,225,271 3,617,450 a) Stock options Canadian Dollars denominated stock options Schedule of continuity of outstanding stock options Number of stock options Weighted average exercise price per share Balance – November 30, 2023 and August 31, 2023 4,986,000 CAD $ 0.41 Options to purchase common shares carry exercise prices and terms to maturity as follows: Schedule of options to purchase common shares carry exercise prices and terms to maturity Remaining Number of options Expiry contractual Exercise price Outstanding Exercisable Date life (years) C$ 0.40 2,259,000 2,259,000 October 11, 2026 2.9 C$ 0.40 95,000 95,000 October 6, 2024 0.9 C$ 0.43 2,065,000 2,065,000 September 29, 2026 2.8 C$ 0.43 467,000 467,000 October 6, 2024 0.9 C$ 0.35 100,000 100,000 January 2, 2027 3.1 C$ 0.41 (1) 4,986,000 4,986,000 2.6 (1) (1) Total represents weighted average. US Dollars denominated stock options Schedule of outstanding stock option Number of stock options Weighted average exercise price per share Balance – November 30, 2023 and August 31, 2023 10,450,000 $ 0.49 Options to purchase common shares carry exercise prices and terms to maturity as follows: Schedule of options to purchase common shares exercise prices Remaining Number of options Expiry contractual Exercise price Outstanding Exercisable Date life (years) USD $ 0.50 7,375,000 2,950,000 August 17, 2027 3.7 USD $ 0.45 3,075,000 615,000 August 28, 2028 4.8 USD $ 0.49 (1) 10,450,000 3,565,000 4.0 (1) For the three months ended November 30, 2023, share-based compensation expense related to stock options totalled $ 0.2 0.1 b) Restricted Share Units: The following table sets out activity with respect to outstanding RSUs: Schedule of restricted stock outstanding Number of RSUs Balance – August 31, 2023 3,473,077 Vested (700,000 ) Balance – November 30, 2023 2,773,077 For the three months ended November 30, 2023, share-based payment expenses related to RSUs totalled $ 0.5 0.2

Warrants reserve

Warrants reserve	3 Months Ended
	Nov. 30, 2023
Warrants Reserve
Warrants reserve	13. Warrants reserve Schedule of reserve for warrants Number of warrants Weighted average exercise price per share Weighted average remaining contractual life (years) Balance – August 31, 2023 38,968,037 $ 0.68 2.8 Balance – November 30, 2023 38,968,037 $ 0.68 2.5 As at November 30, 2023, the following warrants were outstanding: Schedule of warrants and compensation warrants Number of Exercise price Expiry date Private placement financing warrants - December 23, 2020 2,777,268 $ 1.50 December 23, 2023 Private placement financing warrants - February 11, 2021 16,461,539 $ 0.80 February 11, 2026 Private placement financing broker warrants - February 11, 2021 1,152,307 $ 0.80 February 11, 2026 Private placement financing warrants – January 26, 2022 17,948,718 $ 0.44 January 26, 2027 Private placement financing placement agent warrants – January 26, 2022 628,205 $ 0.44 January 26, 2027 Balance – November 30, 2023 38,968,037 $ 0.68 (1) (1) Total represents weighted average.

Non-controlling interest

Non-controlling interest	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Non-controlling interest	14. Non-controlling interest Summarized financial information for Buckreef is disclosed below: Schedule of summarized financial information Three months ended November 30, Income Statement 2023 2022 Revenue $ 9,404 $ 9,718 Depreciation 484 193 Accretion expense 140 163 Income tax expense 1,191 1,486 Comprehensive income for the period 2,061 3,662 Statement of Financial Position November 30, 2023 August 31, 2023 Current assets $ 11,542 $ 11,238 Non-current assets 67,696 64,762 Current liabilities (13,248 ) (12,113 ) Non-current liabilities (6,354 ) (5,301 ) Advances from parent, net (34,971 ) (36,049 ) Three months ended November 30, Statement of Cash Flows 2023 2022 Cash provided by operating activities $ 6,110 $ 8,005 Cash used in investing activities (4,057 ) (6,209 ) Cash used in financing activities (1,089 ) (48 )

Related party transactions

Related party transactions	3 Months Ended
	Nov. 30, 2023
Related party transactions [abstract]
Related party transactions	15. Related party transactions Related parties include the Board of Directors and officers, extended relatives and enterprises that are controlled by these individuals as well as certain consultants performing similar functions. Remuneration of Directors and key management personnel of the Company was as follows: Schedule of related parties compensation Three months ended November 30, Directors and key management personnel 2023 2022 Remuneration (1) $ 436 $ 459 Share-based compensation expense 693 714 Total directors and key management personnel $ 1,129 $ 1,173 (1) Remuneration includes salaries and benefits for certain key management personnel and director fees. Certain members of the board of directors have employment or service contracts with the Company. Directors are entitled to director fees and share-based compensation for their services and officers are entitled to cash remuneration and share-based compensation for their employment services. As at November 30, 2023, included in amounts payable is $ 0.1 0.4 During the three months ended November 30, 2023, $ 0.2 0.1 0.3 0.2 During the three months ended November 30, 2023, $ 0.2 0.8

General and administrative expe

General and administrative expenses	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
General and administrative expenses	16. General and administrative expenses Schedule of general and administrative expense Three months ended November 30, 2023 2022 Directors’ fees (Note 15) $ 60 $ 107 Insurance 85 99 Office and general 67 19 Shareholder information 158 128 Professional fees 189 101 Salaries and benefits (Note 15) 558 484 Consulting 177 51 Share-based compensation expense (Notes 12 and 15) 810 753 Travel and accommodation 78 47 Depreciation 13 40 Other 16 8 Total general and administrative expenses $ 2,211 $ 1,837

Financial instruments

Financial instruments	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Financial instruments	17. Financial instruments Fair value of financial instruments The following table sets out the classification of the Company’s financial instruments as at November 30, 2023 and August 31, 2023: Schedule of financial instruments November 30, 2023 August 31, 2023 Financial Assets Measured at amortized cost Amounts receivable $ 2,062 $ 3,140 Measured at fair value through profit or loss Cash 8,327 7,629 Financial Liabilities Measured at amortized cost Amounts payables and accrued liabilities 12,972 11,571 Measured at fair value through profit or loss Derivative financial instrument liabilities 3,345 3,544 Fair value estimates are made at a specific point in time based on relevant market information and information about financial instruments. These estimates are subject to and involve uncertainties and matters of significant judgment, and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. The Company classifies its financial instruments carried at fair value according to a three-level hierarchy that reflects the significance of the inputs used in making the fair value measurements. The three levels of fair value hierarchy, giving the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs, are as follows: · Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities; · Level 2 – Inputs other than quoted prices that are observable for assets and liabilities, either directly or indirectly; and · Level 3 – Inputs for assets or liabilities that are not based on observable market data. As at November 30, 2023 and August 31, 2023, cash was classified as Level 1 and derivative financial instruments (Note 9) were classified as Level 3 under the fair value hierarchy.

Segmented information

Segmented information	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Segmented information	18. Segmented information Operating segments The Company’s Chief Operating Decision Maker, its Chief Executive Officer, reviews the operating results, assesses the performance and makes capital allocation decisions of the Company viewed as a single operating segment engaged in mineral exploration and development in Tanzania. All amounts disclosed in the interim condensed consolidated financial statements represent this single reporting segment. The Company’s corporate division only earns interest revenue that is considered incidental to the activities of the Company and does not meet the definition of an operating segment as defined in IFRS 8, Operating Segments Geographic segments The Company is in the business of mineral exploration and production in Tanzania. Information regarding the Company’s geographic locations are as follows: Schedule of revenue Three months ended November 30, Revenue 2023 2022 Tanzania $ 9,404 $ 9,718 Total revenue $ 9,404 $ 9,718 During the three months ended November 30, 2023, the Company generated 90 100 8.5 9.7 Schedule of non-current assets Non-current assets November 30, 2023 August 31, 2023 Canada $ 52 $ 55 Tanzania 69,830 66,952 Total non-current assets $ 69,882 $ 67,007

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Commitments and contingencies	19. Commitments and contingencies Commitments: In order to maintain its existing mining and exploration licenses, the Company is required to pay annual license fees. As at November 30, 2023 and August 31, 2023, these licenses remained in good standing and the Company is up to date on its license payments. Contingencies: The Company is involved in litigation and disputes arising in the normal course of operations. Management is of the opinion that the outcome of any potential litigation will not have a material adverse impact on the Company’s financial position or results of operations. Accordingly, no provisions for the settlement of outstanding litigation and potential claims have been accrued as at November 30, 2023 and August 31, 2023.

Non-cash items

Non-cash items	3 Months Ended
	Nov. 30, 2023
Non-cash Items
Non-cash items	20. Non-cash items Schedule of non-cash items Three months ended November 30, 2023 2022 Depreciation $ 497 $ 233 Change in fair value of derivative financial instruments (Note 9) (199 ) (3,365 ) Share-based compensation expense (Note 12) 875 809 Accretion of provision for reclamation 27 35 Deferred income tax expense (Note 10) 899 1,129 Accretion of lease liabilities 1 5 Deferred revenue (Note 8) 578 — Accretion of deferred revenue (Note 8) 112 127 Foreign exchange losses (gains) 165 (4 ) Other expenses — 15 Total non-cash items $ 2,955 $ (1,016 )

Subsequent event

Subsequent event	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Subsequent event	21. Subsequent event In December 2023, the Company entered into a series of gold zero-cost collar contracts for 600 gold ounces per month for a total of 3,000 gold ounces to be settled from January 2024 to May 2024, at a maximum and minimum gold price of $2,150 and $1,850 per gold ounce, respectively.

Amounts receivable (Tables)

Amounts receivable (Tables)	3 Months Ended
	Nov. 30, 2023
Amounts Receivable
Schedule of receivables	Schedule of receivables November 30, 2023 August 31, 2023 Receivable from precious metal sales $ — $ 488 Sales tax receivable (1) 5,221 5,554 Other 75 46 Other receivable 5,296 6,088 Less: Long-term portion (3,234 ) (2,948 ) Total amounts receivable $ 2,062 $ 3,140 (1) Sales tax receivables consist of harmonized services tax and value added tax ("VAT") due from Canadian and Tanzanian tax authorities, respectively. Tanzanian tax regulations allow for VAT receivable to be refunded or set-off against other taxes due to the Tanzania Revenue Authority ("TRA"). The Company has historically experienced delays in receiving payment or confirmation of offset against other taxes. The Company is in communication with the TRA and there is an expectation for either cash payments or offsetting of VAT receivable against other taxes in the future. VAT which the Company does not expect to recover within the next 12 months has been classified as long-term assets.

Prepayments and other assets (T

Prepayments and other assets (Tables)	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Schedule of prepayments and other assets	Schedule of prepayments and other assets November 30, 2023 August 31, 2023 Prepaid expenses $ 717 $ 796 Deferred financing costs (1) 667 667 Total prepayments and other assets $ 1,384 $ 1,463 (1) Consists of $0.5 million in commitment fees paid with respect to a share purchase agreement whereby the Company, at its sole discretion, has the right to sell up to $10 million of its common shares over a 36-month period and $0.2 million in deferred financing costs related to an At-the-Market Offering Agreement entered on May 12, 2023.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Schedule of inventory	Schedule of inventory November 30, 2023 August 31, 2023 Ore stockpile $ 3,772 $ 3,361 Gold in circuit 614 689 Gold doré 25 52 Total precious metals inventories 4,411 4,102 Supplies 997 859 Total inventories $ 5,408 $ 4,961

Mineral property, plant and e_2

Mineral property, plant and equipment (Tables)	3 Months Ended
	Nov. 30, 2023
Mineral Property Plant And Equipment
Schedule of mineral property, plant and equipment	Schedule of mineral property, plant and equipment Exploration and evaluation expenditures (1) Mineral properties Processing plant and related infrastructure Machinery and equipment (2) Other (3) Total Cost As at August 31, 2023 $ 1,864 $ 41,202 $ 23,063 $ 1,624 $ 351 $ 68,104 Additions 91 813 2,282 2 — 3,188 As at November 30, 2023 $ 1,955 $ 42,015 $ 25,345 $ 1,626 $ 351 $ 71,292 Accumulated depreciation As at August 31, 2023 $ — $ 899 $ 2,138 $ 828 $ 180 $ 4,045 Depreciation — 476 52 57 14 599 As at November 30, 2023 $ — $ 1,375 $ 2,190 $ 885 $ 194 $ 4,644 Net book value As at August 31, 2023 $ 1,864 $ 40,303 $ 20,925 $ 796 $ 171 $ 64,059 As at November 30, 2023 $ 1,955 $ 40,640 $ 23,155 $ 741 $ 157 $ 66,648 (1) Represents exploration and evaluation expenditures related to the Eastern Porphyry and Anfield deposits on the Buckreef property. (2) Includes automotive and computer equipment and software. (3) Includes leasehold improvements and right-of-use assets.

Deferred revenue (Tables)

Deferred revenue (Tables)	3 Months Ended
	Nov. 30, 2023
Deferred Revenue
Schedule of deferred revenue liability	Schedule of deferred revenue liability Amount As at August 31, 2023 $ 1,727 Drawdown 1,500 Accretion of deferred revenue 112 Revenue recognized (922 ) As at November 30, 2023 $ 2,417
Schedule of deferred revenue	Schedule of deferred revenue November 30, 2023 August 31, 2023 Current portion of deferred revenue $ 2,108 $ 1,549 Deferred revenue 309 178 Balance at end of period $ 2,417 $ 1,727

Derivative financial instrume_2

Derivative financial instrument liabilities (Tables)	3 Months Ended
	Nov. 30, 2023
Derivative Financial Instrument Liabilities
Schedule of derivative financial instrument liabilities	Schedule of derivative financial instrument liabilities November 30, 2023 August 31, 2023 Derivative warrant liabilities $ 3,345 $ 3,544 Total derivative financial instrument liabilities $ 3,345 $ 3,544
Schedule of derivative warrant liabilities	Schedule of derivative warrant liabilities Amount As at August 31, 2023 $ 3,544 Change in fair value (199 ) As at November 30, 2023 $ 3,345
Schedule of assumptions fair value of derivative warrant liabilities	Schedule of assumptions fair value of derivative warrant liabilities November 30, 2023 August 31, 2023 Share price $ 0.40 $ 0.39 Risk-free interest rate 4.42 4.63 4.43 4.66 Dividend yield 0 % 0 % Expected volatility 51 % 52 % Remaining term (in years) 2.2 3.2 2.5 3.4
Schedule of net loss and net assets	Schedule of net loss and net assets November 30, 2023 10% change in expected volatilities Increase Decrease (Loss) income $ (814 ) $ 786

(Loss) earnings per share (Tabl

(Loss) earnings per share (Tables)	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Schedule of (loss) earnings per share	Schedule of (loss) earnings per share Three months ended November 30, 2023 2022 Net (loss) income attributable to shareholders $ (966 ) $ 3,512 Weighted average number of common shares for basic EPS (1) 285,283,429 276,477,860 Effect of dilutive stock options, warrants, RSUs and share awards — 1,221,178 Weighted average number of common shares for diluted EPS (1) 285,283,429 277,699,038 (1) The weighted average number of common shares for basic and diluted EPS include 6.3 million gross number of vested, but unissued, common shares relating to common share awards.

Share-based payments reserve (T

Share-based payments reserve (Tables)	3 Months Ended
	Nov. 30, 2023
IfrsStatementLineItems [Line Items]
Schedule of restricted stock outstanding	Schedule of restricted stock outstanding Number of RSUs Balance – August 31, 2023 3,473,077 Vested (700,000 ) Balance – November 30, 2023 2,773,077
Stock options [member]
IfrsStatementLineItems [Line Items]
Schedule of continuity of outstanding stock options	Schedule of continuity of outstanding stock options Number of stock options Weighted average exercise price per share Balance – November 30, 2023 and August 31, 2023 4,986,000 CAD $ 0.41
Schedule of options to purchase common shares exercise prices	Schedule of options to purchase common shares carry exercise prices and terms to maturity Remaining Number of options Expiry contractual Exercise price Outstanding Exercisable Date life (years) C$ 0.40 2,259,000 2,259,000 October 11, 2026 2.9 C$ 0.40 95,000 95,000 October 6, 2024 0.9 C$ 0.43 2,065,000 2,065,000 September 29, 2026 2.8 C$ 0.43 467,000 467,000 October 6, 2024 0.9 C$ 0.35 100,000 100,000 January 2, 2027 3.1 C$ 0.41 (1) 4,986,000 4,986,000 2.6 (1) (1) Total represents weighted average.
US Dollars denominated stock options [member]
IfrsStatementLineItems [Line Items]
Schedule of options to purchase common shares exercise prices	Schedule of options to purchase common shares exercise prices Remaining Number of options Expiry contractual Exercise price Outstanding Exercisable Date life (years) USD $ 0.50 7,375,000 2,950,000 August 17, 2027 3.7 USD $ 0.45 3,075,000 615,000 August 28, 2028 4.8 USD $ 0.49 (1) 10,450,000 3,565,000 4.0 (1)
Schedule of outstanding stock option	Schedule of outstanding stock option Number of stock options Weighted average exercise price per share Balance – November 30, 2023 and August 31, 2023 10,450,000 $ 0.49

Warrants reserve (Tables)

Warrants reserve (Tables)	3 Months Ended
	Nov. 30, 2023
Warrants Reserve
Schedule of reserve for warrants	Schedule of reserve for warrants Number of warrants Weighted average exercise price per share Weighted average remaining contractual life (years) Balance – August 31, 2023 38,968,037 $ 0.68 2.8 Balance – November 30, 2023 38,968,037 $ 0.68 2.5
Schedule of warrants and compensation warrants	Schedule of warrants and compensation warrants Number of Exercise price Expiry date Private placement financing warrants - December 23, 2020 2,777,268 $ 1.50 December 23, 2023 Private placement financing warrants - February 11, 2021 16,461,539 $ 0.80 February 11, 2026 Private placement financing broker warrants - February 11, 2021 1,152,307 $ 0.80 February 11, 2026 Private placement financing warrants – January 26, 2022 17,948,718 $ 0.44 January 26, 2027 Private placement financing placement agent warrants – January 26, 2022 628,205 $ 0.44 January 26, 2027 Balance – November 30, 2023 38,968,037 $ 0.68 (1) (1) Total represents weighted average.

Non-controlling interest (Table

Non-controlling interest (Tables)	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Schedule of summarized financial information	Schedule of summarized financial information Three months ended November 30, Income Statement 2023 2022 Revenue $ 9,404 $ 9,718 Depreciation 484 193 Accretion expense 140 163 Income tax expense 1,191 1,486 Comprehensive income for the period 2,061 3,662 Statement of Financial Position November 30, 2023 August 31, 2023 Current assets $ 11,542 $ 11,238 Non-current assets 67,696 64,762 Current liabilities (13,248 ) (12,113 ) Non-current liabilities (6,354 ) (5,301 ) Advances from parent, net (34,971 ) (36,049 ) Three months ended November 30, Statement of Cash Flows 2023 2022 Cash provided by operating activities $ 6,110 $ 8,005 Cash used in investing activities (4,057 ) (6,209 ) Cash used in financing activities (1,089 ) (48 )

Related party transactions (Tab

Related party transactions (Tables)	3 Months Ended
	Nov. 30, 2023
Related party transactions [abstract]
Schedule of related parties compensation	Schedule of related parties compensation Three months ended November 30, Directors and key management personnel 2023 2022 Remuneration (1) $ 436 $ 459 Share-based compensation expense 693 714 Total directors and key management personnel $ 1,129 $ 1,173 (1) Remuneration includes salaries and benefits for certain key management personnel and director fees. Certain members of the board of directors have employment or service contracts with the Company. Directors are entitled to director fees and share-based compensation for their services and officers are entitled to cash remuneration and share-based compensation for their employment services.

General and administrative ex_2

General and administrative expenses (Tables)	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Schedule of general and administrative expense	Schedule of general and administrative expense Three months ended November 30, 2023 2022 Directors’ fees (Note 15) $ 60 $ 107 Insurance 85 99 Office and general 67 19 Shareholder information 158 128 Professional fees 189 101 Salaries and benefits (Note 15) 558 484 Consulting 177 51 Share-based compensation expense (Notes 12 and 15) 810 753 Travel and accommodation 78 47 Depreciation 13 40 Other 16 8 Total general and administrative expenses $ 2,211 $ 1,837

Financial instruments (Tables)

Financial instruments (Tables)	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Schedule of financial instruments	Schedule of financial instruments November 30, 2023 August 31, 2023 Financial Assets Measured at amortized cost Amounts receivable $ 2,062 $ 3,140 Measured at fair value through profit or loss Cash 8,327 7,629 Financial Liabilities Measured at amortized cost Amounts payables and accrued liabilities 12,972 11,571 Measured at fair value through profit or loss Derivative financial instrument liabilities 3,345 3,544

Segmented information (Tables)

Segmented information (Tables)	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Schedule of revenue	Schedule of revenue Three months ended November 30, Revenue 2023 2022 Tanzania $ 9,404 $ 9,718 Total revenue $ 9,404 $ 9,718
Schedule of non-current assets	Schedule of non-current assets Non-current assets November 30, 2023 August 31, 2023 Canada $ 52 $ 55 Tanzania 69,830 66,952 Total non-current assets $ 69,882 $ 67,007

Non-cash items (Tables)

Non-cash items (Tables)	3 Months Ended
	Nov. 30, 2023
Non-cash Items
Schedule of non-cash items	Schedule of non-cash items Three months ended November 30, 2023 2022 Depreciation $ 497 $ 233 Change in fair value of derivative financial instruments (Note 9) (199 ) (3,365 ) Share-based compensation expense (Note 12) 875 809 Accretion of provision for reclamation 27 35 Deferred income tax expense (Note 10) 899 1,129 Accretion of lease liabilities 1 5 Deferred revenue (Note 8) 578 — Accretion of deferred revenue (Note 8) 112 127 Foreign exchange losses (gains) 165 (4 ) Other expenses — 15 Total non-cash items $ 2,955 $ (1,016 )

Amounts receivable (Details)

Amounts receivable (Details) - USD ($) $ in Thousands		Nov. 30, 2023	Aug. 31, 2023
Amounts Receivable
Receivable from precious metal sales			$ 488
Sales tax receivable	[1]	5,221	5,554
Other		75	46
Other receivable		5,296	6,088
Less: Long-term portion		(3,234)	(2,948)
Total amounts receivable		$ 2,062	$ 3,140
[1]Sales tax receivables consist of harmonized services tax and value added tax ("VAT") due from Canadian and Tanzanian tax authorities, respectively. Tanzanian tax regulations allow for VAT receivable to be refunded or set-off against other taxes due to the Tanzania Revenue Authority ("TRA"). The Company has historically experienced delays in receiving payment or confirmation of offset against other taxes. The Company is in communication with the TRA and there is an expectation for either cash payments or offsetting of VAT receivable against other taxes in the future. VAT which the Company does not expect to recover within the next 12 months has been classified as long-term assets.

Amounts receivable (Details Nar

Amounts receivable (Details Narrative) $ in Millions	Nov. 30, 2023 USD ($)
TRA [member]
IfrsStatementLineItems [Line Items]
VAT refunds	$ 1.3

Prepayments and other assets (D

Prepayments and other assets (Details) - USD ($) $ in Thousands		Nov. 30, 2023	Aug. 31, 2023
Notes and other explanatory information [abstract]
Prepaid expenses		$ 717	$ 796
Deferred financing costs	[1]	667	667
Total prepayments and other assets		$ 1,384	$ 1,463
[1]Consists of $0.5 million in commitment fees paid with respect to a share purchase agreement whereby the Company, at its sole discretion, has the right to sell up to $10 million of its common shares over a 36-month period and $0.2 million in deferred financing costs related to an At-the-Market Offering Agreement entered on May 12, 2023.

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Aug. 31, 2023
Notes and other explanatory information [abstract]
Ore stockpile	$ 3,772	$ 3,361
Gold in circuit	614	689
Gold doré	25	52
Total precious metals inventories	4,411	4,102
Supplies	997	859
Total inventories	$ 5,408	$ 4,961

Mineral property, plant and e_3

Mineral property, plant and equipment (Details) - USD ($) $ in Thousands		3 Months Ended
		Nov. 30, 2023	Aug. 31, 2023
IfrsStatementLineItems [Line Items]
Net book value		$ 66,648	$ 64,059
Exploration and evaluation expenditures [member]
IfrsStatementLineItems [Line Items]
Net book value	[1]	1,955	1,864
Mining property [member]
IfrsStatementLineItems [Line Items]
Net book value		40,640	40,303
Processing plant and related infrastructure [member]
IfrsStatementLineItems [Line Items]
Net book value		23,155	20,925
Machinery [member]
IfrsStatementLineItems [Line Items]
Net book value	[2]	741	796
Other [member]
IfrsStatementLineItems [Line Items]
Net book value	[3]	157	171
Total [member]
IfrsStatementLineItems [Line Items]
Net book value		66,648	$ 64,059
Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Cost beginning balance		68,104
Additions		3,188
Cost ending balance		71,292
Gross carrying amount [member] | Exploration and evaluation expenditures [member]
IfrsStatementLineItems [Line Items]
Cost beginning balance	[1]	1,864
Additions	[1]	91
Cost ending balance	[1]	1,955
Gross carrying amount [member] | Mining property [member]
IfrsStatementLineItems [Line Items]
Cost beginning balance		41,202
Additions		813
Cost ending balance		42,015
Gross carrying amount [member] | Processing plant and related infrastructure [member]
IfrsStatementLineItems [Line Items]
Cost beginning balance		23,063
Additions		2,282
Cost ending balance		25,345
Gross carrying amount [member] | Machinery [member]
IfrsStatementLineItems [Line Items]
Cost beginning balance	[2]	1,624
Additions	[2]	2
Cost ending balance	[2]	1,626
Gross carrying amount [member] | Other [member]
IfrsStatementLineItems [Line Items]
Cost beginning balance	[3]	351
Additions	[3]
Cost ending balance	[3]	351
Accumulated depreciation and amortisation [member]
IfrsStatementLineItems [Line Items]
Cost beginning balance		4,045
Additions		599
Cost ending balance		4,644
Accumulated depreciation and amortisation [member] | Exploration and evaluation expenditures [member]
IfrsStatementLineItems [Line Items]
Cost beginning balance	[1]
Additions	[1]
Cost ending balance	[1]
Accumulated depreciation and amortisation [member] | Mining property [member]
IfrsStatementLineItems [Line Items]
Cost beginning balance		899
Additions		476
Cost ending balance		1,375
Accumulated depreciation and amortisation [member] | Processing plant and related infrastructure [member]
IfrsStatementLineItems [Line Items]
Cost beginning balance		2,138
Additions		52
Cost ending balance		2,190
Accumulated depreciation and amortisation [member] | Machinery [member]
IfrsStatementLineItems [Line Items]
Cost beginning balance	[2]	828
Additions	[2]	57
Cost ending balance	[2]	885
Accumulated depreciation and amortisation [member] | Other [member]
IfrsStatementLineItems [Line Items]
Cost beginning balance	[3]	180
Additions	[3]	14
Cost ending balance	[3]	$ 194
[1]Represents exploration and evaluation expenditures related to the Eastern Porphyry and Anfield deposits on the Buckreef property.[2]Includes automotive and computer equipment and software.[3]Includes leasehold improvements and right-of-use assets.

Deferred revenue (Details)

Deferred revenue (Details) $ in Thousands	3 Months Ended
	Nov. 30, 2023 USD ($)
Deferred Revenue
Deferred revenue, beginning	$ 1,727
Drawdown	1,500
Accretion of deferred revenue	112
Revenue recognized	(922)
Deferred revenue, ending	$ 2,417

Deferred revenue (Details 1)

Deferred revenue (Details 1) - USD ($) $ in Thousands	Nov. 30, 2023	Aug. 31, 2023
Deferred Revenue
Current portion of deferred revenue	$ 2,108	$ 1,549
Deferred revenue	309	178
Balance at end of period	$ 2,417	$ 1,727

Deferred revenue (Details Narra

Deferred revenue (Details Narrative) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2023	Nov. 29, 2023	Sep. 26, 2023	Jul. 11, 2023	Aug. 11, 2022
IfrsStatementLineItems [Line Items]
Deferred revenue description	the Company fully settled $2.5 million drawn on the first tranche of the Agreement.
Deferred revenue undrawn		$ 1	$ 0.5	$ 1
Purchase agreement [member]
IfrsStatementLineItems [Line Items]
Prepaid gold dore					$ 5

Derivative financial instrume_3

Derivative financial instrument liabilities (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Aug. 31, 2023
Derivative Financial Instrument Liabilities
Derivative warrant liabilities	$ 3,345	$ 3,544
Total derivative financial instrument liabilities	$ 3,345	$ 3,544

Derivative financial instrume_4

Derivative financial instrument liabilities (Details 1) - Derivative Warrant Liabilities [Member] $ in Thousands	3 Months Ended
	Nov. 30, 2023 USD ($)
IfrsStatementLineItems [Line Items]
Beginning balance at derivative warrant liabilities	$ 3,544
Change in fair value	(199)
Ending balance at derivative warrant liabilities	$ 3,345

Derivative financial instrume_5

Derivative financial instrument liabilities (Details 2) - Derivative Warrant Liabilities [Member] - $ / shares	3 Months Ended	12 Months Ended
	Nov. 30, 2023	Aug. 31, 2023
IfrsStatementLineItems [Line Items]
Share price	$ 0.40	$ 0.39
Dividend yield	0%	0%
Expected volatility	51%	52%
Bottom of range [member]
IfrsStatementLineItems [Line Items]
Risk-free interest rate	4.42%	4.43%
Remaining term (in years)	2 years 2 months 12 days	2 years 6 months
Top of range [member]
IfrsStatementLineItems [Line Items]
Risk-free interest rate	4.63%	4.66%
Remaining term (in years)	3 years 2 months 12 days	3 years 4 months 24 days

Derivative financial instrume_6

Derivative financial instrument liabilities (Details 3) $ in Thousands	3 Months Ended
	Nov. 30, 2023 USD ($)
Derivative Financial Instrument Liabilities
Increase loss income	$ (814)
Decrease loss income	$ 786

Derivative financial instrume_7

Derivative financial instrument liabilities (Details Narrative) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Derivative Financial Instrument Liabilities
Derivative warrant liabilities	$ 3.3
Gain on fair value	$ 0.2	$ 3.4

Income tax (Details Narrative)

Income tax (Details Narrative) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Income Tax
Income tax expenses	$ 1.2	$ 1.5
Current income tax expense	0.3	0.4
Deferred income tax expense	$ 0.9	$ 1.1

(Loss) earnings per share (Deta

(Loss) earnings per share (Details) - USD ($) $ in Thousands		3 Months Ended
		Nov. 30, 2023	Nov. 30, 2022
Notes and other explanatory information [abstract]
Net (loss) income attributable to shareholders		$ (966)	$ 3,512
Weighted average number of common shares for basic EPS	[1]	285,283,429	276,477,860
Effect of dilutive stock options, warrants, RSUs and share awards			1,221,178
Weighted average number of common shares for diluted EPS	[1]	285,283,429	277,699,038
[1]The weighted average number of common shares for basic and diluted EPS include 6.3 million gross number of vested, but unissued, common shares relating to common share awards.

(Loss) earnings per share (De_2

(Loss) earnings per share (Details Narrative) - shares shares in Millions	3 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Stock options [member]
IfrsStatementLineItems [Line Items]
Weighted average number of common shares	15.4	7.4
RSUs [member]
IfrsStatementLineItems [Line Items]
Weighted average number of common shares	2.8
Common share awards [member]
IfrsStatementLineItems [Line Items]
Weighted average number of common shares	4.6
Warrants [member]
IfrsStatementLineItems [Line Items]
Weighted average number of common shares	39	42

Share-based payments reserve (D

Share-based payments reserve (Details) - Canadian dollars denominated stock options [member]	Nov. 30, 2023 shares $ / shares	Aug. 31, 2023 shares $ / shares
IfrsStatementLineItems [Line Items]
Number of shares outstanding | shares	4,986,000	4,986,000
Weighted average exercise price | $ / shares	$ 0.41	$ 0.41

Share-based payments reserve _2

Share-based payments reserve (Details 1) - Stock options [member]	3 Months Ended
	Nov. 30, 2023 shares $ / shares
IfrsStatementLineItems [Line Items]
Exercise price | $ / shares	$ 0.41	[1]
Number of options outstanding	4,986,000
Number of options exercisable	4,986,000
Remaining contractual life	2 years 7 months 6 days	[1]
Range 1 [member]
IfrsStatementLineItems [Line Items]
Exercise price | $ / shares	$ 0.40
Number of options outstanding	2,259,000
Number of options exercisable	2,259,000
Expiry date	Oct. 11, 2026
Remaining contractual life	2 years 10 months 24 days
Range 2 [member]
IfrsStatementLineItems [Line Items]
Exercise price | $ / shares	$ 0.40
Number of options outstanding	95,000
Number of options exercisable	95,000
Expiry date	Oct. 06, 2024
Remaining contractual life	10 months 24 days
Range 3 [member]
IfrsStatementLineItems [Line Items]
Exercise price | $ / shares	$ 0.43
Number of options outstanding	2,065,000
Number of options exercisable	2,065,000
Expiry date	Sep. 29, 2026
Remaining contractual life	2 years 9 months 18 days
Range 4 [member]
IfrsStatementLineItems [Line Items]
Exercise price | $ / shares	$ 0.43
Number of options outstanding	467,000
Number of options exercisable	467,000
Expiry date	Oct. 06, 2024
Remaining contractual life	10 months 24 days
Range 5 [member]
IfrsStatementLineItems [Line Items]
Exercise price | $ / shares	$ 0.35
Number of options outstanding	100,000
Number of options exercisable	100,000
Expiry date	Jan. 02, 2027
Remaining contractual life	3 years 1 month 6 days
[1]Total represents weighted average.

Share-based payments reserve _3

Share-based payments reserve (Details 2) - US Dollars denominated stock options [member]	Nov. 30, 2023 USD ($) $ / shares	Aug. 31, 2023 USD ($) $ / shares
IfrsStatementLineItems [Line Items]
Number of stock options | $	10,450,000	10,450,000
Weighted average exercise price per share | $ / shares	$ 0.49	$ 0.49

Share-based payments reserve _4

Share-based payments reserve (Details 3) - US Dollars denominated stock options [member]	3 Months Ended
	Nov. 30, 2023 shares $ / shares
IfrsStatementLineItems [Line Items]
Exercise price | $ / shares	$ 0.49	[1]
Number of options outstanding	10,450,000
Number of options exercisable	3,565,000
Remaining contractual life	4 years	[1]
Range 1 [member]
IfrsStatementLineItems [Line Items]
Exercise price | $ / shares	$ 0.50
Number of options outstanding	7,375,000
Number of options exercisable	2,950,000
Expiry date	Aug. 17, 2027
Remaining contractual life	3 years 8 months 12 days
Range 2 [member]
IfrsStatementLineItems [Line Items]
Exercise price | $ / shares	$ 0.45
Number of options outstanding	3,075,000
Number of options exercisable	615,000
Expiry date	Aug. 28, 2028
Remaining contractual life	4 years 9 months 18 days
[1]Total represents weighted average.

Share-based payments reserve _5

Share-based payments reserve (Details 4)	3 Months Ended
	Nov. 30, 2023 shares
Notes and other explanatory information [abstract]
Number of Rsu shares, beginning balance	3,473,077
Restricted share units, vested	(700,000)
Number of Rsu shares, ending balance	2,773,077

Share-based payments reserve _6

Share-based payments reserve (Details Narrative) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Aug. 31, 2023
IfrsStatementLineItems [Line Items]
Share based compensation expense	$ 0.9	$ 0.8
Stock options [member]
IfrsStatementLineItems [Line Items]
Share based compensation expense	0.2	0.1
RSUs [member]
IfrsStatementLineItems [Line Items]
Share based compensation expense	$ 0.5	$ 0.2
Omnibus equity incentive plan [member]
IfrsStatementLineItems [Line Items]
Number of shares issued for options	5,225,271		3,617,450

Warrants reserve (Details)

Warrants reserve (Details) - $ / shares	3 Months Ended	12 Months Ended
	Nov. 30, 2023	Aug. 31, 2023
Warrants Reserve
Number of share warrants	38,968,037	38,968,037
Weighted average exercise price per share	$ 0.68	$ 0.68
Weighted average remaining contractual life	2 years 6 months	2 years 9 months 18 days

Warrants reserve (Details 1)

Warrants reserve (Details 1)	3 Months Ended
	Nov. 30, 2023 $ / shares shares
IfrsStatementLineItems [Line Items]
Number of warrants | shares	38,968,037
Exercise price | $ / shares	$ 0.68	[1]
Private placement financing warrants december 23, 2020 [member]
IfrsStatementLineItems [Line Items]
Number of warrants | shares	2,777,268
Exercise price | $ / shares	$ 1.50
Warrants outstanding expiry date	Dec. 23, 2023
Private placement financing warrants february 11, 2021 [member]
IfrsStatementLineItems [Line Items]
Number of warrants | shares	16,461,539
Exercise price | $ / shares	$ 0.80
Warrants outstanding expiry date	Feb. 11, 2026
Private placement financing broker warrants february 11, 2021 [member]
IfrsStatementLineItems [Line Items]
Number of warrants | shares	1,152,307
Exercise price | $ / shares	$ 0.80
Warrants outstanding expiry date	Feb. 11, 2026
Private placement financing warrants january 26, 2022 [member]
IfrsStatementLineItems [Line Items]
Number of warrants | shares	17,948,718
Exercise price | $ / shares	$ 0.44
Warrants outstanding expiry date	Jan. 26, 2027
Private placement financing placement agent warrants january 26, 2022 [member]
IfrsStatementLineItems [Line Items]
Number of warrants | shares	628,205
Exercise price | $ / shares	$ 0.44
Warrants outstanding expiry date	Jan. 26, 2027
[1]Total represents weighted average.

Non-controlling interest (Detai

Non-controlling interest (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Aug. 31, 2023
IfrsStatementLineItems [Line Items]
Revenue	$ 9,404	$ 9,718
Income tax expense	1,191	1,486
Comprehensive income for the period	(39)	5,160
Current assets	17,181		$ 17,193
Current liabilities	19,146		17,810
Cash provided by operating activities	5,139	6,648
Cash used in investing activities	(4,060)	(6,036)
Cash used in financing activities	(381)	(158)
Non-controlling interests [member] | Buckreef [member]
IfrsStatementLineItems [Line Items]
Revenue	9,404	9,718
Depreciation	484	193
Accretion expense	140	163
Income tax expense	1,191	1,486
Comprehensive income for the period	2,061	3,662
Current assets	11,542		11,238
Non-current assets	67,696		64,762
Current liabilities	(13,248)		(12,113)
Non-current liabilities	(6,354)		(5,301)
Advances from parent, net	(34,971)		$ (36,049)
Cash provided by operating activities	6,110	8,005
Cash used in investing activities	(4,057)	(6,209)
Cash used in financing activities	$ (1,089)	$ (48)

Related party transactions (Det

Related party transactions (Details) - USD ($) $ in Thousands		3 Months Ended
		Nov. 30, 2023	Nov. 30, 2022
Related party transactions [abstract]
Remuneration	[1]	$ 436	$ 459
Share-based compensation expense		693	714
Total directors and key management personnel		$ 1,129	$ 1,173
[1]Remuneration includes salaries and benefits for certain key management personnel and director fees. Certain members of the board of directors have employment or service contracts with the Company. Directors are entitled to director fees and share-based compensation for their services and officers are entitled to cash remuneration and share-based compensation for their employment services.

Related party transactions (D_2

Related party transactions (Details Narrative) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Aug. 31, 2023
IfrsStatementLineItems [Line Items]
Payables to related parties	$ 0.1		$ 0.4
Shares granted	0.2	$ 0.8
Stock options [member]
IfrsStatementLineItems [Line Items]
Compensation expense	0.2	0.1
RSUs [member]
IfrsStatementLineItems [Line Items]
Compensation expense	$ 0.3	$ 0.2

General and administrative ex_3

General and administrative expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Notes and other explanatory information [abstract]
Directors’ fees (Note 15)	$ 60	$ 107
Insurance	85	99
Office and general	67	19
Shareholder information	158	128
Professional fees	189	101
Salaries and benefits (Note 15)	558	484
Consulting	177	51
Share-based compensation expense (Notes 12 and 15)	810	753
Travel and accommodation	78	47
Depreciation	13	40
Other	16	8
Total general and administrative expenses	$ 2,211	$ 1,837

Financial instruments (Details)

Financial instruments (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Aug. 31, 2023
Measured at amortized cost
Amounts receivable	$ 2,062	$ 3,140
Measured at fair value through profit or loss
Cash	8,327	7,629
Measured at amortized cost
Amounts payables and accrued liabilities	12,972	11,571
Measured at fair value through profit or loss
Derivative financial instrument liabilities	$ 3,345	$ 3,544

Segmented information (Details)

Segmented information (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
IfrsStatementLineItems [Line Items]
Total revenue	$ 9,404	$ 9,718
Tanzania [member]
IfrsStatementLineItems [Line Items]
Total revenue	$ 9,404	$ 9,718

Segmented information (Details

Segmented information (Details 1) - USD ($) $ in Thousands	Nov. 30, 2023	Aug. 31, 2023
IfrsStatementLineItems [Line Items]
Total non-current assets	$ 69,882	$ 67,007
Canada [member]
IfrsStatementLineItems [Line Items]
Total non-current assets	52	55
Tanzania [member]
IfrsStatementLineItems [Line Items]
Total non-current assets	$ 69,830	$ 66,952

Segmented information (Detail_2

Segmented information (Details Narrative) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Notes and other explanatory information [abstract]
Revenue percentage	90%	100%
Revenue from customers	$ 8.5	$ 9.7

Non-cash items (Details)

Non-cash items (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Non-cash Items
Depreciation	$ 497	$ 233
Change in fair value of derivative financial instruments (Note 9)	(199)	(3,365)
Share-based compensation expense (Note 12)	875	809
Accretion of provision for reclamation	27	35
Deferred income tax expense (Note 10)	899	1,129
Accretion of lease liabilities	1	5
Deferred revenue (Note 8)	578
Accretion of deferred revenue (Note 8)	112	127
Foreign exchange losses (gains)	165	(4)
Other expenses		15
Total non-cash items	$ 2,955	$ (1,016)

Subsequent event (Details Narra

Subsequent event (Details Narrative)	3 Months Ended
	Nov. 30, 2023
Notes and other explanatory information [abstract]
Subsequent event, description	the Company entered into a series of gold zero-cost collar contracts for 600 gold ounces per month for a total of 3,000 gold ounces to be settled from January 2024 to May 2024, at a maximum and minimum gold price of $2,150 and $1,850 per gold ounce, respectively.