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Tanami Gold NL (ASX:TAM)

ALERT: Price-sensitive ASX Announcement for TAM
Current share price for TAM : $0.058 -0.034 (-36.96%)+
Announcement
Release
8 May 2026 10:18AM
Price at Release
$0.092
Full Release
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Summary
Tanami Gold NL has announced a renounceable rights issue offering one new share for every existing share at an issue price of $0.06, aimed at raising approximately $70.5 million before costs. The offer, fully underwritten by Bell Potter Securities Limited, is intended to fund the Central Tanami Project and Groundrush Gold Mine development, in partnership with MGX Resources Limited. The proceeds are earmarked for a variety of purposes such as underground resource definition drilling, infrastructure upgrades, and working capital. The offer will be open from 18 May 2026 to 27 May 2026, and is available to eligible shareholders in select regions, managed by joint lead managers Bell Potter Securities and Evolution Capital Pty Ltd.
Key Points
  • Tanami Gold NL is offering a renounceable rights issue.
  • One new share is offered for every existing share at $0.06 per share.
  • The offer aims to raise approximately $70.5 million before costs.
  • The offer is fully underwritten by Bell Potter Securities Limited.
  • Funds will be used for the Central Tanami Project and Groundrush Gold Mine.
  • The project is a joint venture with MGX Resources Limited.
  • The offer opens on 18 May 2026 and closes on 27 May 2026.
  • Shareholders in specific regions are eligible for the offer.
  • Bell Potter Securities and Evolution Capital are joint lead managers.
  • Proceeds will fund underground drilling, infrastructure upgrades, and working capital.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.