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Tanami Gold NL (ASX:TAM)

ALERT: Price-sensitive ASX Announcement for TAM
Current share price for TAM : $0.072 0.014 (24.14%)+
Announcement
Release
24 Jul 2026 8:19AM
Price at Release
$0.058
Full Release
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Summary
Tanami Gold NL reported significant developments in their Quarterly Activities Review for the period ending 30 June 2026. The company completed a $70.5 million Rights Issue to fund its joint venture activities in the Central Tanami Project, in collaboration with MGX Resources. Key initiatives include commencing site works for the Groundrush Exploration Decline and ongoing resource drilling at Jims Gold Mine. Financially, the company held cash reserves of $75.943 million. A shift in the board saw Brett Smith becoming Executive Director, further supporting project development. Important partnerships and strategic investments underscore Tanami Gold's commitment to advancing its mining interests.
Key Points
  • Completion of a fully underwritten Rights Issue raising $70.5 million.
  • Groundrush Exploration Decline contractor selected, with site works starting in August 2026.
  • Resource definition drilling at Jims Gold Mine with 2,184 meters completed.
  • Cash reserves at 30 June 2026 totaled $75.943 million.
  • Mr Brett Smith transitioned to Executive Director on 1 May 2026.
  • Joint venture with MGX Resources for the Central Tanami Project.
  • Macmahon Underground Pty Ltd selected as contractor for Groundrush decline.
  • Exploration and infrastructure upgrades are ongoing at Central Tanami Project.
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.