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Tanami Gold NL ( (AU:TAM) ) just unveiled an update.
Tanami Gold NL reported that preparation for late FY26 and FY27 activities is progressing, with planned programs targeting site infrastructure upgrades, regulatory approvals, permitting and resource definition drilling at the Central Tanami Project. The joint venture has selected Macmahon Underground Pty Ltd as preferred contractor for constructing an exploration decline at the Groundrush Gold Mine, intended to enable infill drilling of down-plunge extensions once a binding agreement is finalised.
No drilling was carried out in the March quarter as geological teams focused on transition work following a change in ownership, as well as project reporting and forward planning for exploration. The company ended the quarter with $12.88 million in cash, additional joint venture cash and a significant holding in Northern Star Resources shares, while noting MGX Resources’ acquisition of Northern Star’s 50% interest in the joint venture and early-stage discussions with Prodigy Gold over the Hyperion Gold Project.
More about Tanami Gold NL
Tanami Gold NL is an Australian gold exploration and development company listed on the ASX, with its primary focus on the Central Tanami Project in the Northern Territory. The company participates in the Central Tanami Project Joint Venture, where it is advancing exploration, resource definition and potential development of the Groundrush Gold Mine.
Average Trading Volume: 1,195,250
Technical Sentiment Signal: Buy
Current Market Cap: A$111.6M
Learn more about TAM stock on TipRanks’ Stock Analysis page.