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Tanami Gold NL ( (AU:TAM) ) has issued an update.
Macmahon’s underground subsidiary has been selected as preferred mining contractor by the Central Tanami Project Joint Venture, between Tanami Gold NL and MGX Resources, for the Groundrush exploration decline in the Tanami region of the Northern Territory. The roughly $38 million contract, expected to run for 14 months from the September 2026 quarter, covers portal and vent establishment and about 3,500 metres of decline development.
Completion of the exploration decline and resource definition drilling is expected to pave the way for subsequent production mining at Groundrush, potentially creating further growth opportunities for the Macmahon–CTPJV partnership. The mandate underscores Macmahon’s strategy to expand its underground mining footprint in Australia and reinforces its standing as a key contractor in the country’s resources sector.
More about Tanami Gold NL
Macmahon Holdings Limited is an ASX-listed mining and civil infrastructure contractor providing surface and underground mining and civil services across Australia and Southeast Asia. The company positions itself as a contractor of choice for resources, non-resources, public infrastructure and renewables projects, focusing on collaborative, low-risk client relationships.
Average Trading Volume: 1,295,456
Technical Sentiment Signal: Buy
Current Market Cap: A$104.6M
See more data about TAM stock on TipRanks’ Stock Analysis page.