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An announcement from Tanami Gold NL ( (AU:TAM) ) is now available.
Metals X Limited, an ASX-listed resources company, has reaffirmed its strategic stake in Tanami Gold NL by committing to fully participate in Tanami’s latest equity raising. Tanami is undertaking a fully underwritten, 1-for-1 renounceable entitlement offer to raise about A$70.5 million through the issue of new shares at A$0.06 each, supported by joint lead managers Bell Potter Securities and Evolution Capital.
Metals X will subscribe for 34,430,000 new shares for a total consideration of A$2,065,800, ensuring its holding remains at 2.93% of Tanami’s expanded issued capital. The move underscores Metals X’s continued confidence in Tanami’s Central Tanami Project and maintains its exposure to the project’s future development, which may be closely watched by investors tracking gold-sector joint ventures and capital structures.
More about Tanami Gold NL
Tanami Gold NL is an Australian mineral exploration and gold mining company focused on developing the Central Tanami Project in the Northern Territory. The project is structured as a 50/50 joint venture with MGX Resources Ltd, positioning Tanami within a key gold-producing region and aligning it with partners in the broader resources sector.
Average Trading Volume: 971,015
Technical Sentiment Signal: Buy
Current Market Cap: A$108.1M
Find detailed analytics on TAM stock on TipRanks’ Stock Analysis page.