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Tanami Gold NL ( (AU:TAM) ) has provided an update.
Tanami Gold’s Central Tanami Project Joint Venture has selected Macmahon Underground Pty Ltd as preferred mining contractor to build an underground exploration decline at the Groundrush Gold Deposit in the Northern Territory. The proposed work, valued at about $38 million, covers portal and ventilation establishment plus roughly 3,500 metres of decline development over 14 months starting in the September 2026 quarter.
The decline is intended to support resource infill drilling from underground and to accelerate advancement of the mine workings, with underground drilling to commence towards the end of the development period. The appointment of Macmahon remains subject to finalisation and execution of a binding contract, marking a key step in advancing the Central Tanami Project toward potential future production and de‑risking the project for joint venture stakeholders.
More about Tanami Gold NL
Tanami Gold NL is an Australian gold exploration and development company listed on the ASX and focused on the Tanami region of the Northern Territory. The company holds a 50% interest in the Central Tanami Project Joint Venture alongside MGX Resources, targeting the development of the Groundrush Gold Deposit through underground exploration and resource definition.
Average Trading Volume: 1,295,456
Technical Sentiment Signal: Buy
Current Market Cap: A$104.6M
See more insights into TAM stock on TipRanks’ Stock Analysis page.