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Tanami Gold NL Reports Promising Drilling Results and Strategic Developments

Story Highlights
  • Tanami Gold NL continues drilling at Central Tanami Project with significant gold findings.
  • Mount Gibson Iron Limited to acquire 50% stake in Central Tanami Project Joint Venture.
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Tanami Gold NL Reports Promising Drilling Results and Strategic Developments

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Tanami Gold NL ( (AU:TAM) ) just unveiled an update.

Tanami Gold NL’s quarterly report highlights ongoing drilling activities at the Central Tanami Project, with significant progress made at various sites, including Jims Gold Mine and Groundrush Gold Mine. The company reported several significant gold intercepts, indicating promising mineralization. Financially, Tanami Gold holds $18.872 million in cash and 500,000 shares in Northern Star Resources Limited. Additionally, Mount Gibson Iron Limited has agreed to acquire a 50% stake in the Central Tanami Project Joint Venture from Northern Star for $50 million, potentially impacting Tanami’s operations and future collaborations.

More about Tanami Gold NL

Tanami Gold NL is a company operating in the gold mining industry, focusing on exploration and development activities. Its primary operations are centered around the Central Tanami Project, where it holds a 50% interest in a joint venture with Northern Star Resources Limited. The company aims to develop and mine gold deposits, particularly the Groundrush gold deposit, while optimizing existing mining infrastructure.

Average Trading Volume: 956,222

Technical Sentiment Signal: Buy

Current Market Cap: A$68.16M

Find detailed analytics on TAM stock on TipRanks’ Stock Analysis page.

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