Tanami Gold NL (TAM) AI Stock Analysis

• Market Cap: AU$117.51M
• Dividend Yield: N/A
• Average Volume (3M): 1.97M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.80
• Revenue Growth: N/A
• EPS Growth: 3.85%
• Country: AU
• Employees: 107
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 1,175,097,000
• 10 Day Avg. Volume: 2,194,596
• 30 Day Avg. Volume: 1,971,326
• PEG Ratio: 0.00
• Price to Book (P/B): 1.74
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -11.36
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: AU$0.11 ▲(36.25% Upside)

The score is held down primarily by weak financial performance (no revenue, ongoing losses, and sustained negative free cash flow), with valuation also constrained by loss-making results (negative P/E). Technicals are a partial offset due to strong trend/momentum, but overbought signals reduce confidence in the near-term setup.

Positive Factors

Low leverage

Near-zero debt materially reduces financial distress risk and gives management optionality during multi-year development cycles. This conservative capital structure supports resilience while the business seeks production or financing, limiting interest burden and insolvency risk.

Industry exposure

Operating in the gold sector provides exposure to a globally demanded commodity and long-term structural use cases for reserves and jewelry. This industry positioning supports optional long-term revenue opportunities if projects reach production and benefits from persistent global demand.

Cash-reporting alignment

Close alignment of free cash flow and net income indicates earnings reflect actual cash movements, improving financial transparency. That reduces accrual risk and gives clearer visibility into real funding needs, aiding planning for capital raises or project timelines.

Negative Factors

No revenue / persistent losses

A sustained pre-revenue profile with widening operating losses signals the company is not generating operating cash inflows and faces material execution risk to reach production. Continued losses erode runway and require external capital, constraining long-term viability absent project milestones.

Consistent cash burn

Persistent negative operating and free cash flow mean the business must repeatedly access external financing to sustain operations. Growing cash burn increases dilution risk, limits ability to invest in development, and heightens funding vulnerability over the next several quarters to years.

Declining capital base & negative ROE

A shrinking asset/equity base and negative ROE indicate the company is destroying shareholder capital rather than generating returns. This weakens long-term growth capacity and investor confidence, making it harder to fund projects and achieve sustainable value creation without structural change.

Tanami Gold NL Business Overview & Revenue Model

Company Description

Tanami Gold NL, together with its subsidiaries, engages in the exploration and evaluation of gold properties in Australia. Its flagship project is the Central Tanami project covering an area of 2,211 square kilometers located in the Tanami Region of the Northern Territory. The company was incorporated in 1968 and is based in South Perth, Australia.

How the Company Makes Money

Tanami Gold NL makes money through the exploration, development, and eventual sale of gold extracted from its mining operations. The company's revenue model is centered around identifying promising gold deposits, developing the necessary infrastructure for extraction, and then selling the gold produced. Key revenue streams include the sale of gold to commercial buyers and commodity markets. Additionally, the company may engage in partnerships or joint ventures with other mining companies to leverage shared resources and expertise, further enhancing its revenue potential. The profitability of Tanami Gold NL is influenced by factors such as gold market prices, mining efficiency, and the successful discovery of new gold reserves.

Tanami Gold NL Financial Statement Overview

Summary

Income and cash flow profiles are weak: zero reported revenue, persistent operating losses, and consistently negative operating/free cash flow with increasing burn. The main offset is a conservatively levered balance sheet with very low debt, but equity/assets have declined and returns remain negative.

Income Statement

The company reports zero revenue across all provided years, while operating losses are persistent and large (EBITDA and EBIT remain deeply negative, with net income mostly negative as well). Profitability has deteriorated versus earlier periods (losses widened from 2020–2021 to 2023–2025), with only a temporary net income uplift in 2022 that did not translate into positive operating earnings. Overall, the income profile reflects a pre-revenue or non-producing business with ongoing cost burn and limited earnings visibility.

Balance Sheet

The balance sheet is conservatively levered, with extremely low debt relative to equity (debt-to-equity near zero throughout), which reduces financial risk and improves resilience. However, equity and total assets have trended down since 2022–2023, and return on equity is negative in most years (and sharply negative in 2025), signaling that the asset base is not currently generating shareholder returns. Strength is low leverage; weakness is declining capital base and weak profitability.

Cash Flow

Cash generation is consistently negative: operating cash flow and free cash flow are below zero every year, and the cash burn has generally increased in magnitude by 2024–2025. While free cash flow tracks reported earnings closely in direction (free cash flow to net income near ~1 in most periods), that mainly highlights that losses are supported by real cash outflows rather than accounting noise. Overall, the cash flow statement points to sustained funding needs until revenue or materially lower spending emerges.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	-188.00K	-334.00K	-146.00K	-5.00K	-31.00K
EBITDA	-3.96M	-8.22M	-5.95M	-4.14M	-3.14M	-804.00K
Net Income	-2.68M	-5.84M	-6.15K	-3.47M	7.96M	-1.33M
Balance Sheet
Total Assets	48.07M	48.07M	51.73M	57.00M	57.99M	48.65M
Cash, Cash Equivalents and Short-Term Investments	18.87M	18.87M	31.77M	37.10M	38.65M	33.21M
Total Debt	70.00K	70.00K	6.00K	20.00K	35.00K	42.00K
Total Liabilities	5.57M	5.57M	5.36M	4.80M	4.26M	1.85M
Stockholders Equity	42.51M	42.51M	46.37M	52.20M	53.73M	46.80M
Cash Flow
Free Cash Flow	-6.51K	-6.51M	-5.92M	-3.88M	-2.49M	-710.00K
Operating Cash Flow	-6.39K	-6.39M	-5.80M	-3.88M	-2.49M	-710.00K
Investing Cash Flow	-244.00K	6.00K	18.00K	-266.00K	9.43M	83.00K
Financing Cash Flow	-15.00K	-15.00K	-14.00K	-14.00K	-33.00K	0.00

Tanami Gold NL Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.08
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:TAM, the sentiment is Positive. The current price of 0.08 is below the 20-day moving average (MA) of 0.09, above the 50-day MA of 0.08, and above the 200-day MA of 0.06, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 61.38 is Neutral, neither overbought nor oversold. The STOCH value of 81.22 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:TAM.

Tanami Gold NL Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
TSO	55 Neutral	AU$214.31M	-42.28	-6.79%	―	―	19.94%
KAU	54 Neutral	AU$208.74M	-6.84	-43.66%	―	46.74%	-47.98%
HRN	54 Neutral	AU$163.71M	-144.03	-2.97%	―	―	42.74%
AS1	50 Neutral	AU$168.33M	-70.00	-5.37%	―	―	―
TAM	49 Neutral	AU$117.51M	-20.00	-13.15%	―	―	3.85%
VTX	47 Neutral	AU$67.34M	-7.39	-42.43%	―	307.85%	-133.82%

Tanami Gold NL Corporate Events

Tanami Gold NL Updates Company Address

Tanami Gold NL has announced a change in its physical street address to Unit 202, Echelon, 77 South Perth Esplanade, South Perth WA 6151. This change is effective immediately, while all other contact details remain the same. This update is part of the company’s ongoing administrative adjustments and does not impact its operations or stakeholder engagements.

Tanami Gold NL Announces Successful AGM Outcomes

Tanami Gold NL announced the results of its Annual General Meeting, where all resolutions were passed by a poll. The meeting included key decisions such as the adoption of the Remuneration Report and the election of Mr. Arthur Dew and Mr. Neale Edwards to the board. These outcomes reflect shareholder support for the company’s strategic direction and governance, potentially strengthening its position in the gold mining sector.

Tanami Gold Increases Central Tanami Project Mineral Resource to 2.8 Moz

Tanami Gold NL has announced an updated Mineral Resource estimate for its Central Tanami Project, revealing a total of 31 million tonnes at 2.8 grams per tonne of gold, equating to 2.8 million ounces as of September 30, 2025. This update marks an 18% increase in tonnes and a 9% increase in contained ounces compared to the previous estimate, although the grade has decreased by 8%. The increase is attributed to recent drilling, higher gold price assumptions, and improved metallurgical recoveries. The project, which is a joint venture with Northern Star Resources Limited, is undergoing a transition to align with the JORC Code standards, and the updated estimates have been rigorously constrained by pit and stope optimisations.

Tanami Gold Advances Drilling Efforts Amidst Strategic Acquisition

During the September 2025 quarter, Tanami Gold NL continued its drilling activities at the Central Tanami Project, completing over 10,000 meters of drilling across various sites, including Jims Gold Mine and Groundrush Gold Mine. Significant assay results were reported, and a second phase of drilling commenced at Jims. Additionally, Mount Gibson Iron Limited agreed to acquire Northern Star’s 50% interest in the Central Tanami Project Joint Venture for A$50 million, which could impact the project’s future development and stakeholder interests.

Tanami Gold NL Announces 2025 Annual General Meeting Details

Tanami Gold NL has announced its Annual General Meeting (AGM) for shareholders, scheduled to take place on November 27, 2025, in South Perth, Western Australia. The company will not send physical copies of the meeting notice unless specifically requested, and shareholders are encouraged to access the materials online. The meeting will be held physically, with any changes to be communicated via the ASX and the company’s website. Shareholders are urged to submit their proxy forms by November 25, 2025, to ensure their votes are counted.