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): 0.83
• 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: 47 Neutral
• Price Target: AU$0.10 ▲(28.75% Upside)
• Action: Reiterated Date: 02/28/26
• Date: Action: Reiterated 02/28/26

The score is held down primarily by weak financial performance (no revenue, sustained losses, and ongoing cash burn). Technicals provide some support due to an upward trend versus moving averages and neutral momentum, but valuation remains challenged because profitability is negative and dividend yield data is unavailable.

Positive Factors

Low leverage / conservatively levered balance sheet

Very low debt reduces solvency and refinancing risk over the medium term, giving the company structural resilience while it pursues exploration or development. A near-zero debt profile preserves optionality for future project funding and lowers fixed financing costs versus peers.

Earnings and cash-flow alignment

Reported losses closely track cash outflows, indicating accounting results reflect real cash performance. This alignment improves forecasting reliability and financial transparency, making long-term cash planning and funding needs more predictable for investors and management.

Exposure to structural gold market demand

Being in the gold industry ties the company to long-term structural demand drivers—store-of-value, central bank purchases, and jewelry demand. If the company can advance to production, this steady structural market supports durable commodity demand versus cyclical sectors.

Negative Factors

Zero revenue / non-producing operations

Absence of operating revenue demonstrates the business is non-producing and reliant on external funding. Over months-to-years this raises execution risk: the firm must convert exploration assets into producing operations to achieve sustainable cash generation and cover ongoing costs.

Consistent negative cash flow and rising burn

Sustained negative operating and free cash flow creates persistent funding requirements and increases dilution or financing risk. Over a multi-month horizon this constrains capital allocation, limits ability to advance projects, and leaves the company exposed if capital markets tighten.

Declining equity base and negative returns

A shrinking equity and asset base alongside negative ROE signals the company is eroding shareholder capital rather than generating returns. This long-term trend reduces financial flexibility, increases the likelihood of future equity issuance, and undermines investor confidence in capital efficiency.

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 statement and cash flow are very weak (zero revenue, persistent operating losses, and consistently negative operating/free cash flow with rising burn), indicating ongoing funding needs. This is partially offset by a low-debt balance sheet that reduces solvency risk, but equity/assets have been trending down 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	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-188.00K	-334.00K	-146.00K	-5.00K	-31.00K
EBITDA	-8.22M	-5.95M	-4.14M	-3.14M	-804.00K
Net Income	-5.84M	-6.15K	-3.47M	7.96M	-1.33M
Balance Sheet
Total Assets	48.07M	51.73M	57.00M	57.99M	48.65M
Cash, Cash Equivalents and Short-Term Investments	18.87M	31.77M	37.10M	38.65M	33.21M
Total Debt	70.00K	6.00K	20.00K	35.00K	42.00K
Total Liabilities	5.57M	5.36M	4.80M	4.26M	1.85M
Stockholders Equity	42.51M	46.37M	52.20M	53.73M	46.80M
Cash Flow
Free Cash Flow	-6.51M	-5.92M	-3.88M	-2.49M	-710.00K
Operating Cash Flow	-6.39M	-5.80M	-3.88M	-2.49M	-710.00K
Investing Cash Flow	6.00K	18.00K	-266.00K	9.43M	83.00K
Financing Cash Flow	-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: Neutral

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 0.10, below the 50-day MA of 0.09, and above the 200-day MA of 0.07, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 68.43 is Neutral, neither overbought nor oversold. The STOCH value of 73.12 is Neutral, 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	58 Neutral	AU$181.41M	-20.87	-6.79%	―	―	19.94%
KAU	54 Neutral	AU$248.75M	-4.84	-43.66%	―	46.74%	-47.98%
AS1	52 Neutral	AU$216.43M	-31.19	-5.37%	―	―	―
HRN	51 Neutral	AU$220.54M	-16.72	-2.97%	―	―	42.74%
TAM	47 Neutral	AU$117.51M	-12.67	-13.15%	―	―	3.85%
VTX	47 Neutral	AU$50.15M	-7.21	-42.43%	―	307.85%	-133.82%

Tanami Gold NL Corporate Events

MGX Completes $50m Acquisition of 50% Stake in Central Tanami Gold Project

MGX Resources Limited has completed the acquisition of a 50% interest in the Central Tanami Gold Project Joint Venture in the Northern Territory from Northern Star Resources for $50 million, including the replacement of approximately $5.8 million in bank guarantees and the purchase of an additional 3,600 square kilometres of wholly owned exploration tenure in the region. The Central Tanami project, which MGX now shares via joint venture with Tanami Gold NL, is one of Australia’s highest-grade undeveloped gold assets with JORC 2012 mineral resources of 31.0 million tonnes at 2.8 g/t for about 2.8 million ounces of contained gold, positioning MGX for a transformational expansion as it moves quickly to define a development plan, secure approvals and accelerate project development in partnership with local stakeholders and Traditional Owners.

The most recent analyst rating on (AU:TAM) stock is a Hold with a A$0.11 price target. To see the full list of analyst forecasts on Tanami Gold NL stock, see the AU:TAM Stock Forecast page.

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.