Tanami Gold NL (TAM) AI Stock Analysis

• Market Cap: AU$129.26M
• Dividend Yield: N/A
• Average Volume (3M): 1.97M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.47
• 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$0.12 ▲(47.50% 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 Financial Leverage

Extremely low debt relative to equity materially reduces insolvency and refinancing risk over the medium term. That conservatively levered capital structure preserves optionality to raise growth capital or withstand exploration spending without immediate solvency pressure, improving resilience while revenues remain absent.

Gold Industry Exposure

Operating in the gold sector provides structural demand drivers and long-term safe-haven appeal versus cyclicals. As a resource company, exposure to gold supports potential upside from favorable commodity cycles and investor interest in stores of value, which can underpin strategic pathways to eventual production monetization.

Lower Systematic Volatility

A beta well below 1 indicates lower sensitivity to market swings, which can reduce financing cost volatility and investor panic during broader downturns. For a company with funding needs, lower systematic volatility supports steadier access to capital markets and fewer forced dilutive actions tied to market stress.

Negative Factors

No Revenue / Persistent Losses

Zero reported revenue and sustained, widening operating losses indicate a pre-revenue or non-producing profile with limited near-term earnings visibility. Over months, absence of operating income forces continued capital raises or spending cuts, undermining sustainability until production or commercial revenue is achieved.

Negative Cash Generation / Rising Burn

Consistent negative operating and free cash flow, with increasing burn, creates structural funding risk. Persistent outflows mean management must secure fresh capital or sharply reduce spend; both outcomes dilute or slow project timelines, making long-term project completion and value realization conditional on financing.

Eroding Equity Base & Negative ROE

Declining equity and assets alongside sharply negative ROE signal the company is eroding its capital base rather than generating returns. This structural deterioration reduces balance-sheet optionality, increases reliance on external funding, and raises the risk that future financing is more dilutive or costly.

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

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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 0.11, below the 50-day MA of 0.10, and above the 200-day MA of 0.07, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 53.18 is Neutral, neither overbought nor oversold. The STOCH value of 40.35 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%
HRN	56 Neutral	AU$249.38M	-301.32	-2.97%	―	―	42.74%
KAU	54 Neutral	AU$187.65M	4.74	2.67%	―	46.74%	-47.98%
AS1	52 Neutral	AU$216.43M	-31.19	-3.39%	―	―	―
TSO	49 Neutral	AU$172.51M	-20.87	-6.79%	―	―	19.94%
TAM	47 Neutral	AU$129.26M	-12.67	-6.19%	―	―	3.85%
VTX	42 Neutral	AU$45.85M	-7.21	-36.73%	―	307.85%	-133.82%

Tanami Gold NL Corporate Events

Tanami Gold Releases Half-Year Financial Report for December 2025

Tanami Gold NL has released its half-yearly report for the period ended 31 December 2025, outlining its financial performance and position. The document includes directors’ commentary, auditor statements, and condensed interim financial statements, providing stakeholders with an overview of the company’s recent operational and financial status.

The report’s publication marks a routine yet important disclosure event, enhancing transparency around Tanami Gold’s interim results and governance. Investors and analysts will use these statements to assess the company’s progress, capital structure, and cash flows, which may influence outlooks on its operational resilience and future strategic direction.

The most recent analyst rating on (AU:TAM) stock is a Hold with a A$0.12 price target. To see the full list of analyst forecasts on Tanami Gold NL stock, see the AU:TAM Stock Forecast page.

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.