Price, volume & events
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- Last 2026-11-06
- A$0.06
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
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- Mkt cap
- A$141M
- EV
- A$55.6M
- Cash
- A$75.9M
- Debt
- A$0
1 newer ASX announcement not yet reflected in this valuation
- Quarterly Activities Review & Appendix 5BLatest Four Activities Reports
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Sign in or enter a guest codeAnnouncements
Latest 12 of 14All sources ▸- Annual Report for the year ended 30 June 2026Results
- Quarterly Activities Review & Appendix 5BOperations
- Appendix 2AFinancing
- Investor PresentationPresentation
- Quarterly Activities Review & Appendix 5BOperations
- Half Yearly Report and AccountsResults
- MGX: Completion of CTPJV acquisitionTransaction
- Quarterly Activities Review & Appendix 5BOperations
- Mineral Resources UpdateResource Update
- Quarterly Activities Review & Appendix 5BOperations
- Annual Report to ShareholdersResults
- Agreement to acquire 50% of the Central Tanami Gold ProjectTransaction
Event calendar · next 12 months
5 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| Remaining September 2026 quarter | Groundrush portal construction and decline mobilisation | Construction Or Commissioning | Company Guided | High | Tests delivery of the signed A$38 million decline programme and TAM's A$19 million attributable funding commitment. |
| FY27 programme | Jims resource definition drilling results | Exploration | Company Guided | High | Tests potential open-pit feed and the breadth of the current 2.8 Moz resource base. |
| FY27 programme | Metallurgical testwork and process FEED | Study | Company Guided | High | Recovery and plant scope are necessary to replace the resource option with decision-grade economics. |
| FY27 programme | Traditional Owner engagement and regulatory permitting | Permitting | Company Guided | High | Approvals determine the achievable development schedule and future capital requirements. |
| FY27 programme | Central Tanami Mineral Resource updates | Resource Or Reserve | Company Guided | High | Indicated conversion would change the credibility of mine design and resource-calibrated value. |
Executive roster
As of 2026-09-26Background checks ▸FY2026 annual report names the current senior management and secretary and confirms Brett Smith's 1 May transition. No later eligible change was identified.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Brett Smith | Executive Director | Executive Director | 2026-05-01 | Annual Report for the year ended 30 June 2026 · Quarterly Activities Review & Appendix 5B |
| Daniel Broughton | Chief Financial Officer | Finance | 2014-09-08 | Annual Report for the year ended 30 June 2026 |
| Pauline Collinson | Company Secretary | Company Secretary | 2013-07-18 | Annual Report for the year ended 30 June 2026 |
devCoverage status: Complete As Disclosed
Portfolio detail
Assets
Core asset
Central Tanami Project Joint Venture
Australia
Scoping Study Developer50% ownedGold
TAM owns and funds 50% with MGX. A 14-month A$38 million Groundrush exploration decline contract was signed in August 2026; Jims drilling, metallurgy, processing studies and approvals continue before any 2027 development decision.
Project location
Approximate location
Loading imagery…
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Published study economicsIssuer or study metrics
Initial capexA$38MPublished capital estimate
Initial capexA$40MPublished capital estimate
Operating cost3.95AUD/t milled
Signed approximately A$38 million, 14-month contract on a 100% CTPJV basis; TAM funds 50%, or A$19 million before any variance. This is exploration access, not full mine capex.
Conceptual 100% CTPJV incremental flotation-circuit cost shown in the May 2026 presentation; it is not a feasibility estimate and is excluded from base valuation.
Resources & reserves3
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Measured, Indicated and Inferred | 31M tonnes | 2.8 g/t Au | Gold | 2025-09-30 |
| Mineral Resource | Indicated and Inferred | 11M tonnes | 3.3 g/t Au | Gold | 2025-09-30 |
| Mineral Resource | Measured, Indicated and Inferred | 2.6M tonnes | 2.7 g/t Au | Gold | 2025-09-30 |
Tenements11
Milestones3
- Groundrush portal development start
Pending · High materiality
- Updated Mineral Resource estimate
Pending · High materiality
- Groundrush decline completion and underground infill drilling
Pending · High materiality
Permits & approvals2
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| CLC Mining Permit 97896 | Central Land Council, Northern Territory | Granted | — | Yes |
| Environmental and government development approvals | Northern Territory, Australia | Pending | — | Yes |
Economic studies1
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| Central Tanami processing and development options review | Scoping Study | Current | 2026-05-08 | GRES work is assessing refurbishment versus replacement of the idle 1.2 Mtpa CIL plant and a possible 1.5 Mtpa configuration; no decision-grade NPV, mine plan or reserve has been disclosed. |
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
Audited June consolidated cash of A$75.943 million plus A$9.475 million Northern Star shares backs the exploration programme. The JV's A$9.001 million cash is not added again because TAM's share of joint-operation assets is already included in consolidated accounts. The A$4.573 million restoration provision and A$0.055 million lease liabilities are separately deducted in the valuation bridge; A$1.757 million trade payables remain ordinary working capital. TAM's approximately A$19 million share of the signed decline contract is funded, but full mine-development capital is undisclosed.
Capital structure
Ownership and dilution
- Ordinary shares
- 2.4B
- Fully diluted
- 2.4B
The audited annual share register confirms 2,350,194,092 issued shares and no options as at 16 September 2026, consistent with the June rights-issue quotation notice.
KPI history
Operating metrics
Operating metric source table2
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Other | Central Tanami | June 2026 quarter | Quarter | 2,184 metres drilled at Jims | Reported |
| Production | Central Tanami | 2001-2005 | Other | 611,000 oz Au historical production | Reported |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-06-03Ann. 2026-05-08 | RaisingTam Ordinary Fully Paid Shares | A$70.5M | 1.2B | A$0.06 | Completed | Fully underwritten 1-for-1 pro rata renounceable rights issue completed on 3 June 2026.Max 1.2B · Period 2026-05-18 to 2026-06-03 · Bell Potter Securities Limited and Evolution Capital Pty Ltd |
Contracts and ownership
Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.
FY2026 annual report and eligible quarterly, partner completion and contract releases reviewed for live interests and obligations; no disclosed royalty, stream, offtake or hedge identified.
TAM receives 50% of joint-operation output and bears 50% of joint funding and liabilities; CTP JV Pty Ltd manages the venture.
Joint Venture · Active- Counterparties
- MGX Resources Limited · CTP JV Pty Ltd
- Applies to
- Central Tanami Project Joint Venture · Gold
- Economic direction
- Mixed
- Period
- From 2026-02-06; no end date stated
- Key terms
- TAM participating interest: 50 %
MGX participating interest: 50 %
How it affects our valuation
No valuation treatment is available for this arrangement.
Signed portal, vent and 3.5 km decline construction agreement; the attributable A$19 million is a funded pre-production commitment, not a full mine build estimate.
Other · Active- Counterparties
- Macmahon Underground Pty Ltd · CTP JV Pty Ltd
- Applies to
- Central Tanami Project Joint Venture · Gold
- Economic direction
- Burden
- Period
- From 2026-08-31; no end date stated
- Key terms
- Signed construction works: 38,000,000 AUD, 100% JV
TAM attributable share: 19,000,000 AUD
Construction term: 14 months
How it affects our valuation
No valuation treatment is available for this arrangement.
Related-party arrangement provides TAM CFO, senior accountant and company-secretarial services; recurring overhead is included in the central cost allowance.
Other · Active- Counterparties
- Dragon Mining Limited · Dragon Gold Mining Limited
- Applies to
- Company-wide
- Economic direction
- Burden
- Period
- From 2014-09-08; no end date stated
- Key terms
- FY2026 consulting and company-secretarial fees: 300,745 AUD/year
June 2026 quarter finance and company-secretarial service fees: 66,000 AUD/quarter
How it affects our valuation
No valuation treatment is available for this arrangement.
Intrinsic value
Valuation
Valuation
Bear, base and bull values, investment cases, project valuations and the equity bridge are available to subscribers.
Sign in or enter a guest codeResource-price transmission
Sensitivity lab
Sensitivity lab
How our fair value responds to commodity prices and other drivers is available to subscribers.
Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
This initial public-source management review covers the selected company.json roster plus issuer-confirmed current management additions. Career histories are unevenly documented, and role-specific achievements are often issuer-reported rather than independently attributable.
Decision-relevant facts
Material summary
Brett Smith
Executive Director
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 1
- Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.
Daniel Broughton
Chief Financial Officer
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 1
- Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.
Pauline Collinson
Company Secretary
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 1
- Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2026-09-16
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 43.39% | 1,019,703,044 | |
| 2 | 6.50% | 152,880,954 | |
| 3 | 3.97% | 93,383,254 | |
| 4 | 3.47% | 81,647,760 | |
| 5 | 3.39% | 79,618,968 | |
| 6 | 3.08% | 72,339,844 | |
| 7 | 2.93% | 68,860,000 | |
| 8 | 1.96% | 46,066,667 | |
| 9 | 1.95% | 45,912,456 | |
| 10 | 1.91% | 45,000,000 | |
| 11 | 1.68% | 39,377,115 | |
| 12 | 1.62% | 38,000,000 | |
| 13 | 1.02% | 23,885,690 | |
| 14 | 0.64% | 15,000,000 | |
| 15 | 0.59% | 13,960,380 | |
| 16 | 0.54% | 12,602,502 | |
| 17 | 0.51% | 11,915,259 | |
| 18 | 0.49% | 11,592,495 | |
| 19 | 0.47% | 11,000,000 | |
| 20 | 0.43% | 10,152,000 |
Sources & review notesEvidence checked through 2026-10-09
Coverage and limitations
- Top-20 only; issued capital denominator for 16 September 2026 was not stated alongside the table and is left null.
Sources
- Annual Report to shareholders
ASX announcement / Tanami Gold NL · Published 2026-09-22 · Accessed 2026-10-09
Shareholder information as at 16 September 2026; top-20 table lists shares and percentages.
page 58, Shareholder and Additional Information, local copy downloads/TAM/2026/2026-09-22_Annual Report to shareholders_f4872187ce652071.pdf
Disclosed activity
Insider transactions
Trading activity4 buys · 0 sells shownNet cash last 12 months no tradesShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-06-03 | Metals X LimitedMetals X Limited
Details & evidence for Metals X Limited on 2026-06-03Metals X is reported to have taken up its full pro-rata entitlement. Individual accepted quantity and cash amount are not disclosed in the reviewed notices and are left unquantified. As disclosed: Major shareholder took up respective entitlement in full
APAC Resources Limited and related bodies corporate (APAC Group) · APAC Group reports a relevant interest under Corporations Act section 608(3) in the same TAM shares in which Metals X has a relevant interest Results of Rights Issue ↗ Annual Report to shareholders ↗ Annual Report to shareholders ↗ Top 20 Shareholders and Holding Range Report ↗ | Subscriptionfully paid ordinary shares | — | —Not Disclosed | AUD 0.06Disclosed price | — |
| 2026-06-03 | APAC Resources Limited and related bodies corporate (APAC Group)APAC Resources Mining Limited
Details & evidence for APAC Resources Limited and related bodies corporate (APAC Group) on 2026-06-03APAC Resources is reported to have taken up its full pro-rata entitlement. Individual accepted quantity and cash amount are not disclosed in the reviewed notices and are left unquantified. As disclosed: Major shareholder took up respective entitlement in full
Results of Rights Issue ↗ Annual Report to shareholders ↗ Annual Report to shareholders ↗ Top 20 Shareholders and Holding Range Report ↗ | Subscriptionfully paid ordinary shares | — | —Not Disclosed | AUD 0.06Disclosed price | — |
| 2023-06-09 | APAC Resources Limited and related bodies corporate (APAC Group)Metals X Limited
Details & evidence for APAC Resources Limited and related bodies corporate (APAC Group) on 2023-06-09APAC Group Form 604 reports this on-market acquisition by Metals X Limited. APAC Group reported a relevant interest in the same securities under section 608(3); event is entered once and not duplicated at group level. As disclosed: On-market acquisition by Metals X Limited
Change in substantial holding ↗ Change in substantial holding ↗ | Purchasefully paid ordinary shares | 34,050,000 | AUD 1,157,700.00 | AUD 0.034Calculated average | — |
| 2023-06-08 | APAC Resources Limited and related bodies corporate (APAC Group)Metals X Limited
Details & evidence for APAC Resources Limited and related bodies corporate (APAC Group) on 2023-06-08APAC Group Form 604 reports this on-market acquisition by Metals X Limited. APAC Group reported a relevant interest in the same securities under section 608(3); event is entered once and not duplicated at group level. As disclosed: On-market acquisition by Metals X Limited
Change in substantial holding ↗ Change in substantial holding ↗ | Purchasefully paid ordinary shares | 380,000 | AUD 13,170.04 | AUD 0.034658Calculated average | — |
The closest covered peers
Peer comparison
Peer comparison pending
No peer comparison has been saved for this company.
An on-demand analysis selects up to five closest peers and checks what their differences mean for independent fair value.
Narrative and provenance
Research & Sources
AI Analyst Report
The full analyst report, its figures and the broker-style PDF are available to subscribers and invited guests.
Sign in or enter a guest codeChronological evidenceSource-document inventory17 documents
Verified TAM closing priceMarket Data · HighExtracted
Latest eligible local ordinary-share close before the fixed valuation cutoff.
- Document ID
- market-close-20260925
- Published UTC
- 2026-09-25T06:00:00Z
- Projects
- —
- Commodities
- —
Annual Report for the year ended 30 June 2026Results · HighExtracted
Audited FY2026 accounts confirm June cash and NST investment, lease and rehabilitation liabilities, FY2026 loss and expenditure, current executives and substantial ownership.
- Document ID
- annual-report-2026
- Published UTC
- 2026-09-22T02:39:59Z
- Projects
- central-tanami
- Commodities
- gold
Investor PresentationPresentation · HighExtracted
Issuer distributed MGX Central Tanami presentation detailing Groundrush decline, Jims drilling, plant options and FY27 work programme.
- Document ID
- investor-presentation-september-2026
- Published UTC
- 2026-09-03T03:06:00Z
- Projects
- central-tanami
- Commodities
- gold
Groundrush Decline Agreement SignedEconomic Arrangement · HighExtracted
CTPJV signed an approximately A$38 million, 14-month Groundrush decline construction agreement with Macmahon; surface work was underway.
- Document ID
- groundrush-contract-2026
- Published UTC
- 2026-08-30T22:25:00Z
- Projects
- central-tanami
- Commodities
- gold
Quarterly Activities Review & Appendix 5BOperations · HighExtracted
Latest quarter financial, funding, drilling and development update.
- Document ID
- quarterly-june-2026
- Published UTC
- 2026-07-23T22:19:35Z
- Projects
- central-tanami
- Commodities
- gold
Appendix 2AFinancing · HighExtracted
Quotation notice confirming the completed rights-issue share count.
- Document ID
- appendix-2a-june-2026
- Published UTC
- 2026-06-03T00:48:16Z
- Projects
- central-tanami
- Commodities
- gold
Investor PresentationPresentation · HighExtracted
Project, infrastructure, resource and capital-raising presentation.
- Document ID
- investor-presentation-may-2026
- Published UTC
- 2026-05-08T00:18:20Z
- Projects
- central-tanami
- Commodities
- gold
Quarterly Activities Review & Appendix 5BOperations · HighExtracted
March-quarter update covering the planned Groundrush decline and permitting.
- Document ID
- quarterly-march-2026
- Published UTC
- 2026-04-26T22:55:28Z
- Projects
- central-tanami
- Commodities
- gold
Half Yearly Report and AccountsResults · HighExtracted
Half-year financial statements and post-period partner transition update.
- Document ID
- half-year-report-2026
- Published UTC
- 2026-03-16T07:25:47Z
- Projects
- central-tanami
- Commodities
- gold
MGX: Completion of CTPJV acquisitionTransaction · HighExtracted
MGX confirmed completion of its acquisition of the other 50% CTPJV interest.
- Document ID
- mgx-acquisition-completion
- Published UTC
- 2026-02-05T21:18:24Z
- Projects
- central-tanami
- Commodities
- gold
Quarterly Activities Review & Appendix 5BOperations · HighExtracted
December-quarter drilling, resource and liquidity update.
- Document ID
- quarterly-december-2025
- Published UTC
- 2026-01-28T21:11:45Z
- Projects
- central-tanami
- Commodities
- gold
Mineral Resources UpdateResource Update · HighExtracted
Current JORC 2012 Mineral Resource update totaling 2.8 Moz on a 100% JV basis.
- Document ID
- resource-update-2025
- Published UTC
- 2025-11-06T21:22:27Z
- Projects
- central-tanami
- Commodities
- gold
Quarterly Activities Review & Appendix 5BOperations · HighExtracted
September-quarter drilling, liquidity and JV funding update.
- Document ID
- quarterly-september-2025
- Published UTC
- 2025-10-29T22:53:38Z
- Projects
- central-tanami
- Commodities
- gold
Annual Report to ShareholdersResults · HighExtracted
FY2025 audited accounts and corporate review.
- Document ID
- annual-report-2025
- Published UTC
- 2025-09-26T03:10:12Z
- Projects
- central-tanami
- Commodities
- gold
Agreement to acquire 50% of the Central Tanami Gold ProjectTransaction · HighExtracted
MGX agreed to buy the other 50% CTPJV interest and adjacent tenure for A$50 million.
- Document ID
- mgx-acquisition-agreement
- Published UTC
- 2025-07-15T22:20:28Z
- Projects
- central-tanami
- Commodities
- gold
Annual Mineral Resource StatementResource Update · HighExtracted
Superseded June 2023 project-wide resource statement retained for chronology.
- Document ID
- annual-resource-2023
- Published UTC
- 2023-09-13T23:19:28Z
- Projects
- central-tanami
- Commodities
- gold
Mineral Resource UpdateResource Update · HighExtracted
Superseded 2023 Molech resource update retained for chronology.
- Document ID
- molech-resource-2023
- Published UTC
- 2023-08-29T23:30:25Z
- Projects
- central-tanami
- Commodities
- gold
Evidence facts67
96000 oz Au
2023-06-302600000 oz Au
2023-06-3050000000 AUD
2025-07-1661 AUD/oz
2025-07-1618872000 AUD
2025-06-301175097046 shares
2025-06-3016013000 AUD
2025-09-3010153.1 m
2025-09-3031000000 tonnes
2025-09-302.8 g/t Au
2025-09-302800000 oz Au
2025-09-301200000 oz Au
2025-09-303500 AUD/oz
2025-09-3014439000 AUD
2025-12-316095000 AUD
2025-12-3150000000 AUD
2026-02-0650 %
2026-02-0614439000 AUD
2025-12-311175097046 shares
2025-12-3112880000 AUD
2026-03-3138000000 AUD
2026-04-273500 m
2026-04-27True None
2026-03-3120000000 AUD
2026-05-081200000 tonnes/year
2026-05-0840000000 AUD
2026-05-083.95 AUD/t milled
2026-05-081175097046 shares
2026-06-032350194092 shares
2026-06-0375943000 AUD
2026-06-309475000 AUD
2026-06-309001000 AUD
2026-06-3070506000 AUD
2026-06-030.06 AUD/share
2026-06-032184 m
2026-06-3034 quarters
2026-06-300 AUD
2026-06-30400000 oz Au
2026-07-2438000000 AUD, 100% JV
2026-08-3114 months
2026-08-31400000 oz Au, greater than
2026-08-312800000 oz Au, 100% JV
2025-09-301200000 oz Au, 100% JV
2025-09-30Groundrush decline, Jims resource drilling, resource updates, metallurgy/FEED and permitting None
2026-09-0375943000 AUD
2026-06-309475000 AUD
2026-06-3055000 AUD
2026-06-304573000 AUD
2026-06-301757000 AUD
2026-06-307559000 AUD
2026-06-308391000 AUD
2026-06-30300745 AUD
2026-06-302050000 AUD
2026-06-301140000 AUD
2026-06-302350194092 shares
2026-09-1643.39 %
2026-09-1680.54 %
2026-09-160 options
2026-09-160.076 AUD/share
2026-09-25264875 shares
2026-09-250.071 AUD/share
2026-08-280.074 AUD/share
2026-08-310.071 AUD/share
2026-09-030.072 AUD/share
2026-09-040.072 AUD/share
2026-09-210.071 AUD/share
2026-09-220.075 AUD/share
2026-09-23Conflicts requiring judgment1
- financial_position.undrawn_facilities
The later statutory June-quarter Appendix 5B reports no facility available at quarter end, superseding the May presentation statement for current liquidity.