Tanami Gold NL’s Strong Cash Position and Exploration Progress

Tanami Gold NL (AU:TAM) has released an update.

Tanami Gold NL reported a healthy financial position with $25.271 million in cash and significant holdings of 500,000 shares in Northern Star Resources Limited as of June 30, 2024. The company’s 50% joint venture in the Central Tanami Project with Northern Star has seen increased exploration activities including the drilling of 23 holes for an advance of 3,520 meters, focusing on the development of the Groundrush Gold Deposit and other potential gold deposits in the area. Notably, the CTPJV’s available cash has more than doubled this quarter, reaching $7.27 million, with no lost-time injuries reported.

For further insights into AU:TAM stock, check out TipRanks’ Stock Analysis page.