TAM
Market Cap $50m
Cash Balance of A$28 million
Holds 500000 NST Shares = $6m
The Top 20 Shareholders of TAM hold 67.34% of shares on issue.
No 1 Holder Apac Res Mining Ltd = 40%
Holds 60% of the Central Tanami Project
The remaining 40% is owned by NST.
TAM exercised its first put option in July 2018 to sell 15% of the Project to Northern Star Resources Limited (“Northern Star”) for A$20 million cash.
Under the terms of the joint venture, Northern Star WILL SOLE FUND ALL expenditure until commercial production is achieved at the Central Tanami Project.
After commercial production is reached, Northern Star can earn an additional 35% of the Central Tanami Project and Tanami Gold has a second put option to sell its remaining 25% of the project to Northern Star for A$32 million.
In accordance with the joint venture agreement (“JV”), Northern Star Resources Limited (“NST”) is required to sole fund all JV related expenditure until Commercial Production has been achieved, which is defined as the date on which the process plant at the Central Tanami Project (“CTP”) has been refurbished to operating condition and has operated for a continuous 30-day period or has produced 5,000 ounces of gold ore (whichever occurs first).
CTP Resource
Indicated ...
TAM = 11mt @ 2.8g/t
Total indicted + inferred..
TAM = 30mt @ 2.8g/t
Total ounces
TAM = 2 744 000oz
Results Include
NHRC00003: 17m @ 6.03 g/t Au from 17m
NHRC00003: 3m @ 20.47 g/t Au from 140m
NHRC00003: 12m @ 4.58 g/t Au from 147m
NHRC00004: 7m @ 1.96 g/t Au from 175m
NHRC00007: 19m @ 4.64 g/t Au from 136m
NHRC00009: 9m @ 2.56 g/t Au from 81m
NHRC00009: 14m @ 3.19 g/t Au from 150m
NHRC00010: 13m @ 1.63 g/t Au from 10m
NHRC00013: 2m @ 8.51 g/t Au from 0m
NHRC00014: 6m @ 1.69 g/t Au from 103m
NHRC00015: 15m @ 2.89 g/t Au from 92m
NHRC00016: 1m @ 42.1 g/t Au from 0m
Gold Currently sits at $2020 a Ounce,all time high, which makes economics of CTP extremely favourable..
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