Tanami Gold (TAM)

Shares / Stock Code

TAM

Stock Exchange / Sharemarket

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Tanami Gold (TAM) is an exploration company primarily searching for gold as well as silver, zinc and copper, and has tenements mainly in Australia. Key projects are located at Tanami in Western Australia and in the Alice Springs region of the Northern Territory. Exploration companies aim to discover and delineate occurrences of metals and minerals that can be economically mined and extracted.

The company listed on the Australian stock market (ASX) on 11 December 1986. In mid-2003, the company refocused on its core activities, with an emphasis on gold, and subsequently on 24 November 2003, the company announced that it was the successful bidder for AngloGold’s Western Tanami Project.

With the objective of moving from explorer to producer in 2005, the company’s 2004 exploration programs continue to target gold mineralisation in the Tanami-Arunta Province through a combination of exploration of priority targets developed on 57,642km² of 100% owned tenements in the Northern Territory Tanami-Arunta Province.

Tanami Gold does not have any customers yet as it is still exploring for gold. However, there are many competitors within the Western Australia region, all exploring for gold. Examples of threats include MDS (Midas Resources) and MEE (Metex Resources Limited).

As of June 30, 2009, the Company’s exploration program focused on three areas: Coyote In-Mine Exploration, which includes diamond core drilling from underground positions to upgrade and extend resources and test conceptual targets at depth; Near-Mine / Brownfields Exploration, which includes drilling at numerous drill prospects to identify new satellite or stand-alone open cut and underground gold resources, and Regional Exploration, which consists of drilling programs to test prospective under-explored geological terrane in Trans-Tanami corridor and south of Coyote.