TAM's had a checkered past since beating rivals Aquila, Helix and Troy to the punch on Coyote, and then surviving nearly going under in Nov 2008 to now forecasting 300,000 oz pa gold production in 3 years.
Finally got it's act together and looking forward to next assay results and quarterly where costs should have fallen and production increased.
Throw in the ABM exploration interests and what it's maybe sitting on around Coyote, Bald Hill, Sandpiper, Camel, etc and holders can take heart.
I'm no geo but if you care to peruse any research on seismic data from Uni of WA done in conjuction with TAM and Newmont on Tanami/Arunta fault lines, you might agree with me that the concentration of targets around Coyote might just be the proverbial tip of the iceberg.
SMH Article 22/11/2003
Tanami news ahead
Tanami Gold is expected to announce that it has acquired AngloGold's 310,000 ounce Coyote gold project on the West Australia side of the Tanami/Arunta gold province in central Australia.
While the announcement would come as no real surprise - Tanami has a further 180,000 ounces nearby at Larranganni - the company is believed to have beaten offers from the likes of Helix Resources, Troy Resources and Aquila Resources for the project.
The high-grade resource (at least 300,000 ounces in an open-cut position at about 7 grams of gold a tonne) was expected to fetch about $10 million to $15 million.
Last week Tanami raised $3.47 million through Austock Brokers with about $1 million of that used to acquire a further 5 million shares in Pilbara Mining, a company in which Tanami took a 15 per cent stake and management of in August.
GL to all the patient TAMites, chicken
TAM Price at posting:
5.5¢ Sentiment: Hold Disclosure: Held
