The managing director of a Western Australian gold miner is confident jobs at its Tanami Desert sites in central Australia are safe for some time.
Last September, Tanami Gold took out an emergency short-term unsecured loan worth $7.7 million.
It is now relying on mines at the old Coyote Gold project, west of Alice Springs, to become cashflow positive in the coming months.
Graeme Sloan from Tanami Gold has assured shareholders and employees the company remains in a strong position in the face of a resources slump.
"There's absolutely nothing on the horizon to say that they are anything but safe," he said.
"Can I give you a cast iron guarantee? No-one can. We've got things in place that gives us a bit of comfort, we've got cash in the bank, we're getting close to producing as I said positive cash from an operation."
TAM Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
