Latest Central Tanami News

MGX Resources has reported a $30.2 million FY2026 net loss as it winds down Koolan Island and redirects its balance sheet towards the 50%-owned Central Tanami gold project. The company still held $412.1 million in cash and investments at year-end, but its next phase will require execution across approvals, drilling and underground development.

MGX Resources has reported its first Central Tanami resource statement since acquiring a 50% stake, giving the company an attributable 1.4 million ounces of gold. The shift comes as Koolan Island’s remaining iron ore resources fall to 3.3 million tonnes and its Ore Reserves are reduced to zero ahead of a planned divestment.

Tanami Gold has entered FY27 with funding in place for a 3,500-metre underground decline at Groundrush, after raising $70.5 million and reporting a 2.8 million ounce Central Tanami resource. The project remains in the study and resource-definition phase, with no Ore Reserve or production decision yet disclosed.

Tanami Gold’s Central Tanami Project Joint Venture has inked a $38 million contract with Macmahon to build a 3.5km underground decline, setting the stage for a major resource upgrade and development decision in 2027.

MGX Resources and Tanami Gold have contracted Macmahon Underground for a $38 million build of a 3.5km underground decline at Groundrush, aiming to upgrade 400,000 ounces of inferred gold resources and push the Central Tanami Project towards a 2027 development decision.

Tanami Gold has secured $70.5 million through a fully underwritten rights issue to fund its Central Tanami Project development, including a major underground decline and resumed drilling at Jims Gold Mine.

MGX Resources is accelerating development at its Central Tanami gold project with underground exploration and resource drilling, while monetising Koolan Island through a $20.2 million sale plus future revenue share, bolstering its cash reserves.

MGX Resources is set to exit its Koolan Island iron ore operation, selling to Crestlink for $20.2 million upfront plus potential revenue share, while shifting focus to gold development.

Tanami Gold has launched a fully underwritten $70.5 million renounceable rights issue priced at 6 cents per share, aiming to finance its 50% stake in the Central Tanami Project. The offer is open to eligible shareholders across select jurisdictions and runs until 27 May 2026.

Tanami Gold NL (ASX:TAM) is raising $70.5 million through a fully underwritten renounceable rights issue priced at $0.06 per share, a 34.78% discount to the last traded price, to finance development of its Central Tanami Project.

Tanami Gold's Central Tanami Project Joint Venture has chosen Macmahon as preferred contractor for a $38 million underground exploration decline at Groundrush, aiming to kick off construction in September 2026.

MGX Resources reported a $20.8 million half-year loss, driven by a major rockfall at Koolan Island that halted mining and triggered a $60 million asset impairment. The company is pivoting towards gold with its recent acquisition of a 50% stake in the Central Tanami Project.