TAM - Tanami Gold

[drillinto]

Today's last price: $0.11 (-8.33%)

Sell volume: 2,182,000
Buy volume: 881,491

 

[doctorj]

What's the difference between sell volume and buy volume? A trade is both a buy and a sell...

 

[drillinto]

What's the difference between sell volume and buy volume? A trade is both a buy and a sell...

Buy volume is defined as the volume that occurred at the offer/ask
Sell volume is the volume that occurred at the bid

The difference between the two values(Buy volume minus Sell volume) is referred to the "delta" and can be a good indicator of buying or selling pressure. For example, this morning TAM was under selling pressure and the reason could have been the publication last friday of the 2006 Consolidated Interim Financial Report

Volume can optionally be broken down by "Big vs Small" trade volumes or "Up vs Down Tick" volumes (as opposed to Buy vs Sell volumes). However, "Buy vs Sell volumes" is the most common choice and generaly regarded as the most informative

Any decent Bank/Broker should be able to provide this information on request

 

[exgeo]

.........Global.................Mkt.....Production...Debt
........Resources.............Cap......(Koz/yr).....($m)
GLN.....1.0 .(@2.5g/t)....$38m*......56..........6.8
TAM....0.57 (@4.7g/t)....$80m**....70..........0.0

Of the two, GLN seems to have more near-mine exploration potential, but the higher grade of TAM's orebody is an important plus. Both companies are in production now and both have had commissioning problems although TAM's were an order of magnitude greater (basically they had to rebuild a large part of the plant). I notice that both use(d) Bemex as a mining contractor. TAM have terminated Bemex's contract in Dec 06.

*GLN.. 136m shares @ 23.0c
**TAM 695m shares @ 11.5c

 

[drillinto]

Tanami Gold (TAM) says it has turned the corner, giving the shareholders reason to believe there could be a happy ending come December

 

[Joe Blow]

Tanami Gold (TAM) says it has turned the corner, giving the shareholders reason to believe there could be a happy ending come December

drillinto, you are going to need to be far more specific.

The last announcement by TAM was on March 16th. Can you please provide a specific reference to where the company stated they had "turned the corner" and why shareholders should expect a "happy ending come December".

These references must come directly from a recent company announcement.

 

[drillinto]

drillinto, you are going to need to be far more specific.

The last announcement by TAM was on March 16th. Can you please provide a specific reference to where the company stated they had "turned the corner" and why shareholders should expect a "happy ending come December".

These references must come directly from a recent company announcement.

The most important recent announcement by TAM is from March 6th:

http://www.asx.com.au/asx/statistic...am&timeFrameSearchType=D&releasedDuringCode=M

In this announcement TAM states clearly that "Performance of the treatment plant has improved markedly and the Project is currently achieving +90% gold recovery from the treatment of low grade stockpiles"

The summary of the announcement further indicates that "The planned staged development of the Project over the next four to six months will enable the Company to mine parcels of ore from the open pits which will assist in tonnes and grade reconciliation and in achieving a much higher level of confidence in the geological and structural controls on mineralisation. This increased knowledge will be important in finalising the design of the underground plan to ensure optimal access to the high grade underground ore (+12g/t Au) which is the key to the success of the Project"

One final statement by TAM is pertinent indeed: "The Company remains debt free and has no gold hedging in place"

TAM has turned the corner in the Tanami-Arunta province
TAM is on schedule with the plans to recommence mining by mid-April 2007
Bottom line: Better times for TAM are coming... slowly but steady

 

[drillinto]

TAM: Trading Summary For This Week

Trades: 178

Volume: 12,083,736 shares
Daily average: 2,416,747 shares
Three month average: 1,384,870 shares

High: 0.1250
Low: 0.1150
Last price: 0.1150

Bottom line: TAM is gathering steam to tackle 0.1300

 

[Sean K]

TAM: Trading Summary For This Week

Trades: 178

Volume: 12,083,736 shares
Daily average: 2,416,747 shares
Three month average: 1,384,870 shares

High: 0.1250
Low: 0.1150
Last price: 0.1150

Bottom line: TAM is gathering steam to tackle 0.1300

Clutching at straws there Drill. Low price .115, last price .115 and it's gathering steam? Hmmmm.

On the chart it still looks like it might have found a bottom, but your analysis doesn't quite scan. Can you add some more explanation? Cheers.

 

[dubiousinfo]

I think this will trade sideways until the next quarterly report. The quarterly is due by the end of April and most will be waiting for confirmation that mining operations will actually meet the forecasts before jumping back in. Recently too many of these small gold miners have failed to get anywhere near the production targets despite repeated assurances from management.

However, if the quarterly is positive and points to production targets being met, there is a good chance of some strong gains.

I am not currently holding, but it remains on my watchlist.

 

[drillinto]

[NOTE:This recent announcement by TAM is a must read. You are also urged to read in between the lines...]

TANAMI GOLD NL
Level 4, 50 Colin Street, West Perth, Western Australia, 6005 P.O. Box 1892, West Perth, Western Australia, 6872
Tel: +61 (8) 9212 5999 Fax: +61 (8) 9212 5900 Email: tanamigold@tanami.com.au Website: www.tanami.com.au. ABN: 51 000 617 176

6 March 2007

The Manager
Company Announcement Office
ASX Limited
Exchange Centre, Level 4, 20 Bridge Street
SYDNEY NSW 2000

Dear Sir

COYOTE GOLD PROJECT UPDATE

The Directors are pleased to provide the following update on the Coyote Gold Project.

• Treatment Plant

Performance of the treatment plant has improved markedly and the Project is currently achieving +90%
gold recovery from the treatment of low grade stockpiles. This improvement follows termination of the
services of BeMeX Corporation Pty Ltd in late December 2006 and subsequent successful progress
rectifying design and construction problems associated with the plant.

The plant has now been converted to a conventional carbon-in-pulp (CIP) plant, and the vat leach circuit
removed. Performance of the Knelson concentrator (gravity circuit) has been optimised with only one
concentrator required for operation. The Acacia reactor has been re-commissioned and operator training
has been completed. The gravity circuit optimisation and closed circuit milling has resulted in a gravity
gold recovery of around 75% since early February 2007. Consequently, only low grade feed is currently
going into the leach adsorption circuit. Improvements have been made to the leach tanks and the current
limited leach capacity of this circuit (which is planned to be increased with the installation of more
tankage) has not caused problems with the lower grade ore being treated.

The Project commenced 24-hour operations on 5 February 2007 following the recruitment of a full
operating crew. Consistent operation of the plant has occurred since that time, other than during two
major routine planned stoppages, resulting in the treatment of 11,946 tonnes (approx grade of 1.2 to 1.5
g/t gold) at a throughput rate of 22.3tph. Throughput rates are expected to increase during March 2007
as the ball charge in the mill is brought up to maximum level following the mill reline.

Although only low grade stockpiled ore is currently being treated on a reduced throughput basis, the
modifications completed to date should allow high gold recoveries from higher grade ore following
recommencement of mining.

• Project Review

The detailed review of the Project undertaken by the Tanami Gold operations team and various expert
consultants over recent months is nearing completion. As detailed above, the treatment plant
modifications have progressed very well and the high recovery levels currently being experienced are
expected to continue for the remaining open pit and underground ore.
Visible gold in Coyote core

Following a review of the Project's underground resources/reserves and planned mining method by
mining consultants AMC Consultants Pty Ltd (AMC), the Company has decided to alter the underground
mining method for the Stage 1 mine plan from a long hole stoping method to cut and fill. This method is
considered to be a lower risk option as it will provide improved control over mining dilution and greater
flexibility to recover the multiple narrow high grade veins included in the existing mine plan.
Importantly, the more flexible amended mining method will enable recovery of additional identified high
grade veins that are considered likely to be converted to reserves by underground drilling. There remain
significant underground resources which are not included in the Stage 1 mine plan which will be subject
to underground drilling aimed at converting existing resources to reserves and delineating new
resources/reserves.

Although AMC are satisfied with the classification of the majority of the Gonzales and Buggsy lodes as
indicated underground resources, they have recommended that a number of diamond holes be drilled into
the Mutley lode of the underground resource to achieve a higher level of confidence in the tonnes and
grade of that lode. The Company plans to undertake this drill program before the decline development
commences. A revised ore reserve statement will be compiled after this drilling has been completed and
the resources and reserves have been re-estimated.

As a result of the review, Stage 1 will now cover the next three years of the Project with a base case
production level of approximately 50,000 ounces per annum with the possibility of increasing the
production level as more resources are converted to reserves and additional resources/reserves are
delineated.

The Company will continue the treatment of stockpiles until higher grade open pit ore is available
following the planned recommencement of mining within the next four to six weeks. Based upon the
AMC review, Stage 1 of the Project will include shallower open pits with the decline development
planned to commence in the September 2007 quarter. Importantly, the planned open pit mining will
enable a full reconciliation of grade and tonnes now that the treatment plant is modified to a CIP and is
performing well. As the pit deepens, more continuous higher grade ore blocks will be mined compared
to the ore blocks mined to date from the heavily weathered top benches of the open pit.

In summary, the planned staged development of the Project over the next four to six months will enable
the Company to mine parcels of ore from the open pits which will assist in tonnes and grade
reconciliation and in achieving a much higher level of confidence in the geological and structural
controls on mineralisation. This increased knowledge will be important in finalising the design of the
underground plan to ensure optimal access to the high grade underground ore (+12g/t Au) which is the
key to the success of the Project.

Although the Coyote Gold Project has had a number of start up difficulties, the Board considers that the
Project still holds significant potential to develop into a profitable and expanding operation which can
fund further exploration at and around Coyote together with exploration of the Company's extensive
exploration portfolio located in the Tanami-Arunta Province of Central Australia. The Company remains
debt free and has no gold hedging in place.

Yours faithfully
Tanami Gold NL
Denis Waddell
Executive Chairman

 

[Sean K]

[NOTE:This recent announcement by TAM is a must read. You are also urged to read in between the lines...]

I don't read anything between the lines. This is old news. Stop ramping this stock.

 

[DB008]

l remember going for the offical opening of this mine. The shares were 20cents or so at the time (2006). l was going to buy some shares, as l had actually seen the mine site with my own eyes. Everything look on the up and up, then there were problems at the plant and correction time came in May last year.
Interesting to see what happens now. TAM Gold is a few mines in the Tanamine Desert, border of WA and NT.
Got to see the attorney general, has his own private plane ofcourse.

 

[drillinto]

I don't read anything between the lines. This is old news. Stop ramping this stock.

Thank you for your enlightening comment, Kennas

I am not at all worried if you can't read in between the lines. You are just one of the 7,593 members of the ASF. That's only 0.01317%

The TAM announcement was published March 6, 2007. I doubt you have read it with a minimum of attention. I disagree with you a hundred per cent: a) It is not old; b) It is still a very pertinent read indeed

I entirely disagree with your tunnel vision definition of ramping. I see it otherwise: Stock ramping is a form of price manipulation, and occurs when some market participants act simultaneously to push up a stock price. Further, stock ramping TAM is possible but it would get nowhere. Why? Because the top 20 shareholders control more than 60% of the Ordinary Fully Paid 20 cent shares. Those large shareholders are all long-term(5+ years) and have shown unwavering loyalty to Management during the very difficult second half of 2006.

 

[dubiousinfo]

drillinto

kennas is right.

The announcement provides no solid evidence that TAM will meet production targets. There are just further assurances from management that they believe the problems are solved. The same management that appointed Bemax as mining contractors and the same management that thought the original mill design was suitable. They made mistakes and now need to prove they have it right. Proof in the form of higher ore processing, increased grades and higher recovery rates.

This proof may come in the third quarterly in April, but it may also not come until the fourth quarterly in July.

Until then people will be wary in the light of the many small gold miners that have failed to achieve a profitable mine such as BMO, BDG etc

We all read the announcement back when it came out and the information wont get any better just because you keep requoting it.

If you bought higher and are carrying a loss, just be patient. If you are looking for a quick profit, sell this and buy something else.

 

[drillinto]

TAM's Extra Kick is DYL

Deep Yellow Ltd (DYL) is a prominent uranium explorer

TAM holds about 24 million shares (3.3%) of DYL

TAM is one of the 10 largest DYL's shareholders


Source: Deep Yellow Ltd - Annual Report 2006

Valuation of TAM's Extra Kick:
a) DYL recent close price was 41.5 cps
b) TAM holds about 24 million shares of DYL
c) a x b= A$ 9,960,000
d) c : 695M TAM shares= 1.4382 cps

Bottom line: TAM's Extra Kick is worth 1.4382 cps!

Sources:
www.asx.com.au
Deep Yellow Ltd - Annual Report 2006 (electronic edition)
Tanami Gold NL - Annual Report 2006 (hard copy)

 

[insider]

Has this company closed down yet?

 

[Synergy]

Everyone must have seen your post Drillinto Up very nicely today on good volume. Tomorrow should be interesting.

Cheers

 

[drillinto]

Clutching at straws there Drill. Low price .115, last price .115 and it's gathering steam? Hmmmm.

On the chart it still looks like it might have found a bottom, but your analysis doesn't quite scan. Can you add some more explanation? Cheers.

Kennas: It seems that you might have misread my post. You should have known that a steam locomotive, even the smallest ones [http://www.pnc.com.au/~wallison/getram.jpg], can gather steam while being at standstill. I have spoken of "gathering steam" and not of gathering speed as your comments appear to imply...

Thank you.

 

[nomore4s]

Good rise on excellent vol, ann was quite positive but there is alot of resistance on the chart as marked and will need a bit of momentum to get it through, getting past 14 & 15c maybe difficult, but it may do it as alot of people may see this as undervalued at current price?

I'm not sure and don't know if I willing to part with hard earned yet.