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I've been watching this mob for a while for some positive action to happen, we may be getting it now. Bid/Ask volume ratio now 3.7:1, solid support there! Looking for a position now?
TAM - Tanami Gold
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So_Cynical
The Contrarian Averager
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Uncle Festivus
Why TAM over others...whats the attraction
when compared to the other 3 or 4 junior/small..soon to be producers like
VRE View
IAU Intrepid
NGF Norton
ARX Austindo
Why TAM over others...whats the attraction
when compared to the other 3 or 4 junior/small..soon to be producers like
VRE View
IAU Intrepid
NGF Norton
ARX Austindo
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Yes, directors accumulating is always a good sign. Could some with t/a skills describe for me what they see on the 2 year daily please? Is it prime for breakout mode?
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I've attached a snapshot of the depth below so everyone can see what you're talking about.
Chart below. Pretty plain and simple. Don't know what else to look out for...
Attachments
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Not really comparing to anything else, just liking the stats coming out lately eg -
Directors buying
Funds topped up
Better mining fundamentals, eg increasing production at good head grade
Negs - lot's of script
Stole this article from a poster on HC (thanks mate):
Tanami Gold set to begin drilling near NT/WA border
Posted Thu Nov 22, 2007 2:49pm AEDT
Tanami Gold will start drilling high grade ore at the base of its open pit mine near the Northern Territory-Western Australia border in the next few weeks.
Gold recovery last year was below expectations and led to the sacking of the company's mine manager, Bemax Corporation.
Tanami Gold's executive chairman, Dennis Waddell, says there has been a consistent increase in gold production since July.
"We're right on the verge of starting the portal in the next couple of weeks. We then develop a decline which is a tunnel which takes us down into the underground and then we can develop the development drive which then gives us access to the very high grade material which is what the project's all about," he said.
Source: http://www.abc.net.au/news/stories/2007/11/22/2098241.htm
Tanami Gold set to begin drilling near NT/WA border
Posted Thu Nov 22, 2007 2:49pm AEDT
Tanami Gold will start drilling high grade ore at the base of its open pit mine near the Northern Territory-Western Australia border in the next few weeks.
Gold recovery last year was below expectations and led to the sacking of the company's mine manager, Bemax Corporation.
Tanami Gold's executive chairman, Dennis Waddell, says there has been a consistent increase in gold production since July.
"We're right on the verge of starting the portal in the next couple of weeks. We then develop a decline which is a tunnel which takes us down into the underground and then we can develop the development drive which then gives us access to the very high grade material which is what the project's all about," he said.
Source: http://www.abc.net.au/news/stories/2007/11/22/2098241.htm
and another one....
Coyote goes for gold
The opening came as Tanami Gold announced its Coyote project, near the Northern Territory - Western Australia border, will become profitable by June next year.
The company says gold yields have improved since it sacked its contractor BeMax Corporation as mine manager last year.
It will start drilling high grade ore at the base of its open pit mine in the next few weeks.
Tanami Gold's executive chairman Dennis Waddell says there's been a consistent increase in gold production since July.
"We've weathered the storm and the real key value of the project is the high grade underground and we're only just about to access that now. We're getting very high recoveries and high grades and we've finally got it back on track. I think the next 12 months we'll see a very strong turnaround," he said.
Source: http://www.abc.net.au/news/stories/2007/11/22/2097756.htm
Coyote goes for gold
The opening came as Tanami Gold announced its Coyote project, near the Northern Territory - Western Australia border, will become profitable by June next year.
The company says gold yields have improved since it sacked its contractor BeMax Corporation as mine manager last year.
It will start drilling high grade ore at the base of its open pit mine in the next few weeks.
Tanami Gold's executive chairman Dennis Waddell says there's been a consistent increase in gold production since July.
"We've weathered the storm and the real key value of the project is the high grade underground and we're only just about to access that now. We're getting very high recoveries and high grades and we've finally got it back on track. I think the next 12 months we'll see a very strong turnaround," he said.
Source: http://www.abc.net.au/news/stories/2007/11/22/2097756.htm
Coyote Gold Project - Further Production Increase
http://www.tanami.com.au/images/documents/20071207_ASX_Update.pdf
http://www.tanami.com.au/images/documents/20071207_ASX_Update.pdf
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Getting some positive momentum with recurring good announcements. If you are patient this one will reward, next year? Nothing really from a technical view, although there is solid support for accumulation around 10-12c, just improving fundamentals and exploration upside.
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frog had excited visitor early dec wanting info on TAM as (usual hype) "a mate's brother is driller for them and advised bro to buy as strong visuals on drilling - yarda yarda"
so walked through the research with him and decided with all factored we should all hold a few so bought in at 12c
will now wait for anns and see how extensive the "strong visuals" are
ps without rechecking I think the research indicated they were unhedged and Oz gold value fast heading for $1000/oz also attracts
so walked through the research with him and decided with all factored we should all hold a few so bought in at 12c
will now wait for anns and see how extensive the "strong visuals" are
ps without rechecking I think the research indicated they were unhedged and Oz gold value fast heading for $1000/oz also attracts
Nice volume and positive movement today on the back of a great announcement:
COYOTE GOLD PROJECT – CONTINUED INCREASE IN PRODUCTION
http://www.tanami.com.au/images/documents/20080111_ASX_Update.pdf
Tanami have exceeded their gold production budget for Dec 07 by 45%.
Report also mentions they are ready to move Coyote underground.
Interesting times ahead.
DYOR.
COYOTE GOLD PROJECT – CONTINUED INCREASE IN PRODUCTION
http://www.tanami.com.au/images/documents/20080111_ASX_Update.pdf
Tanami have exceeded their gold production budget for Dec 07 by 45%.
Report also mentions they are ready to move Coyote underground.
Interesting times ahead.
DYOR.
No doubt about it. 2008 will be the first of many vintage years, for Tanami Gold (TAM) !
Visit >>> www.tanami.com.au
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c'mon team, you missed the real juicy bit
The Company remains debt and gold hedge free.
Yours faithfully
Tanami Gold NL
The Company remains debt and gold hedge free.
Yours faithfully
Tanami Gold NL
From www.minesite.com ; 13 Jan 08
Minews. More prices from the gold sector please, and then a run down of the rest of the market.
Oz. A call of the gold card looks like this. Centamin (CNT) continues to power along as its Sukari project looks better by the month. It closed the week at A$1.57, up A12 cents (8.3 per cent), but did go as far as A$1.63 on Friday, a 12-month high and probably an all-time high for a company which has spent more than a decade trying to get into production. Allied Gold (ALD) was another mid-tier favourite as it makes brisk progress on its Simberi project in Papua New Guinea. It added A9 cents (10.8 per cent) to A92 cents.
Other rises worth noting included: Tanami (TAM), up A1.5 cents (11.5 per cent) to A14.5 cents, and definitely worth a more detailed report some time next week.
Norton Goldfields (NGF), the new owner of the Paddington processing plant near Kalgoorlie, added A12 cents (24 per cent) to A62 cents with most of that coming from a belated recognition that the company owns one of the best gold mills in the world. Resolute (RSG) was another gold producer winning late respect for its revival plans. It rose A23 cents (12.3 per cent) to A$2.10.
Minews. More prices from the gold sector please, and then a run down of the rest of the market.
Oz. A call of the gold card looks like this. Centamin (CNT) continues to power along as its Sukari project looks better by the month. It closed the week at A$1.57, up A12 cents (8.3 per cent), but did go as far as A$1.63 on Friday, a 12-month high and probably an all-time high for a company which has spent more than a decade trying to get into production. Allied Gold (ALD) was another mid-tier favourite as it makes brisk progress on its Simberi project in Papua New Guinea. It added A9 cents (10.8 per cent) to A92 cents.
Other rises worth noting included: Tanami (TAM), up A1.5 cents (11.5 per cent) to A14.5 cents, and definitely worth a more detailed report some time next week.
Norton Goldfields (NGF), the new owner of the Paddington processing plant near Kalgoorlie, added A12 cents (24 per cent) to A62 cents with most of that coming from a belated recognition that the company owns one of the best gold mills in the world. Resolute (RSG) was another gold producer winning late respect for its revival plans. It rose A23 cents (12.3 per cent) to A$2.10.
explod
explod
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I like the look of the weekly chart on this. An uptick near to hand by the looks. And the current gold price movement will give an extra boost.
Attachments
January 16, 2008
Tanami Gold Seems To Have Got Things Right At Last.
By Our Man In Oz
www.minesite.com
Holidays have been a rare treat for Dennis Waddell over the past few years. Trouble in the early days of the new Coyote mine of Tanami Gold in Australia’s “top end” meant that every waking hour of the executive chairman was dedicated to overseeing a major re-design of the process plant within months of start-up. Discovering that Waddell had “gone fishing” over January was the first positive clue of a major improvement detected by Minesite when it called last week to see how the overhaul was progressing. The simple fact that Waddell felt sufficiently confident to disappear for a few weeks was an encouraging sign that the worst is over. The second clue, which required far less deduction, was in the numbers flowing from Coyote. For the first time since Tanami commenced work at its remote project, adjacent to the border between Western Australia and the Northern Territory, there is evidence of a strongly rising rate of gold production which is starting to be reflected on the stock market.
Over the past few weeks, thanks also to the contribution from the rising gold price, Tanami has been able to rise above the A13 cent price paid by institutions in mid-2007 when called on to help fund the re-build at Coyote. The latest price is around A14.5 cents. What will be especially pleasing for shareholders is the output data coming from Coyote, together with confirmation of the high-grade nature of the orebody at depth, and fresh drilling results which point to the potential for more rich ore deep under the mine, and in nearby exploration targets.
On the production front, Tanami’s gold output has been trending upward for four consecutive months. From 2,361 ounces in September Coyote rose to 3,170oz in October and 3,822 ounces in November, and then up to 4,787 in December. Two keys factors lie behind the raw numbers. First, the mine itself has reached the high-grade Gonzales lode which yields in excess of 13 grams a tonne, roughly triple what has been mined before. Second, Tanami has resolved its processing problems and has lifted recoveries to around 95 per cent, and is targetting 98 per cent as it fine-tunes the plant.
From now on, in theory, Coyote just gets better. How good? Well, that’s the big question because the project has always had the potential to be something special, in much the same way as other prolific gold mines in the belt that slashes across central Australia, incorporating the 5 million ounce Callie mine and the 1.5 million ounce Granites project. Waddell, in comments made to the stock exchange before reaching for his fishing rod around Christmas, said the immediate target was an annual output of 50,000 ounces, then up to 70,000 ounces, and then a stretch target of 100,000 ounces as reserves are expanded.
More from Waddell’s on-the-record remarks later, but for investors it is worth looking at what those numbers mean if Tanami can also deliver on promised production costs. When Minesite last spoke with him, Waddell said the high-grade underground phase of Coyote, which is just starting, would yield gold in the range of A$400-to-A$450 an ounce. Even if that figure blows out somewhat, say to around A$500 an ounce Tanami is still sitting pretty because the Australian gold price last week slipped quietly past the magic A$1000 an ounce mark. You don’t need a calculator to see that Coyote will soon be spinning off A$25 million in annual gross profit at the lower target production level, A$35 million at the mid-range, and A$50 million at the upper level – assuming a steady gold price and mine costs. Given that the company is capitalised on the ASX at about A$150 million and those potential profit numbers become quite interesting – and that’s before the exploration factor kicks in, something which should not be ignored in a very positive gold market.
Waddell told the ASX that one of the most important developments at Coyote was the deepening of the openpit mine to 65 metres below surface the point at which the Gonzales lode was first encountered. Above Gonzales, the ore mined graded between 3-and-4 grams a tonne, below and it meant pulling out 13 g/t Gonzales ore. “Gaining access to Gonzales ore in October, combined with some higher grade ore from Pit 1, enabled production in October to exceed 3000 ounces for the first time,” he said. “Although we cannot draw too much from the first parcel of the Gonzales ore treated, we are encouraged with the early indications of grade and continuity.” The trick now for Tanami is expand on the production rate and finalise the plant improvements which should see gold recovery rise further.
Over the next few months Coyote will process a mix of low-grade openpit material and higher grade development ore from Gonzales. By June, Waddell said, the mine is expected to be “stoping” a minimum of 12,000 tonnes a month of high grade underground ore, sufficient to hit the base case target of 50,000 ounces of gold a year. Next, it’s up to the 70,000 and 100,000 ounce targets. “We don’t need to mine a lot more to lift production from 50, to 70, to 100,000 ounces because Coyote is a high-grade mine,” he said.
Rising production from ore that has been delineated is one step in the rise of Tanami as a significant Australian gold producer. Important as that is, if only so Waddell can show his institutional investor supporters that they have back a good thing, is the future – and that’s when Tanami has a lot to talk about. Under the rich Gonzales lode is the equally rich Bugsy and Muttley lodes, plus the recently discovered Peacemaker lode, plus what lies deeper than the 200 metre limit which has been the depth of most drilling so far, plus the ultimate blue-sky potential of the company’s extensive land holding. It might be a little early, and Coyote has disappointed in the past, but developments at Tanami make it a company well-worth a fresh look as one of Australia’s top gold revival stories.
Tanami Gold Seems To Have Got Things Right At Last.
By Our Man In Oz
www.minesite.com
Holidays have been a rare treat for Dennis Waddell over the past few years. Trouble in the early days of the new Coyote mine of Tanami Gold in Australia’s “top end” meant that every waking hour of the executive chairman was dedicated to overseeing a major re-design of the process plant within months of start-up. Discovering that Waddell had “gone fishing” over January was the first positive clue of a major improvement detected by Minesite when it called last week to see how the overhaul was progressing. The simple fact that Waddell felt sufficiently confident to disappear for a few weeks was an encouraging sign that the worst is over. The second clue, which required far less deduction, was in the numbers flowing from Coyote. For the first time since Tanami commenced work at its remote project, adjacent to the border between Western Australia and the Northern Territory, there is evidence of a strongly rising rate of gold production which is starting to be reflected on the stock market.
Over the past few weeks, thanks also to the contribution from the rising gold price, Tanami has been able to rise above the A13 cent price paid by institutions in mid-2007 when called on to help fund the re-build at Coyote. The latest price is around A14.5 cents. What will be especially pleasing for shareholders is the output data coming from Coyote, together with confirmation of the high-grade nature of the orebody at depth, and fresh drilling results which point to the potential for more rich ore deep under the mine, and in nearby exploration targets.
On the production front, Tanami’s gold output has been trending upward for four consecutive months. From 2,361 ounces in September Coyote rose to 3,170oz in October and 3,822 ounces in November, and then up to 4,787 in December. Two keys factors lie behind the raw numbers. First, the mine itself has reached the high-grade Gonzales lode which yields in excess of 13 grams a tonne, roughly triple what has been mined before. Second, Tanami has resolved its processing problems and has lifted recoveries to around 95 per cent, and is targetting 98 per cent as it fine-tunes the plant.
From now on, in theory, Coyote just gets better. How good? Well, that’s the big question because the project has always had the potential to be something special, in much the same way as other prolific gold mines in the belt that slashes across central Australia, incorporating the 5 million ounce Callie mine and the 1.5 million ounce Granites project. Waddell, in comments made to the stock exchange before reaching for his fishing rod around Christmas, said the immediate target was an annual output of 50,000 ounces, then up to 70,000 ounces, and then a stretch target of 100,000 ounces as reserves are expanded.
More from Waddell’s on-the-record remarks later, but for investors it is worth looking at what those numbers mean if Tanami can also deliver on promised production costs. When Minesite last spoke with him, Waddell said the high-grade underground phase of Coyote, which is just starting, would yield gold in the range of A$400-to-A$450 an ounce. Even if that figure blows out somewhat, say to around A$500 an ounce Tanami is still sitting pretty because the Australian gold price last week slipped quietly past the magic A$1000 an ounce mark. You don’t need a calculator to see that Coyote will soon be spinning off A$25 million in annual gross profit at the lower target production level, A$35 million at the mid-range, and A$50 million at the upper level – assuming a steady gold price and mine costs. Given that the company is capitalised on the ASX at about A$150 million and those potential profit numbers become quite interesting – and that’s before the exploration factor kicks in, something which should not be ignored in a very positive gold market.
Waddell told the ASX that one of the most important developments at Coyote was the deepening of the openpit mine to 65 metres below surface the point at which the Gonzales lode was first encountered. Above Gonzales, the ore mined graded between 3-and-4 grams a tonne, below and it meant pulling out 13 g/t Gonzales ore. “Gaining access to Gonzales ore in October, combined with some higher grade ore from Pit 1, enabled production in October to exceed 3000 ounces for the first time,” he said. “Although we cannot draw too much from the first parcel of the Gonzales ore treated, we are encouraged with the early indications of grade and continuity.” The trick now for Tanami is expand on the production rate and finalise the plant improvements which should see gold recovery rise further.
Over the next few months Coyote will process a mix of low-grade openpit material and higher grade development ore from Gonzales. By June, Waddell said, the mine is expected to be “stoping” a minimum of 12,000 tonnes a month of high grade underground ore, sufficient to hit the base case target of 50,000 ounces of gold a year. Next, it’s up to the 70,000 and 100,000 ounce targets. “We don’t need to mine a lot more to lift production from 50, to 70, to 100,000 ounces because Coyote is a high-grade mine,” he said.
Rising production from ore that has been delineated is one step in the rise of Tanami as a significant Australian gold producer. Important as that is, if only so Waddell can show his institutional investor supporters that they have back a good thing, is the future – and that’s when Tanami has a lot to talk about. Under the rich Gonzales lode is the equally rich Bugsy and Muttley lodes, plus the recently discovered Peacemaker lode, plus what lies deeper than the 200 metre limit which has been the depth of most drilling so far, plus the ultimate blue-sky potential of the company’s extensive land holding. It might be a little early, and Coyote has disappointed in the past, but developments at Tanami make it a company well-worth a fresh look as one of Australia’s top gold revival stories.
Thats a great article drill. thanks for that.
I bought some of these last week on the back of those increasing Au production figures and apparently more to come .. seems like a no-brainer.... lets hope TAM gets some attention from the punters - articles like that one won't hurt!!
Our Man In OZ (20 Jan 08) had this brief comment about TAM's performance, last week.
Source: www.minesite.com/aus.html
Minews. There seem to have been some pretty heavy falls for a week when your gold price rose a few dollars.
Oz. Interesting, isn’t it. A reasonable person might argue that the trend had nothing whatsoever to do with the fundamentals of the gold market and everything to do with the herd panicking over the troubles in the financial sector and what that might do to personal financial arrangements.
A few more gold prices before shifting to other sectors. Tanami (TAM), which we took a look at a few days ago, came through relatively unscathed with a fall of A1 cent (6.9 per cent) to A13.5 cents. Kentor (KGL), another stock we reviewed a few days ago, was less fortunate, plunging A5 cents (23.3 per cent) to A16.5 cents despite no fresh news from its exploration projects in Kyrgyzstan. Norton Goldfields, the new owner of big Paddington processing plant, slipped A3 cents (4.8 per cent) to A59 cents. OceanaGold (OCG) was down A5 cents (1.8 per cent) to A$2.62, and Dragon (DRA) lost half-a-cent (3.3 per cent) to A14.5 cents.
Source: www.minesite.com/aus.html
Minews. There seem to have been some pretty heavy falls for a week when your gold price rose a few dollars.
Oz. Interesting, isn’t it. A reasonable person might argue that the trend had nothing whatsoever to do with the fundamentals of the gold market and everything to do with the herd panicking over the troubles in the financial sector and what that might do to personal financial arrangements.
A few more gold prices before shifting to other sectors. Tanami (TAM), which we took a look at a few days ago, came through relatively unscathed with a fall of A1 cent (6.9 per cent) to A13.5 cents. Kentor (KGL), another stock we reviewed a few days ago, was less fortunate, plunging A5 cents (23.3 per cent) to A16.5 cents despite no fresh news from its exploration projects in Kyrgyzstan. Norton Goldfields, the new owner of big Paddington processing plant, slipped A3 cents (4.8 per cent) to A59 cents. OceanaGold (OCG) was down A5 cents (1.8 per cent) to A$2.62, and Dragon (DRA) lost half-a-cent (3.3 per cent) to A14.5 cents.
