Negative Investor’s Sentiments Driven By ASX Query Pushes Tanami’s Shares In Red

  • Jan 08, 2019 AEDT
  • Team Kalkine
Negative Investor’s Sentiments Driven By ASX Query Pushes Tanami’s Shares In Red

Tanami Gold NL (ASX: TAM) recently responded to the query of ASX based on the price and volume of the stock traded of Tanami Gold. The ASX made a query to the company noting that the price of the stock moved from a low of $0.041 to a high price of $0.049 as on January 7, 2019, with a significant increase in volumes traded from January 4 to January 7, 2019. 

The company, however, mentioned that it is not aware of any such information that has not been announced and which if known to investor/s could be a reason for the recent trading of the stock of the company. The company confirmed its compliance with the listing rule 3.1 and confirmed that the response of the company to ASX, had been authorized and approved under the published continuous disclosure policy.

On November 27, 2018, the company has announced the restructuring of its board of directors and the appointment of Mr. Brett Smith as a non-independent, non-executive director effective from then. Mr. Smith was responsible for developments of several, mining and mineral processing projects including coal, iron ore, base, and precious metals. He also has more than thirty years of international experience in engineering, construction, and processing of mineral businesses. Moreover, he served as a board member of private mining and exploration companies.

However, as a part of board restructuring, Mr. Gerrard McMahon has stepped down as chairman but will remain on the board of the company as an independent non-executive director. Non-executive director Mr. Arthur Dew has been appointed as non-independent chairman of the board of directors.

Let us have an idea about the financial performance of the company over the past year. Tanami Gold posted a profit of $12.41 million as on June 30, 2018, as compared to a loss of $4.6 million in the previous year, a significant increase Y-O-Y. The total assets of the company stood at $$30.572 million in FY 2018 as compared to $27.987 million in FY 2017, an increase of approximately 9.25%. The net cash outflow from operating activities stood at $1.88 million in FY 2018 as compared to $6.05 million in FY 2017; however, the cash flow from investing activities are reported to be $5.85 million in FY 2018 as compared to $1.45 million in FY 2017.

Now, let us quickly look at the performance of Tanami’s stock and the return it has posted over the last few months. The stock is currently trading at $0.044, which is also the day’s low price. The stock opened at $0.046 and posted a day’s high of $0.047. The stock slipped by 6.38% approximately during the day’s trade driven by negative investors sentiments on the announcement of ASX price and volume related query to the company. The company posted a YTD return of 20.51% and produced a return of 34.29% over the last six months period. It has a 52-week high price of $0.049 and a 52-week low price of $0.029.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


All pictures are copyright to their respective owner(s) does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK