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.