Australia's Tanami Gold loses most in 11 years on discounted share offer

Tanami Gold NL

08/05/2026 06:12

** Shares of Australia's Tanami Gold TAM.AX fall as much as 17.4% to A$0.076, biggest intraday pct drop since April 27, 2015

** Stock touches lowest point since December 23, 2025

** Gold explorer says it will raise up to A$70.5 million ($50.90 million) through entitlement offer

** Offer price of A$0.06/share marks a 34.8% discount to firm's last close on 27 April, before it went on a trading halt for the announcement

** Says funds raised to be used to meet project obligations, among others

** Stock down 16.1% so far this week, set for its worst week since mid-March

** Stock down 4.9%, YTD

($1 = $1.0000)

($1 = 1.3850 Australian dollars)

 (Reporting by Aamir Sheik Khalid in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))