Australia's Tanami Gold rises on deal to restructure JV with Northern Star

Tanami Gold NL

10/05/2021 02:59

** Shares of Gold producer Tanami Gold NL  TAM.AX  up as
much as 28.6% at A$0.099, their biggest intraday pct gain since
Feb. 26, 2015 and at highest level since Oct. 4, 2016
    ** Says agreed to form new joint venture with Northern Star
Resources  NST.AX  to restructure Central Tanami JV with
Northern Australia  urn:newsml:reuters.com:*:nASX2McJQQ
    ** Under agreement, Northern Star will purchase a further
10% interest in Central Tanami project for A$15 mln ($11.78 mln)
cash, increasing stake to 50%
    ** About 2 mln shares change hands vs. 30-day average volume
of about 395,000 shares
    ** TAM down 8.31% this year, as of last close
       


($1 = 1.2737 Australian dollars)

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))