TAM 0.00% 7.4¢ tanami gold nl

tanami crunch...

  1. 25,108 Posts.
    Source: http://www.smh.com.au/news/business/thai-coup-no-worries-for-miner/2006/10/31/1162278141189.html?page=fullpage#contentSwap1

    (except from article)

    Tanami crunch

    Back in August Monarch Gold chairman Michael Kiernan said his company was "seriously reviewing" two takeover targets.
    Yesterday, Monarch revealed that one of them was Tanami Gold.

    Monarch agreed to prop up the struggling company with a $2.5 million placement at 20c a share to help fund its Coyote goldmine, which has faced delays in commissioning the treatment plant.

    But given the placement is independent of the merger talks, Monarch noted a potential takeover was not a done deal.

    Tanami Gold shares closed 1.5c higher at 19c, while Monarch share closed 0.5c higher at 25c. Last Monday Tanami announced a 19c call on its 20c contributing shares, which were paid to 1c. That is set for November 16.

 
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