Tama Gold, a gold exploration company operating in southern Kazakhstan, posted a net loss of 503 million tenge in 2025, significantly widening from a loss of 16.7 million tenge the previous year, according to the website infohub.kz.
According to its financial statements, the company recorded no revenue in 2024 or 2025. Accumulated retained losses stood at 537 million tenge as of the end of 2025.
99% of Tama Gold's shares are owned by private company Altynqonys Resources Ltd., with the remaining 1% held by director Olga Te. Altynqonys Resources Ltd. is itself owned by Atlas Minerals Ltd. (co-owners: Bekezhan Daurenkulov, Margulan Meirmanov, and Serik Sharipov) and Greenrock Minerals Ltd. (co-owners: Tasbolat Abdullin, Askar Duisenbaev, and Gennady Morozov).
The entrepreneurs also hold stakes in other companies, according to data from the Adata service. Tasbolat Abdullin is a co-owner of Eurasian Minerals, Qazagrominerals, Dostyq Centre, Crane Towers, Golf Resort, Geo Miners Group Ltd., Sensata Ltd., Blaze Development, Uniton, Greenrock Minerals Ltd., SG Minerals, and Sensata Home Group. Askar Duisenbaev is also a co-owner of Uniton, Geo Miners Group Ltd., Blaze Development, Sensata Home Group, Dostyq Centre, Sensata Ltd., Crane Towers, SG Minerals, Golf Resort, Eurasian Minerals, and Qazagrominerals. Gennady Morozov is a co-owner of Blaze Development, VDS Kazakhstan, Nura Property, HS Group, Morrow Rent, Sensata Home Group, Turion Investment Group Development, Qazagrominerals, Golf Resort, the charitable foundation "Nura Zhastar", Sensata Ltd., Greenrock Minerals Ltd., and SG Minerals.
Tama Gold obtained a six-year exploration license on November 25, 2020, covering nine blocks at the Altynkonys site spanning 22 square kilometers, but relinquished the license on July 17, 2025. The company did not disclose what results were achieved during the exploration work – its financial report only listed expenses for drilling and exploration services. Typically, returning an exploration license indicates the operator did not find significant reserves. However, the company stated it is considering plans to obtain new exploration licenses.
Earlier, Tama Gold reported that the Altynkonys site is located in the southern mountainous part of the Dzungarian Alatau. The company planned to conduct field work using bulldozers, drilling rigs, and other equipment starting in 2021. It used loans from Megapolis Capital and Altynqonys Resources Ltd. to fund its operations.