Big picture - Why invest in Blackham Resources Ltd
Blackham Resources Ltd Snapshot
Blackham Resources (ASX:BLK) is a progressive gold exploration and development company focused on returning investor value.
Matilda Gold Project
The Matilda Gold Project incorporates over 570 square kilometres of tenements including Regent and the Matilda and Williamson Gold Mines containing total JORC resources of 1.5 million ounces of gold. These tenements cover around 40 kilometres of strike along the Wiluna Mine Sequence and 10 kilometres of strike along the Coles Find Sequence. The Wiluna Mine & Coles Find Sequence has historically produced 4 million ounces of gold.
All the deposits are within 26 kilometres by existing haul roads of the Wiluna Gold Plant. With exploration prospects at Mt Poole, Monarch, Carroll Prior, Red Lady, Zenith, Island and Albion in the Lakeway area provides the company with excellent exploration areas for potential future projects.
Blackham is currently evaluating the resource extensions of each deposit to expand the current inventory of gold to enable the company to move to the next stage of development.
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Scaddan Energy Project Location
The Scaddan coalfield is located approximately 60 kms north of the town of Esperance. The deposit is 10 kms east of the Esperance to Kalgoorlie highway, railway line and gas pipeline.The town of Esperance has a population of approximately 14,000 and has a deep water port and regional power station. The Esperance airport is 20 kms north of the town and 40 kms south of the Scaddan Energy project.
Scaddan Coal Resources
The Scaddan Energy Project has 1.04 billion tonnes of coal resource and Blackham controls landholdings in the Scaddan region in excess of 1,700km2. Runge Limited (“Runge”) completed the resource statement in accordance with the JORC reporting standards. Runge is an internationally respected global consulting company providing resource and mining consulting services and software for more than 30 years
Summary of Resources and Coal Inventory
Category Total Tonnes (million) % of Tonnes
Measured resource 80 6%
Indicated resource 490 38%
Inferred resource 470 36%
Inventory coal (non JORC) 200-320 20%
Total tonnes range 1,240-1,360 100%
The Lignite resource estimate is on a 56% moisture basis and an approximate relative density of 1.2. No thickness or quality cut-offs were applied to the deposit due to the range of ash values all being within the required definition of lignite and the deposit having reasonable prospects for eventual economic extraction as outlined in the Australian “Guidelines for Estimating and Reporting of Inventory Coal, Coal Resources and Coal Reserves”. Exploration drilling, to find and define the Scaddan coalfield, required a total of 1,547 boreholes, 311 of which were cored and 1,236 drilled as open holes. Runge has outlined locations of additional drilling on the Indicated Resource to ensure drill hole spacing is within 500m as required under the “Guidelines for Estimating and Reporting of Inventory Coal, Coal Resources and Coal Reserves” to potentially upgrade the area to a Measured status.
Average seam thickness 8 metres
Low average strip ratio 3.2bcm:1t
Dragline waste removal
Truck and shovel mining of coal seam with in pit crushing and conveying
Very low mining cost of AUD$9/tonne
The Scaddan lignite deposit is close to a major infrastructure corridor that services the Kalgoorlie Esperance region. With rail, road and a gas pipeline all connected to the deep water port of Esperance with the capacity for Cape and Panamax class vessels gives the project a unique advantage over other CTL proposals in Australia.
The majority of the South West is covered by a narrow gauge rail network that links to a standard gauge connecting Perth – Kalgoorlie to the eastern states. The narrow gauge also covers the north south line from Leonora to Esperance. The diagram opposite displays the rail network of the Southwest (Australian Railroad Group 2009). Products currently being transported by rail to Esperance are iron ore, grain and till recently lead and nickel. In the future it is envisaged additional products such as rare earths, zinc and copper will also be transported to the port. Of the total petroleum products imported through the port 75% are railed to the goldfields (Australian Railroad Group 2009).
A natural gas pipeline links Kambalda and Esperance with an average installed capacity of 6 TJ/day. This pipeline is part of a network of gas pipelines in Western Australia supplied by large offshore gas reserves in the Pilbara region of WA. The North West Shelf Venture is currently the largest producer of domestic gas in WA. The Venture is a consortium of five companies with equal participation; Woodside is the operator with other partners BHP Billiton (North West Shelf), BP Developments Australia, Chevron Australia, Japan Australia LNG (MIMI) and Shell Development (Australia) (Chamber of Commerce and Industry WA 2009).
The Esperance Port is administered and run by the Esperance Port Authority which is an agency of the Government of Western Australia. After an upgrade in 2002 the Esperance port became the deepest port in southern Australia, capable of handling Cape Class vessels up to 180,000 tonnes and fully loaded Panamax vessels up to 75,000 tonnes (Esperance Port Authority 2009). The main exports from the port are grain, iron ore and other minerals. According to the 2007-08 Esperance Port Authority Annual Report total port exports were more than 9 million tonnes plus over 700,000 tonnes of imports consisting mainly of fertilisers and petroleum products. The Port is sheltered from the south by a 1,200 metre breakwater. The channel and turning basin for Berths 1 and 2 cover 27ha and is dredged to 14.5 meters. No. 3 Berth and channel is dredged to 19.0 meters (Figure 7) (Esperance Port Authority 2009).
Last updated on January 27 2015
Mr Dixon has substantial experience in the mining sector and in the management of public and listed companies. Previously, Mr Dixon has been employed by KPMG, Resolute Samantha Limited, Société Générale and Archipelago Resources Plc. Mr Dixon also holds non executive director roles with Hodges Resources Limited and Midwinter Resources Limited. Mr Dixon is a Chartered Accountant and brings additional project development, project acquisition, financing and corporate skills to the Company. Mr Dixon is also Chairman of the Scaddan Energy JV Committee.
Mr Murphy is a former banker with extensive experience in finance, strong relationships within the banking, finance and broking community as well as an impeccable reputation in the industry. He has extensive experience in running a large business in a consultative manner, whilst always keeping strategy, direction, results and reputation in focus. His banking experience extends across finance, fixed income, currencies and commodities whilst his geographic experience crosses Australia, Asia and America.
Mr. Thom has extensive experience as a senior manager and executive working in Australia, United Kingdom, Africa and Bangladesh. Alan has managed a number of definitive and bankable feasibility studies for significant resource projects. Mr. Thom has worked alongside major international investment banks including the World Bank, IFC and the Asian Development Bank. Alan holds a Western Australian First Class Mine Mangers Certificate and previously held statutory mine management positions for Newmont in both underground and open pit operations. Mr Thom has consulted to a number of resource companies on project and business development.
Mr Miles has had a successful career in mineral exploration and development of over 16 years in numerous commodities and mineral provinces. Broad technical expertise as a Geologist and Exploration Manager, directing a small, dynamic team as well as Board level experience as a Non-Executive Director. Highlights include the discovery and development of the 40Mt Mount Caudan Iron Ore Deposit, Parker Range Project (Cazaly) and exploration and development of gold resources at West Kalgoorlie (now owned by Phoenix).
Mr Robbins has well over 20 years resource industry experience gathered at both operational and corporate levels, both within Australia and overseas. During that time, he has held numerous project level management positions as well as CFO and Company Secretarial roles with Hodges Resources Ltd, Bannerman Resources Ltd, Moto Gold Mines Ltd and Asian Mineral Resources Limited.
Last updated on January 27 2015
Level 2, 38 Richardson St
Western Australia 6005
PO Box 1412
Western Australia 6872
Phone: +618 9322 6418
Fax: +618 9322 6398