Sign up Australia
Proactive Investors - Run By Investors For Investors

Blackham Resources shares are highly sort after in oversubscribed raising

Blackham has commenced a 60,000 metres drill program.
Blackham Resources shares are highly sort after in oversubscribed raising
Strong forecast gold production for 2017

Blackham Resources (ASX:BLK) has raised A$35 million at $0.68 per share through a heavily-oversubscribed placement.

Support came from institutions, and both existing and new shareholders.

The funds will be used at the company's wholly-owned Matilda/Wiluna Gold Operation to fast track its existing growth strategy.

Bryan Dixon, managing director, commented:

"The funding allows for the Wiluna expansion studies aimed at lifting plant throughput to 3.2Mtpa.

"Geological and mining studies to date demonstrate strong grades for an operation of this size.

"The initial expansion plan is expected to be completed in the near term and having a strengthened balance sheet will allow us to expedite Blackham’s sizeable growth plans."


Having a strengthened balance sheet will enable Blackham to:

- Expedite the conversion of the large resource base into reserves;
- Improve and lengthen the mine life;
- Accelerate studies to enhance the Stage 2 expansion economics; and
- Commit to Stage 2 engineering and long lead items immediately on finalisation of feasibility.

Expanded drilling program

Blackham has commenced a 60,000 metres drill program around the Wiluna Open pits, with two reverse circulation and one diamond rig double shifting.

The goal is to upgrade the confidence of the resources to measured and indicated over the next two months.

View full BLK profile View Profile

Blackham Resources Ltd Timeline

Related Articles

zeolite mine
September 15 2018
Zeolite may not be the most well-known mineral but it has wide applications, such as use in animal feed, as a pozzolan in cement and as an additive to soil, which could be used for cannabis plants
Pan African Resources
September 06 2018
Pan African Resources has more than doubled its mineral resource estimate at the Royal Sheba project after results from the latest round of drilling beat expectations.
September 17 2018
Cradle Arc is ramping up copper production at its Mowana project, and further expansion is on the cards

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use