Sign up Australia
Proactive Investors - Run By Investors For Investors

Blackham Resources' funding provides flexibility for growing gold production

Blackham has a 6.2 million ounce gold resource at the Matilda/Wiluna Operation.
Blackham Resources' funding provides flexibility for growing gold production
Gold produced from Wiluna

Blackham Resources Ltd (ASX:BLK) recently revealed that it has an eye on building its wholly-owned Matilda/Wiluna Operation’s into producing +200,000 gold ounces per annum.

This was supported by results from an Expansion Preliminary Feasibility Study (PFS) demonstrating robust economics and improved economies of scale supporting the expansion.

READ NOW: Blackham has potential to join 200,000 gold ounce production club

Blackham has now secured up to $72 million in funds to continue to advance its Expansion Definitive Feasibility Study and manage its balance sheet whilst it continues to demonstrate improving operational cash flows from the operation.

The funding arrangement is underpinned by the ability to draw the funds from The Australian Special Opportunity Fund, a New York-based institutional investor, managed by The Lind Partners.

Bryan Dixon, managing director for Blackham, commented:

"As Blackham demonstrates strengthening production from its gold operations and pushes forward with the Expansion DFS, the Lind Facility gives the company maximum flexibility in choosing the best future funding solution for shareholders to grow the Matilda-Wiluna Gold Operation into a 200,000ozpa long mine life asset."

Jeff Easton, managing director for The Lind, added:

"We are excited to return at this crucial point to fund Blackham and back management as they demonstrate the next chapter of their significant growth story."

WATCH NOW: Blackham Resources gets funding boost to advance expansion feasibility study


The funding provides Blackham with flexibility and time to choose the optimal funding solution going forward.

Under the agreement with Lind, Blackham will receive $1.2 million on execution as a prepayment for fully paid ordinary shares in Blackham.

Blackham has the ability to vary further monthly share subscriptions with Lind between nil and $3 million over the next two years.

The Expansion DFS is expected to be completed by the end of the March quarter 2018.

View full BLK profile View Profile

Blackham Resources Ltd Timeline

Related Articles

Gold wreath
November 13 2017
What makes Lionsgold more than "just another gold mine developer" is its partnership with TRAC, which has developed a trading platform that allows investors to acquire and store physical gold and silver rather than buying into exchange traded funds
June 07 2018
"We acknowledge the continuing disconnect between our share price and the value of our assets when assessed in terms of the in-situ value of our resource and reserve ounces."
Lydian International will be one of the few gold companies to go into production this year
January 10 2018
Lydian International is one of only a handful of companies taking gold projects into production this year

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