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Blackham Resources has a new substantial shareholder

Regal Funds Management now holds a 5.19% interest in the gold producer.
Shareholder sign
A drilling program will start next week at the Matilda-Wiluna Gold Operation.

Blackham Resources Ltd (ASX:BLK) has a new substantial shareholder in Regal Funds Management Pty Limited, which holds an interest of 5.19%.

Regal Funds has purchased almost 65.666 million shares at a price of $0.04 each.

It holds more than 24.8 million shares through Merrill Lynch (Australia) Nominees Pty Limited and more than 40.8 million through UBS Nominees Pty Ltd.

READ: Blackham Resources settles $35.9 million and appoints ex ASX 200 CFO to board

This week Blackham settled a rights issue which raised $35.9 million through the issue of 897.6 million shares and 448.8 million options.

The funds place Blackham in a strong position to execute on its free milling mine plan at the Matilda-Wiluna Gold Operation in Western Australia.

This plan includes exploration focused on growing free milling mine life.

Drilling to start next week

For this purpose, Blackham intends to start an initial drilling program next week.

Drilling will focus on growing free milling reserves through resource conversion and identifying additional mineralisation to maintain a free milling mine life greater than five years.

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