Blackham Resources Ltd’s (ASX:BLK) (FRA:NZ3) (OTCMKTS:BKHRF) substantial shareholder Delphi Unternehmensberatung Aktiengesellschaft has boosted its stake in the company to 11.47% after a series of on-market purchases.
The prolific Australian junior resources sector investor now holds more than 505 million BLK shares valued in excess of $6.06 million at today’s share price of 1.2 cents.
German-based Delphi has acquired more than 62 million shares in on-market transactions this month at prices ranging from 1 cent to 1.2 cents.
Further development work
This comes as Blackham has recently raised funds to support further development of the operating Matilda-Wiluna Gold Project in Western Australia.
A number of mine development work programs are taking place or planned to assist with production efforts in the 2019-20 financial year.
This work includes pre-production activities at Williamson open pit, a new tailings storage facility and rod mill refurbishment.
Delphi’s major shareholder is Heidelberg-based businessman Wilhelm KT Zours, who has headed and chaired a number of software and strategy companies.
He invests in mining, biotechnology, renewable energy and investment management companies.