viewWiluna Mining Corporation Ltd

Blackham Resources adds executive Neil Meadows to the board

Meadows joined the Blackham executive team earlier this year as a General Manager focused on the flagship Matilda-Wiluna Gold Operations.

Blackham Resources Ltd - Blackham Resources adds executive Neil Meadows to the board
Blackham is targeting 70,000-80,000 ounces of gold production in FY20

Blackham Resources Ltd (ASX:BLK) has promoted Neil Meadows to be its Operations Director expanding on his previous role as general manager of projects and business improvement.

Meadows has held COO roles for European Metals Holdings, Karara Mining Ltd and Queensland Nickel and was also managing director of IMX Resources Ltd.

Notably, he was the recipient of the Mine Manager of the Year Award through the Sydney Mining Club in 2007 and has held a number of executive roles in the industry.

Help drive expansion development

Blackham’s executive chairman Milan Jerkovich said: “We are very pleased to welcome Neil to the board of Blackham.

“Neil has been a significant contributor to the operational turnaround and business improvement at Wiluna since joining the executive team earlier in the year.

“Neil is a very accomplished and highly regarded executive with a wealth of experience in leadership and management in the Australian resources sector.

“His experience has and will be of great benefit to Blackham as the company prioritises improvements to operational performance and cost reduction to reduce debt and allow for the transition to the Stage 1 Expansion Sulphide Development which will unlock the pathway to further growth and realisation of the large sulphide reserves and resources at Wiluna.”

Targeting production growth in FY20

Blackham has guided to production of between 70,000 and 80,000 ounces of gold at an all-in sustaining cost of A$1,550-$1,750 per ounce in FY2020.

This represents annual production growth of 7-22% on FY19 which produced 65,406 ounces of gold at an AISC of A$1,760 per ounce.

Production in FY20 will be focussed on free milling ore bodies prior to Blackham transitioning to Stage 1 of its Sulphide Expansion Project, which is planned to commence production during FY21.

Production guidance for the current September 2019 quarter is 17,500-19,500 ounces at an AISC of A$1,550-$1,750 per ounce.

Expanding in two stages

Blackham plans to expand production at Matilda-Wiluna through two stages, stage I targeting 100,000-120,000 ounces of gold per annum and stage two increasing to 250,000 ounces per annum.

Stage I focuses on the production of a gold concentrate predominantly from the Wiluna underground with flexibility to also process its free-milling and tailings Reserves.

Quick facts: Wiluna Mining Corporation Ltd

Price: 1.49 AUD

Market: ASX
Market Cap: $149.42 m

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