The Swiss multinational investment bank and financial services company has a 5.77% stake in Blackham after acquiring 573.37 million shares.
Stage-1 sulphide reserve development
Blackham’s Matilda-Wiluna gold operation in WA is a free milling, open-pit mining operation supported by reserves at the Matilda, Wiluna and Williamson open pit mines and the Golden Age underground mine.
The company recently raised $52 million in equity from existing shareholders and global institutions who joined the registry for the first time, as well as major shareholder Delphi AG of Germany, to advance stage-1 expansion at the Wiluna Gold Mine.
The stage-1 sulphide expansion project aims to see underground production ramp-up through FY 2021 to 100-120,000 ounces per annum over an initial 6-year underground mine plan.
Wiluna is endowed with a large underground sulphide resource that stands at 18.5 million tonnes at 4.82 g/t for 2.9 million ounces, including 1.7 million ounces (58%) in the inferred category, which presents the company with substantial reserve conversion and life-of-mine extension opportunities