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Blackham Resources strengthens board with appointment of corporate lawyer

The company’s goal is to annually produce more than 250,000 ounces at its Matilda-Wiluna Gold Operation with the option to process both styles of free-milling and sulphide mineralisation often seen within the deposit.

Blackham Resources Ltd - Blackham Resources appoints corporate lawyer Sara Kelly as independent non-executive director
The Matilda- Wiluna Gold Operation lies within the Wiluna Domain, one of the three largest gold systems in the region about 530 kilometres north of Kalgoorlie

Blackham Resources Ltd (ASX:BLK) has strengthened its board through the appointment of experienced corporate lawyer Sara Kelly as an independent non-executive director, effective from today.

Kelly is a corporate lawyer and partner at Edwards Mac Scovell Legal, a Perth-based law firm, and has transactional and industry experience having both worked in private practice as a corporate advisor and as in-house counsel.

Her experience spans administration of regulatory frameworks and processes, acquisitions, takeovers, capital raisings and listing of companies on the ASX and AIM.

“Significant benefit to the company”

Blackham executive chairman Milan Jerkovic said: “We are very pleased to welcome Sara Kelly to the board of Blackham.

“In addition to her strong background in corporate and governance matters, Sara’s legal and transactional experience will be of significant benefit to the company as it pursues its expansion plans.”

Indicative term sheet

The company recently signed an updated, indicative term sheet with Mercuria Energy Group providing A$21 million in the form of a prepaid swap on gold with a supporting hedge facility, and an intention to a further A$40 million, for a total of up to A$61 million.

The company has received credit approval from Mercuria for the A$21 million first tranche, which is now only conditional upon finalisation of the usual legal documentation.

The additional A$40 million will be made available upon further certain conditions being satisfied and is not part of Mercuria’s initial credit approval.

Quick facts: Blackham Resources Ltd

Price: 0.016 AUD

ASX:BLK
Market: ASX
Market Cap: $160.45 m
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