Wiluna Mining Corporation Ltd (ASX:WMX) (OTCMKTS:BKHRF), formerly known as Blackham Resources Ltd (ASX:BLK), is embarking on a new chapter after launching its new corporate branding and changing its trading name.
The gold producer is now trading under the name of Wiluna MiningCorporation Ltd and has the ASX code WMX.
It said this new identity represented a resolute departure from the past, and importantly, a renewed focus on the future and announced the company’s new strategic direction, corporate purpose and hunger for future growth.
The Wiluna Mining Operation in Western Australia has a 124-year history in which it has produced more than 4 million ounces of gold from one of the world’s greatest gold endowments.
Strategic transformation initiated last year
Wiluna Mining executive chairman Milan Jerkovic said the change represented a new chapter in the historic Wiluna story and supported the company’s strategic transformation initiated last year.
“We have cleaned up and strengthened our balance sheet including paying off all of our debt, outlined our two-stage development to become a +200,000 ounces per annum, long-life gold producer and signed agreements with two very large groups in Polymetal and Trafigura for 100% of our gold concentrate offtake."
He said the company had also "received credit approval for a $21 million gold swap financing that can increase to $61 million, attracted some excellent new, international institutional shareholders to our share registry and recruited a number of outstanding new individuals to our management and technical team.
“We have also implemented a new operating model to set a platform for future growth.
"Resilient, determined and committed"
"We are in a transitional growth phase and that is not without its challenges, however, we are resilient, determined and above all committed to our shareholders.”
Jerkovic added: “We are working hard every day to build a better, more profitable mining business and this tenacity is what Wiluna Mining stands for.”
“We have a remarkable growth opportunity, we now have the right team in place and we are focused on unearthing the true potential of the Wiluna gold system.
“Wiluna has the potential scale and geology to become one the largest gold mines in a Tier 1 jurisdiction and the best is yet to come,” he concluded.
Following the recent completion of the consolidation of capital, the current capital structure of Wiluna Mining is: