Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Blackham Resources outlines $25.8 million rights issue to unlock gold production growth

Proactive Investors Thursday, 21 March 2019
Blackham Resources Ltd (ASX:BLK) has outlined plans to raise $25.8 million in a fully underwritten five-for-four rights issue priced at 1.5 cents. Notably, Blackham’s executive chairman Milan Jerkovic has sub-underwritten $1.0 million of the issue in addition to committing to take up his rights of around $160,000. An interim step to 250,000 ounces annual production The funds will be invested in the company’s flagship 100% owned Matilda-Wiluna Gold Operation in Western Australia. This includes: • Operational improvements to existing operations; • Completion of the expansion definitive feasibility study (DFS) during the September quarter; • A material drill program targeting high-grade underground reserve expansion; and • Paying down debt and ongoing working capital. The Expansion DFS includes Stage 1 and Stage 2 Stage 1 is the proposed simple low capital addition of a flotation circuit to increase production to 100,000-120,000 ounces per annum. Stage 1 will also allow gold production from Blackham’s large sulphide Reserves and provide flexibility to process both free milling or sulphide ores. Stage 2 is the proposed new comminution, flotation cells and leach circuits and a refurbished BIOX® Plant to increase ore processing throughput to 2.2-3.3 million tonnes per annum. This is expected to increase gold production to ~250,000 ounces per annum with significantly lower operating costs. READ: Blackham Resources to boost Matilda-Wiluna gold production with low capex expansion Offer summary and proposed timetable
Credit: Celebrity Wire - Published < > Embed
News video: Dora and the Lost City of Gold First Trailer

Dora and the Lost City of Gold First Trailer 02:30

Dora, a teenage explorer, leads her friends on an adventure to save her parents and solve the mystery behind a lost city of gold. This is the first trailer for 'Dora and the Lost City oF Gold' in HD. Check it out.

You Might Like

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.