Blackham Resources Ltd (ASX:BLK) Headed to 30c
This could do better but the PPS will be limited by a recent funding that was done in the 30c range.
Blackham Resources Ltd (ASX:BLK) provides the Annual Report to shareholders.
Review of Operations
Over the last six years, Blackham has consolidated the Wiluna Goldfield with a tenement package now covering over 1,100km2, into one operation that has historically produced over 4.3 million ounces. The Matilda/Wiluna Gold Operation (‘Operation’) is located in Australia’s largest gold belt which stretches from Norseman to Wiluna and passes through Kalgoorlie and Leinster.
The 100% owned Operation recommenced production in October 2016 and comprises a 1.8Mtpa gold plant, BIOX(R) plant, 17MW new gas and diesel power stations, 300 room camp, bore-fields and underground infrastructure.
Since the publishing of the Blackham 2016 Annual Report, the Company has delivered the following results:
– First gold pour from the Operation in October 2016;
– Gold production continues to increase
– Operations have been significantly de-risked
– JORC 2012 Gold Resource of 65Mt @ 3.1g/t for 6.5Moz (51% measured & indicated) – an increase of 27% in one year;
– A mining reserve of 1.2Moz – an increase of 116% in one year; and
– Completion of the Expansion PFS
The management team has continued to focus on the continual improvement and optimisation of the mine plan and the safe and efficient running of the Operation, whilst also exploring other options for a sustainable longer term operation.
To view the full report, please visit:
About Blackham Resources Ltd
Blackham Resources Ltd (ASX:BLK), is an emerging gold producer focused on its Matilda Gold Project in Western Australia where mining and production is imminent. The Matilda/Wiluna Gold Operation incorporates over 1,000 square kilometres of tenements containing total JORC 2012 resources of 63Mt @ 3.2 g/t for 6.4Moz of gold. These tenements cover around 55 kilometres of strike along the Wiluna Mine Sequence and 10 kilometres of strike along the Coles Find Sequence. The Wiluna Mine and Coles Find Sequence has historically produced 4 million ounces of gold.
All the deposits are within 26 kilometres by existing haul roads of Blackhams recently acquired Gold Plant. With exploration prospects at Mt Poole, Monarch, Carroll Prior, Red Lady, Zenith, Island and Albion in the Lakeway area provides the company with excellent exploration areas for potential future projects.