Blackham draws down funds to advance Matilda
PERTH (miningweekly.com) – ASX-listed Blackham Resources on Monday announced that it had agreed to an early drawdown of A$7-million on an existing A$30-million debt facility with Orion Mine Finance to fast-track its Matlida gold project into production.
A prefeasibility study earlier this year revealed that the project, in Western Australia, would require a capital investment of A$28-million to deliver 98 000 oz/y over a mine life of nearly five years, at a life-of-mine C1 cash cost of A$920/oz.
The project was expected to generate gross revenue of A$720-million, based on a gold price of A$1 550/oz, a net present value before tax of A$124-million and an internal rate of return of 105%.
The early drawdown of funds would be used to order long-lead items, to fund the initial plant and infrastructure refurbishments, to conduct additional drilling to extend the reserve and mine-life inventory and to complete the definitive feasibility study (DFS) by January.
“Blackham is pleased to have agreed with Orion the early drawdown of funds under the debt facility. A lot of the DFS work programmes have been completed. The early drawdown of these funds allows the Blackham team to look beyond the studies and begin the first stages of the development work,” Blackham MD Bryan Dixon said.
“Starting the refurbishment of the plant and infrastructure will allow a more orderly progression into gold production planned for the middle of next year,” he added.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
