https://www.miningweekly.com
Gold|PROJECT|Resources|Operations
Gold|PROJECT|Resources|Operations
gold|project|resources|operations

Blackham sets sights on A$52m raise

26th February 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Gold miner Blackham Resources will raise A$52-million through a share placement and fully underwritten non-renounceable entitlement offer to advance Stage 1 of its expansion plans for its Western Australian gold operations.

An initial A$26-million has been targeted for a share placement to tier one institutional investors, priced at 1c a share.

The share placement will be conducted in two tranches, with the first tranche raising an initial A$11.7-million under the company’s existing placement capacity. The second tranche, of more than 1.4-billion shares, will be subject to shareholder approval, and will raise an additional A$14.3-million.

In addition to the share placement, Blackham will also undertake an entitlement offer to raise a further A$26.2-million, on the basis of four new shares for every nine shares held, also at an issue price of 1c a share.

The proposed entitlement offer will be fully underwritten by the company’s current largest shareholder Delphi Unternehmensberatung.

Blackham told shareholders on Wednesday that in addition to the capital raising, the company will also pursue an indicative, non-binding term sheet with trading group Mercuria Europa Trading for a A$40-million project loan facility.

Assuming the capital raise was successful and the funding facility secured, Blackham would have a total funding package of some A$92-million, enabling the company to progress its operating strategy to complement the existing free milling capacity to include the Stage 1 sulphide concentrate production, and to target an expanded production rate of between 100 000 oz and 120 000 oz a year from early 2021.

Edited by Creamer Media Reporter

Comments

Showroom

M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.057 0.089s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: