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Blackham raises cash

17th June 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Junior gold developer Blackham Resources has announced plans to raise A$3.6-million through a share placement.

The miner said on Tuesday that it had received commitments for A$2.2-million through the placement of 10.5-million shares, at a price of 21c each, to sophisticated and professional investors.

The placement would fall within the company’s 15% capacity.

Blackham had also signed a funding term sheet with an international institutional investor to invest a further A$1.4-million in the company.

The final investment agreement for this investment would be signed by June 25.

The placement and funding transaction was in addition to the A$6-million in undrawn funds available under the Great Central Gold convertible note facility.

Blackham recently completed the acquisition of the Wiluna gold project from Apex Minerals, in a deal valued at A$4.6-million.

Edited by Creamer Media Reporter

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