Much better December by Blackham

BLACKHAM Resources has sought to reassure shareholders and the market that all is now tracking well at its Matilda-Wiluna gold operation ahead of the A$36 million entitlement issue due to be launched mid-month.

Much better December by Blackham Much better December by Blackham Much better December by Blackham Much better December by Blackham Much better December by Blackham

The struggling Blackham reported ore mined in December contained 8038 ounces, more than double the monthly mining yield of recent times.

“The recent mining and production levels support our belief that the delays in accessing high grade open pit ore are now behind us and that 2018 will be a transformational year for Blackham, during which we expect to deliver increased grades and gold production whilst reducing strip-ratios and mining costs, thereby generating strong operational cash flows,” Blackham’s executive chairman Milan Jerkovic said.

The entitlement issue is part of a recapitalisation plan unveiled by Blackham earlier this month.

Prior to the entitlement issue, Blackham needs to refinanc...