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BLACKHAM Resources has placed $A2.5 million worth of shares and issued a $6 million drawdown notice to Orion Mine Finance to develop the Matilda gold project in Western Australia.
The placement of 19.2 million Blackham shares at 13c each to Orion was the first part of the $38.5 funding package announced between the parties last month.
It gives Orion a 12.5% stake in the company.
Needs the funds to ensure gold output
Battling Blackham bangs tin for funds
