(MENAFN- ABN Newswire) Perth, Feb 19, 2018 AEST (ABN Newswire) - Blackham Resources Limited () () ("Blackham" or "the Company") provides an update on the Company's fully underwritten, renounceable pro-rata entitlement offer ("Entitlement Offer") that closed on 12 February 2018.
Further to the Company's announcement dated 15 February 2018, the Company has received the net proceeds from the allocation of New Shares and New Options to be issued pursuant to the Entitlement Offer.
Normal trading of the New Shares and New Options, issued under the Entitlement Offer, is expected to commence on 20 February 2018. A revised Appendix 3B has been lodged to reflect the rounding of fractional entitlements (as stated in the announcement dated 15 February 2018).
Company Update
Mr Greg Fitzgerald has now been formally appointed as a Non-Executive Director of the Company. Mr Fitzgerald is a Chartered Accountant with more than 30 years of gold mining and resources related experience, and extensive executive experience in managing finance and administrative matters for listed companies. He held the positions of Chief Financial Officer and Company Secretary for ASX 200 company, Resolute Mining Limited, for more than 15 years until his resignation in 2017.
Blackham also wishes to advise it plans to commence a number of drilling programmes focused on growing free milling reserves through resource conversion and identifying additional mineralisation to maintain a free milling mine life greater than 5 years. The initial drill program will commence next week and more information on the targets will be provided shortly.
About Blackham Resources Ltd
() (), is an emerging gold producer focused on its Matilda Gold Project in Western Australia where mining and production is imminent. The Matilda/Wiluna Gold Operation incorporates over 1,000 square kilometres of tenements containing total JORC 2012 resources of 63Mt @ 3.2 g/t for 6.4Moz of gold. These tenements cover around 55 kilometres of strike along the Wiluna Mine Sequence and 10 kilometres of strike along the Coles Find Sequence. The Wiluna Mine and Coles Find Sequence has historically produced 4 million ounces of gold.
All the deposits are within 26 kilometres by existing haul roads of Blackhams recently acquired Gold Plant. With exploration prospects at Mt Poole, Monarch, Carroll Prior, Red Lady, Zenith, Island and Albion in the Lakeway area provides the company with excellent exploration areas for potential future projects.
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