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  • Blackham Resources Receives $1.35 Price Target From Sydney Broker 0 comments
    Apr 23, 2014 8:00 PM

    Blackham Resources (ASX: BLK) is reinvigorating the Wiluna gold belt, and the company has received a $1.35 one-year price target from Sydney broker Paradigm Securities.

    The company last traded at $0.23, with the target close to six-times the current value.

    Blackham has a resource base of over 4moz and has recently acquired the Wiluna mill to upgrade and operate as a hub to treat non refractory ore from several mostly open cut gold deposits in the region.

    Exploration along a strike of more than 40km is open along strike and at depth in a gold region that already has several mines down to 1000m.

    The following is an extract from the report.


    Blackham Resources is re-establishing gold mining operations in the Wiluna Gold Belt in the northern extremities of the Lawlers -Wiluna Band of the Yilgarn Achaean Greenstone Belt in Western Australia.

    The region has a gold endowment of over 35moz and is relatively under explored.


    - 1-Year Price Target: $1.35
    - Wiluna plant acquisition is game changer for Blackham
    - Transforming from developer to near term producer
    - Target of >80kozpa in Dec Half 2015 then >90kozpa
    - Low capital costs and attractive op costs - Current M&I resources are 16Mt @3.8g/t for 2.0Moz
    - Total resource base of >4moz
    - Regional exploration potential is high
    - Base case NPV8 of A$136m(A$0.96) @A$1500/oz fully diluted)

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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