Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Blackham Resources Raising $3.6M From Placement And Institutional Investment  0 comments
    Jun 16, 2014 9:19 PM

    Blackham Resources (ASX:BLK) has raised $2.2 million through a placement of shares and has signed a funding term sheet with a large international institutional investor for a $1.4 million investment.

    The placement and investment is in addition to the $6 million in undrawn funds from the Great Central Gold Pty Ltd Convertible Note Facility.

    Blackham has delivered some outstanding results from the Galaxy Deposit of its Matilda Gold Project, including the best ever drill intercept of 9 metres at 13.4 grams per tonne gold with strong widths and grades from near surface.

    It is well on the road towards becoming a near term gold producer, having recently acquired the Wiluna Mine and processing plant near Matilda.

    The Wiluna mine holds 16.7 million tonnes at 5.3g/t gold for 2.8 million ounces, complementing the Matilda project's 23.7 million tonnes at 1.9g/t gold for 1.4 million ounces.

    It is also participating in the Zanthus Project in the Fraser Range, Western Australia, where partner Rumble Resources (ASX:RTR) has started a magnetic survey to scout for nickel.

    Blackham had $1.2 million in cash as of 31 March 2014.

    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.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.