Perth, Australia, Jan 16, 2020 - (ABN Newswire) - Blackham Resources Limited (ASX:BLK.AX - News) (HAM:NZ3.HM - News) (OTCMKTS:BKHRF - News) provides the following update on its activities for the quarter ended 31 December 2019, and thereafter:
- December quarter production of 20,003oz.
- Gold production and cost guidance maintained at 70,000 - 80,000 oz @ AISC of $1,550 to $1750/oz.
- Operational turnaround contributes to significant balance sheet repair for the six months ended Dec'19:
o Total debt reduction of $9.2m
o Total trade and other payables reduced by $11.7m.
- Stage 1 Expansion Study completed. Indicative non-binding term sheet received for $40m funding.
- Salt Lake Potash exercise option to purchase Southern Borefield Infrastructure for $3m.
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About Blackham Resources Ltd:
Blackham Resources Limited (ASX:BLK.AX - News) (OTCMKTS:BKHRF - News) Wiluna-Matilda Gold Operation is located in Australia's largest gold belt which stretches from Norseman through Kalgoorlie to Wiluna. The Operation now includes resources of 96Mt @ 2.2g/t for 6.7Moz Au all within 20kms of the central processing facility. Blackham has consolidated the entire Wiluna Goldfield within a +1,440km2 tenure package which has historically produced in excess of 4.4 million ounces over a 120-year mining history.
Blackham Resources Ltd
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