Perth, Australia, June 22, 2020 - (ABN Newswire) - Wiluna Mining Corporation Limited (ASX:WMX.AX - News)(formerly Blackham Resources Limited) is pleased to announce the adoption of a new brand and identity. The Company will henceforth be trading under the name "Wiluna Mining" and the ASX code "WMX".
The Wiluna Mining Operation has a proud 124-year history in which it has produced over 4 million ounces of gold from one the world's greatest gold endowments. While the Board acknowledges this great legacy, and owns the challenges of the operation in recent history, the new identity represents a resolute departure from the past, and importantly, a renewed focus on the future. It announces the Company's bold new strategic direction, corporate purpose and hunger for future growth.
Wiluna Mining's Executive Chair Milan Jerkovic said the change represents a new chapter in the historic Wiluna story and supports the Company's strategic transformation initiated last year.
"Over the past 12 months there has been transformational changes within the Company. We have cleaned up and strengthen our balance sheet including paying off all of our debt, outlined our two Stage development to become a +200kozpa, long life gold producer, signed agreements with two very large groups in Polymetal and Trafigura for 100% of our gold concentrate offtake, received credit approval for a $21 million gold swap financing that can increase to $61 million , attracted some excellent new, international institutional shareholders to our share registry and recruited a number of outstanding new individuals to our management and technical team. We have also implemented a new operating model to set a platform for future growth. We are in a transitional growth phase and that is not without its challenges, however we are resilient, determined and above all committed to our shareholders".
He continued, "Wiluna Mining is a growth and under the headframe exploration company which currently produces +60kozpa but is working towards a staged development to produce over 200kozpa of gold in concentrate from our large underground sulphide deposits. As recent drilling has demonstrated, the opportunity at Wiluna to increase that Mineral Resource and reserve through discovery "under the headframe" is significant. We are working hard every day to build a better, more profitable mining business and this tenacity is what Wiluna Mining stands for".
"The change to Wiluna Mining is about uniting our Company under a common identity centred on integrity and delivering on our promises with consistent performance. We have a remarkable growth opportunity, we now have the right team in place and we are focused on unearthing the true potential of the Wiluna gold system. Wiluna has the potential scale and geology to become one the largest gold mines in a Tier 1 jurisdiction and the best is yet to come," Jerkovic said.
About Wiluna Mining Corporation Ltd:
Wiluna Mining Corporation (ASX:WMX.AX - News) is a Perth based, ASX listed gold mining company that controls over 1,600 square kilometres of the Yilgarn Craton in the Northern Goldfields of WA. The Yilgarn Craton has a historic and current gold endowment of over 380 million ounces, making it one of most prolific gold regions in the world. The Company owns 100% of the Wiluna Gold Operation which has a defined resource of 6.4 Moz at a grade of 2.1 g/t Au. In May 2019, a new highly skilled management team took control of the Company with a clear plan to leverage the Wiluna Gold Operation's multi-million-ounce potential.
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