I SEE IT BUT I DON’T BELIEVE IT!!!!
Blackham Resources is a high cost, over-leveraged west Aussie gold producer that goes bust every few years;
RIGHT? WRONG!! Look again. Everything just changed.
30 March 2020 is a RED LETTER-DAY for Blackham. Blackham has just raised A$52 million new equity – A$26 million from an equity placement to far-sighted global institutions plus an additional A$26 million from a rights issue underwritten by Delphi AG of Germany. Blackham now has pro-forma NET CASH of A$33 million.
The A$650 per ounce Aussie dollar gold price increase in 2020 has also added over A$40 million to Blackham’s 2020 pro-forma cash-flow:
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