Blackham Resources has secured $9.15 million in finance facilities to progress exploration work at its Matilda gold project in the northern Goldfields.
The funding arrangement comprises an $8.1 million investment agreement with The Australian Special Opportunity Fund, a New York-based institutional investor managed by Lind Partners.
Blackham also said it would launch a separate share placement, to raise an additional $1.02 million, at 21 cents per share.
Managing director Bryan Dixon said the agreement would allow the company to undertake significant exploration at the Matilda project.
“These agreements ensure that our ongoing efforts are fully funded as we advance Matilda over the coming months.”
Also today, Blackham announced it had applied for a mining license covering the Regent gold deposit, at Matilda.
The Regent deposit was recently upgraded to 237,000 ounces.
At close of trade today, Blackham stocks were up 4.5 per cent, trading at 23 cents.