17/06/2014 - 11:38

Blackham to receive funding through placement

17/06/2014 - 11:38

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Blackham Resources has received commitments for $2.2 million through a placement of 10.5 million shares at 21 cents to sophisticated and professional investors.

Blackham to receive funding through placement
Ongoing work at Blackham's Matilda mine.

Blackham Resources has received commitments for $2.2 million through a placement of 10.5 million shares at 21 cents to sophisticated and professional investors.

The Perth exploration company is focusing on the development of its Matilda gold project in Western Australia where it recently secured the neighbouring plant, infrastructure and tenure.

The company has also signed a funding term sheet with an overseas institutional investor to invest $1.4 million.

The placement and funding transaction is in addition to the $6 million in undrawn funds from the Great Central Gold convertible note facility. 

Blackham's share price rose by 15 per cent to 23 cents at 11:30am WST. 

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