Blackham is now in a position to confirm it has a credit approved term sheet to fully re-finance the A$36.7 million current secured debt position. The term sheet has the first repayment in June 2020 which means the Company's working capital position would be improved by the $14.8M currently repayable by 31 Dec 2017 under the existing financing facility. Technical due diligence has now been completed and the legal documentation is currently well advanced. The term sheet remains subject to legal due diligence which is also well advanced.
The Company expects operations to be cash flow positive in the December 2017 quarter due to access to higher grade ore to be mined from the open pits.
About Blackham Resources Ltd
Blackham Resources Limited (ASX:BLK) (OTCMKTS:BKHRF) 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 +1,100km2 tenement package which has historically produced in excess of 4.4 million ounces over a 120-year mining history.
Blackham Resources Ltd