Signs $38.5 million Funding Package with Orion Funds JV
Signs $38.5 million Funding Package with Orion Funds JV
Perth, May 20, 2015 AEST (ABN Newswire) - Blackham Resources Ltd (ASX:BLK) has signed a $38.5 million funding package, fully funding the company to bring its flagship Matilda Gold Mine into production and increase its resource base.

The deal has been signed with the Orion Fund JV Ltd, a subsidiary of global resource powerhouse Orion Mine Finance Funds, which will see them come on as a supportive cornerstone investor in Blackham.

Managing Director of Blackham Resources Mr Bryan Dixon said the deal was transformational for the company, with the Matilda gold project now de-risked and a clear pathway to production now defined and fully funded.

"We are extremely pleased to have agreed to this financing package and welcome Orion to the company's register," Mr Dixon said.

"The Orion funding gives Blackham a fully funded solution to bring the Matilda Gold Project into production and provides further validation of the robust nature of this project."

The first tranche of funds will come from a private placement to Orion Fund, in which Blackham will receive $2.5 million. Blackham will then receive a $6 million non-amortising term loan and a further $30 million upon the completion of the definitive feasibility study at the Matilda project.

Mr Peter Rozenauers will join the Blackham board as Orion FundA-s nominee director. Mr Rozenauers was previously with Red Kite Group as Senior Investment Manager and Head of Asian Commodities Distribution for Barclays Capital.

Orion Fund and Blackham have also entered in to an offtake agreement, which will see Blackham sell 50% of gold produced at Matilda until it has delivered 250,000oz of gold to Orion, for a price to be set in context of the market at the time of delivery.

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About Blackham Resources Ltd

Blackham Resources ASX:BLKBlackham 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 +1,440km2 tenure package which has historically produced in excess of 4.4 million ounces over a 120-year mining history.



Bryan Dixon
Managing Director
Blackham Resources
T: +61-8-9322-6418

Tony Dawe
Professional Public Relations
T: +61-8-9388-0944

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