Blackham raises cash
PERTH (miningweekly.com) – Junior gold developer Blackham Resources has announced plans to raise A$3.6-million through a share placement.
The miner said on Tuesday that it had received commitments for A$2.2-million through the placement of 10.5-million shares, at a price of 21c each, to sophisticated and professional investors.
The placement would fall within the company’s 15% capacity.
Blackham had also signed a funding term sheet with an international institutional investor to invest a further A$1.4-million in the company.
The final investment agreement for this investment would be signed by June 25.
The placement and funding transaction was in addition to the A$6-million in undrawn funds available under the Great Central Gold convertible note facility.
Blackham recently completed the acquisition of the Wiluna gold project from Apex Minerals, in a deal valued at A$4.6-million.
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