Blackham takes Matilda funding further
PERTH (miningweekly.com) – Junior gold developer Blackham Resources was readying to receive the second tranche in a A$13-million funding package from Great Central Gold after shareholders approved a share placement.
In February, Blackham announced that it had secured a funding package from Great Central Gold to support the development of its Matilda gold project, in Western Australia, which has a resource of some 1.5-million ounces.
Great Central took an initial 15.79-million shares in Blackham, at 21c a share, to raise A$3.32-million. The investor further agreed to subscribe for 40-million convertible notes in Blackham, at 25c each, to raise a further A$10-million.
The notes initially had a maturity date of five years from their issue, and interest was payable on the notes at a rate of 8%.
The two companies have now agreed to amend the timetable for the drawdown and subscription of the Notes, allow Great Central a monthly drawdown of four-million notes a month, from July through to April 2014.
Once all the notes have been drawn down, the notes would automatically convert into shares.
Blackham told shareholders that the company would benefit from the certainty of the amended drawdown timetable, as it would result in less interest being payable by Blackham, while also removing the requirement for the repayment of the notes by an agreed conversion date, when drawdown is completed.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.
VISIT SHOWROOM
Complete range of security sealing solutions including security seals bags and labels.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
