The reason it's down is the increased risk appetite for investors thus reducing the price of gold and in turn we've seen an uptick in the AUD leading to a drop of around $100 recently in the AUD gold price.
The fundamentals of the project are still there and at current levels ebit would be around 60m pa so this isn't anything to get to worried about with the stock still being undervalued (pre-production value) by around 50% compared to its peers..
BLK Price at posting:
38.5¢ Sentiment: Buy Disclosure: Held