Ann: Trading Halt, page-64

published 31 October:::

BLACKHAM RESOURCES LTD. (ASX: BLK | A$0.17 | A$59.5M)
SepQ'17 report; HOLD (FROM: SPEC BUY); A$0.25 Target price

BLK's SepQ'17 production result was another disappointing one, and with the balance sheet now in a critical position, we are moving to a HOLD recommendation, pending the outcome of debt refinancing negotiations and clarity on the timing of its growth ambitions. We have introduced a 50% risk weighting to the Matilda/Wiluna project NPV5%, which has seen our price target decrease to A$0.25/sh (previously A$0.60/sh). RESEARCH HERE