Ann: $35m Placement to Expedite Expansion Plans, page-46

Why raise to fund an enormous drill program when the gold price is reasonably low mining has already commenced and they have enough resources to produce gold at the current rate for 80+ years?

I fear that BLK is risking following the previous owners Apex Minerals into liquidation if they continue to keep spending money at the rate they are in a low gold price environment. There are many companies globally, listed and unlisted that have suspended gold production because of the low price and own gold projects that have a lower AISC than BLK.