Ann: $35m Placement to Expedite Expansion Plans, page-50

It's

Here is why they need cash:​

expedite the conversion of the large resource base into reserves

improve and lengthen the mine life
accelerate studies to enhance the Stage 2 expansion economics;
and commit to Stage 2 engineering and long lead items immediately on finalisation of feasibility.

Blackham has commenced a 60,000m drill programme around the Wiluna Open pits. Blackham currently has 2 RC and 1 diamond rig double shifting with a view to upgrading the Wiluna open pit resources announced over the last two months, to measured and indicated resource.