9 April 2018 ASX Announcement
RECORD QUARTER OF GOLD PRODUCTION FOR BLACKHAM
Highlights
Operations continued to generate strong cash flows in March
New record monthly gold production in Mar’18 of 7,419oz (Feb’18: 6,713oz), an 11% increase on
last month
o 165kt milled for the month (Feb’18: 150kt)
o Mill feed grade improved to 1.6g/t (Feb’18: 1.5g/t)
New record quarterly gold production of 20,631oz (Dec’17 Qtr: 14,922oz), a 38% increase on last quarter
o 477kt milled for the quarter (Dec’17 Qtr: 443kt)
o Mill feed grade improved to 1.5g/t (Dec’17 Qtr: 1.1g/t)
All in sustaining costs (“AISC”) reduced to A$1,092/oz for quarter (Dec’17 Qtr: A$1,882/oz),
representing a 42% decrease on last quarter
Average realised gold price of A$1,669/oz for the quarter
Current gold forward sales contracts – 27,400oz @ A$1,724/oz over the next 9 months
Cash and bullion of $29.2 million and secured debt of $40.0 million at 31 Mar’18
Production guidance reconfirmed at 40-45koz @ A$1,100-1,200/oz AISC for this half
BLK Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held