Ann: Trading Halt, page-87

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speculator101

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29/03/17

13:53

Post #: 23707812
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Originally posted by Jetballs ↑

Article Below:

Bucketing rain and a fire - odd bedfellows that they are - have combined to cause calamities at Blackham Resources ' gold operation.
And the timing could not have been worse, if the Bull's sources are correct.
Blackham went into a trading halt yesterday and market chatter was the Bryan Dixon -led company had major problems with the plant at the MatildaWiluna project.
The company wasn't letting on about the nature of the problem but industry sources said a fire had broken out in the plant and heavy rains had caused havoc also.
That was bad enough but apparently the company had planned to take a bunch of institutional investors and analysts out to the site. The grip-and-grin mini investor roadshow had to be cancelled in order to get some maintenance staff on to the plane.
Not the greatest look to those you want to impress but spare a thought for Dixon. There are many things a managing director can control but the heavens opening up isn't one of them.
The Bull understands investors will find out tomorrow what is going on at the Matilda and Williamson mines and Golden Age deposit.
Shares in Blackham were worth 54¢ before the halt.

appeared via LexisNexis on my trading account

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Darn. If true, very unlucky.
That being said, the water issue should be very short term. The fire... well, all depends on what it damaged.

Obviously this will now lead to a production downgrade, although for those screaming for an update, my guess is they will provide one, good or bad.

A shame the heavy rain did not put the fire out!

BLK Price at posting: 54.0¢ Sentiment: Buy Disclosure: Held
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