As we approach 2017, I thought it worthwhile to summarise where...

As we approach 2017, I thought it worthwhile to summarise where BLK is and what is needed to get it going:

BLK has 6.1m oz resource and 700k reserves

Due to one offs in 2017, BLK has $1418 AISC, this drops to around $1050 in 2018 and beyond

BLK are looking to do 100,000 oz per year, with plans to increase to 200,000 percent oz.

Production has commenced but the company has not announced how much has been produced and at what cost per oz.

The company expects to have $20m cash and $35m in debt as at 31/12/2017.

What the company needs to do:

1. Needs to prove that it can produce 2000 oz per week, reliably over a sustainable period, without fail.
2. Needs to increase reserves number to above 1m oz to prove long term viability.
3. Cash and debt. Repayments begin in March 2017. Should production be delayed is a $25m - $50m capital raising justified?

With only 12,000 - 15,000 oz hedged, BLK is basically unhedged mate going forward.

If BLK can deliver these, share price will be above $1 and takeover suitors will be swarming, if not then management will need to make alternative steps.

To all BLK holders have a happy and safe New Year's Eve.

Look forward to 2017. Let's hope it is a good year.