Arlington said in a research report earlier this year that Blackham and its Wiluna mine might be about to “awaken from a multi-decade slumber and join its richly clothed Australian peers including Kirkland Lake’s Fosterville mine, Northern Star’s Jundee and Bellevue Gold”.Northern Star and Kirkland Lake both took historic mines, Jundee and Fosterville, and reinvigorated them by deeper drilling, creating huge value for shareholders and a blueprint for Blackham to do the same at Wiluna.“I think if you compared us today with no debt, with a significant cash balance, with more money coming in from a debt facility and a plan that’s going to deliver a significant production profile, clearly we are positioned for a re-rating,” Jerkovic said.“And then geologically if we keep drilling with five or six rigs, we’re going to have some pretty exciting news coming through.”Blackham wants to continue with stable production over the next 18 to 24 months, while it repositions itself to be able to undertake concentrate production for supply to its offtake partners.Blackham’s stage-one expansion project has been significantly progressed via concentrate offtake agreements secured with Trafigura and LSX listed, A$15 billion-dollar market capped Polymetal Group.The company recently locked in agreements to supply 70 per cent of stage-one concentrate production, or 122,500 dry tonnes of gold concentrate (whichever is greater) to Polymetal Group, and to supply 30 per cent of stage-one concentrate production (for the first three years) to Trafigura.
It´s clear that´s been a promotion, surely sponsored by BLK. But in any way, if this get´s clear and loud to the outside we will receive some attention. And in addition with a rising gold-price we will see other share prices as well.
elsolivars + be well !!
BLK Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
