Time is somewhat our enemy at present with debt repayments but If BLK can get some of its projects up and keep its head above water financially could these have the required positive impact for our cash balance?
Acap energy (ACB) JV farm in. ACB are able to aquire 75% of Wiluna cobal nickle project.
Payment of 2.8 million for initial 20% and a further$100,000 for exploration data on for the project. (Unsure if already paid?)
ACB can then aquire a further 35% by cash payment within 24 months to BLK of $500,000 and spend min $5,000,000 on exploration etc within 36 months.
ACB then may aquire a further 20% (That would take them to 75%) by completing DFS within 36 months and pay BLK a further cash payment of $1000,000 and issue at the completion of the project DFS $1,500,000 worth of ACB Shares 30 day VWAP ave. (subject to shareholder approval) ACB will be responsible for the cost of BLK ownership the tenements during the earn-in period.
GWR (Wiluna west gold project) Drilled Golden monarch, Emu & eagle Binding head of agreement/milling agreement/JV to mine and mill Wiluna west high grade gold deposits. sounds like some time to go before any income realised although stated mining approvals for Golden Monarch are largely in place & has potential to provide Wiluna mill with additional feed source. The JV will be BLK 65% and GWR 35% on both costs and on gold produced. JORC Golden monarch 54200 Oz indicated & inferred, JORC for emu prospect inferred 28700 oz, JORC on Eagle prospect inferred 37800 oz. There is a further 9 prospects on top of the 3 listed above at Wiluna west gold project. Total JORC 2004 & JORC 2012 all prospects indicated and inferred 254500 oz gold
Saltlake Potash SLP (Williamson pit) Lakeway All I can find on this is a Memorandum of understanding wherein SLP will aquire BLK's brine rights & BLK will aquire SLP's gold rights to SLP's lakeways holdings. with each company retaining royalties on respective holdings. SLP is to dewater the wiilliamson pit prior to Blackham mining early in 2019.
Information is taken direct from annoucements/reports & hopefully accurate. Seems Blackham have alot going on but these 3 have come to the fore whilst I have been an investor with the company. Would very much appreciate some positive news on any or all of the above from the company this quarter.
BLK Price at posting:
3.0¢ Sentiment: Hold Disclosure: Held
