News: Black Rock Mining's sophisticated investors to acquire small parcels

Black Rock Mining's (ASX:BKT) sophisticated investors are taking an opportunity to acquire small holdings of less than $500 from other shareholders.

Two investors will offer to buy those with holdings of 11,112 or less, at $0.045 per share.

Black Rock said that it initiated the sale facility to assist shareholders with small holdings to sell their shares without having to use a broker or pay brokerage, and to reduce the administrative costs.

The company recently made a discovery at its Mahenge Graphite Project in Tanzania.

Early assays from the 2,000 metre by 300 metre prospect have returned the highest grades to date of 23.9%, 20.4% and 20.3% total graphitic carbon (TGC), which augers well for further exploration.

Infill sampling is underway to define strike length and width to fast-track drilling evaluation.

This will provide news flow in the near-term.