[MEDIA] Blackham Resources (ASX:BLK) has released a positive...

Blackham Resources (ASX:BLK) has released a positive Pre-Feasibility Study (PFS) for their Matilda Gold project located in Wiluna, Western Australia. The key highlights in the PFS include:

• Increased mine life – 6.0Mt at 2.8g/t for 540,000oz;
• Low forecasted operating costs – AISC Cost – A$1,150/oz;
• Annual average production – 98,000oz pa;
• Low capital costs – $28.0m;
• Short payback – 14 months; and
• DFS due by early 2016.

Analyst Comment: Whilst the increase to the mine life, robust operating costs and confirmation of the low capital cost assumptions were the highlights of the PFS, possibly the most significant aspect was the PFS report itself. By completing a PFS, Blackham has de-risked the project and provides greater certainty of the projects’ viability. This risk will be further reduced when the DFS is released in early 2016. Watch the video for the full details of the analyst comment and updated valuation.