Blackham Resources’ recapitalisation underway

Company News

by Kathy Skantzos

Blackham Resources (ASX:BLK) has been granted an extension to 15 January 2018 by its lender Orion Fund to repay a loan as part of the company’s proposed recapitalisation.

Following the refinancing of the term loan, the company intends to raise $36 million in mid-January.

Blackham’s key mining contractor MACA announced it has agreed to support the proposed recapitalisation.

Blackham’s non-executive chairman Milan Jerkovic will become Executive Chairman, taking on a leading role in the operations and management of the company.

Milan Jerkovic commented that while it has been a tough year for Blackham, the 2018 operational outlook for the Matilda-Wiluna gold project is looking promising.

Shares in Blackham Resources (ASX: BLK) are trading flat at 10.5 cents.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.