2011/2012 was yet another very successful year for Blackthorn Resources with a number of important, even transformational goals being achieved. Around the world, the business environment has remained uncertain, dynamic and difficult, however our Company has continued to demonstrate an ability to execute and deliver on challenging objectives, while adapting to the prevailing economic circumstances to create shareholder value.
Blackthorn Resources has delivered a range of project outcomes that have been recognised by the investment community and resulted in a re-rating of the share price. In fact, the appreciation in share price and market capitalisation has been such that the Company was among the best performing of ASX listed resource companies of any size over the 2012 financial year.
Major achievements for the year include:
- Successful handover of the Mumbwa copper exploration project in Zambia from BHP Billiton
- Excellent drilling results and mineral resource upgrade at Mumbwa
- Mineral resource upgrade at the Perkoa Project in Burkina Faso
- Construction progress at Perkoa
- Approval of Blackthorn Resources’ participation in the expansion of the Perkoa Project.
Blackthorn Resources’ share price increased by more than 160% for the financial year, driven by reliable execution in developing a portfolio of quality assets. This result ranks the Company’s shares amongst the top 5 resource stocks for price appreciation for the period as reported by the Greshan Group 150 ranking of the top 150 ASX listed resource companies (excluding oil and gas) published in July 2012.
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