THE BOURSE WHISPERER: Blackham Resources (ASX: BLK) completed the first gold pour at the company’s 5.1 million ounce Matilda gold project near Wiluna in Western Australia.
The milestone was achieved 16 months after the company completed the Orion funding deal, during which time the company completed a preliminary and a definitive feasibility study, obtained mining and environmental approvals, appointed contractors to commence mining in both the Matilda open pits and the Golden Age underground, installed and commissioned a new diesel power station, and refurbished and commissioned Stage 1 of the Wiluna gold project.
“We are extremely pleased to be Western Australia’s newest gold producer and are delighted at reaching the milestone in just 16 months from completing our funding deal with Orion Mine Finance,” Blackham Resources director and chief operations officer Alan Thom said in the company’s announcement to the Australian Securities Exchange.
Blackham said plant optimisation of both throughput and recovery are now underway with a view to maximising plant performance.
The mining already carried out from the open pits and underground has contributed to stockpiles greater than five weeks mill feed.
Having completed the initial gold pour at the project, Blackham indicated it focus will now be on ramping up to commercial production.
After quickly progressing to Stage 1 gold production, Blackham is determined to fast track the Stage 2 expansion study aimed at increasing production to 175,000 to 230,000 ounces per annum.