DOCSLIB.ORG

Wiluna Gold Project

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Wiluna Gold Project For personal use only Jan 2012 BLACKHAM MANAGEMENT Brett Smith Chairman - Geologist Mr Smith has been involved in mineral exploration, project development and mining for over 20 years in a range of commodities. He has a wealth of experience in all facets of geology and the search for and development of gold ad nickel assets. Mr Smith is also Managing Director of Corazon Mining Ltd. Bryan Dixon - Managing Director – Corporate Mr Dixon has substantial experience in the mining sector and in the management of listed public companies. Previously, he has been employed by KPMG, Resolute Samantha Limited, Société Générale and Archipelago Resources Plc. Bryan also holds a non executive director role with Hodges Resources Limited and Midwinter Resources NL. Mr Dixon is a Chartered Accountant and brings project acquisition, development, financing and corporate skills to the Company. Mr Dixon is also Chairman of the Scaddan Energy JV Committee. Greg Miles Executive Director - Geologist Mr Miles has had a successful career in mineral exploration and development of over 18 years in numerous commodities and mineral provinces. Broad technical expertise as a Geologist and Exploration Manager, directing a small, dynamic team as well as Board level experience as a Non-Executive Director with Cove Resources Limited. Highlights include the discovery and development of the 40Mt Mount Caudan Iron Ore Deposit, Parker Range Project (Cazaly) and exploration and development of gold resources at West Kalgoorlie (now owned by Phoenix). Alan Thom Non Executive Director – Mining Engineer Mr. Thom is mining engineer with extensive experience as a senior manager and executive working in Australia, United Kingdom, Africa and Bangladesh. His experience covers a range of commodities including gold, nickel, uranium and all types of coal. Alan has managed a number of definitive and bankable feasibility studies for significant resource projects. Mr. Thom has worked alongside major international investment banks. Alan holds a Western Australian First Class Mine Mangers Certificate and previously held statutory mine management positions for Newmont in both underground For personal use only and open pit operations. Mr. Thom currently consults to a number of resource companies on business and project development. BEng(Hons), GDipAppFin, GradDipBus, FFin, MAusIMM. CORPORATE STRUCTURE Market Cap (AUD 0.20) AUD 8.6 million • Issued Share Capital Cash (Sept 2011) AUD 1.1 million Shares on Issue 43.0 million Options $0.26-0.38 (2012-14) 4.5 million Options $1.00 (2012-13) 2.1 million MAJOR SHAREHOLDERS HSBC 19.1% J P MORGAN NOMINEES 6.3% DEUK SUNG BAE 5.1% KINGSREEF PTY LTD 5.1% INFEON LIMITED 4.4% For personal use only BENISON HOLDINGS 4.2% Top 20 61% COMPANY STRATEGY • Blackham management has a history of recognizing opportunity and adding value through exploration • Blackham has added significant value at its Scaddan Coal Project • Matilda acquisition is a very cheap entry price ($5/oz) into a very large high prospective gold For personal use only mining province MATILDA GOLD PROJECT • Large highly prospective tenement holding in the Wiluna region, Western Australia • Unloved & forgotten gold project • Assets include previous operating mines, infrastructure and residual resources as well as an extensive exploration position • Resource 10.2Mt @ 1.8 g/t for 601,000oz au • Blackham management well equipped to extract full value • Opportunity for Blackham to become a gold producer at a time of historically high gold prices For personal use only MATILDA GOLD PROJECT TENURE • Major position of control in the Wiluna Greenstone Belt • 4 million ozs. gold production in belt to date • Wiluna Mine Resource 12.7Mt @ 5.4 g/t Au 2.22Mozs (Oct ’10 Apex Minerals Annual Report) • 40km of strike along the Wiluna Mine Sequence • 10km of strike along the Coles Find Mine Sequence • Matilda Gold Project covers over 600km2 For personal use only • Little systematic regional exploration for over a decade MATILDA PROJECT HISTORY • 1886: Gold discovered at Wiluna, mining activities peak in the 1930’s • 1960’s: Modern exploration begins, principally for nickel • 1973– late1980’s: various owners exploring for gold, nickel, copper & uranium • 1898–1996: Asarco commences production, produces initial resource estimates for some KRL resources. Scoping studies for lateritic nickel • 1996: Asarco ceases production • 1997-2000: GCM acquires project begins regional exploration • 2000-2002: Normandy acquires GCM. Concentrate on Wiluna mine sequence & Lake Way • 2002: Newmont acquire project, mining plans for KRL’s Galaxy & Regent deposits • 2003 Dec: Project put into receivership, sold to Agincourt who focus on mining & defining Lake Way deposits (KRL’s) • 2006: Focus on immediate mine area. Independence begin Ni exploration • 2007 April: Oxiana (Oz Minerals) acquire Agincourt For personal use only • 2007 June: Wiluna Mine assets sold to Apex Minerals Ltd • 2009: Minmetals acquire Oz Minerals • May 2011: Kimba Resources acquires project from Minmetals • Oct 2011: Blackham enters agreement to acquire Kimba ADVANCED GOLD PROJECTS Galaxy • Large database of over 39,000 drill holes. Data validation and geological interpretation underway. • 371 reports available (departmental, technical etc…) Regents • Blackham believes “Data Mining” will identify new opportunities. Williamson Matilda For personal use only MATILDA PROJECT PIPELINE Development M1O, M2, Regent Galaxy, Williamson Advanced M1, M4, M5, M6, M11, Williamson South, Carol Prior Matilda Deeps, Williamson Deeps, Monarch, Prospects For personal use only North Galaxy, Mt Poole, Ward Well Group, Zenith, Red Lady, Pluto, Deep Bore, Auditor, Clairault, Gold Tooth 2-PRONG BUSINESS STRATEGY Development: • Advance existing oxide resources (classify per JORC). • Near term toll treating opportunities. • Potential synergies with Apex Mill. • Scoping studies, metallurgy, engineering etc. • Longer term strategy to build resources to warrant own milling option. Exploration: • Identify new oxide resources (near term). • Early stage prospects already identified. • Identify primary resources (medium term). • Depth extensions to known oxide resources. For personal use only • Conceptual targets. GOLD RESOURCES Mineral Resource Estimates Inferred Total g/t g/t Oz. Prospect Tonnes Tonnes Au Au Au Williamson 4,923,000 1.9 4,923,000 1.9 301,000 Williamson Sth 1,078,000 1.8 1,078,000 1.8 63,000 Regent 1,259,000 2.0 1,259,000 2.0 81,000 M10 123,000 2.7 123,000 2.7 11,000 M2 1,944,000 1.1 1,944,000 1.1 68,000 Galaxy 884,000 2.7 884,000 2.7 77,000 Total 10,211,000 1.8 10,211,000 1.8 601,000 For personal use only Rounding errors may occur - grades to 2 significant digits in this table. Williamson & Regent Deposits quoted using 0.75 g/t lower cut-off grade M2 Deposit using a 0.5 g/t lower cut-off grade. All others use 1.0g/t lower cut-off grade. WILLIAMSON PIT Williamson Pit aerial view • Situated on Wiluna Mine Sequence 26km from the Wiluna Gold Plant by existing haul roads • During 2005/2006 Agincourt produced 664,000t @1.98 for 42,000oz from this pit • Inferred Resource 4,9Mt @ 1.9 g/t 301,000oz au • Mining ceased in Sept 2006 when gold price was < US$600/oz or A$800/oz. Williamson Pit long section - mineralisation (Green 1-3 g/t, Red 3-5 g/t, Pink >5g/t) • Significant gold remains in the stage 1 pit and stage 2 pit models being reviewed • Exploration to focus on extending the For personal use only deposit along strike in the oxide material and down plunge WILLIAMSON DEEPS • Primary ore zone below 150m • High grade shear zones bounding low grade continuous mineralised monzogranite up to 40m wide • Best intercepts 4m @ 231g/t and 70m @ 2.38g/t • Potential for low cost bulk mining method • High grade underground targets in For personal use only fresh rock need further drilling WILLIAMSON SOUTH • Located 500m south of Williamson Pit • Drilling has delineated a 1.5km zone of gold mineralisation. • Gold mineralisation similar to Williamson Williamson • Inferred resource 1,1Mt @ 1.8g/t = 301,000oz 63,000oz • Near surface oxide mineralisation including • 19m @ 14.2g/t from 60m • 18m @ 2.8g/t from 35m • 20m @ 3.3g/t from 19m • All aircore drilling not deeper than 60m Further diamond drilling needed to target open extensions below the For personal use only existing resource Williamson Sth 63,000oz to 60m CARROLL PRIOR Williamson Pit 301,000oz • Carroll Prior is a large mineralised shear zone extending over 10km in length • Drilling intersected broad zones of gold mineralisation associated with wedge of felsic volcanics bounded by dolerite Williamson Sth • Potential to host a large 63,000oz to 80m deposit suitable for an bulk open pit mining methods • Carroll Prior resource estimate Carroll Prior ? For personal use only currently being reviewed MATILDA MINE GREAT POTENTIAL AROUND OLD PITS • Located 19km from the Wiluna Gold Plant by existing haul roads • Gold mined from 7 shallow pits. 1986-92 2.5Mt @ 2.02g/t Au, 163kozs (Chevron/Eon) 1992 & ’96 1.5Mt @ 2.46g/t Au, 117,200 oz (Asarco) • Limited drill testing proved that depth extensions continue for at least 300m (eg; 14m @ 6.75 g/t). • All pits only mined oxide material mostly to less than ~50m. Most pits are open along strike. • Primary down plunge targets identified need to be fully tested For personal use only • Drilling planned to commence in January Matilda Mine -3D looking SSW MATILDA MINE A large mineralised system Open Mineralisation Historical Pit shells Open For personal use only Open Open Open Matilda Mine -3.5km longitudinal view looking west M2 Pit Looking west MATILDA M1 DEEPS High grade shoots down plunge M1 Pit • Primary gold targets include down dip extensions to known ore bodies at M1 • Best drilling intercepts include: • 13m @ 8.78 g/t from 211m • 14m @ 6.75 g/t from 236m • A number of mineralised zones Long section looking east through M1 central displaying northern plunge continuity of the intersected in shallow drilling within the steeply east dipping lodes mined from the M5 pit.
Load more

Recommended publications
  • Blackham Resources Ltd. the Giant Wiluna Gold District – Breaking Free
    30th January 2020 Blackham Resources Ltd. The Giant Wiluna Gold District – Breaking Free. The Wiluna gold mine, smack bang in the middle of West Australia, has produced over 4.0 million ounces of gold and has approximately 6.4 Blackham Resources Ltd. million ounces remaining in resources and reserves. The company is Ticker: BLK:ASX ‘cheap’ because it has often disappointed. Blackham Resources and its Share price: A$0.011 Wiluna mine may be about to awaken from a multi-decade slumber and Market cap: A$51.1m join its richly clothed Australian peers including Kirkland Lake’s Cash: A$5.7m Fosterville mine, Northern Star’s Jundee and Bellevue Gold. Debt: A$6.7m (Exc. WCF) Working Cap. Facility: e. A$13.5m Enterprise Value: A$65.6m Shares Outstanding: 4,716m Options: 864m Executive Chair: M. Jerkovic Director Operations: N. Meadows CFO: A. Rechichi IR: J. Malone Blackham consolidated the concessions around Wiluna into one giant tenement package covering over 1,600km2. In January 2014, they acquired the strategically-important Wiluna Gold Plant from Apex Minerals which went bust in 2013 as the gold price fell from US$1,700 to US$1,200 an ounce and Apex’s under-capitalised balance sheet imploded. The Wiluna plant was recommissioned and produced first gold in Prices as of the close of business October 2016. Blackham have invested approximately A$150 million 30th January 2020 since 2016 refurbishing the mine, plant and growing the reserve and resource. March and June quarters of 2019 proved operationally Contact details: challenging but the new Blackham management turned around operations Roger Breuer (Analyst) and have since delivered two consecutive quarters of increasing gold +44 (0)20 7389 5010 production.
    [Show full text]
  • Consolidated Gold Fields in Australia the Rise and Decline of a British Mining House, 1926–1998
    CONSOLIDATED GOLD FIELDS IN AUSTRALIA THE RISE AND DECLINE OF A BRITISH MINING HOUSE, 1926–1998 CONSOLIDATED GOLD FIELDS IN AUSTRALIA THE RISE AND DECLINE OF A BRITISH MINING HOUSE, 1926–1998 ROBERT PORTER Published by ANU Press The Australian National University Acton ACT 2601, Australia Email: [email protected] Available to download for free at press.anu.edu.au ISBN (print): 9781760463496 ISBN (online): 9781760463502 WorldCat (print): 1149151564 WorldCat (online): 1149151633 DOI: 10.22459/CGFA.2020 This title is published under a Creative Commons Attribution-NonCommercial- NoDerivatives 4.0 International (CC BY-NC-ND 4.0). The full licence terms are available at creativecommons.org/licenses/by-nc-nd/4.0/legalcode Cover design and layout by ANU Press. Cover photograph John Agnew (left) at a mining operation managed by Bewick Moreing, Western Australia. Source: Herbert Hoover Presidential Library. This edition © 2020 ANU Press CONTENTS List of Figures, Tables, Charts and Boxes ...................... vii Preface ................................................xiii Acknowledgements ....................................... xv Notes and Abbreviations ................................. xvii Part One: Context—Consolidated Gold Fields 1. The Consolidated Gold Fields of South Africa ...............5 2. New Horizons for a British Mining House .................15 Part Two: Early Investments in Australia 3. Western Australian Gold ..............................25 4. Broader Associations .................................57 5. Lake George and New Guinea ..........................71 Part Three: A New Force in Australian Mining 1960–1966 6. A New Approach to Australia ...........................97 7. New Men and a New Model ..........................107 8. A Range of Investments. .115 Part Four: Expansion, Consolidation and Restructuring 1966–1981 9. Move to an Australian Shareholding .....................151 10. Expansion and Consolidation 1966–1976 ................155 11.
    [Show full text]
  • Company Presentation July 2020
    Company Presentation July 2020 For personal use only ASX Code: WMX Wiluna Mining – Who are we? We are; ▪ A developing gold mining company listed on the ASX (ASX:WMX) that controls 100% of the Wiluna Gold Operation located at the northern end of the Western Australian Goldfields. Four gold systems have been defined on the Company’s 1,600 km2 tenure to date with substantial production growth and discovery potential; ▪ Exploring for discoveries “Under the Headframe” and regionally; discoveries located near existing development and infrastructure; and ▪ Transitioning to a two staged production profile of 120kozpa of gold in Stage 1 (September 2021), increasing to +250kozpa gold and gold doré in Stage 2 For personal use only Delivering On Our Promise 2 The Four Pillars Of Our Business 1. Operations ▪ Currently operating a CIL plant, processing free milling ore producing approx. 60kzopa, aiming to generate between A$3million and A$4million per month of operating cashflow, until September 2021 2. Growth Operations Growth Growth to be delivered in Two Stages: ▪ Stage 1- Gold doré and gold in concentrate production 120kozpa –September 2021 Value ▪ Stage 2- Gold doré and gold in concentrate production +250kozpa-expected in 2024 Proposition 3. Discovery ▪ “Under the headframe” exploration Discovery Corporate ▪ Regional exploration & ESG 4. Corporate ▪ Good People and Strong Leaders, safe and caring culture, and high ethical standards. For personal use only We want to generate value for our shareholders in a socially and environmentally responsible way. Delivering On Our Promise 3 WILUNA MINING NOW OPERATIONS & INFRASTRUCTURE For personal use only 4 WILUNA MINING NOW Overview Location Ore type ▪ Approx.
    [Show full text]
  • Preparing for High-Grade Zinc Production in Italy
    Preparing for high-grade zinc production in Italy Kim Robinson, Managing Director – Diggers & Dealers 2015 Disclaimer The following disclaimer applies to this presentation and any information provided regarding the information contained in this presentation. You are advised to read this disclaimer carefully before reading or making any other use of this presentation or any information contained in this presentation. In accepting this presentation, you agree to be bound by the following terms and conditions, including any modifications to them. This presentation has been prepared by Energia Minerals Limited (“Energia Minerals”). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though Energia has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by Energia. The information contained in this presentation is for information only and does not constitute an offer to sell, issue or arrange to sell securities or other financial products. Any forward-looking statements included in this document involve subjective judgement and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and maybe unknown to Energia Minerals. In particular, they speak only as of the date of this document, they assume the success of Energia’s strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from the forward looking statements and the assumptions on which the forward-looking statements are based.
    [Show full text]
  • METS Global Experience Projects and Technical Papers
    METS Global Experience Projects and Technical Papers METS Engineering Group Pty Ltd Level 3 44 Parliament Place West Perth WA 6005 PO Box 1699 West Perth WA 6872 P: (+61 8) 9421 9000 ABN 92 625 467 674 W: www.metsengineering.com E: [email protected] > DISCLAIMER With respect to all the information contained herein, neither METS Engineering Group Pty Ltd, nor any officer, servant, employee, agent or consultant thereof make any representations or give any warranties, expressed or implied, as to the accuracy, reliability or completeness of the information contained herein, including but not limited to opinions, information or advice which may be provided to users of the document. No responsibility is accepted to users of this document for any consequence of relying on the contents hereof. > COPYRIGHT © Passing of this document to a third party, duplication or re-use of this document, in whole or part, electronically or otherwise, is not permitted without the expressed written consent of METS Engineering Group Pty Ltd. > ACKNOWLEDGEMENTS This document is a dynamic record of the knowledge and experience of personnel at METS Engineering Group Pty Ltd. As such it has been built upon over the years and is a collaborative effort by all those involved. We are thankful for the material supplied by and referenced from various equipment manufacturers, vendors, industry research and project partners. PROCESSING PROCESS CONTROL PRODUCT INNOVATION TESTWORK MANAGEMENT ENGINEERING STUDIES OPERATIONS TRAINING Key Attributes “Provide engineering and
    [Show full text]
  • Wiluna Gold Project
    For personal use only March 2012 ASX: BLK SENIOR MANAGEMENT Brett Smith – Chairman Greg Miles – Executive Director With a wealth of experience in all facets of To date, Greg’s career in mineral exploration and geology, as well as the search for and development in numerous commodities and development of gold and nickel assets, Brett has mineral provinces spans more than 18 years. He been involved in mineral exploration, project has broad technical expertise as both a geologist development and mining (in a range of and an exploration manager directing a small but commodities) for more than 20 years. He dynamic team, as well as board-level experience is also managing director of Corazon Mining Ltd. as a non-executive director with Cove Resources Limited. Highlights of Greg’s professional life include the discovery and development of the 40 Bryan Dixon – Managing Director Mt Mount Caudan Iron Ore Deposit, the Parker Bryan, a chartered accountant, contributes project Range Project (Cazaly Resources) and the acquisition, development, financing and corporate exploration and development of gold resources at skills to the Company. Having previously worked West Kalgoorlie (now owned by Phoenix with KPMG, Resolute Samantha Limited, Société Resources). Générale and Archipelago Resources Plc, he has substantial experience in the mining sector and Alan Thom – Non-executive Director the management of listed public companies. Bryan is also a non-executive director of Hodges Alan, a mining engineer, has extensive experience Resources Limited and Midwinter Resources NL, as a senior manager and executive in the United and chairman of the Scaddan Energy JV Kingdom, Africa and Bangladesh, as well as Committee.
    [Show full text]
  • Wiluna Expansion PFS Confirms Robust Economics for +200Kozpa
    ASX Announcement 30 August 2017 BOARD OF DIRECTORS Wiluna Expansion PFS confirms robust economics for Bryan Dixon +200kozpa long mine life operation (Managing Director) Milan Jerkovic Blackham Resources Ltd ("Blackham” or “the Company") (ASX: BLK) has pleasure in (Non-Executive Chairman) announcing the successful results of the Expansion Preliminary Feasibility Study Greg Miles (PFS) on its 100% owned Matilda & Wiluna Gold Operation (“Operation”). The PFS (Non-Executive Director) demonstrates robust economics and improved economies of scale supporting the Peter Rozenauers Operation’s expansion. Historically, over the last 20 years, the Operation has relied (Non-Executive Director) predominately on underground feed. Blackham’s comparative advantage to previous operators is the 15Mt @ 2.3g/t Au (85% at Reserve classification) in open pit feed, which is included in the Expansion PFS Mine Plan. ASX CODE BLK Blackham’s principal success to date has been identifying, consolidating and defining orebodies all within 20kms of the existing Wiluna Gold Plant. From the large existing Resource base of 61Mt @3.1g/t for 6.2Moz Au, the Expansion PFS CORPORATE brings into Reserves 1.2Moz (15Mt @ 2.5g/t) – an increase of 116% in 1 year. INFORMATION 339.3M Ordinary Shares Expansion PFS Highlights 29.2M Unlisted Options Initial Gold Production over initial 9 years 3.8M Performance Rights 1.47Moz Au Open Pit Mining Inventory 15Mt @ 2.3g/t for 1.1Moz ABN: 18 119 887 606 Underground Mining Inventory 4Mt @ 4.7g/t for 608koz Expanded processing capacity PRINCIPAL
    [Show full text]
  • Equities Research
    EQUITIES BW RESEARCH 27 FEBRUARY 2015 Blackham Resources Ltd (BLK) | Initiation Coverage Rating: Matilda Gold Project , a re-emerging BUY mining district 1 Target Price : $0.40 Investment Summary Projected Return: Blackham Resources has commenced drilling at the Matilda mine as 300% initiation of a 13 month plan to establish a free milling gold Reserve and 1 recommence production at the Wiluna Processing Facility. Underpinned by 12 month target a large tenement position and sizeable gold resources Blackham has the ability to emerge in 2016 as a producer of over 100,000 ozs of gold per year with a mine life in excess of ten years. Company Statistics Investment Highlights Share Price (AUD$) 0.135 Market Cap (AUD$) 24.0 Enterprise Value (AUD$) 21.0 Purchase of the Wiluna Mine and processing facility allowed Issued Shares (mil) 177.9 consolidation of the region under single ownership Options (mil) Tenements of 780km2 surrounding the Wiluna Processing Facility (unlisted) 20.3 with a total gold resource of 4.7million oz Cash 3.0 13 month time line to re-establish >100,000ozpa gold production Debt nil All proposed mining operations within 20km of the Wiluna Processing Facility. Low capital requirement to re-start gold EV/Resource ounce $4.45 production Drilling underway to confirm 5 year Reserve with Initial focus on Earnings Summary free milling gold ore at the Matilda Mine FY Yr. End 2015e 2016e 2017e 2018e High grade underground quartz reef deposits will provide Revenue ($AU) 0 0 132 167 additional low cost ounces EBITDA ($AU) N/A N/A 57 70 Potential to quickly expand gold Reserves for mine life of more Net Income than ten years N/A N/A 36.7 45.0 ($AU) EV/EBITDA 0.37 0.30 Investment Recommendation Initiate with a BUY Rating and a $0.40 price target.
    [Show full text]
  • Annual Report 2006
    NOVA ENERGY LIMITED ANNUAL REPORT 2006 ANNUAL REPORT ENERGY LIMITED NOVA // ANNUAL REPORT 2006 Vivid_9765 CONTENTS C COMPANY STRATEGY ...................................................................................... 2 N A 2005/2006 HIGHLIGHTS .................................................................................. 2 M CHAIRMAN’S LETTER TO SHAREHOLDERS ...................................................... 3 D URANIUM OUTLOOK ........................................................................................ 4 M M PROJECT LOCATIONS & TENEMENT SCHEDULE ............................................. 8 M M DEVELOPMENT PROJECT .............................................................................. 10 R EXPLORATION PROJECTS .............................................................................. 15 N SAFETY & ENVIRONMENT ............................................................................. 20 L 1 COMMUNITY .................................................................................................. 20 W A FINANCIALS .................................................................................................. 21 P P W A T F E W NOVA ENERGY LIMITED CORPORATE DIRECTORY Nova Energy Limited Share Registry ABN 92 111 5999 154 Computershare Investor Services Level 5 Ms Erica Smyth, Chairman 115 Grenfell Street Dr Tim Sugden, Managing Director Adelaide SA 5000 Mr Richard Pearce, Non-Executive Director Australia Mr Peter Bowler, Non-Executive Director Mr Greg Barrett, Company Secretary ASX Code: NEL
    [Show full text]
  • Quarterly Report, Period Ending 31 December 2001
    - page 1 of 20 - 21 Close Way, Kalgoorlie WA 6430 PO Box 1280, Kalgoorlie WA 6430 Phone 618 9091 9253 Facsimile 618 9091 9256 Email [email protected] Website http://heronresources.com.au 31 January 2002 The Company Announcement Officer Australian Stock Exchange Limited Post Office Box H224 - Australia Square SYDNEY NSW 2000 Dear Sir / Madam HERON RESOURCES LIMITED, QUARTERLY REPORT, PERIOD ENDING 31 DECEMBER 2001 QUARTER HIGHLIGHTS • At a General Meeting on 29 January 2002, Shareholders approved the de-merger of the precious metal assets from Heron Resources Limited (“Heron”). The de-merger will be facilitated by making a pro rata in specie distribution of 21,031,745 fully paid ordinary shares in Avoca Resources Limited (“Avoca”) to all Heron Shareholders. Avoca is now wholly owned by Heron Shareholders, and is working towards a public share issue and listing on ASX in the Second Quarter 2002. Heron Shareholders will have a priority right to subscribe for Avoca shares, such that they are entitled to subscribe for sufficient Avoca to maintain their pro- rata Avoca shareholding at the same percentage level as their Heron Shareholding. • The Company completed a private placement to Resource Capital Fund II L.P. (“RCF”). Under the terms of the placement, RCF subscribed for 4 million ordinary Shares in the capital of Heron to raise A$1.04 million, together with 2 million three year options (exercise by 20 December 2004) to subscribe for Heron shares at 35 cents per share. RCF is a Denver-based institutional resource investor, and is now the Company’s third largest Shareholder (3.8%).
    [Show full text]
  • Blackham Resources Ltd. the Giant Wiluna Gold District – Breaking Free
    3 February 2020 Blackham Resources Ltd. The Giant Wiluna Gold District – Breaking Free. The Wiluna gold mine, smack bang in the middle of West Australia, has produced over 4.0 million ounces of gold and has approximately 6.4 Blackham Resources Ltd. million ounces remaining in resources and reserves. The company is Ticker: BLK:ASX ‘cheap’ because it has often disappointed. Blackham Resources and its Share price: A$0.011 Wiluna mine may be about to awaken from a multi-decade slumber and Market cap: A$51.1m join its richly clothed Australian peers including Kirkland Lake’s Cash: A$5.7m Fosterville mine, Northern Star’s Jundee and Bellevue Gold. Debt: A$6.7m (Exc. WCF) Working Cap. Facility: e. A$13.5m Enterprise Value: A$65.6m Shares Outstanding: 4,716m Options: 864m Executive Chair: M. Jerkovic Director Operations: N. Meadows CFO: A. Rechichi IR: J. Malone Blackham consolidated the concessions around Wiluna into one giant tenement package covering over 1,600km2. In January 2014, they acquired the strategically-important Wiluna Gold Plant from Apex Minerals which went bust in 2013 as the gold price fell from US$1,700 to US$1,200 an ounce and Apex’s under-capitalised balance sheet imploded. The Wiluna plant was recommissioned and produced first gold in Prices as of the close of business October 2016. Blackham have invested approximately A$150 million 31st January 2020 since 2016 refurbishing the mine, plant and growing the reserve and resource. March and June quarters of 2019 proved operationally Contact details: challenging but the new Blackham management turned around operations Roger Breuer (Analyst) and have since delivered two consecutive quarters of increasing gold +44 (0)20 7389 5010 production.
    [Show full text]
  • February 2021 ASX Code: WMX INVESTMENT PROPOSITION the RIGHT RECIPE
    Company Presentation UK & Europe Investor Briefing February 2021 ASX Code: WMX INVESTMENT PROPOSITION THE RIGHT RECIPE The Right Place The Right Plan The Right Team The Right Time An 11 million ounce A proven strategy targeting Powerful alliances and Strong gold prices, excess growing gold endowment underground ore leveraging supportive shareholders global gold concentrate in the middle of Tier 1 off established mine backed by a proven processing capacity, on track safe West Australia - infrastructure - 4 million management team who to increase production to have done it before world No 1 gold ounces of sulphide gold 250,000 ounces of gold a year endowment already produced; 4.24Moz @ 4.89 g/t Au of current high-grade inventory at Wiluna 2 WILUNA MINING +11 MILLION OUNCES OF GOLD WILUNA HAS MINED +4 MILLION OUNCES OF GOLD WITH +7 MILLION OUNCES OF INVENTORY RESOURCE OUNCES OF GOLD (AU) - GOLD EQUIVALENT OUNCES -- 5.0 10.0 15.0 20.0 25.0 30.0 £168m SHANTA GOLD 2.4m oz £85m HUMMINGBIRD RESOURCES 5.4m oz £556m PURE GOLD MINING 2.5m oz £85m WILUNA MINING 7.0m oz Strategic alliance and £911m concentrate offtake GREATLAND GOLD 1.3m oz agreement March 2020 £1,250m (Refer to 31 March 2020 CENTAMIN 13.3m oz announcements from Polymetal £7,507m and Wiluna/Blackham). POLYMETAL 25.4m oz -- 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 MARKET CAPITALISATION (£m) Market capitalisation as at 16 February 2021 3 WILUNA – A TIER 1 GOLD LOCATION AUSTRALIA: THE WORLD’S NO 1 GOLD ENDOWMENT (US GEOLOGICAL SURVEY) GOLD RESERVES BY COUNTRY TONS OF GOLD AUSTRALIA 10,000 RUSSIA 5,300 SOUTH AFRICA 3,200 UNITED STATES 3,000 INDONESIA 2,600 BRAZIL 2,400 PERU 2,100 CHINA 2,000 CANADA 1,900 WORLD TOTAL 50,300 Source: US Geological Survey (USGS), 2019 Australia produced 320 tonnes of gold in 2020.
    [Show full text]