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Blackham Resources posts record production at Matilda-Wiluna project

  • Source: www.australianmining.com.au
  • Feb.10,2018

Perth-based explorer Blackham Resources, responsible for the Matilda-Wiluna gold operation in Western Australia, has announced a record production month for January, producing 6490 ounces (oz) of gold.

This represents a 19 per cent increase over the December figure of 5461oz; the company has set itself a half-year target from January to June of 40,000–45,000oz.

In addition, Blackham has reported not just a record-high production month, but a record-low all-in sustaining cost (AISC) of $1158/oz over an average market price of $1663/oz.

Production commenced at the Matilda-Wiluna project in October 2016, hosting four large-scale gold systems, with JORC 2012-compliant gold reserves of 15Mt at 2.5 grams a tonne for 1.2Moz and annual production of nearly 200,000oz.

Last May, the miner announced its plans to double production at Matilda-Wiluna, and in January this year received a $14.3 million loan from contractor MACA to help pay off ts debts followed by a $36 million entitlements issue.