Record month for Blackham sets stage for ‘transformational year’

JOHANNESBURG (miningweekly.com) – Gold miner Blackham Resources has had a pleasing month in January, producing a record 6 498 oz of gold at an all-time-low all-in sustaining cost (AISC) of A$1 158/oz, the ASX-listed company announced on Thursday.

Access to high-grade zones in the M4 and Galaxy pits at the Matilda-Wiluna gold mine, in Western Australia, was achieved at the end of last year, enabling the record monthly production and low waste to ore strip ratio of 3.6:1 in January, resulting in the company achieving a record low AISC.

Blackham said that the operation was building high-grade stockpiles for the first time since March 2017. These stockpiles currently total 108 000 t at 1.5 g/t gold. The company reported that it would mine about twice as much high-grade ore as it would process, providing operational flexibility.

Matilda-Wiluna’s forecast production for the half-year to June 2018 is 40 000 oz to 45 000 oz at an AISC of A$1 100/oz to A$1 200/oz.

“With the operation’s production at record levels and a significant reduction in AISC having already been achieved, the company is clearly demonstrating that its operational turnaround is well under way. This operational performance, in conjunction with the current strong Australian dollar gold price, is expected to make 2018 a transformational year that is expected to generate significant cash flows and value for Blackham and its shareholders,” executive chairperson Milan Jerkovic said.