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Blackham Resources Ltd

www: blackhamresources.com.au   email: jim@blackhamresources.com.au
Category: Junior: Emerging Mid-tier Producer
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Symbol Data

Symbol Currency
ASX:BLK AUD
OTCMKTS:BKHRF USD

Description

Blackham Resources Ltd are a gold focused junior, emerging mid-tier producer with two mines in development in Australia. They have approximately 6Moz. of gold in the reserves and resources category of which 3Moz. are in the measured and indicated category. They have a market capitalisation of ~A$25.22M which is a fall of roughly 43% over the last eight months. As of 08/10/2019 they have ~A$12M debt and ~A$1.52M cash. They have 3,768M shares outstanding and trade on the Australian Stock Exchange and the over-the-counter markets.

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General Details

Financial 08/10/2019
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (FD): $43.95M $25.22M 08/10/2019 $-18.73M
Total Assets: $122.64M $109.46M 08/10/2019 $-13.17M
Total Liabilities: $56.55M $50.48M 08/10/2019 $-6.07M
Current Assets: $16.35M $14.60M 08/10/2019 $-1.76M
Current Liabilities: $36.11M $32.23M 08/10/2019 $-3.88M
Total Debt: $12.94M $11.55M 08/10/2019 $-1.39M
Cash: $1.70M $1.52M 08/10/2019 $-0.18M
Enterprise Value: $55.19M $35.25M 02/12/1971 $-19.94M
Cash Flow: $9.61M $17.60M never $7.98M
Cash Flow Multiple: 4.57 1.43 never -3.14
Net Debt to
Cash Flow Ratio:
1.17 0.57 never -0.60
Finance within 1 year: 08/10/2019 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 08/10/2019 0.00%
Misc 08/10/2019
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 3,768,000,000 3,768,000,000 08/10/2019 0
Shares (FD): 4,608,000,000 4,608,000,000 08/10/2019 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 08/01/2016 08/10/2019 n/a
Production (Gold Eq Oz.): (guess) 
70,000
(guess) 
70,000
08/10/2019 0
Production (Silver Eq Oz.): (guess) 
6,186,297
(guess) 
7,635,569
08/10/2019 1,449,272
Initial CapEx (Outstanding): $100.00M
227.52% of Mkt.Cap
$100.00M
396.5% of Mkt.Cap
08/10/2019 $0.00M
Funding Option: n/a n/a 08/10/2019 n/a
Documentation: none PRODUCER 01/25/2020 n/a
Value Adjustment: -25% -25% never 0%

Resource Data

GOLD 08/10/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 1.50M 1.50M 08/10/2019 0.00M
Measured & Indicated: 3.00M 3.00M 08/10/2019 0.00M
Inferred: 3.00M 3.00M 08/10/2019 0.00M
Reserves & Resources: 6.00M 6.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 1.35M 1.35M 08/10/2019 0.00M
Measured & Indicated: 2.43M 2.43M 08/10/2019 0.00M
Inferred: 1.35M 1.35M 08/10/2019 0.00M
Reserves & Resources: 3.78M 3.78M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
70,000oz.
(guess) 
70,000oz.
08/10/2019 0oz.
Cash Cost: $850 $850 08/10/2019 $0.00
Extra Operating Cost: $450 $450 08/10/2019 $0.00
Average Grade: 3.00 g/t 3.00 g/t 08/10/2019 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 01/25/2020 0.00%
F
U
T
U
R
E
Proven & Probable: 5.00M 5.00M 08/10/2019 0.00M
Annual Production: 200,000oz. 200,000oz. 08/10/2019 0oz.
Cash Cost: $800 $800 08/10/2019 $0
Extra Operating Cost: $400 $400 08/10/2019 $0
SILVER 08/10/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 08/10/2019 0.00M
Measured & Indicated: n/a n/a 08/10/2019 0.00M
Inferred: n/a n/a 08/10/2019 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 08/10/2019 0.00M
Measured & Indicated: n/a n/a 08/10/2019 0.00M
Inferred: n/a n/a 08/10/2019 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 08/10/2019 $0.00
Extra Operating Cost: n/a n/a 08/10/2019 $0.00
Average Grade: n/a n/a 08/10/2019 n/a
Recovery Rate: n/a n/a 08/10/2019 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 08/10/2019 0.00M
Annual Production: n/a n/a 08/10/2019 n/a
Cash Cost: n/a n/a 08/10/2019 n/a
Extra Operating Cost: n/a n/a 08/10/2019 n/a

Property

Last Analysis Data  (08/10/2019)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Western Australia, Australia Matilda 100% (guess) 78,000 Both show
Production scheduled for 2016.

60,000 to 80,000 year.
Development Western Australia, Australia Wiluna 100% (guess) n/a Both show
5 million oz deposit.

Open pit and underground

Production in 2019.
Total Land Package Size (ha): 78,000  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Western Australia, Australia Matilda 100% (guess) 78,000 Both show
Production scheduled for 2016.

60,000 to 80,000 year.
Development Western Australia, Australia Wiluna 100% (guess) n/a Both show
5 million oz deposit.

Open pit and underground

Production in 2019.
Total Land Package Size (ha): 78,000  

Profitability (by resource)

Proven &
Probable
08/10/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 1.50M 1.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 31.06M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 1.35M 1.35M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 27.95M
Maximum Profit (Gold): $139.06M $254.51M n/a $115.46M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $139.06M $254.51M n/a $115.46M
Max Profit / Current MCap: 3.164 10.091 n/a 6.928
Max Profit Per Share (Gold): $0.03 $0.06 n/a $0.03
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.03 $0.06 n/a $0.03
Total Free Profit Per Share: $0.02 $0.05 n/a $0.03
FD Mkt. Cap / Gold Eq.: $32.56 $18.68 n/a $-13.88
FD Mkt. Cap / Silver Eq.: $0.37 $0.17 n/a $-0.20
FD Mkt. Cap / Per Metal
as % Spot Price:
2.18% 1.13% n/a -1.05%
Measured &
Indicated
08/10/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 3.00M 3.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 62.11M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 2.43M 2.43M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 50.31M
Maximum Profit (Gold): $250.30M $458.12M n/a $207.82M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $250.30M $458.12M n/a $207.82M
Max Profit / Current MCap: 5.695 18.165 n/a 12.470
Max Profit Per Share (Gold): $0.05 $0.10 n/a $0.05
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.05 $0.10 n/a $0.05
Total Free Profit Per Share: $0.04 $0.09 n/a $0.05
FD Mkt. Cap / Gold Eq.: $18.09 $10.38 n/a $-7.71
FD Mkt. Cap / Silver Eq.: $0.20 $0.10 n/a $-0.11
FD Mkt. Cap / Per Metal
as % Spot Price:
1.21% 0.63% n/a -0.58%

Reserves &
Resources
08/10/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 6.00M 6.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 124.22M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 3.78M 3.78M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 78.26M
Maximum Profit (Gold): $389.36M $712.63M n/a $323.28M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $389.36M $712.63M n/a $323.28M
Max Profit / Current MCap: 8.859 28.256 n/a 19.397
Max Profit Per Share (Gold): $0.08 $0.15 n/a $0.07
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.08 $0.15 n/a $0.07
Total Free Profit Per Share: $0.07 $0.15 n/a $0.08
FD Mkt. Cap / Gold Eq.: $11.63 $6.67 n/a $-4.96
FD Mkt. Cap / Silver Eq.: $0.13 $0.06 n/a $-0.07
FD Mkt. Cap / Per Metal
as % Spot Price:
0.78% 0.40% n/a -0.37%

Future Valuation (Cash Flow & Totals)

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