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Category: Junior: Emerging Mid-tier Producer
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Blackham Resources Ltd
www: blackhamresources.com.au     email: admin@blackhamresources.com.au

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Notes
Forum
Your Data

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$11.29M which is a fall of roughly 81% over the last eight months. As of 11/14/2018 they have ~A$19M debt and ~A$6.31M cash. They have 1,342M shares outstanding and trade on the Australian Stock Exchange and the over-the-counter markets.

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General Details

Financial 11/14/2018
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (FD): $59.23M $11.29M 02/03/2019 $-47.94M
Total Assets: $32.97M $30.86M 11/14/2018 $-2.11M
Total Liabilities: $19.48M $18.23M 11/14/2018 $-1.25M
Current Assets: $14.98M $14.03M 11/14/2018 $-0.96M
Current Liabilities: $0.97M $0.91M 11/14/2018 $-0.06M
Total Debt: $20.23M $18.94M 11/14/2018 $-1.29M
Cash: $6.74M $6.31M 11/14/2018 $-0.43M
Enterprise Value: $72.71M $23.91M 10/04/1970 $-48.80M
Cash Flow: $0.10M $9.05M never $8.95M
Cash Flow Multiple: 613.10 1.25 never -611.85
Net Debt to
Cash Flow Ratio:
139.61 1.40 never -138.21
Finance within 1 year: 11/14/2018 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 11/14/2018 0.00%
Misc 11/14/2018
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 1,340,000,000 1,342,000,000 02/03/2019 2,000,000
Shares (FD): 1,928,000,000 1,463,000,000 02/03/2019 -465,000,000
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 11/14/2018 n/a
Production (Gold Eq Oz.): (guess) 
60,000
(guess) 
60,000
11/14/2018 0
Production (Silver Eq Oz.): (guess) 
5,156,397
(guess) 
5,525,309
11/14/2018 368,912
Initial CapEx (Outstanding): $100.00M
168.85% of Mkt.Cap
$100.00M
886.04% of Mkt.Cap
11/14/2018 $0.00M
Funding Option: n/a n/a 11/14/2018 n/a
Documentation: none PRODUCER 03/30/2019 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 11/14/2018
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 1.20M 1.20M 11/14/2018 0.00M
Measured & Indicated: 3.00M 3.00M 11/14/2018 0.00M
Inferred: 3.00M 3.00M 11/14/2018 0.00M
Reserves & Resources: 6.00M 6.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 1.08M 1.08M 11/14/2018 0.00M
Measured & Indicated: 2.38M 2.38M 11/14/2018 0.00M
Inferred: 1.35M 1.35M 11/14/2018 0.00M
Reserves & Resources: 3.73M 3.73M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
60,000oz.
(guess) 
60,000oz.
11/14/2018 0oz.
Cash Cost: $800 $800 11/14/2018 $0.00
Extra Operating Cost: $400 $400 11/14/2018 $0.00
Average Grade: 3.00 g/t 3.00 g/t 11/14/2018 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 03/30/2019 0.00%
F
U
T
U
R
E
Proven & Probable: 5.00M 5.00M 11/14/2018 0.00M
Annual Production: 200,000oz. 200,000oz. 11/14/2018 0oz.
Cash Cost: $750 $750 11/14/2018 $0
Extra Operating Cost: $400 $400 11/14/2018 $0
SILVER 11/14/2018
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 11/14/2018 0.00M
Measured & Indicated: n/a n/a 11/14/2018 0.00M
Inferred: n/a n/a 11/14/2018 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 11/14/2018 0.00M
Measured & Indicated: n/a n/a 11/14/2018 0.00M
Inferred: n/a n/a 11/14/2018 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 11/14/2018 $0.00
Extra Operating Cost: n/a n/a 11/14/2018 $0.00
Average Grade: n/a n/a 11/14/2018 n/a
Recovery Rate: n/a n/a 11/14/2018 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 11/14/2018 0.00M
Annual Production: n/a n/a 11/14/2018 n/a
Cash Cost: n/a n/a 11/14/2018 n/a
Extra Operating Cost: n/a n/a 11/14/2018 n/a

Property

Last Analysis Data  (11/14/2018)
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
11/14/2018
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.): 1.20M 1.20M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 7.38M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 1.08M 1.08M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 6.64M
Maximum Profit (Gold): $1.74M $162.84M n/a $161.10M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1.74M $162.84M n/a $161.10M
Max Profit / Current MCap: 0.029 14.429 n/a 14.399
Max Profit Per Share (Gold): $0.00 $0.11 n/a $0.11
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.00 $0.11 n/a $0.11
Total Free Profit Per Share: $0.00 $0.10 n/a $0.10
FD Mkt. Cap / Gold Eq.: $54.84 $10.45 n/a $-44.39
FD Mkt. Cap / Silver Eq.: $0.64 $0.11 n/a $-0.52
FD Mkt. Cap / Per Metal
as % Spot Price:
4.56% 0.74% n/a -3.82%
Measured &
Indicated
11/14/2018
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 18.45M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 2.38M 2.38M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 14.61M
Maximum Profit (Gold): $3.83M $358.25M n/a $354.43M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $3.83M $358.25M n/a $354.43M
Max Profit / Current MCap: 0.065 31.743 n/a 31.678
Max Profit Per Share (Gold): $0.00 $0.24 n/a $0.24
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.00 $0.24 n/a $0.24
Total Free Profit Per Share: $0.00 $0.23 n/a $0.23
FD Mkt. Cap / Gold Eq.: $24.93 $4.75 n/a $-20.18
FD Mkt. Cap / Silver Eq.: $0.29 $0.05 n/a $-0.24
FD Mkt. Cap / Per Metal
as % Spot Price:
2.07% 0.34% n/a -1.74%

Reserves &
Resources
11/14/2018
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 36.89M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 3.73M 3.73M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 22.91M
Maximum Profit (Gold): $6.00M $561.81M n/a $555.81M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $6.00M $561.81M n/a $555.81M
Max Profit / Current MCap: 0.101 49.778 n/a 49.677
Max Profit Per Share (Gold): $0.00 $0.38 n/a $0.38
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.00 $0.38 n/a $0.38
Total Free Profit Per Share: $0.00 $0.37 n/a $0.37
FD Mkt. Cap / Gold Eq.: $15.90 $3.03 n/a $-12.87
FD Mkt. Cap / Silver Eq.: $0.18 $0.03 n/a $-0.15
FD Mkt. Cap / Per Metal
as % Spot Price:
1.32% 0.21% n/a -1.11%

Future Valuation (Cash Flow & Totals)

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