Blackham locks in upsized $61m financing with major commodity trader

Blackham locks in upsized $61m financing with major commodity trader

Reprinted from Stockhead.com.au

 

Special Report by Stockhead: Blackham Resources is making good on its promise to strengthen its balance sheet and start growing gold production with an updated multi-million-dollar financing deal.

Blackham (ASX:BLK) is putting in place the first part of its five-pronged strategy to turn the company around, with Mercuria Energy Group agreeing to now provide the company access to up to $61m.

Mercuria is one of the four largest privately held commodity traders globally, operating in over 50 countries. Founded in Geneva, Switzerland, Mercuria has hubs in London, Dubai, Singapore, Shanghai and Houston.

The deal includes an initial $21m via a prepaid swap on gold with a supporting hedge facility, and a commitment for a further $40m.

Read the full article on the Stockhead website.



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