Blackham to undertake significant recapitalisation


  • Standstill agreement defers the 31 December 2017 repayment date of Blackham’s non-amortising term loan (“Term Loan”)
  • Discussions are well progressed to refinance the Term Loan during the standstill period and ahead of a broader recapitalisation
  • Blackham to undertake an entitlements issue to raise ~A$36 million, to be launched in mid-January 2018 following the refinancing of the Term Loan
  • The recapitalisation plan is underpinned by the intended support of Blackham’s secured lender (Orion) and key mining contractor (MACA)
  • Milan Jerkovic to become Executive Chairman, strengthening the executive management team

Blackham Resources Limited (“Blackham” or “the Company”) (ASX: BLK) is very pleased to announce the granting of an extension by its lender, Orion Fund JV Limited (“Orion”), to defer the 31 December 2017 maturity repayment date of the Term Loan to 15 January 2018, pursuant to a standstill agreement entered into by Blackham with Orion and Blackham’s key mining contractor, MACA Limited (“MACA”) and Osisko Bermuda Limited, its offtaker, forming the first step in a significant recapitalisation strategy being pursued by the Company.

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