SOL has gained 10.63% voting power through the acquisition of 35.9 million shares in Blackham.
The principal activities of SOL include a portfolio of industries - its traditional field of pharmacy as well as retail, building materials, natural resources, equity investments, agriculture, telecommunications and corporate advisory.
Blackham recently raised A$35 million through a heavily-oversubscribed placement.
The funds will be used at the company's wholly-owned Matilda/Wiluna Gold Operation to fast track its existing growth strategy.
Blackham’s 100% owned 6.4 million ounce gold Matilda and Wiluna Gold Operation is located in Australia’s largest gold belt.
The Wiluna Gold Plant is located in the centre of the combined operation and can process circa 100,000 ounces of gold per annum, known as Stage 1.
The 1,000+ square kilometre tenement package has historically produced in excess of 4.3 million ounces of gold.
A mill expansion study is now in progress, known as Stage 2, which is exploring the potential to grow production beyond 200,000 ounces of gold per annum.