Blackham Resources (ASX:BLK) has seen a large increase in trading volume in its securities today with the bulk made up of one crossing transaction, totalling 15,893,505 shares.
Blackham said it understands the shares were owned by Mazil Pty Ltd, a company of which former Blackham chairman Joseph Gutnick is a director and shareholder.
The shares have been acquired by BBY Limited and will be allocated to parties known to the company.
The trade will remove a major overhang in the stock, while improving certainty to other shareholders of the company.
The company is focused on the Matilda Gold Project in Western Australia, and is targeting near term cash flow from the Wiluna Gold Plant.
The plant has capacity of 1.1 – 1.5 Mtpa and is able to treat oxide ores for production of 80,000-100,000 ounces of gold annually.
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