BMZ Black Mountain Resources Ltd.

 
TIDMBMZ 
 
14 March 2014 
 
Manager of Company Announcements 
Australian Securities Exchange 
Level 6, 20 Bridge Street 
Sydney NSW 2000 
 
By E-Lodgement 
 
Financing Update 
 
Black Mountain Resources Limited (Black Mountain or the Company), the silver 
focused development company with interests in the USA, notes the recent 
announcement by Alcyone Resources Limited (ASX: AYN) ("Alcyone") relating to 
the termination of Alcyone's A$25m financing arrangement with Platinum 
Partners. Alcyone now intends to undertake a non-renounceable rights issue to 
raise approximately A$13.8 million. Alcyone remains committed to the previous 
A$3m financing in Black Mountain but can only be in a position to provide the 
funding once the proposed rights issue is completed. The consideration 
securities being issued to Alcyone in respect of the financing facility will be 
appropriately adjusted or otherwise dealt with in the event that the funding is 
not provided. 
 
Taking the timing of this rights issue into consideration and in order to 
expedite the project development, the Black Mountain Board has secured a $1.5 
million facility (on similar terms) subject to finalising definitive agreements 
anticipated next week. The funding will be used to finalise and move the 
Company's New Departure Silver Project into production. 
 
Black Mountain Chairman Peter Landau said, "Naturally, we are disappointed that 
this funding has been delayed and are aware of the implications on timelines at 
the New Departure Project. However, with limited work now required to bring the 
project into production we anticipate that this additional interim funding will 
ensure minimum disruption to Black Mountain's plans to become a cash 
generative, low cost producer of high grade silver. With this in mind, we look 
forward to providing further updates shortly." 
 
The Company proposes to issue 8,301,095 fully paid ordinary shares, 14,985,000 
Listed Options ($0.20; 7 May 2015), 1,000,000 Unlisted Options ($0.12; 3 years 
from issue date) and 5,000,000 Unlisted Options ($0.10; 30 November 2016) 
pursuant to debt facilities and in lieu of interest, advisor fees and local 
management on 31 March 2014 and otherwise following regulatory and/ or 
shareholder approval as applicable. The shares will be issued at a deemed issue 
price of $0.07. 
 
For and on behalf of the Board 
 
 
Peter Landau 
 
Executive Chairman 
 
For further information please visit www.blackmountainresources.com.au or 
contact: 
 
Black Mountain Resources Limited        Black Mountain Resources Limited 
 
Shannon Robinson                        Eva Bezruchko 
 
Executive Director | Corporate          Investor Relations 
Relations 
                                        E: eva@blackmountainresources.com.au 
E: 
shannon@blackmountainresources.com.au   T: +44 (0) 207 025 7040 
 
T: +61 (8) 9488 5220 
 
 
Media (Australia)                       Media (UK) 
 
PPR                                     St Brides Media & Finance Limited 
 
David Tasker                            Elisabeth Cowell 
 
T: +61 (8) 9388 0944                    T: +44 (0) 207 236 1177 
 
Joint Broker (UK)                       Joint Broker (UK) 
 
Westhouse Securities Limited            Xcap Securities 
 
Martin Davison                          Jon Belliss 
 
T: +44 (0) 207 601 6100                 T: +44 (0) 203 693 1493 
 
Nominated Advisor (UK) 
 
RFC Ambrian Limited 
 
Stuart Laing 
 
T: +61 (8) 9480 2500 
 
About Black Mountain Resources Limited 
 
Black Mountain Resources Limited is a dual listed (ASX | AIM: BMZ) silver and 
gold focused development company focussed on the advancement of three highly 
prospective previously operating assets located in two of the world's most 
developed and proven silver and gold mining regions of Idaho and Montana, USA. 
 
The Company holds a 70% interest in the New Departure Silver Project, the 
Conjecture Silver Project and the Tabor Gold and Silver Project pursuant to 45 
year leases from Chester Mining Company, Lucky Friday Extension Mining Company 
and Brush Prairie Minerals respectively. Black Mountain plans to implement low 
cost production and development programmes across all three assets. It is also 
implementing exploration programmes to capitalise on the exploration upside 
potential apparent across its portfolio. 
 
Black Mountain Resources Limited was incorporated on 29 October 2010 and is 
listed on the Australian Securities Exchange (ASX) and London's AIM Market - 
trading codes BMZ and BMZO. 
 
Forward Looking Statement 
 
Certain statements made during or in connection with this communication, 
including, without limitation, those concerning the economic outlook for the 
silver market, expectations regarding silver ore prices, production, cash costs 
and other operating results growth prospects and the outlook of the Company's 
operations including the likely commencement of commercial operations of the 
New Departure and Conjecture Silver Projects, its liquidity and the capital 
resources and expenditure, contain or comprise certain forward-looking 
statements regarding the Company's development and exploration operations 
economic performance and financial condition. Although the Company believes 
that the expectations reflected in such forward-looking statements are 
reasonable, no assurance can be given that such expectations will prove to have 
been correct. Accordingly, results could differ materially from those set out 
in the forward-looking statements as a result of, among other factors, changes 
in economic and market conditions, success of business and operating 
initiatives, changes in the regulatory environment and other government 
actions, fluctuations in silver ore prices and exchange rates and business and 
operational risk management. For a discussion of such factors refer to the 
Company's most recent annual report and half year report. The Company 
undertakes no obligation to update publicly or release any revisions to these 
forward-looking statements to reflect events or circumstances after today's 
date or to reflect the occurrence of unanticipated events. 
 
 
Black Mountain Resources Limited Ground Floor Suite 1A, Princes House 
 
ABN 55 147 106 974 1 Havelock Street 38 Jermyn Street 
 
www.blackmountainresources.com.auWest Perth WA 6005 London SW1Y 6DN 
 
info@blackmountainresources.com.auTel: +61 (8) 9488 5220 Tel: +44 (0) 207 025 7040 
 
 
Black Mountain Resources Limited Ground Floor Suite 1A, Princes House 
 
ABN 55 147 106 974 1 Havelock Street 38 Jermyn Street 
 
www.blackmountainresources.com.auWest Perth WA 6005 London SW1Y 6DN 
 
info@blackmountainresources.com.auTel: +61 (8) 9488 5220 Tel: +44 (0) 207 025 7040 
 
 
 
END 
 

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