BlackEarth Minerals shareholders pay balance on unpaid shares raising $88,756

BlackEarth Minerals NL (ASX:BEM) shareholders have fully paid the balance unpaid on an additional 1,481,750 BEM partly paid ordinary shares (BEMPP) in the capital of the company. The company's shareholders paid 5.99 cents for each BEMAF, for total proceeds of $88,756.82. A statement will be issued shortly to those shareholders who paid all outstanding amounts on their BEMAF and BEMAC holdings. BlackEarth has requested that the ASX changes the designation of these 1,481,750 shares to the ASX code BEM and reduce the number of BEMAF by 1,481,750 part paid shares. Stage-2 large-scale pilot test program The company has started a three-month 60-70 tonnes, large-scale pilot, metallurgical test-work program on graphite from its Maniry Project in Madagascar. This stage 2 pilot test will finalise all process engineering related matters as part of the company’s definitive feasibility study (DFS) with results to finalise DFS processing-related parameters. Graphite concentrate produced will be used to help finalise binding offtake and downstream arrangements. The test program is planned to be completed next quarter and will assist the company to fast-track project funding and commence plant construction.