A fast emerging high-grade Australian gold producer
Black Cat Syndicate Limited (ASX:BC8) is a Western Australian gold explorer and developer.
As the owner of two of the highest grade gold deposits in Australia, both with established infrastructure in place, the Company is aiming to become a multi-operation, high-grade gold producer. After listing on the ASX in 2018, the Company has grown quickly and now holds 100% of three advanced gold deposits in Western Australia which have a combined JORC 2012 Mineral Resource that totals 26.3Mt @ 2.8 g/t Au for 2.34Moz (with the next update expected in mid-2023).
Paulsens Gold Operation
Black Cat’s current focus is the Paulsens gold operation where we are targeting a final investment decision in mid-2023, leading into first mining and gold production in 2024.

The Paulsens underground Resource was tripled to 258koz at 10.8g/t Au in February 2023 after the results of just two months of drilling by Black Cat since it acquired the operation. This boosted the overall Paulsens Resource to 401koz @ 3.3g/t Au when deposits close to the underground mine are included. The underground Resource remains open in multiple directions and two rigs have been operating underground at Paulsens since March 2023 and delivering high-grade results to support the next Resource upgrade in mid-2023.
Mining and engineering studies are underway to support the potential refurbishment of the existing 450ktpa processing plant and recommencement of underground mining. The site has been on care and maintenance since 2018 and has been well maintained. As a result, start-up costs are expected to be relatively low.
Coyote Gold Operation
At the Coyote operation, five months of drilling in the second half of 2022 focused on increasing the high-grade resource in the Coyote Central area. The drilling delivered a 60% increase in the Coyote Central Resource to 424koz @ 8.8g/t Au including 356koz @ 14.6g/t Au in the underground mining area. The Resource extends to a depth of 400m at >1,000oz/vertical metre, with mineralisation known to extend to a depth of at least 700m. All Resources remain open with mining and engineering studies underway to assess the pathway to refurbish and restart the operation.

Kal East Gold Project
A Pre-Feasibility Study (PFS) was completed in June 2022 at Black Cat’s third project, the 1.3Moz Kal East project. The PFS outlined a standalone project which would produce A$106M in pre-tax cashflow at a A$2,500/oz gold price. At the current gold price of ~A$3,000/oz revenue would be significantly increased. Advancement of the development was paused following the PFS due to the challenging labour market conditions and the success being had at Paulsens. The Kal East Resource remains open with multi-million ounce potential across the project, along with prospectivity for other base and critical metal deposits.
A fast emerging high-grade Australian gold producer
These achievements mean Black Cat now controls two of the highest grade gold deposits in Australia, both with installed infrastructure. The Company aims to maximise expenditure in the ground and is focused on its exploration activities being orientated toward future high-margin production.
The Company has an experienced Board and Management team which has successfully restarted and operated high-grade underground gold mines in Western Australia. They are aiming to repeat their success for Black Cat shareholders.
Black Cat Syndicate (ASX:BC8)
Address: Level 3, 52 Kings Park Road West Perth, WA, 6005
Telephone: 0458 007 713
Website: https://bc8.com.au/