Black Cat Syndicate Unveils Robust Restart Study for Paulsens Gold Operation

Gareth Solly, Black Cat’s Managing Director, expressed enthusiasm about the study results, stating, “The May 2024 Study demonstrates that Paulsens is a cash cow and generates Operating Cashflow of $201M. We are well progressed in obtaining a secured debt facility which uses the May 2024 Study as a base case and the Internal Operating Plan as an upside case.”

“Additionally, there is potential upside to the May 2024 Study from the Internal Operating Plan, which incorporates many high-grade veins that are outside the current Resource. The Internal Operating Plan includes additional selective mining of these developed veins to build a high-grade stockpile for immediate processing once the processing facility is commissioned, which has the potential to increase and accelerate initial and life of mine cashflow. The high-grade stockpile strategy, while excluded from the May 2024 Study, will commence immediately upon full funding.”

“We are looking forward to being fully funded so that we can achieve our vision of being the dominant player in three prolific gold districts – Paulsens in the Pilbara, the Coyote Gold Operation in the Western Tanami, and the Kal East Gold Project, east of Kalgoorlie.”

Black Cat is targeting credit approval for a secured debt facility of up to $30 million by June 2024. The company may also include its Kal East project in the security package to optimize funding terms and expedite approvals. With key site management positions in place, a refurbishment contractor engaged, and the processing plant refurbishment underway, Paulsens is set in motion.

Gold, a precious metal, is widely used in jewelry, electronics, and as a store of value. The demand for gold is expected to remain strong, driven by its status as a safe-haven asset during times of economic and geopolitical uncertainty and its increasing use in technology. Black Cat Syndicate, with its Paulsens Gold Operation, is poised to potentially capitalize on this growing demand and appeal of the metal.

The May 2024 Restart Study for the Paulsens Gold Operation underscores Black Cat Syndicate’s commitment to unlocking the full potential of this high-quality asset. With a strong economic case, established infrastructure, and significant growth opportunities, investors will be watching closely to see how this story unfolds over the coming months and years.