Black Cat Syndicate Unveils Strong Economics for Kal East Gold Project

Black Cat Managing Director, Gareth Solly, said: “Inclusion of the Myhree and Fingals undergrounds for the first time and using current gold price and costs demonstrates just how robust Kal East is. All Resources included in the May 2024 Study remain open, providing plenty of upside and growth opportunities beyond the base case presented. As Paulsens progresses to restart we are also examining a range of commercialisation options for Kal East.”

Moving forward, Black Cat is focused on restarting its Paulsens Gold Operation in the near-term, while considering various options to commercialize Kal East. The company is targeting credit approval of a secured debt facility of up to $30 million in June 2024 to fund the Paulsens restart and may include Kal East in the security package to optimize funding terms.

Gold continues to be a sought-after precious metal, prized for its use in jewelry, as a store of value, and in various industrial applications. With ongoing economic uncertainty and geopolitical tensions, the demand for gold is expected to remain strong in the coming years. Black Cat Syndicate, with its portfolio of promising gold projects, is well-positioned to potentially capitalize on this favourable market outlook.

The updated Preliminary Feasibility Study for Kal East demonstrates the project’s potential to generate significant returns. As the company progresses with its plans to restart the Paulsens operation and explore commercialization options for Kal East, investors will be keeping a close eye on its developments in the Australian gold mining sector.