Black Cat Syndicate Ltd. · ASX:BC8
Black Cat Syndicate — Noosa Mining Investor Conference 2022
30 slides from Black Cat Syndicate's conference presentation, July 2022
Slide 1: Noosa Mining Investor Conference
Noosa Mining Investor Conference July 2022
Slide 2: Disclaimer, distribution and disclosure
Disclaimer, distribution and disclosure Disclaimer and not for US distribution This presentation includes forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential m
Slide 3: Value Proposition
Value Significant blue sky potential Proposition • • Another Paulsens (+1Moz) Coyote underground extensions (13.5 g/t Au) • Groundrush (1.7Moz) • Callie (+14Moz) Coyote Operation – high grade & installed infrastructure • Stockpiles potentially pay for low capital restart and generate cashflow • Asse
Slide 4: Business overview
Business overview Five year vision: Resource growth to 3Moz with multiple producing assets 2.0Moz @ 2.5g/t Au 1,770km2 total Mineral Resources total landholding >$140M $105.9M 1 estimated infrastructure operating cashflow (post capital & 2 replacement cost before tax) from Kal East base case product
Slide 5: Coyote: Pathway to production
1 COYOTE Pathway to production 5
Slide 6: Coyote Gold Operation: A high-grade starter project
1 COYOTE GOLD OPERATION Project highlights A high-grade starter project Development strategy Landholding Gold Resources ~440km² 488koz @ 5.1g/t • Potential 5-year mine plan based on the initial processing of stockpiles followed by known open pit and underground Resources • Processing of existing ore
Slide 7: Coyote: Drilling underway
1 COYOTE GOLD OPERATION Drilling underway Exploration upside – near mine Rigs are on site and will operate continuously through the 2022 field season: 1 1. Infill drilling at Speedy (54koz @ 7.4 g/t Au) to support a study in 2022 5 2. Infill and extensional drilling at Kavanagh (77koz @ 13.5 g/t Au)
Slide 8: Coyote: Full geophysical review underway
1 COYOTE GOLD OPERATION Full geophysical review underway Exploration upside – regional Mineralisation controlled by intersection of NW/NE faults and folded Coyote stratigraphy; priority targets include: 7 1. Coyote West: 2km Au/As anomaly immediately west of Coyote mine; possible plunge extension 1
Slide 9: Paulsens Gold Operation: Pathway to production
2 PAULSENS GOLD OPERATION Pathway to production 9
Slide 10: Paulsens: A high quality, well maintained operation
2 PAULSENS GOLD OPERATION Project highlights A high quality, well maintained operation Development strategy Landholding Gold Resources • Significant remnant mining opportunities based on the previously defined Ore Reserve ~530km² 217koz @ 2.5g/t located close to existing development • High priority
Slide 11: Paulsens: Drilling starting in September 2022
2 PAULSENS GOLD OPERATION Drilling starting in September 2022 Exploration upside – near mine Drilling planned to commence in September 2022 following completion of structural & geophysics reviews 1. Upper and Lower Gabbro Veins: extensions of high-grade mineralisation close to existing infrastructur
Slide 12: Significant regional potential with limited previous work
2 PAULSENS GOLD OPERATION Significant regional potential with limited previous work Exploration upside – regional Advanced and untested exploration targets hosted on splay structures from Nanjilgard Fault: 1. Paulsens Underground Extension: Extensions 8 around current system 2. Paulsens East/Eagle R
Slide 13: Kal East: Pathway to production
3 KAL EAST Pathway to production 13
Slide 14: Kal East: Initial production plan - development ready
3 KAL EAST GOLD PROJECT Project highlights Initial production plan - development ready Development strategy – project is in the Go Bay Landholding Gold Resources • Key permits in place and long-lead time items acquired 800km² 1,294koz @ 2.1g/t • Initial Ore Reserve underpins a five+ year mine life •
Slide 15: Pre-Feasibility Study and Ore Reserve
3 KAL EAST GOLD PROJECT Pre-Feasibility Study and Ore Reserve A robust PFS completed to a high standard – with upside Key Metrics Units Study Outcomes • PFS completed and Kal East is in ‘the Go Bay’ Ore Reserve Gold Price A$oz 2,300 • Operating cashflow (after all capital and before tax) of $105.9M
Slide 16: Kal East Forecast AISC
3 KAL EAST GOLD PROJECT Forecast AISC AISC (A$/oz) 3,500 3,000 Highly competitive forecast AISC in comparison to current Australian gold production 2,500 2,000 1,500 1,000 500 0 Kal East Gruyere Rosemount Mount Monger Davyhurst Karlawinda Darlot Tropicana Mt Magnet Yandal Cowal Leonora Mt Rawdon Moo
Slide 17: Investment Summary: Pathway to production
INVESTMENT SUMMARY Pathway to production 17
Slide 18: Simple structure, experienced team
Simple structure, experienced team Corporate Information Board of Directors Shares on Issue (post acquisition) 213.6M Gareth Solly Previous roles include senior management roles with Managing Director Norilsk Nickel, Silver Lake Resources and Saracen Gold Options @ ~$0.39 (av.) 14.7M BSc (1st Class
Slide 19: Track record of rapid Resource growth
Track record of rapid Resource growth oz 2,500,000 Resource growth to >2Moz in 4 years: • 1.3Moz Resource acquired • 0.8Moz Resource discovered 2,000,000 • For every 1oz acquired, 1.5oz discovered (before Coyote & Paulsens acquisition) 1,500,000 981,000 1,000,000 Inferred 523,000 Measured/Indicated
Slide 20: Attractive valuation compared to peers
Attractive valuation compared to peers A$EV/oz $350 $300 $250 $200 $150 Low Enterprise Value per Resource ounce compared to Australian gold mining and developer peers $100 $50 $0 Black Cat Westgold St Barbara Dacian Gold De Grey Regis Ramelius Genesis Gold Road Calidus Bellevue Gold Beacon Capricorn
Slide 21: Building a strong foundation
Building a strong foundation • Drilling at Coyote • Drilling at Paulsens • Drilling at Kal East and • Myhree grade control • Second rig at Coyote Paulsens July August September October November December • Assaying Coyote • Drilling and results • Potential Myhree toll stockpiles from Coyote treatment
Slide 22: Investment summary
Investment summary • Key pillars in place for building a new multi-operation gold miner • 2Moz Mineral Resource across three projects in WA • Established processing infrastructure in two regionally strategic areas • First studies to be completed in 2022 targeting low capital restarts • Currently dri
Slide 23: Thank you.
Thank you. Level 3, 52 Kings Park Road, West Perth WA 6005 PO Box 184, West Perth WA 6872 +61 (0)458 007 713 admin@bc8.com.au ABN 63 620 896 282 www.blackcatsyndicate.com.au
Slide 24: Appendices
APPENDICES Pathway to production 24
Slide 25: Comparative chart data and sourcing
Comparative chart data and sourcing Market Capitalisation Company Status Enterprise Value Resource (total oz) EV/Resource Resource disclosure (9-Jun-22) Black Cat Syndicate Developer (PFS) $81,091,199 $43,762,199 2,000,000 $21.88 25-May-22 Westgold Resources Producer $568,195,399 $388,195,399 7,900,
Slide 26: Comparative chart data and sourcing
Comparative chart data and sourcing Black Cat Westgold Company Units St Barbara Dacian Gold De Grey Mining Regis Resources Syndicate Resources Measured Moz 0.07 1,08 2.04 0.30 0.26 1.21 Grade g/t Au 5.6 3.4 1.7 1.0 1.7 0.9 Indicated Moz 0.88 4.22 11.60 0.97 6.59 6.77 Grade g/t Au 2.5 2.0 2.0 1.9 1.3
Slide 27: Mineral Resources - Summary
Mineral Resources - Summary Measured Resource Indicated Resource Inferred Resource Total Resource Operation/ Project Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade (g/t Metal (‘000s) (g/t Au) (‘000oz) (‘000s) (g/t Au) (‘000oz) (‘000s) (g/t Au) (‘000oz) (‘000s) Au) (‘000oz) Ope
Slide 28: Ore Reserves - Kal East
Ore Reserves - Kal East Probable Total Deposit Tonnes (‘000s) Grade (g/t Au) Ounces Tonnes (‘000s) Grade (g/t Au) Ounces Myhree 584,500 2.4 45,600 584,500 2.4 45,600 Boundary 119,500 1.5 5,700 119,500 1.5 5,700 Open Pit Ore Reserves Jones Find 349,500 1.5 16,500 349,500 1.5 16,500 Fingals Fortune 2,
Slide 29: JORC 2012 Resource table - Kal East
JORC 2012 Resource table - Kal East Notes on Resources: Measured Resource Indicated Resource Inferred Resource Total Resource 1. The preceding statements of Mineral Resources conforms to the ‘Australasian Code for Reporting of Exploration Results Mining Centre Mineral Resources and Ore Reserves (JOR
Slide 30: JORC 2012 Resource table - Coyote and Paulsens
JORC 2012 Resource table - Coyote and Paulsens Measured Resource Indicated Resource Inferred Resource Total Resource Notes on Resources: 1. The preceding statements of Mineral Resources conforms to the ‘Australasian Code for Metal Metal Metal Metal Reporting of Exploration Results Mineral Resources
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