Black Cat Syndicate Ltd. · ASX:BC8
Black Cat Syndicate — Q4 FY26 Earnings Presentation
18 slides from Black Cat Syndicate's earnings presentation, July 2026
Slide 1: June 2026 Quarterly Results
JUNE 2026 QUARTERLY RESULTS Australian focused multi-hub gold producer JULY 2026 ASX: BC8 1
Slide 2: A Proven Platform for Growth
A PROVEN PLATFORM FOR GROWTH Successfully transitioned from an explorer to a multi-hub producer Debt-free and unhedged SHARE PRICE PER ANNUM GROWTH 3 90,833oz FY26 2.5Moz @ 2.7g/t Au produced2 High-Grade Resources +19% p.a. 1 4 $105M NO DEBT Cash and liquid investments No hedging $656M 729M Market c
Slide 3: Company Snapshot
COMPANY SNAPSHOT PRODUCTION PAULSENS PRODUCTION HUB 100% owned high-grade underground production hub • Resource: 506 koz Au @ 5.1 g/t1 • Plant capacity: 450ktpa • New discoveries at Regulus and Lynx PRODUCTION KAL EAST PRODUCTION HUB 100% owned open pit and underground production hub • Resource: 1.4
Slide 4: June Quarter Highlights
JUNE QUARTER HIGHLIGHTS Summary Black Cat total Unit FY26 FY25 YoY FY26 Q4 FY26 Q3 QoQ • Produced 20.8koz Ore processed kt 1,598 754 112% 428 407 5% Head grade g/t Au 1.92 1.75 10% 1.64 2.00 -18% • Sold 21.6koz Recovery % 92.2% 92.0% 0% 92.4% 91.6% 1% • Record Paulsens production Gold production (10
Slide 5: Strong Financial Position: $105M
STRONG FINANCIAL POSITION: $105M (Unaudited) Unit Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Cash on hand A$M 34.1 52.7 54.1 52.6 73.7 Gold bullion A$M 20.5 29.6 31.3 35.5 29.0 Listed investments A$M 1.7 7.3 5.5 3.6 2.6 Cash and liquid assets A$M 56.3 89.6 90.9 91.7 105.3 Growing balance sheet whilst mainta
Slide 6: FY26 Summary
FY26 SUMMARY (Unaudited, rounded) Unit Sep 25 Dec 25 Mar 26 Jun 26 FY26 Comment Realised gold price $/oz 5,227 6,325 6,817 6,261 6,108 100% unhedged Operating cashflows Total gold sales (BC8 100%) A$M 86 111 71 124 392 funded major Bullion movement A$M 9 2 4 (6) 9 investment across Kal Lakewood toll
Slide 7: Paulsens Operations
PAULSENS OPERATIONS Record quarterly production driven by high throughput and improved grades reflecting the positive contribution from Regulus and Lynx. KPI Paulsens Gold Operation (Quarterly) Unit Sep-25 Dec-25 Mar-26 Jun-26 FY26 Underground development M 1,200 1,307 1,251 1,322 5,079 • Strong thr
Slide 8: Paulsens Production Hub New Discoveries - Regulus & Lynx
PAULSENS PRODUCTION HUB NEW DISCOVERIES - REGULUS & LYNX Near surface high grade discoveries, confirming Paulsens as a large, fertile gold system highlighting the potential for additional mineralisation outside the historical footprint. Deposit Recent mining development Ore development: 76m Ore mine
Slide 9: Kal East Operations
KAL EAST OPERATIONS Ramping up of production from Majestic and Fingals – 100% Black Cat owned feed Kal East Gold Operation (Quarterly) Units Sep-25 Dec-25 Mar-26 Jun-26 FY26 KPI Open pit ore mined kt 248 69 151 198 666 Open pit waste mined kt - 3,244 5,439 4,863 13,546 • 4Q Production: 10,210oz Open
Slide 10: Kal East Production Hub Operations
KAL EAST PRODUCTION HUB OPERATIONS A growing portfolio of mines within 50km from the 100% owned Lakewood Processing Facility. Future Drilling Expand the Resource base and extend mine life across multiple assets. Future Drilling Asset Mineral Resources 1 Majestic Underground 1.4 Mt @ 4.4 g/t Au for 1
Slide 11: Coyote Development Hub Mining Assets
COYOTE DEVELOPMENT HUB MINING ASSETS Drilling program targeting extensions to the known high-grade mineralisation with results expected in September Asset Key Study Metrics1 Ore mined: 546 kt Coyote Ore grade: 2.8g/t Open Pit Strip ratio: 29:1 Ore mined: 714 kt Coyote Ore Grade: 5.4g/t Underground D
Slide 12: Mt Clement Growth Asset Antimony Opportunity
MT CLEMENT GROWTH ASSET ANTIMONY OPPORTUNITY Regional access to established infrastructure at Paulsens Metallurgical testing underway Engaging industry participants to determine project scale and offtake partners Future Drilling 12
Slide 13: Why Invest with BC8
WHY INVEST WITH BC8 A disciplined framework for creating shareholder value: Deliver, Discover, Develop Cash generating, a strong balance sheet and a team that has done this before Reliably operate Hubs with multiple ore sources 01 DELIVER ▪ Multiple ore source options per hub to reduce operational r
Slide 14: 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 The information in this announcement that relates to Mineral Resources was compiled by Mr.
Slide 15: BC8.com.au
BC8.COM.AU Level 4, 507 Murray Street, Perth WA 6000 PO Box 184, West Perth WA 6872 +61 (0) 458 007 713 admin@bc8.com.au ABN 63 620 896 282 ASX: BC8
Slide 16: Gold Resource Summary
GOLD RESOURCE SUMMARY Measured Resource Indicated Resource Inferred Resource Total Resource MINING CENTRE Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal (‘000) (g/t Au) (‘000 oz) (‘000) (g/t Au) (‘000 oz) (‘000) (g/t Au) (‘000 oz) (‘000) (g/t Au) (‘000 oz) Mining Depleti
Slide 17: Ore Reserves
ORE RESERVES Proven Reserve Probable Reserve Total Reserve Mining Centre Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal (‘000) (g/t Au) (‘000 oz) (‘000) (g/t Au) (‘000 oz) (‘000) (g/t Au) (‘000 oz) Kal East Gold Operation Open Pit - - - 3,288 1.8 193 3,288 1.8 193 Underground - - - 437 3.6
Slide 18: Antimony Resources Summary
ANTIMONY RESOURCES SUMMARY Grade Contained Metal Resource Tonnes Deposit Category (‘000) Au (g/t) Cu (%) Sb (%) Ag (g/t) Pb (%) Au (koz) Cu (kt) Sb (kt) Ag (koz) Pb (kt) Inferred 415 2.6 0.4 0.2 76.9 - 37 1.6 0.7 1,026 - Western Total 415 2.6 0.4 0.2 76.9 - 37 1.6 0.7 1,026 - Inferred 2,190 0.2 - 1.