Black Cat Syndicate Ltd. · ASX:BC8
Black Cat Syndicate — RIU Explorers Conference February 2021
27 slides from Black Cat Syndicate's conference presentation, February 2021
Slide 1: Transitioning to Mining
TRANSITIONING TO MINING RIU Explorers Conference - February 2021
Slide 2: Disclaimer and Disclosure
Disclaimer and Disclosure Disclaimer This presentation includes forward-looking statements. When used in this document, the words such as “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “should” and similar expressions are forward-looking statements. Although Black Cat Syndicate
Slide 3: Investment Highlights
Investment Highlights • Large underexplored landholding: • Within 50km of Kalgoorlie - 756km2 • Significant growth potential • March 2021 targets: • Resources >1Moz • 3 years of Ore Reserve • Centralised processing facility: • Initial 500,000tpa conventional plant • Ready for expansion as Ore Reser
Slide 4: The Company
The Company Simple Structure, Strong Support, Experienced Team Corporate Information Board of Directors Share Price (17 February 2021) $0.695 Paul Chapman Previous roles include founding Chairman of Silver Lake Resources, directorships with Reliance Mining, Rex Minerals Non-Executive Chairman B
Slide 5: Kal East Gold Project Enviable Ground Position
Kal East Gold Project Enviable Ground Position • Proven gold region: • >600,000oz produced historically • 756km2 of prospective holding • 76% of leases granted • 26% granted mining leases • Significant discovery potential • Excellent infrastructure: • All weather roads • Local service providers •
Slide 6: High Grade Resources
High Grade Resources Line of Sight to 1Moz • Current Resource: Resources Tonnes Grade Contained In Study Out of Study ‘000 g/t Au ‘000 Oz ‘000 Oz ‘000 Oz • 12.3Mt @ 2.3g/t Au for 905,000oz • March 2021 targets: Myhree Mining Centre+ 2,880 2.8 259 139 120 • >1 million ounces of Resource
Slide 7: Positive Initial Mining Studies
Positive Initial Mining Studies Multiple Open Pit and Underground Mines • First pass of studies complete: Fingals Imperial/ Myhree Boundary Myhree • 3 open pits mines Summary (by mine) Units Open Pit Open Pit Fortune Majestic Underground Underground Total Open Pit • 2 underground mines •
Slide 8: Positive Initial Mining Studies
Positive Initial Mining Studies Solid Foundation for Future Growth • Initial 4 years (just the start): Mined Indicated Resource Inferred Resource Year • 70% Indicated Resource (koz) (koz) (koz) • To be included in future studies: Year 1 46 46 - • 7.9Mt @ 2.2g/t Au for 549koz Year 2 43 39 4 • Ongoi
Slide 9: Myhree Open Pit and Underground
Myhree Open Pit and Underground Low Capital, Ready to Mine Myhree Units Pit Underground Material Movement - Waste kt 9,258 189 Material Movement - Ore kt 617 390 Grade g/t Au 2.3 2.7 Contained Metal, Mined koz 46 33 Recovery % 94% 91% Recovered Metal koz 43 30 All In Sustaining Co
Slide 10: Imperial/Majestic Underground
Imperial/Majestic Underground High Grade Mining Potential Imperial/Majestic Units Underground Material Movement - Waste kt 237 Material Movement - Ore kt 533 Grade g/t Au 3.3 Contained Metal, Mined koz 57 Recovery % 91% Recovered Metal koz 51 All In Sustaining Costs A$/oz 1,498 • Un
Slide 11: Fingals Fortune
Fingals Fortune Potential for a Substantial Open Pit • Large and growing system 8km south of potential mill site • Initial production target - 26koz • Strong results in deepest drilling to the south: • Targeting maiden Reserves • 5m @ 5.63 g/t Au from 155m • March 2021 quarter • 2.49m @ 12.43 g/t A
Slide 12: Milling Strategy
Milling Strategy Centralised Processing Facility • 50km east of Kalgoorlie • Adjacent to Imperial/Majestic • Will treat typical Kalgoorlie ore types • Como Engineering design - Mar 2021 • Adsorption tanks purchased ($190k) • Ball mill - tendered/shortlisted: • ~$2M (30-weeks, payment schedule) • Exp
Slide 13: Milling Strategy
Milling Strategy Expansion Planned from Outset • Initial capacity - 500ktpa • Staged growth planned as Resource and Ore Reserves increase • Design allows for future capacity upgrade • Initial capital ± 25%, $39.2M • Upgrade capital ± 25%, $18.0M • Initial operating cost ± 25%, ~$29/t • Reducing afte
Slide 14: Transformation
Transformation Approvals Well Advanced • Granted mining leases • >97% of all Resources • Approved: Imperial • Myhree Stage 1 • Bulong intersection • Majestic and Bulong water abstraction • Expected approval timing: • Myhree Stage 2 - March 2021 • Majestic UG - April 2021 • Processing Facility - Apri
Slide 15: Transformation
Transformation Timeline for Development and Production • 2021: Milestone 30-Sep-20 31-Dec-20 31-Mar-21 30-Jun-21 30-Sep-21 31-Dec-21 31-Mar-22 30-Jun-22 • Funding • Mill construction Drilling and Studies - Ongoing • Commence mining Processing Facility - Long lead time items • Grow Resources/Ore Rese
Slide 16: Significant Regional Potential - 756km2
Significant Regional Potential - 756km2 Project Pipeline Hampton –Victory Corridor Refer ASX releases: 24 September 2019 and 29 May, 10 & 24 July, 7 & 30 October and 12 November 2020 Numerous targets along prospective corridor Anomaly 38 Targeting source of mineralised paleochannel 2m @ 47.6 g/t Au;
Slide 17: Future Growth Rowe's Find
Future Growth Rowe’s Find • Underexplored greenstone • Current Resource: • 148kt @ 3.5 g/t Au for 17koz • Intercepts within Resource1: • 6m @ 34.00 g/t Au from 6m • 10m @ 10.02 g/t Au from 39m • 2m @ 27.59 g/t Au from 62m • Intercepts not in Resource1: • 6m @ 45.67 g/t Au from 6m • 15m @ 7.44 g/t Au
Slide 18: Future Growth
Future Growth Fingals Regional • Current Resource: • 2.6Mt @ 1.8 g/t Au for 156koz • +3km Fingals Fortune trend • Historical open pit (1991) mined +36koz • Open north and south of Resource • +2km Fingals East trend • Historical open pits (1992) mined +20koz • Historical shafts (pre-WW1) • 750m strik
Slide 19: Future Growth
Future Growth Just the Beginning… DISCOVERY & UPGRADES Ongoing drilling programs FUTURE STUDIES 7.9Mt @ 2.2 g/t Au for 549koz Including: UPCOMING STUDIES Myhree UG - below 185mRL Majestic UG - below 120mRL Fingals Fortune - big pit NOV 2020 168koz for $118M cashflow February 2021 ASX │ BC8 19
Slide 20: Investment Highlights
Investment Highlights • Large underexplored landholding: • Within 50km of Kalgoorlie - 756km2 • Significant growth potential • March 2021 targets: • Resources >1Moz • 3 years of Ore Reserve • Centralised processing facility: • Initial 500,000tpa conventional plant • Ready for expansion as Ore Reser
Slide 21: Connect with us
Connect with us 8 / 16 Nicholson Road, Subiaco WA 6008 PO Box 572, Floreat WA 6014 +61 (0) 458 007 713 | admin@blackcatsyndicate.com.au Twitter / Facebook | @blackcatsyn8 ABN 63 620 896 282 www.blackcatsyndicate.com.au
Slide 22: Appendix 1 - JORC 2012 Resource Table
Appendix 1 - JORC 2012 Resource Table Measured Resource Indicated Resource Inferred Resource Total Resource Notes on Resource table for Bulong, Fingals and Rowe’s Find: Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Deposit (‘000s) (g/t Au) (000s oz) (‘000s) (g/t Au) (‘0
Slide 23: Appendix 2 - Detailed Study Financials
Appendix 2 - Detailed Study Financials Fingals Imperial/ Myhree Boundary Myhree Summary (by mine) Units Fortune Majestic Open Pit Open Pit Underground Total Open Pit Undergrounds Physicals Material Movement - Waste kt 9,258 1,591 6,319 237 189 17,595 Material Movement - Ore kt 617 131 496 533 390 2,
Slide 24: Appendix 3 - Sensitivity Analysis
Appendix 3 - Sensitivity Analysis • Operating Cashflow (after Capital & BTAX) for the combined Studies is most sensitive to gold price and gold grade and increases/reduces as follows: $2,550 oz $2,600 oz Base $2,650 oz $2,700 oz $2,750 oz 102.4 110.0 117.5 125.0 132.5 Gold price sensitivity analysis
Slide 25: Appendix 4 - Mill Capital Cost and Upgrade Cost
Appendix 4 - Mill Capital Cost and Upgrade Cost • Initially 500,000tpa, readily expandable Mill Capital Cost (by area) $M $M Engineering, Procurement, Construction, Management 4.2 2.2 • Mill capital ± 25%, $39.2M: General 2.5 1.1 • Could outsource crushing and elution (-$6.9m) Electrical 5.0 2.6 Ear
Slide 26: Appendix 5 - Mill Operating Cost and Ancillary Works
Appendix 5 - Mill Operating Cost and Ancillary Works • Mill ownership: Operating Cost (by area) A$ per tonne • Reduces cost of production Site Administration 1.08 • Reduces business risk Personnel Transport 0.51 • Increases life of operations Process & Maintenance Labour 10.49 • Adds potential busin
Slide 27: Appendix 6 - Ongoing Drilling Program
Appendix 6 - Ongoing Drilling Program 16000 100000 90000 14000 Results lag behind drilling 80000 12000 70000 10000 60000 8000 50000 40000 6000 30000 4000 20000 2000 10000 0 0 July August September October November December January February March April May June RC Actual RC Planned DD Actual DD plann
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