Black Cat Syndicate Ltd. · ASX:BC8
Black Cat Syndicate — Investor Presentation (July 2020)
30 slides from Black Cat Syndicate's investor presentation, July 2020
Slide 1: Transitioning from Discovery to Mining
TRANSITIONING FROM DISCOVERY TO MINING ASX | BC8 July 2020
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: Strategic Objectives
Strategic Objectives • Targeting >1Moz in Resource - genuine scale • Definition of Mining Reserves - target >3 years of mill feed • Dominant ground position east of Kalgoorlie - substantial upside • 100% owned mill - working towards full production March 2022 quarter • Upside from drilling and acqui
Slide 4: Achievements Months Into Journey
Achievements 30 Months Into Journey • IPO January 2018 - consolidated historic Bulong gold field • Drilling success - drilled >80,000m, numerous discoveries at <A$30oz • Discovered high-grade Resources - 3.5Mt @ 2.6 g/t Au for 294,000oz • East of Kalgoorlie focus - 491km2 along ~50km Hampton-Victory
Slide 5: The Company
The Company Simple Structure, Strong Support, Experienced Team Corporate Information (post placement) Board of Directors Share Price (placement) A$0.82 Previous roles include founding Chairman of Silver Paul Chapman Lake Resources, directorships with Reliance Mining, Non-Executive Chairman Rex Miner
Slide 6: Consolidation of Opportunity
Consolidation of Opportunity Low Barriers to Mining • Proven gold region - 491km2 prospective holding - 77% of leases granted - 29% granted mining leases • Historical mining - >163,000oz @ >1oz/t (pre-1980) - ~225,000oz (post-1980) • Excellent infrastructure - all weather roads - regional mills - lo
Slide 7: Enviable Ground Position
Enviable Ground Position Location = Opportunity • Acquisition strategy - east of Kalgoorlie - historic gold field - high-grade - quality Resources and/or significant exploration potential • 5th largest landholding within 50km radius of Kalgoorlie • Other significant holders in the region include: -
Slide 8: Underexplored Potential
Underexplored Potential 50km of Prospective Structure • Control of the prospective Hampton-Victory structural corridor • Extends from Bulong ~50km to the north and south towards Fingals • Host of numerous mines/deposits - Queen Margaret Mine (~110,000oz) - Myhree Mining Centre (~250,000oz) - Cannon
Slide 9: Growing Resources
Growing Resources Line of Sight to 1Moz • Resources open with 1Moz targeted in the short-term Project Date Cut-off Tonnes Grade Contained Oz • Granted mining leases Reported g/t Au ‘000 g/t Au ‘000 • Low discovery/acquisition Myhree Mining Centre+ Mar-2020 1&2 2,832 2.7 248 costs Queen Margaret Dec-
Slide 10: Near Term Growth: Imperial and Majestic
Near Term Growth Imperial and Majestic • Near-term mining opportunities - 113,000oz mined - 260,000oz Resource - Resource is open and requires UG focus • Intercepts below pits include1 - 8m @ 23.87 g/t Au from 124m - 5m @ 43.9 g/t Au from 107m • Strong potential of increasing and upgrading Resources
Slide 11: Near Term Growth: Fingals Fortune
Near Term Growth Fingals Fortune - Untouched for 30 Years… OPEN • Near-term mining opportunities from shallow oxide Resources OPEN OPEN - 36,500oz mined - 88,000oz Resource - immediate opportunity to grow OPEN Resource and create Reserve - drill ready targets • Unmined intercepts outside the Resourc
Slide 12: Near Term Growth: Fingals Regional Potential
Near Term Growth Fingals Regional Potential • Advanced targets - Jones’ Find - similar geology to Majestic, drill ready targets, Resource potential o 3m @ 6.09 g/t Au from 47m o 5m @ 2.87 g/t Au from 36m - Volterra - along strike of Fingals trend o 2m @ 14.3 g/t Au from 122m o 2m @ 8.74 g/t Au from
Slide 13: Rowe's Find
Rowe’s Find Exciting Potential on New Frontier • Historic workings • Untouched greenstone belt • Current Resource - 148,000t @ 3.5 g/t Au for 17,000oz - defined by limited drilling up to 2005 • Better historical results include1 - 6m @ 34.00 g/t Au from 6m (RFRC11) - 10m @ 10.02 g/t Au from 39m (RFR
Slide 14: Potential Milling Strategy
Potential Milling Strategy To Master Our Own Destiny • Locate potential mill in Fingals Project - 30km radius to bulk of current Resource • Mill planning underway - targeting low capital start up - utilise local supply and services - expand capacity as Resources grow • Long lead time items identifie
Slide 15: Myhree Mining Centre
Myhree Mining Centre From Discovery to Development Pit optimisations displayed– not mined OPEN OPEN • Shallow high-grade Resource • 2.8Mt @ 2.7 g/t Au for 248,000oz • Mine study assessing a two stage pit followed by an underground • Myhree as baseload, satellite mines at Boundary, Trump and Queen Ma
Slide 16: Imperial and Majestic
Imperial and Majestic Potential Underground IMPERIAL MAJESTIC OPEN Current Resource OPEN OPEN Current Resource • 113,000oz @ 2.45 g/t Au mined • Resource - 3.2Mt @ 2.5 g/t Au for 258,000oz • Requires infill and extension of Resource - open at depth and along strike OPEN - built for open pit mining,
Slide 17: Transformation: Steps to Production
Transformation Steps to Production • Build organization - CFO, Metallurgical Manager, Geologists etc Milestone 30-Sep-20 31-Dec-20 31-Mar-21 30-Jun-21 30-Sep-21 31-Dec-21 31-Mar-22 • Increase Resources to 1Moz and secure first three years of Build Organization mill feed Drilling - Ongoing • Complete
Slide 18: Use of Funds – Pre Placement
Use of Funds – Pre Placement Dollars Spent in Ground Sources of Funds Amount Uses of Funds Amount A$M A$M Pre-IPO capital 0.6 Share issue costs 1.5 IPO (A$0.20) 6.0 Acquisition costs 1.6 Placement (A$0.20) 2.5 Corporate/Administration 1.9 Placement (A$0.43) 5.0 Exploration 7.4 Options exercised (A$0
Slide 19: Use of Placement Funds
Use of Placement Funds Dollars Spent in Ground Sources and Use of Funds Low A$M Cash at 30 June 2020 ~2.8 Capital Raising (net of costs) 9.4 Drilling - Resources/Reserves - Myhree UG -0.2 - Majestic UG -1.0 - Boundary, Trump, Queen Margaret Pits -1.0 - Fingals Fortune Pit -1.2 - Wombola Complex Pits
Slide 20: Strategic Objectives
Strategic Objectives • Targeting >1Moz in Resource - genuine scale • Definition of Mining Reserves - target >3 years of mill feed • Dominant ground position east of Kalgoorlie - substantial upside • 100% owned mill - working towards full production March 2022 quarter • Upside from drilling and acqui
Slide 21: Connect With Us
Connect With Us 6 / 16 Nicholson Road, Subiaco WA 6008 PO Box 572, Floreat WA 6014 P | +61 (0) 458 007 713 E | admin@blackcatsyndicate.com.au Twitter / Facebook | @blackcatsyn8 ABN | 63 620 896 282 www.blackcatsyndicate.com.au July 2020 ASX | BC8 21
Slide 22: Appendix 1 - Resource Reserve Activities
Appendix 1 - Resource Reserve Activities Project Area Drilling and Mining Study Expected Myhree Open Pit Approved for startup Ready Myhree Underground Geotechnical drilling and mining study underway Sep 2020 Majestic Underground Diamond and RC drilling, UG Resource and mining study Mar 2021 Boundary
Slide 23: Appendix 2 - Strategic Acquisitions Key Terms
Appendix 2 - Strategic Acquisitions Key Terms Key Terms Fingals / Rowe’s Find Yarri East Black Hills South Three Total Deposit / Option Fee $50,000 $0 $15,000 $10,000 $75,000 Cash on Option Election $- $200,000 $10,000 $20,000 $230,000 Total Cash Consideration $50,000 $200,000 $25,000 $30,000 $305,0
Slide 24: Appendix 3 - JORC 2012 Resource Table
Appendix 3 - JORC 2012 Resource Table Measured Mineral Indicated Mineral Inferred Mineral Total Mineral Resource Resource Resource Resource Notes on Resource table for Bulong, Fingals and Rowe’s Find: Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal (‘000s) (g/t Au) (000s
Slide 25: Appendix 4 - Imperial Majestic Drilling
Appendix 4 - Imperial Majestic Drilling • Context of reported intersections: 19 RC holes drilled for 4,245m by Integra Mining in early 2012 to test the continuity and extent of mineralisation at Imperial. All intersections are reported using a 1 g/t Au lower cut-off with maximum waste zones between
Slide 26: Appendix 5 - Imperial Majestic JORC Table 1
Appendix 5 - Imperial Majestic JORC Table 1 Section 1: Sampling Techniques and Data Criteria JORC Code Explanation Commentary Sampling Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement Both reverse circulation (RC) and Diamond drilli
Slide 27: Appendix 5 - Imperial Majestic JORC Table 1
Appendix 5 - Imperial Majestic JORC Table 1 Section 1: Sampling Techniques and Data Criteria JORC Code Explanation Commentary Logging Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate All RC chips and diamond drill cores have b
Slide 28: Appendix 5 - Imperial Majestic JORC Table 1
Appendix 5 - Imperial Majestic JORC Table 1 Section 1: Sampling Techniques and Data Criteria JORC Code Explanation Commentary Verification of The verification of significant intersections by either independent or alternative company personnel. On receipt of assay results from the laboratory the resu
Slide 29: Appendix 5 - Imperial Majestic JORC Table 1
Appendix 5 - Imperial Majestic JORC Table 1 Section 2: Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.) Criteria JORC Code Explanation Commentary Mineral Type, reference name/number, location and ownership including agreements or material issues
Slide 30: Appendix 5 - Imperial Majestic JORC Table 1
Appendix 5 - Imperial Majestic JORC Table 1 Section 2: Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.) Criteria JORC Code Explanation Commentary Relationship These relationships are particularly important in the reporting of Exploration Results
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