Black Cat Syndicate Ltd. · ASX:BC8
Black Cat Syndicate — Merger or Acquisition (April 2022)
43 slides from Black Cat Syndicate's merger presentation, Apr 21, 2022
Slide 1: Black Cat Syndicate – ASX: BC8, 21 April 2022
BLACK CAT SYNDICATE ASX: BC8 | 21 April 2022
Slide 2: Pathway to Production
Pathway to Production APRIL 2022
Slide 3: 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 4: The Company - Simple Structure, Experienced Team
The Company - Simple Structure, Experienced Team Pro-forma Corporate Information Board of Directors Shares on Issue (post placement) 213.4M Gareth Solly Previous roles include senior management roles with Managing Director Norilsk Nickel, Silver Lake Resources and Saracen Gold Options @ ~$0.33 (av.)
Slide 5: Transformative Transaction from Explorer to Producer
Transformative Transaction from Explorer to Producer Acquisition of Coyote & Paulsens to create new, multi-operation, Australian gold producer • 724koz @ 3.8 g/t Au, potential pathway to production • Three operations in three of the best gold regions of Australia Transformational Acquisition • Two w
Slide 6: Transaction Overview
Transaction Overview Acquisition of Coyote & Paulsens to create new, multi-operation, Australian gold producer • Coyote Gold Operation Projects to be acquired (100%) • Paulsens Gold Operation • $14.5m payable at Completion • 8.34M shares (escrowed to 30 June 2023) at Completion • $15.0m payable on o
Slide 7: Business Overview
Business Overview Coyote Gold Operation • Landholding ~440sqkm • Resources: 3.1Mt @ 5.0 g/t for 493koz Strategic Landholding • Mill: 300ktpa - only mill in Western Tanami region (expandable); 1,770km2 fully operational +180 person camp • Historic Production: >35kozpa (211koz @ 4.9 g/t) • C&M, multip
Slide 8: Attractive Acquisition and Peer Metrics
Attractive Acquisition and Peer Metrics Acquirer Project A$/oz Grade Ounces Mill/Camp A$61 Resource oz, includes: Resource (g/t Au) (Millions) • Two processing plants/camps Capricorn Metals Mt Gibson Gold Project 19 0.8 2.08 No • High-grades Genesis Minerals Kookynie Gold Project 29 1.5 0.41 No • Si
Slide 9: Coyote
COYOTE Pathway to Production
Slide 10: Coyote - Background
Coyote - Background History: Financial Year Operator Ore tonnes Grade g/t Au Recovery % Gold oz (rec) • 1998: Discovered by Anglo Gold Ashanti • 2003: Project acquired by Tanami Gold NL 2006 Tanami 82 1.8 84.0 4,032 • 2006: Construction commences 2007 Tanami 213 3.3 92.6 20,997 • 2009: Upgrade of pl
Slide 11: Coyote - Current Status
Coyote - Current Status Access: Airstrip on site or 300km from Halls Creek via Tanami Road (currently being sealed) Care & maintenance ($300k per quarter): • Everything installed, ready to go - minimal capital • ~300ktpa CIL processing facility • Fully operational +180 person camp • Buildings: admin
Slide 12: Coyote - Five Year Plan
Coyote - Five Year Plan High-grade underground Resource with simple geology: • 267koz @ 10.4 g/t Au Resource • Multiple host targets • Multiple structural controls Excellent continuity of mineralisation and repeat lodes Potential 5-year plan based on processing stockpiles and mining known Resources
Slide 13: Coyote - Regional Opportunities
Coyote - Regional Opportunities Mineralisation controlled by intersection of NW/NE faults and folded Coyote stratigraphy; priority targets include: 11 Coyote West 2km Au/As anomaly immediately west of Coyote 7 mine; possible plunge extension 22 Coyote East Untested As anomaly at fault intersection 1
Slide 14: Coyote - Unmodelled Drilling Intersections
Coyote - Unmodelled Drilling Intersections Area Gram-metres Significant Intercept Coyote 198 3.4m @ 58.36 g/t Au from 188.9m (CYUG0036) Coyote 163 2.0m @ 81.7 g/t Au from 517m (CYDD0208) Coyote 124 0.80m @154.89 g/t Au from 277.5m (CYUG0359) Coyote 72 2.0m @ 35.98 g/t Au from 206.6m (CYUG1032) Coyot
Slide 15: Paulsens
Paulsens Pathway to Production
Slide 16: Paulsens - Background
Paulsens - Background History: Financial Year Operator Ore tonnes Grade g/t Au Recovery % Gold oz (rec) • 1930’s: Melrose/Paulsens deposits first mined 2005 Intrepid 24 10.1 93.8 7,358 • 1997: High-grade gold discovered by Intrepid • 2005-2009: Mining commences, 75kozpa produced 2006 Intrepid 301 8.
Slide 17: Paulsens - Current Status
Paulsens - Current Status Access: Wyloo station airstrip or 2.5 hour drive to Paraburdoo Care & maintenance ($600k per quarter): • 450ktpa CIL processing facility • Fully operational +110 person camp • Buildings: administration, maintenance, stores, lab • Well established exploration facilities • Po
Slide 18: Paulsens - Five Year Plan
Paulsens - Five Year Plan Structural review and significant drilling planned • Repeat lode and offset positions • Apollo, gabbro veins, hangingwall lodes and shallow unmodelled mineralisation Significant remnant mining opportunities: • Current Northern Star Reserve1 • Minimal development required 20
Slide 19: Paulsens Repeats - Paulsens 3D Seismic Target
Paulsens Repeats - Paulsens 3D Seismic Target $2M 3D seismic completed in 2018 by Northern Star Identified both a Lower Gabbro and further offsets of the Paulsens Gabbro Paulsens • Lower Gabbro position tested with drilling and Gabbro confirmed Existing Target 1 Mine • 100-150m from current developm
Slide 20: Paulsens - Regional Opportunities
Paulsens - Regional Opportunities Mineralisation host on splay structures from Nanjilgard Fault; priority targets include: 1 Paulsens Underground Extension Extensions around current system 2 Paulsens East/Eagle Ridge 8 Untested Au in soil anomalies of up to 29.7 g/t Au 3 Melrose/Hardey Fault Unteste
Slide 21: Paulsens - Unmodelled Drilling Intersections
Paulsens - Unmodelled Drilling Intersections Area Gram-metres Significant Intercept Paulsens 243 1.03m @ 236.27 g/t Au from 214m (PDU3283) Paulsens 188 0.75m @ 250 g/t Au from 80.25m (PDU0251) Paulsens 174 4.8m @ 36.2 g/t Au from 24.3m (PDU0301) Paulsens 110 1.9m @ 58 g/t Au from 191m (PDU3283) Paul
Slide 22: Kal East
Kal East Pathway to Production 22 ASX: BC8 | 21 April 2022
Slide 23: Kal East - Background
Kal East - Background 1894-1914: • Gold rush at Bulong; 150koz produced 1980’s-2007: • Limited exploration by public companies 2007-2018: • Significant prospecting and small scale mining 2016-2018: • 113koz mined from Imperial/Majestic open pits 2018: • BC8 IPO - consolidate Bulong gold field (80 km
Slide 24: Kal East - Current Status
Kal East - Current Status Pre-development: • 4 Mining Centres: Myhree, Majestic, Trojan, Fingals • Resources ~1.3Moz @ 2.1 g/t Au • Approved June 2022 quarter: • Maiden Ore Reserves • Issued for construction drawings • Grid power study • Management team in place Temporary deferral of construction to
Slide 25: Kal East - Five Year Production Plan
Kal East - Five Year Production Plan MYHREE MINING CENTRE MAJESTIC MINING CENTRE FINGALS MINING CENTRE 259koz @ 2.8 g/t Au 528koz @ 2.0 g/t Au 275koz @ 2.2 g/t Au • Open at depth • 204koz @ 4.5 g/t Au (UG) (open) • Scale will grow with drilling • >1000 oz per vertical metre Myhree open pit: Signific
Slide 26: Kal East - Regional Opportunities
Kal East - Regional Opportunities Mineralisation along major/splay faults & stratigraphy; priority exploration targets include: Majestic • Crown & Jones Find (<1.5km) from planned mill Fingals • Extension of Fingals deposits to North/South • 6m @ 14.96 g/t Au from 44m1 • 2m @ 14.30 g/t Au from 122m1
Slide 27: Track Record of Rapid Resource Growth
Track Record of Rapid Resource Growth Resource - >2Moz in 4 years: BC8 Resource Growth • 1.3Moz Resource acquired • 0.8Moz Resource discovered 2,500,000 • For every 1 oz acquired, 1.5 oz discovered (before this acquisition) • Pre-transaction Compound Annual Growth Rate (CAGR) of 94% 2,000,000 Active
Slide 28: Decision to Mine Plan
Decision to Mine Plan 2022 - Build strong foundation: Mar- Jun- Sep- Dec- Mar- Jun- Sep- Dec- Mar- Jun- Sep- Dec- 3-year Activity Schedule - Coyote Metres 22 22 22 22 23 23 23 23 24 24 24 24 • Let COVID/hard border issues pass Upgrade Speedy open pit to Indicated (54koz @ 5.4 g/t Au) 10,660m • Build
Slide 29: Business Overview
Business Overview Coyote Gold Operation • Landholding ~440sqkm • Resources: 3.1Mt @ 5.0 g/t for 493koz Strategic Landholding • Mill: 300ktpa - only mill in Western Tanami region (expandable); 1,770km2 fully operational +180 person camp • Historic Production: >35kozpa (211koz @ 4.9 g/t) • C&M, multip
Slide 30: Investment Summary
Investment Summary • Five year vision to become a multi-operation gold mining business following the acquisition of Coyote and Paulsens • Highly attractive valuation based on current 2Moz Resource base with immediate Resource expansion potential • Deep pipeline of exploration opportunities close to
Slide 31: 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 63620 896 282 www.blackcatsyndicate.com.au
Slide 32: Appendices
Pathway to Production APPENDICES 32 ASX: BC8 | 21 April 2022
Slide 33: Capital Structure and Funding Timetable
Capital Structure and Funding Timetable Fully Paid Fully Options Ordinary Shares Diluted Fully Paid Ordinary Shares 141,057,811 - 141,057,811 Options @ $0.20 expiring 25 January 2023 - 9,291,147 9,291,147 Options @ $0.40 expiring 25 June 2023 - 1,450,000 1,450,000 Options @ $0.60 expiring 2 August 2
Slide 34: Sustainability & Community
Sustainability & Community Community: • Long term job creation • Regional employment and local business support • Royalties to Government and Traditional Owners Heritage Management: • Committed to cultural heritage management plans • Engaged in meaningful negotiations with relevant claimant groups E
Slide 35: Coyote - Big Picture Opportunities
Coyote - Big Picture Opportunities Extension of the Tanami - host of world class gold deposits (e.g. Callie): • Same geology: interbedded sediments +/- dolerite and tightly folded antiforms • Same key structures: located adjacent to the Trans-Tanami Fault • Same potential: numerous high grade narrow
Slide 36: Paulsens - Big Picture Opportunities
Paulsens - Big Picture Opportunities Classic orogenic gold deposit setting • Multiple splays from major crustal scale fault cutting dome • Multiple large deposits in a district • Multiple mineralising events lead to different deposit styles Underexplored • Limited regional exploration • Historic foc
Slide 37: Kal East - Big Picture Opportunities
Kal East - Big Picture Opportunities 20-50km east of the world class gold mining center of Kalgoorlie: • Similar geological/structural controls Underexplored: • Historically less exploration activity than the central/western areas of Kalgoorlie due to distance from milling infrastructure East of Kal
Slide 38: Peer Comparison Data Source
Peer Comparison Data Source Code Company Resource Announcement Share Price Date: 17 Mar 2022 OBM Ora Banda Mining 22 Oct 2021 WMC Wiluna Mining 17 Nov 2021 BC8 Black Cat Syndicate 4 Mar 2022 Peer comparison: Av. EV / Resource oz = $181 400 SBM St Barbara 18 Feb 2022, 29 Mar 2022 GCY Gascoyne Resourc
Slide 39: Coyote - Site Photos
Coyote - Site Photos 39 ASX: BC8 | 21 April 2022
Slide 40: Paulsens - Site Photos
Paulsens - Site Photos 40 ASX: BC8 | 21 April 2022
Slide 41: Resources
Resources Measured Resource Indicated Resource Inferred Resource Total Resource Operation/Project Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal (‘000s) (g/t Au) (‘000 oz) (‘000s) (g/t Au) (‘000 oz) (‘000s) (g/t Au) (‘000 oz) (‘000s) (g/t Au) (‘000 oz) Open Pit 82 3.0 8
Slide 42: JORC 2012 Resource Table - Black Cat (100% owned)
JORC 2012 RESOURCE TABLE - Black Cat (100% owned) 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
Slide 43: JORC 2012 and JORC 2004 Resource Table - Acquisition
JORC 2012 and JORC 2004 RESOURCE TABLE - Acquisition Measured Resource Indicated Resource Inferred Resource Total Resource Notes on Resources: 1. The preceding statements of Mineral Resource are produced in accordance with the 2012 Edition of the Australian Code for Reporting of Mineral Resources an
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