Black Cat Syndicate (BC8) 2025 Precious Metals Summit - Beaver Creek summary

Operational performance and growth

• Achieved rapid ramp-up from zero to two producing gold operations within a year, targeting 100,000 oz per annum by year-end and aiming for 200,000 oz longer term.

• Current run rate is 80,000 oz per annum, with quarter-on-quarter production growth and three mines started in the past 12 months.

• Holds 2.5 million oz gold resources across three Western Australia projects, plus significant antimony resources.

• Maintains strong financial position with AUD 54 million in cash and bullion, no debt, and positive cash flow.

• Market capitalization exceeds AUD 700 million, with share price appreciation attributed to operational activity and gold price.

Project updates and development

• Kal East project benefits from acquisition of the Lakewood processing facility, increasing mill capacity and accelerating production.

• Two new mines, Majestic and Fingals, are being developed to supply the Lakewood mill, using a hub-and-spoke approach.

• Poulson’s mine is ramping up production, with ongoing drilling to extend mine life and explore high-grade zones.

• Coyote project in exploration/development phase, with high-grade underground resource and plans to upgrade processing plant.

• Mount Clement antimony project is being actively drilled, targeting significant resource growth and metallurgical studies.

Exploration and future outlook

• Multiple rigs are operating across projects, with ongoing drilling at Poulson’s, Mount Clement, and Coyote.

• Exploration targets include new zones and extensions, with assays pending from recent drilling.

• Plans to upgrade mill capacity at Kal East to 1.5 million tons per annum by 2026.

• Anticipates organic news flow from resource upgrades and exploration results.

• Aspires to reach a $1.5 billion market cap if 100,000 oz per annum production is achieved.