Black Cat Syndicate (BC8) AGM 2024 Presentation summary

Strategic growth and production targets

• Aims to reach ~100,000oz gold production by end of 2025, with aspirations to exceed 200,000oz annually in the medium term.

• Three key operations: Paulsens (commissioning Dec 2024), Kal East (in production), and Coyote (organic growth focus).

• Fully funded for current growth plans, with no hedging and a focus on minimizing debt.

• Gold Acceleration Strategy leverages rising gold prices, fast-tracks production, and explores acquisition opportunities.

• Robust published studies show strong cashflow sensitivity to gold price changes, with ~$70M cashflow change per $100/oz movement.

Operational highlights and project updates

• Paulsens: 406koz @ 9.5g/t Au Resource, 450ktpa plant refurbishment on time and budget, first gold expected December 2024.

• Kal East: 1.3Moz @ 2.1g/t Au Resource, 0.24Moz @ 2.0g/t Au Reserves, plant expansion to 1.5Mtpa planned, Myhree mine producing ahead of schedule.

• Coyote: 0.65Moz @ 5.5g/t Au Resource, feasibility study acceleration, plant upgrade to 0.8Mtpa, significant discovery potential.

• Myhree gold production commenced with 4,100oz produced and strong cashflow generation.

• Antimony upside at Mt Clement, with a JORC Exploration Target of 47-103kt Sb and drilling to expand resources in 2025.

Financial and corporate overview

• Market cap of ~$374M as of November 2024, with ~$18M cash and no hedging.

• Average daily liquidity of ~2.6M shares traded; top 20 holders own ~44%.

• Directors and associates have invested ~$5.5M to date.

• Board comprises experienced mining executives with proven track records in resource growth and project delivery.

• Long-term incentive plan aligns leadership with production targets across all three operations.