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Black Cat Syndicate is progressing mine development and exploration across its Western Australian gold assets, while working to improve operating performance at Kal East and sustain production at Paulsens.
The company produced 19,153 ounces (oz) of gold during the September quarter and reaffirmed its 2027 financial year (FY27) production guidance of 80,000–90,000oz.
Black Cat managing director Chris Stone said the company’s focus during the quarter included production, progressing mine development and investing in future growth.
“Paulsens drilling continued to deliver promising results, including 4.8m at 18.8 grams per tonne gold at Lynx while identifying a new structural orientation opening a highly prospective near-surface exploration front,” Stone said.
At Kal East, the Lakewood processing facility continued to perform well, with an option to increase capacity from 1.2 million tonnes per annum (Mtpa) to 1.5Mtpa. Long-lead items have been purchased and approvals received to support the potential expansion.
However, Black Cat said its strategic acquisition of Lakewood in 2025 had resulted in less-than-optimal geological knowledge and mine performance during the quarter. The company completed an update to its mineral resources, ore reserves and mine plans at quarter end, which it said continued to support its FY27 production guidance of 44,000–48,000oz from Kal East.
Black Cat sold 18,000oz of gold at an average realised price of $6065 per ounce, generating positive operating cash flow of $39.4 million before capital expenditure.
Cash and liquid investments fell from $105.3 million to $77.6 million, primarily reflecting $39.2 million in project and growth capital and $9.7 million in exploration expenditure.
The company is also undertaking a $30 million cash improvement program focused on cost savings, contract reviews and operating efficiencies.
Its FY27 drilling budget includes $13–15 million each for Paulsens and Kal East, and $4–5 million for Coyote. The programs will target resource extensions and upgrades around existing operations to support future mine plans and extend mine life.
“Our priorities remain safe production, completion of the Kal East ramp-up and disciplined spending,” Stone said.
“With FY27 guidance established, we are focused on delivering the mine plans, improving operating performance and progressing the drilling needed to support future production.”
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