Tillkännagivande • Jan 17

Black Cat Syndicate Limited Provides Updated JORC 2012 Mineral Resource at Coyote Central, Part of the 100% Owned Coyote Gold Operation in Western Australia

Black Cat Syndicate Limited provided an updated JORC 2012 Mineral Resource at Coyote Central, part of the 100% owned Coyote Gold Operation in Western Australia. Updated Coyote Central Resource: Coyote Central has known high-grade gold mineralisation identified over a strike length of approx. 1,200m and down to a depth of approx. 700m below surface in historical drilling. A long section through Coyote Central and highlights the following: Historical open pit and underground workings to a depth of approx. 320m below surface producing approx. 179koz @ 6.0g/t Au; Updated Resource averages >1,000 oz per vertical metre (OVM) down to 400m below surface with OVM increasing in line with drill density; Current high-grade open pit Resources of 69koz @ 2.9 g/t Au and underground Resources of 356koz @ 14.6 g/t Au; and The high-grade underground Resource remains open in multiple directions including along strike and at depth. Since acquiring Coyote in June 2022, Black Cat has completed successful campaigns of both RC and diamond drilling targeting both extensional and infill areas in support of Resource growth and mining studies. High grades have been consistently intersected along with multiple vein swarms which have been used to support the first combined Resource over Coyote Central since 2008. All Black Cat's 2022 drilling results (72 holes, 16,358m) have been used in determining the new Resource. Black Cat's drilling at Coyote Central focused on the previously unmined Axial Core Zone, directly north of the historical workings. This drilling has supported an increase in contained gold of 101% from 131koz to 264koz within this zone, and an overall increase in Coyote Central Resource of 58% from 267koz to 424koz. Indicated Resources have also increased significantly, with a 191% increase from 79koz to 228koz, and now accounts for approx. 54% of the total Resource. Open pit Resources are now 80% Indicated. This Resource update brings the current total Resources at Coyote to 645koz @ 5.5g/t Au. For the avoidance of doubt, the Bald Hill Resources were not updated, notwithstanding the completion of a successful drilling program 4 (6 holes, 1,062m) which identified a potential new high-grade lode near surface. Future Potential: There is a high level of prospectivity at Coyote both around existing Resources, and within the broader region. The area has not seen consistent exploration since it was owned by Anglogold Ashanti prior to operations commencing in 2006. The Resource is open at depth, with high-grade mineralisation intersected approx. 300m below the current Resource. In addition, deeper drilling has recently intersected a mineralised dolerite intrusion in the core of the Axial Core Zone 5, that returned anomalous gold (up to 0.66g/t Au). This result is highly encouraging and broadly similar to what is seen at Newmont's Oberon deposit (0.4Moz), approx. 150km along strike to the east, where the margins of the dolerite intrusion are prospective areas for shear hosted gold. Coyote Resource - Supporting Information: This Resource represents a full remodel and estimation of mineralisation within the Coyote Central area. This is the first time since 2008 that there has been a combined interpretation and estimation of the area. Previously reported Resources by Black Cat 6 were based on the consolidation and conversion to JORC 2012 of JORC 2004 estimates of seven distinct zones originally published by Tanami Gold NL 7 and subsequently by Northern Star 8. For the avoidance of doubt, the Bald Hill Resources were not updated, notwithstanding the completion of a successful drilling program 9 (6 holes, 1,062m) which identified a potential new high-grade lode near surface. Geology and Geological Interpretation: Coyote is hosted within the Tanami Orogen which comprises a sequence of folded metasediments, mafic volcanics and intrusive rocks unconformably overlying Archaean basement. The known Archaean basement includes the informally named `Billabong Complex' and the Browns Range Dome. The Tanami Orogen is a significant gold host with other major deposits located across the region including Callie 14Moz, The Granites 1.1Moz, and Groundrush 1.7Moz. Lithology: The local geology of Coyote is situated within the Killi Killi formation. These are sand rich Proterozoic turbidites comprised of poorly sorted sandstones, siltstones and variable amounts of carbonaceous mudstones. The Killi Killi sequence extends well over 100m in thickness, however the individual beds range from 0.3m to 15m thick. Within the Coyote deposit, the `Marker Siltstone' and `Kavanagh Sandstone' are important marker units for mineralisation interpretation and boundaries. The Coyote deposit is obscured by a widespread paleochannel and is deeply weathered. The oxide profile comprises weakly consolidated sand, sheetwash and alluvial lithologies and clay-dominated sequences. This is overlain by transported red aeolian sand. The deeply weathered profile sits directly over the top of the in-situ bedrock with limited saprock present. Oxidised saprolite is commonly present to depths of more than 100m. Structure: The entire Killi Killi sequence has been tightly folded into an angular anticline. The Coyote deposit is located east-west on the Coyote Anticline, within a small parasitic fold within the greater anticline, and plunges shallowly west at approx. 15°. The anticline's limbs dip from 30-50° in the northern limb and 70-90° in the southern limb. The southern limb has a secondary fold axis known as the Bugsy anticline, a drag fold associated with the Coyote Fault that offsets the stratigraphy. These limbs contain smaller faults and parasitic folds controlling mineralisation at mine scale. The Marker Siltstone and Kavanagh Sandstone have been the primary units used to delineate the sequence and orientation of the bedding and fold structures. Mineralisation: Mineralisation is hosted in narrow high-grade quartz veins that are concentrated around the fold hinge areas. The mineralisation presents in the form of quartz veins, either parallel to bedding, or along faulting within the fold hinge, and is often concentrated in areas of local folding. In areas such as the high grade Kavanagh deposit, these veins can extend completely through the fold hinge zone and often host coarse, visible gold. Drilling Techniques: Air core and RAB drilling were carried out by Acacia and subsequently AngloGold-Ashanti between 19922002. Extensive RC and diamond drilling was carried out by Tanami Gold NL following their acquisition of Coyote. Black Cat has completed extensive RC and diamond drilling since acquiring the project in mid-2022. Drilling has focused on the Axial Core Zone within Central Coyote, to both upgrade and extend the existing Resources.

Tillkännagivande • Jan 14

Black Cat Syndicate Limited Provides Update on Underground Diamond Drilling Activities Along the Gabbro Veins at the Paulsens Gold Operation

Black Cat Syndicate Limited provided an update on underground diamond drilling activities along the Gabbro Veins at the Paulsens Gold Operation (Paulsens). HIGHLIGHTS During the December 2022 quarter, 19 diamond drill holes were completed into the Gabbro Veins. Assays have been returned for another 10 holes, meaning results have now been received for the first 14 holes. Drilling into the Gabbro Veins continues to be highly encouraging with all holes to date intersecting quartz-sulphide (pyrite+/-chalcopyrite+/-galena) veins within altered gabbro, as predicted by the new geology model. Visible gold has also been intersected in several holes. As initially modelled, multiple vein swarms have been intersected with new significant assays including: 0.92m @ 11.10g/t Au from 10.16m and 1.92m @ 5.19g/t Au from 69.04m (22PGRD006). 0.50m @ 47.20g/t Au from 20.80m and 0.30m @ 20.40g/t Au from 38.90m and 2.50m @ 6.55g/t Au from 65.00m (22PGRD011), 1.03m @ 12.50g/t Au from 39.97m and 1.00m @ 13.60g/t Au from 46.57m (22PGRD012). The footwall Gabbro Veins are unmined and located adjacent to, and up to 200m from, the existing decline which was installed to access the Main Lode. The Gabbro Veins occur in the footwall over a 1km strike length and can form as swarms over areas up to 4m wide. They represent a potential new, high-priority, start-up mining area. The remaining assays for the other 5 holes already completed are expected during January 2023 and similarly contain multiple veins with visible gold logged in 22PGRD001 at approximately 70m depth. Three holes have also been completed on the Paulsens Repeat target with samples in the laboratory and additional drilling planned. Drilling is continuing, targeting extensions to the Gabbro Veins and the Main Lode and will be ongoing throughout January 2023. An upgrade to the high-grade underground Resource is expected in late January/early February 2023. Large Scale Area, 100% Controlled by Black Cat 530km2 of highly prospective ground is 100% owned and controlled by Black Cat. Existing Resource of 217koz @ 4.9g/t Au. Background Underground mining at Paulsens produced 907koz @ 7.3g/t Au at an average of 75koz pa. approximately 1Moz endowment including current Resources: Underground 89koz @ 5.9g/t Au; Mt Clement 66koz @ 1.2g/t Au, Belvedere 30koz @ 3.9g/t Au, Electric Dingo 22koz @ 1.3g/t Au and Northern Anticline 24koz @ 1.4g/t Au. Previous regional exploration largely involved surface activities with numerous gold and base metal anomalies identified but with only limited follow-up. Infrastructure in Place, Ready for a Low-Cost Restart On care and maintenance since 2018. Well maintained, 450ktpa processing facility requiring minimal restart capital. +110-person camp on site. Mine and advanced Resources on Mining Licences, minimal barriers to restart. Underground mine fully dewatered and ventilated with processing water readily available. Excellent access with sealed road and gas pipeline within 7kms of site. Significant Opportunities at All Stages - Multi-metal Potential While traditionally a gold region, Paulsens has multi-metal potential with numerous base-metal (Cu, Pb and Zn) targets, Australia's third largest antimony deposit at Mt Clement (along with Cu, Pb and Ag Resource) and thermal coal at Kazput. Paulsens is located in a prospective regional setting for orogenic gold mineralisation and the multi-metal potential remains under-explored. There are four main prospect areas - the 15km long Paulsens Structural Corridor ("PSC"), the Northern Anticline, Mt Clement and Electric Dingo. The PSC is a complex zone of faults with the main structure through the PSC being the Hardey Fault. All gold mined at the Paulsens underground mine comes from where the Hardey Fault (and related fault splays) cuts through the Paulsens Mine Gabbro. Finding similar faulted-off gabbros is a priority given the obvious grade and scale potential. Underground drilling in 2023 includes: New mining fronts located close to existing infrastructure being the Gabbro Veins and Apollo with potential for readily accessible ounces; and o Paulsens Repeat located 200m from the decline and representing a large-scale, faulted-off gabbro targeting "another Paulsens". Drilling at Paulsens commenced on 2 November 20221 targeting readily accessible, near-mine growth opportunities. The Gabbro Veins, one of several targets, are known to be mineralised over a strike length of +1km, broadly parallel to the existing underground infrastructure. Most historic mining (producing 907koz @ 7.3g/t Au) occurred within the Main Lode and the footwall Gabbro Veins present a significant new mining opportunity at Paulsens. The Gabbro Veins are located adjacent to, and up to 200m from, the existing decline and can form as swarms over areas up to 4m wide over the +1km strike length. Drilling into the Gabbro Veins has been encouraging with 19 holes completed so far, all intersecting quartz-sulphide (pyrite+/-chalcopyrite) veins within altered gabbro as predicted in Black Cat's new geology model. Multiple vein swarms were intersected in each hole and significant results from the latest 10 holes assayed include: 0.92m @ 11.10g/t Au from 10.16m and 0.15m @ 16.90g/t Au from 29.85m and 0.37m @ 8.81g/t Au from 54.82m and 1.92m @ 5.19g/t Au from 69.04m and 0.23m @ 9.83g/t Au from 83.04m and 0.49m @ 5.93g/t Au from 100.12m (22PGRD006) 0.50m @ 47.20g/t Au from 20.80m and 0.30m @ 20.40g/t Au from 38.90m and 2.50m @ 6.55g/t Au from 65.00m (22PGRD011) 1.03m @ 12.50g/t Au from 39.97m and 1.00m @ 13.60g/t Au from 46.57m (22PGRD012) 1.11m @ 8.75g/t Au from 12.06m and 1.94m @ 4.22g/t Au from 35.73m (22PGRD014) These results are consistent with previously reported assays from the first 4 holes, which included 1: 0.93m @ 2.92g/t Au from 19.07m and 1.92m @ 9.30g/t Au from 48.00m (visible gold logged) (22PGRD010) 1.09m @ 3.97g/t Au from 1.06m and 0.67m @ 12.50g/t Au from 29.12m and 0.44m @ 18.10g/t Au from 60.98m (22PGRD016) 0.98m @ 2.85g/t Au from 77.44m and 1.10m @ 4.77g/t Au from 87.95m (22PGRD019) All results are based on fire assays and a photon assay trial is underway. A recent photon re-assay trial at Coyote 2, illustrated that fire assay results may be under-reporting gold grades for coarse-gold, diamond core samples. Results for the remaining 5 holes, already completed, are expected in January 2023. Geology is encouraging with numerous veins logged and visible gold observed in 22PGRD001 at approximately 70m depth. A further program, with at least 17 new holes, testing both Gabbro Vein targets and traditional Main Lode mineralization is already underway. This drilling will be ongoing through January and February 2023. An upgrade to the high-grade underground Resource is expected in late January/early February 2023. This upgrade will include a significant reinterpretation of the current Resource based on the new geology model as well as the first 14 holes drilled and assayed by Black Cat.

Snöflinga Score
Värdering	3/6
Framtida tillväxt	6/6
Tidigare resultat	3/6
Finansiell hälsa	6/6
Utdelningar	0/6

Historiska aktiekurser
Aktuell aktiekurs	AU$1.17
52 veckors högsta	AU$1.66
52 veckors lägsta	AU$0.84
Beta	1.51
1 månads förändring	25.95%
3 månaders förändring	11.48%
1 års förändring	33.91%
3 års förändring	339.62%
5 års förändring	90.98%
Förändring sedan börsintroduktionen	288.33%

	BC8	AU Metals and Mining	AU Marknad
7D	9.4%	3.0%	-1.0%
1Y	33.9%	46.0%	-0.1%

BC8 volatility
BC8 Average Weekly Movement	10.5%
Metals and Mining Industry Average Movement	11.4%
Market Average Movement	9.7%
10% most volatile stocks in AU Market	16.8%
10% least volatile stocks in AU Market	3.9%

BC8 grundläggande statistik
Börsvärde	AU$849.14m
Vinst(TTM)	AU$18.35m
Intäkter(TTM)	AU$205.29m

BC8 resultaträkning (TTM)
Intäkter	AU$205.29m
Kostnad för intäkter	AU$160.98m
Bruttovinst	AU$44.32m
Övriga kostnader	AU$25.97m
Intäkter	AU$18.35m

Vinst per aktie (EPS)	0.025
Bruttomarginal	21.59%
Nettovinstmarginal	8.94%
Skuld/egenkapitalförhållande	0%

Uppgifter	Senast uppdaterad (UTC-tid)
Analys av företag	2026/08/21 22:18
Aktiekurs vid dagens slut	2026/08/21 00:00
Intäkter	2025/12/31
Årlig intjäning	2025/06/30

Paket	Uppgifter	Tidsram	Exempel US-källa
Företagets finansiella ställning	10 år	Resultaträkning Kassaflödesanalys Balansräkning	SEC Form 10-K SEC Form 10-Q
Analytikernas konsensusuppskattningar	+3 år	Prognos för finansiella poster Analytikernas prismål	Rapporter från analytiker Blue Matrix
Marknadspriser	30 år	Aktiekurser Utdelningar, splittar och åtgärder	ICE Marknadsdata SEC Form S-1
Ägarskap	10 år	Största aktieägare Insiderhandel	SEC Formulär 4 SEC Formulär 13D
Förvaltning	10 år	Ledningsgrupp Styrelse och verkställande direktörer	SEC Form 10-K SEC Form DEF 14A
Viktiga utvecklingstendenser	10 år	Företagsmeddelanden	SEC Formulär 8-K

Analytiker	Institution
Dale Koenders	Barrenjoey Markets Pty Limited
Richard Knights	Barrenjoey Markets Pty Limited
Paul Hissey	MA Moelis Australia Securities Pty Ltd

Black Cat Syndicate (BC8) Aktievy

Belöningar

Riskanalys

Analyst Price Targets

Internal Ore Ramp Up And Plant Expansion Will Transform This Multi Asset Gold Producer

Lakewood Expansion And Higher Grade Ore Will Reshape Long Term Earnings Profile

Costly Expansion And Volatile Ore Grades Will Test This Gold Producer’s Long Term Potential

Top Analyst Narratives

Internal Ore Ramp Up And Plant Expansion Will Transform This Multi Asset Gold Producer

Lakewood Expansion And Higher Grade Ore Will Reshape Long Term Earnings Profile

Costly Expansion And Volatile Ore Grades Will Test This Gold Producer’s Long Term Potential

Black Cat Syndicate Limited Konkurrenter

New Murchison Gold

Meeka Metals

Focus Minerals

Aurum Resources

Prishistorik och prestanda

Senaste nyheter och uppdateringar

Investor sentiment improves as stock rises 23%

nan

Black Cat Syndicate Limited to Report Q4, 2026 Results on Jul 30, 2026

BC8: Planned Capacity Expansion Will Support Stronger Future Cash Generation

Price target decreased by 13% to AU$1.70

BC8: Higher Margins And Expanded Processing Capacity Will Support Stronger Outlook

Recent updates

Investor sentiment improves as stock rises 23%

nan

Black Cat Syndicate Limited to Report Q4, 2026 Results on Jul 30, 2026

BC8: Planned Capacity Expansion Will Support Stronger Future Cash Generation

Price target decreased by 13% to AU$1.70

BC8: Higher Margins And Expanded Processing Capacity Will Support Stronger Outlook

Investor sentiment improves as stock rises 20%

Costly Expansion And Volatile Ore Grades Will Test This Gold Producer’s Long Term Potential

Internal Ore Ramp Up And Plant Expansion Will Transform This Multi Asset Gold Producer

Price target increased by 7.1% to AU$1.95

Investor sentiment deteriorates as stock falls 15%

Consensus revenue estimates decrease by 14%

Lakewood Expansion And Higher Grade Ore Will Reshape Long Term Earnings Profile

Investor sentiment improves as stock rises 15%

Investor sentiment deteriorates as stock falls 19%

First half 2026 earnings released: EPS: AU$0.048 (vs AU$0.021 loss in 1H 2025)

High number of new and inexperienced directors

Black Cat Syndicate Limited (ASX:BC8) completed the acquisition of 90km2 of tenements adjacent to Lakewood processing facility from Black Mountain Gold Ltd.

Black Cat Syndicate Limited, Annual General Meeting, Nov 27, 2025

A Piece Of The Puzzle Missing From Black Cat Syndicate Limited's (ASX:BC8) 57% Share Price Climb

New major risk - Financial position

New minor risk - Financial data availability

Independent Non-Executive Chairman exercised options to buy AU$243k worth of stock.

Black Cat Syndicate Limited Appoints Tim Mason as Chief Operating Officer

Black Cat Syndicate Limited has completed a Follow-on Equity Offering in the amount of AUD 65 million.

New minor risk - Share price stability

Black Cat Syndicate Limited (ASX:BC8) acquired Karora (Lakewood) Pty Ltd from Karora Resources Inc. for AUD 86.18 million.

Black Cat Syndicate Limited has filed a Follow-on Equity Offering in the amount of AUD 65 million.

New major risk - Financial position

Black Cat Syndicate Limited (ASX:BC8) agreed to acquire Karora (Lakewood) Pty Ltd from Karora Resources Inc. for AUD 86.18 million.

Black Cat Syndicate Limited has completed a Follow-on Equity Offering in the amount of AUD 80.329 million.

New major risk - Shareholder dilution

Non-Executive Chairman exercised options to buy AU$121k worth of stock.

Black Cat Syndicate Limited has filed a Follow-on Equity Offering in the amount of AUD 80 million.

Black Cat Syndicate Limited Announces the Appointment of Richard Laufmann as Independent Non-Executive Director

New major risk - Revenue and earnings growth

Black Cat Syndicate Limited, Annual General Meeting, Nov 27, 2024

New major risk - Shareholder dilution

Black Cat Syndicate Limited has completed a Follow-on Equity Offering in the amount of AUD 34.6575 million.

Independent Non-Executive Director exercised options to buy AU$56k worth of stock.

Black Cat Syndicate Limited Announces Resignation of Tony Polglase as Director, Effective 25 July 2024

New minor risk - Share price stability

Price target increased by 11% to AU$0.82

Black Cat Syndicate Limited announced that it has received AUD 45 million in funding

New major risk - Financial position

Price target increased by 51% to AU$0.74

Insufficient new directors

Black Cat Syndicate Limited has completed a Follow-on Equity Offering in the amount of AUD 8.3 million.

Black Cat Syndicate Limited, Annual General Meeting, Nov 30, 2023

New minor risk - Share price stability

Black Cat Syndicate Limited Announces the Resignation of Philip Crutchfield as Non-Executive Director, Effective 30 November 2023

Price target decreased by 34% to AU$0.55

Forecast breakeven date pushed back to 2025

Black Cat Syndicate Limited Provides Updated JORC 2012 Mineral Resource

Black Cat Syndicate Limited Provides an Update on Underground Diamond Drilling of the Paulsens Repeat Target At the Paulsens Gold Operation