Golden Paulson reboots Black Cats

Black Cat Syndicate has released its November restart study for its Paulsens gold mine in Western Australia’s Pilbara region.

Black Cats

Paulsens was appointed to care for care and maintenance in 2017, with Black Cat formally acquiring the mine from Northern Star Resources in June 2022.

The company has since conducted detailed studies while also undertaking exploration activities to expand the mine’s resources.

Now, WA Gold Exploration has released its latest recovery study for the mine, an improvement on its July study.

Highlights of the latest research include capital at $2,900 per ounce of gold and operating cash flow after tax of $110.6 million, compared with $81.2 million in July.

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Paulsens recorded an initial mine life of three years in July, which has now increased to 4.2 years and continues to increase. The maximum cash withdrawal amount also decreased from $41.8 million to $38.5 million.

“In just four months, the November study achieved Paulsens’ key objectives: increased production; improved recovery; reduced upfront investment costs; and stronger cash flow.” Gareth Thorley, Managing Director, Black Cat (Gareth Solly) said.

“With all approvals and a $60 million financing package in place, Paulsens is now focused on an internal operational plan that will include a number of high-grade veins that have not yet been mined in existing developments but are located outside of current resources. ”

Black Cat will continue its current surface drilling program at the Apollo and Eastern Zone deposits, which is expected to help the company achieve Paulsens’ long-term incentive target of producing 60,000 to 70,000 ounces per year.

“Regionally, we will continue exploration drilling to expand our significant resources and advance our vision to become the dominant player in three prolific gold deposits – the Paulsens in the Pilbara, the Coyote gold district to the west of Tanami and the Kal to the east. East project. “Coming from Kalgoorlie,” Thorley said.

“November’s study is an important step toward realizing this vision.”

The Black Cats are expected to bring Paulsons his first gold medal in the second half of 2024.

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