Total
0
Shares
Source: Black Cat Syndicate
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Black Cat Syndicate (BC8) has exercised an option to acquire a significant milling facility for the Kal East Gold Project
  • The two-mill, 1.5-million-metric-tonne-per-year facility is set to cost Black Cat $1.24 million, of which $100,000 has been paid so far
  • The company has tabled plans to construct a processing facility at the Kal East Gold project this year and is set to be located near the Imperial / Majestic deposits
  • Black Cat’s Managing Director Gareth Solly said the company is currently estimating the impact the facility has on its construction schedule and costs
  • Black Cat Syndicate closed the day up 3.01 per cent at 68.5 cents per share

Black Cat Syndicate (BC8) has exercised an option arrangement to acquire a significant milling facility for the Kal East Gold Project.

The 1.5-million-metric-tonne-per-year facility is comprised of two mills, and is expected to set the company back $1.24 million, of which Black Cat has paid $100,000 so far.

Black Cat has laid plans to construct a processing facility at the Kal East Gold Project this year, set to be located near the Imperial/Majestic deposits, approximately 50 kilometres east of Kalgoorlie.

In terms of payment, Black Cat will need to cough up $1 million within 14 days from the exercise data and a further $100,000 of the full removal of the equipment and infrastructure.

Black Cat’s Managing Director Gareth Solly said the company is currently estimating the impact the facility has on its construction schedule and costs.

One mill will be installed initially with the second reserved for future milling capacity extension.

According to the company, the traditionally configured gravity and carbon-in-leach (CIL) gold plant will be ideally suited to Black Cat’s deposits and potentially any third-party free milling ores in the region.

Equipment also included within the option includes infrastructure surrounding the mills such as steel columns, floor grating and stairs, motors pipe work and other ancillary equipment.

Black Cat Syndicate closed the day up 3.01 per cent at 68.5 cents per share.

BC8 by the numbers
More From The Market Herald

" Celamin (ASX:CNL) secures commitments to raise $3.2m

Celamin Holdings (CNL) has secured binding commitments to raise $3.2 million at 7.5 cents per share. The company will issue up to 42.6...

" Kula Gold (AXS:KGD) releases RC results at Boomerang Kaolin prospect

Kula Gold (KGD) has released reverse circulation (RC) drilling results at its Boomerang Kaolin prospect in Western Australia’s Southern Cross region.

" Winchester Energy (ASX:WEL) acquires oil field in Texas

Winchester Energy (WEL) has acquired a 100 per cent working interest in the Varn oil field in Texas.
West Wits Mining (ASX:WWI) - Chairman. Michael Quinert

" West Wits Mining (ASX:WWI) increases Witwatersrand MRE by 20pc

West Wits Mining (WWI) has announced an update to the JORC mineral resource estimate (MRE) at its Witwatersrand Basin Project (WBP) in South