Black Cat Syndicate (ASX:BC8) has poured the first gold bar at the restarted Paulsens Gold Operation in Western Australia.
Yesterday (22 December), the gold was poured from the refurbished processing facility, which has been completed on schedule and within budget.
Black Cat, which has a market capitalisation of $359 million, has begun commissioning of the ball mill with lower-grade material.
Meanwhile, once the gold circuit is at the required levels, carbon stripping is expected to begin in January 2025.
Managing Director Gareth Solly says this is a milestone for the company as it grows its gold production.
“Our Paulsens team combined with Maca Interquip should be immensely proud that they have successfully achieved our targets and poured first gold safely, on time and within budget,” Solly says.
“This is the perfect time to become a gold producer and we are looking forward to targeting 100,000 ounces from our operation by the end of 2025.”
As of 12.15pm AEDT today, gold’s spot price sat at $4,205.84 per ounce, according to the ABC Bullion.
Further, the company says mobile mining equipment will continue to arrive onsite throughout December to allow for the ramp up of mechanised mining from January 2025.
The Paulsens Operation lies 180km west of Paraburdoo in Western Australia. The operation comprises an underground mine, a 450,000 tonnes per year processing facility, 128 person camp, and numerous potential open pits and other related infrastructure.
Black Cat Syndicate is a multi-operation gold producer focused on its three projects called Paulsens, Coyote, and Kal East. All of the projects are located across Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Black Cat Syndicate
