- Black Cat Syndicate (BC8) has entered an exclusive option to acquire a 1.5-million-tonne-per-annum milling facility for the Kal East Gold Project in WA
- To acquire the milling facility, which is made up of two mills, Black Cat will pay $1.41 million to J&P Group over three phases
- Upon receiving the facility, Black Cat will aim to construct a processing facility at Kal East during the year
- The facility has the potential to reduce capital costs and it provides security and reduces the time of equipment supply
- Furthermore, Wayne Gaiter has been appointed as Construction Manager where he will manage cost estimation and complete the detailed design of the facility
- Shares in Black Cat are down 1.49 per cent and are trading at 66 cents
Black Cat Syndicate (BC8) has entered an exclusive option to acquire a 1.5-million-tonne-per-annum milling facility for the Kal East Gold Project in WA.
To acquire the milling facility, which is made up of two mills, Black Cat will pay $1.41 million to J&P Group over three phases.
Certain conditions need to be met to ensure the facility, such as the completion of due diligence and the removal of the mill and infrastructure equipment.
Upon receiving the facility, Black Cat will aim to construct a processing facility at Kal East during the year.
The processing facility will lie near the Imperial and Majestic deposits, around 50 kilometres east of Kalgoorlie.
Only one of the mills will be operational for the time being with the second to be kept dormant until future milling capacity expansion.
The facility has the potential to reduce capital costs, provide security and reduce the time of equipment supply.
“The milling facility is ideal for our planned processing facility and includes sufficient grinding capacity for potential future expansion. The facility was operated for less than five years, has been well maintained and is in excellent condition,” Managing Director Gareth Solly commented.
“Acquiring this facility would be a major milestone for Black Cat as it immediately secured the supply of approximately 60 per cent of the equipment required to construct our planned processing facility,” he added.
Furthermore, Black Cat has appointed Wayne Gaiter as Construction Manager for the facility, where he will manage cost estimation and complete the detailed design.
Wayne has more than 40 years’ experience in the management process, having overseen large and small-scale gold, copper and base metal processing facilities.
Shares in Black Cat are down 1.49 per cent and are trading at 66 cents at 12:17 pm AEDT.