Black Cat Syndicate Ltd (ASX:BC8) says production and processing from its Kal East Gold Operation in Western Australia is tracking strongly and ahead of schedule, with around 110,000 tonnes of ore mined from the Myhree/Boundary open pits by October 31.
At Myhree, the ore has been mined to 25 metres below the surface, with grade reconciliation following the block model to expectations, and a particular achievement with construction of ore parcels, which has occurred ahead of time.
At MYSP001, following haulage and processing, 559 ounces of gold dore were produced, while at MYSP002 it was 1,940 ounces and MYSP003 reached 1,605 ounces.
Overall, BC8 has produced 4,100 ounces of gold from the pits.
Managing Director Gareth Solly said activity at the project was matching expectations.
“Excellent progress is being made at Myhree/Boundary with accelerated mining delivering ~110kt of Ore, well ahead of schedule,” he said.
“Expedited cashflow from Myhree/Boundary will complement the recent $80M placement and underpin Black Cat producing more gold, sooner from multiple operations.”
BC8 shares rose following the news, and at 11:01 AEDT, they were trading at 54.5 cents – a rise of 1.87% since the market opened.
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