Black Cat Syndicate (ASX:BC8) has confirmed it’s poured the company’s first bar of gold doré from its 100% owned Myhree project.
Discovered by the company in 2018, the company has now progressed to producer status from its open pit asset on the back of a funding package declared in late September.
Gold doré is a semi-pure product compared to proper bullion – but still valuable.
Open pit mining at Myhree – the method allowing Black Cat to pour its first bar – remains ongoing on-site (and now well established) with ore being mined 20m below surface and water removal ongoing.
The company noted on Friday it currently has no requirements to drill and blast, leading to lower cost profiles overall. Black Cat’s pour was undertaken at a facility called Paddington alongside third party player MMS.
“Excellent progress is being made on all fronts as we continue the pre- strip and the gold production build,” Black Cat chief Gareth Solly said.
“The first Ore parcel has been hauled and processed at Paddington resulting in first doré from Myhree.
“Myhree was discovered by Black Cat just after our listing in 2018 and to see first doré is a significant milestone … as we transition to a production organization, results for Myhree/Boundary will be shown monthly during 2024 and thereafter quarterly.”
BC8 last traded at 49.5cps.
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