Black Cat Syndicate Gold Portfolio

Consolidated gold portfolio of Black Cat Syndicate Limited, a rapidly growing Australian gold producer building positions across three districts: the Kal East Gold Operation east of Kalgoorlie (1.2Mtpa Lakewood mill, Myhree and Boundary open pits), the Paulsens Gold Operation in the Pilbara (high-grade underground mine, 0.45Mtpa plant, first gold poured December 2024), and the Coyote Gold Operation in the western Tanami; the Mt Clement antimony project is a key growth element. The group's JORC 2012 Mineral Resource is 26.8Mt at 2.9g/t Au for 2,488koz, including an Ore Reserve of 4.3Mt at 2.4g/t Au for 330koz. FY2025 group gold production was 39,169oz (41,211oz mined), with 26,649oz sold; the company finished the year with A$54.6M of cash and bullion and zero hedging or debt facilities.