Producer · Junior / Minor · Gold · Australia
Last updated 21 June 2026
Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.
Portfolio Aggregate · 1 project
Portfolio mode — asset rows are for context only; tab totals use the company aggregation.
Black Cat Syndicate Gold Portfolio
Portfolio
Project information
As at 30 June 2025
Description
As at 30 June 2025
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.
Portfolio Aggregate
As at 30 June 2025 · inclusive
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Reserves & resources — detail
As at 30 June 2025
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Operating · 2 projects
Kal East Gold Operation
District
Project information
As at 30 June 2025
Description
As at 30 June 2025
Black Cat's principal operating hub east of Kalgoorlie, Western Australia, centred on the 1.2Mtpa Lakewood processing facility (acquired March 2025) and the Myhree and Boundary open pits, with a broader resource base across the Bulong, Mt Monger and Rowes Find mining centres (deposits include Boundary, Trump, Myhree, Fingals, Crown, Sovereign, Imperial and others). Ore from the Myhree and Boundary open pits was initially toll-treated before the Lakewood acquisition brought processing in-house. FY2025 open-pit mining produced 632,137t at 1.61g/t for 32,800oz contained gold, and the operation produced 31,007oz of gold (including third-party toll/purchased ore through Paddington). The Kal East Mineral Resource is 18.8Mt at 2.1g/t Au for 1,294koz, including an Ore Reserve of 3.7Mt at 2.0g/t Au for 243koz.
Mining metrics
As at 30 June 2025 · inclusive
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Reserves & resources — detail
As at 30 June 2025
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Paulsens Gold Operation
District
Project information
As at 30 June 2025
Description
As at 30 June 2025
A high-grade underground gold mine in the Pilbara, Western Australia, comprising the Paulsens underground mine, a 0.45Mtpa processing facility, a camp and associated infrastructure; Paulsens has historically produced over 900koz at high grades. After refurbishment, mining recommenced and the plant was recommissioned in December 2024 (first gold pour), with the operation turning cash-flow positive in June 2025. The operation's resource base also includes the Mt Clement, Belvedere, Northern Anticline and Electric Dingo deposits. FY2025 underground mining produced 8,411oz contained gold and the operation produced 8,162oz. The Paulsens Gold Operation Mineral Resource is 4.3Mt at 4.0g/t Au for 548koz (including 66koz of gold at Mt Clement), with an Ore Reserve of 0.6Mt at 4.3g/t Au for 87koz.
Mining metrics
As at 30 June 2025 · inclusive
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Reserves & resources — detail
As at 30 June 2025
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Development · 1 project
Coyote Gold Operation
District · Feasibility
Project information
As at 30 June 2025
Description
As at 30 June 2025
A high-grade gold project in the western Tanami region, comprising the Coyote Central and Bald Hill deposits plus stockpiles, with an existing processing plant. Coyote Central hosts a high-grade underground resource (430koz at 8.5g/t Au, including 356koz at 14.6g/t Au), making it one of Australia's highest-grade deposits. Since first production in 2006, Coyote has produced ~211koz at 4.9g/t Au from open pit and underground sources. The Coyote Gold Operation Mineral Resource totals 3.7Mt at 5.5g/t Au for 645koz. No Ore Reserve has yet been declared; Black Cat is progressing Coyote toward a commercial conclusion.
Mining metrics
As at 30 June 2025 · inclusive
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Reserves & resources — detail
As at 30 June 2025
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Exploration · 1 project
Mt Clement Antimony Project
Asset · Exploration
Project information
As at 30 June 2025
Description
As at 30 June 2025
One of Australia's largest undeveloped antimony deposits, located in the Pilbara within Black Cat's Paulsens district and viewed as a key element of the company's growth strategy given antimony's status as a critical mineral. The polymetallic JORC 2012 Mineral Resource (Western, Central and Eastern zones) totals 1.7Mt and contains, on an Inferred basis, ~13.9kt of antimony, ~1,460koz of silver, ~1.6kt of copper and ~18.7kt of lead, plus 66koz of gold (the gold component is reported within the Paulsens Gold Operation resource). The Eastern zone (794kt at 1.7% Sb, 17.0g/t Ag, 2.4% Pb) hosts the bulk of the antimony. The project is at exploration/pre-development stage with no Ore Reserve.
Mining metrics
As at 30 June 2025
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Reserves & resources — detail
As at 30 June 2025
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Assumptions
- The projects listed here reflect the information captured in this workspace and are not necessarily a complete picture of the company's portfolio. For authoritative figures, refer to the company's official filings.
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How to read this tab
- The tables below list unit codes most often used in the Precious Metals sector for this company. MetalPilot stores contained metal or product in the codes below; grade and tonnage use separate fields. In side-by-side comparison views (stock page Portfolio tab, watchlist By sector), heterogeneous source units are converted to each commodity's preferred display unit (for example Moz Au, kt Cu, MMbbl oil) before summing; the same canonical codes appear in project data.
What the Portfolio tab shows
- The Portfolio tab presents a project-level view of the company's reported assets, built from publicly disclosed information (technical reports, annual filings, MD&A, investor presentations, MRMR / R&R statements, NI 43-101 / NI 51-101 / SEC S-K 1300 / SEC S-K 1200 / JORC / SAMREC / PERC / PRMS / COGEH filings, and similar primary sources).
- Figures are grouped by project type (mining, oil & gas, royalty, stream, processing facility, development, portfolio aggregate) and are shown alongside the headline reserve base, headline production, headline grade / quality, cost benchmarks, estimated lifetime, commercial terms (for royalties / streams), operational capacity (for processing) and a single-figure rating where the underlying data supports one.
- Each data table on the Portfolio tab is followed by ONE Assumptions footnote describing the modelling choices for that table; KPI stat-card assumptions appear in the bottom block instead. All legal and section disclaimers are merged into a single disclaimer list at the bottom of the Portfolio tab.
Concepts in your sector — Precious metals
- Resources vs Reserves. Resources are geological estimates that could one day be mined; Reserves are the subset with a feasibility study and plausible positive economics. Measured → Indicated → Inferred describe increasing geological uncertainty; Proven → Probable are reserve labels from Measured/Indicated. Inferred resources are not convertible to reserves under most codes.
- Grade (g/t) is the headline number on gold/silver pages. High-grade is often above 5 g/t; >10 g/t is bonanza territory; below 1 g/t is bulk low-grade. Open-pit cut-offs are typically lower than underground.
- AISC (All-In Sustaining Cost) is direct cash costs + sustaining capex + royalties + corporate overhead + reclamation, per ounce produced. C1 strips sustaining capex and corporate overhead. Both are non-GAAP and defined differently across issuers.
- By-product credits. Polymetallic deposits credit by-product value against the main metal cost; negative AISC after credits does not mean the main metal is sold below cash cost.
Portfolio tab — table guide
- Portfolio KPIs — company-level headline numbers aggregated from the featured projects (project counts, attributable annual production by commodity, attributable resource base by commodity, last filing date, operator share). USD value lines multiply attributable volumes by the resolved snapshot price.
- Portfolio snapshot — one-screen summary of the portfolio: counts by type and status, country mix, reporting standards used, operator share, primary commodity, attributable annual production summary and attributable resource base summary.
- Mining — one row per mining project, with columns for project name, location, status, primary commodities, production (with rating), reserves & resources (with rating), grade (with rating), costs and estimated lifetime. Multi-commodity projects emit one summary row per commodity.
- Royalty — one row per royalty interest held by the company. Columns cover the underlying project, operator, commodity, commercial terms (rate, type, cap, area-of-interest), attributable production, attributable reserves and estimated lifetime.
- Stream — one row per metal stream held by the company. Each row shows the underlying project, the streamed commodity, the headline stream percentage, the ongoing per-ounce / per-tonne payment, and attributable production / reserves.
- Processing facilities — one row per midstream / processing facility (pipeline, fractionator, LNG train, storage cavern, refinery, smelter, mill, heap-leach pad, CPP, etc.). Columns include nameplate capacity, contracted capacity, feedstock commodities and operational footprint.
- Development — projects in development status or in a pre-production lifecycle phase. The production column is re-labelled 'Targeted production (rating)' to highlight that the figures are plans, not actuals.
- Portfolio Aggregate — a single company-level row used when the company itself publishes a portfolio rollup (e.g. company-wide 2P barrels across all properties).
- Reserves & resources — detail — a leaf-category pivot showing every reserve and resource category disclosed across the projects.
- NPV (grouped) — all NPV rows captured from the filings, grouped by commodity, resource category, development status and pricing case. Each NPV figure is shown with its discount rate, basis (before-tax / after-tax), currency and value scale.
Ownership / Working interest
- Ownership percentage means the company's working-interest share of the asset: its slice of the project before royalties and before government take. It is shown on a 0–100 scale.
- Mines, oil and gas fields, and processing facilities — this is how much of the asset belongs to the company under that working-interest idea. One hundred percent is fully owned; a lower number usually means partners share the rest.
- Royalties and streaming agreements — the percentage is often not the story; what matters economically is usually the royalty or stream rate, shown elsewhere alongside these figures.
- Oil and gas — read this as gross working interest only. Do not treat it as net production or net wells after royalties; when filings distinguish gross from net, that shows up in how the resource numbers themselves are labelled.
- Below 100% — the short summary for each project names other owners and their stakes when the source says who they are.
- NRI vs WI (O&G). Working interest (WI) is the obligation to pay a share of costs; net revenue interest (NRI) is the share of revenue after royalties and overriding-royalty interests. A 100% WI well rarely produces 100% NRI; typical onshore U.S. NRI is 75–87.5% of WI depending on the lease royalty.
- Operator vs non-operator. The operator runs day-to-day operations; non-operating partners pay their WI share of costs but do not run the asset. Some Portfolio rows show operator share where disclosed.
Unit codes, conversion cheat sheets, cost benchmarks (AISC, C1–C3), reporting standards (NI 43-101, JORC, SEC S-K 1300) and resource/reserve category definitions live in the full terminology & units reference.
Each table lists the numeric band for scores 1–5 (production and resource base; grade where applicable for mining commodities) using the same thresholds as project rating stat cards. Only commodities that appear on featured projects for this document are listed.
Gold
Silver
Copper
Lead
Copper uses kt Cu bands (Mlb Cu when lb-scale copper resources appear on featured projects). Lithium grade uses hard-rock % Li₂O bands unless brine-style extraction or brine units appear on featured projects.
Assumptions
- Presented values are denominated in currency of the country where the company is headquartered. Values like market capitalization might differ from the values visible in other parts of the page, where the currency is always USD.
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