Black Cat Syndicate's aspiration to eventually become a 200,000 ounce per year gold producer is a step closer, following its plans to raise $65 million.
Shares in gold-focused Black Cat Syndicate closed trade on Friday up 4 per cent following news the first gold doré had been poured from the Myhree deposit at its Kal East gold project.
West Perth-based Black Cat Syndicate has announced plans to raise $36 million in a bid to restart operations at its Paulsens gold operation in the Pilbara.
Black Cat Syndicate has secured $60 million funding to restart the Paulsens gold mine in the Pilbara, before turning its attention to the Coyote and Kal East projects.
A decision on the restart of operations at the historic Paulsens gold mine in the Pilbara is imminent, according to the project owner Black Cat Syndicate.
Black Cat Syndicate and PKKP Aboriginal Corporation have modernised native title and heritage protection agreements at the Paulsens gold project ahead of the implementation of new laws in WA.
Black Cat Syndicate is set to raise $17 million through a share placement, at a premium to its recent share price but substantially below its previous capital raisings.
Black Cat Syndicate has launched a $10 million share placement, with three other Western Australian-based explorers also seeking funds to progress their gold and copper projects.
