Funding, Gold, News

Paulsens on track for refurbishment

alkane kaiser

Black Cat Syndicate has made “substantial progress” on the refurbishment of its Paulsens gold mine and processing facility in Nanutarra, Western Australia.

Since the beginning of 2024, Black Cat has completed the:

  • assessment of the processing facility to better plan for major refurbishment work
  • repair of fixable items
  • ordering of long lead time items to facilitate installation
  • consolidation, cataloguing and utilisation of existing stores
  • preparation of the facility for accelerated instalment of replacement components.

“The refurbishment activities conducted to date have been successful and we expect will continue to bear fruit,” Black Cat managing director Gareth Solly said. “With an experienced debt advisor in place, we expect our major debt milestones to be met.”

The activities conducted at the site this year have led to a revised cost for the refurbishment, which now sits at $18.3 million – a decrease from the $19.5 million estimated in November 2023.

“In the current gold price environment, a number of production acceleration projects are being considered and we are seeking up to $15 million of debt via an initially undrawn facility,” Solly said.

“These production acceleration projects are currently being assessed and will be advised if and when considered feasible.”

Black Cat acquired Paulsens in 2022. The company has since commenced detailed studies and an exploration campaign to expand the resource and identify further opportunities.

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