Name of the Project
Coyote gold operation.
Location
Australia.
Project Owner/s
Black Cat Syndicate.
Project Description
A scoping study has detailed the potential development of an initial openpit and underground mining operation at the Coyote gold operation.
The study envisages a 200 000 oz mine grading 3.6 g/t gold, mainly from one of Australia’s highest-grade deposits – the Coyote Central resource, with 1.6-million tonnes grading 8.5 g/t gold for 430 000 oz. The current resources not included in the study amount to 2.4-million tonnes grading 4.8 g/t gold for 372 000 oz. Average recovered ounces are estimated at 44 000 oz/y, with peak production of about 55 000 oz/y in years 3 and 4, and significant potential to increase production and mine life.
The main activities at the mine include the installation of an already-owned 700 000 t/y mill, refurbishment of the existing processing facility and initial mine development.
Mining involves openpits at Coyote Central (20 months) and Sandpiper (6 months), together with underground production from Coyote Central (initially 5 years), with all operations starting during the seven-month processing facility refurbishment period.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
Capital expenditure is estimated at $80.2-million.
Planned Start/End Date
The scoping study envisages a rapid restart, with first gold estimated at about seven months from the start of the processing facility refurbishment.
Latest Developments
Black Cat Syndicated reported on June 4 that the immediate funding required to start major refurbishment works and mining activities at its Paulsens gold mine had been secured. The funds will also be used to upgrade the Coyote May 2024 scoping study to a prefeasibility study.
The company has received firm commitments for A$36-million through a two-tranche placement at A$0.27 a share, with strong support from existing shareholders, as well as several new North American and Australian institutional shareholders.
The placement was upscaled to introduce additional equity funding and to replace the A$6-million Sundy convertible note that had been terminated at no cost.
Key Contracts and Suppliers
None stated.
Contact Details for Project Information
Black Cat Syndicate, tel +61 458 007713 or email admin@bc8.com.au.