ASX-listed Black Cat Syndicate has started refurbishment works on the processing facility at the Paulsens gold mine, in Western Australia.
The company, which in November unveiled a new restart plan for the gold mine, is advancing procurement of long lead items, it said in a statement on Friday.
“Our team has been systematically working through the processing plant conducting maintenance work, as well as setting detailed plans for future refurbishment works. Work to date has been extremely productive with significant upside identified, particularly in the crushing circuit.
“Long lead items have been or are in the process of being ordered. We are also starting to engage with mining contractors and equipment suppliers. Activities will progressively step up as our additional financing becomes available,” said Black Cat MD Gareth Solly.
The November 2023 restart study, which is based on 406 000 oz resource, delivers 163 000 oz of gold at an all-in sustaining cost of A$1 836/oz, over a 4.2-year mine life.
At a gold price of A$2 900/oz, Paulsens will deliver operating cashflow of A$110.6-million. Each A$100/oz change in the gold price impacts the operating cashflow by A$16-million.