Black Cat made a big bet last year, tapping equity markets to help pay for a $44.5 million acquisition of two gold projects, Coyote and Paulsens, from bigger player Northern Star.
Coyote’s total resource swelled from 488 kilo ounces at 5.1 grams per tonne of gold to 32 per cent higher at 645 kilo ounces at 5.5 grams per tonne, in drilling results posted on Monday. Black Cat’s other MThe two assets also came with processing facilities of their own, including a 300 kilo tonnes per annum plant for Coyote and a 450 ktpa facility for Paulsens.
Black Cat had a $98 million market capitalisation before the raise. Its shares were expected to strat trading again on Thursday. co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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