Ore Supply Agreements Key to Black Cat’s More Gold, Sooner Ambitions
Black Cat Syndicate has locked in ore purchase agreements to boost processing at Lakewood, supporting the ramp-up of its Fingals and Majestic mines under its More Gold, Sooner strategy.
- Binding agreements for up to 165,000 tonnes of ore secured
- Ore deliveries to Lakewood start November 2025
- Processing scheduled through January 2026
- Third-party ore to maximize mill utilization
- Ramp-up of Fingals and Majestic mines progressing on accelerated timeline
Strategic Ore Purchases Bolster Lakewood Throughput
Black Cat Syndicate Limited has taken a decisive step to ensure steady production at its Lakewood processing facility by signing binding Ore Purchase Agreements for up to 165,000 tonnes of ore. These agreements, inked with joint ventures involving BML Ventures Limited, Gibb River Diamonds Limited, and MEGA Resources Limited, are designed to bridge supply while the company’s Fingals open pit and Majestic underground mines ramp up operations.
Scheduled deliveries will commence in November 2025, with ore processing expected to run through December 2025 and conclude by the end of January 2026. This timeline aligns with Black Cat’s More Gold, Sooner strategy, which aims to accelerate gold output by optimizing existing assets and integrating third-party ore sources.
Maximizing Mill Utilization Amid Mine Ramp-Up
Lakewood’s processing capacity is being leveraged not only for ore extracted from Black Cat’s own Kal East mines but also for third-party ore. This approach maximizes mill utilization during the transitional period as Fingals and Majestic mines scale up production. Managing Director Gareth Solly highlighted the mutual benefits of these agreements, noting that securing ore supply ahead of full mine ramp-up is a “win-win for all parties” and will deliver “more gold, sooner.”
The ore purchase agreements include provisions for gold content adjustments based on recovery during processing, ensuring fair valuation for both Black Cat and its suppliers. Environmental standards remain a priority, with ore acceptance subject to standard environmental limits, reflecting the company’s commitment to responsible mining practices.
Looking Ahead – Drilling and Testwork to Support Growth
Beyond ore procurement, Black Cat continues to invest in exploration and development activities. Ongoing drilling at Paulsens underground and Mt Clement’s Eastern Zone, alongside co-funded geophysical surveys and metallurgical testwork, signal a broader push to sustain and grow the company’s resource base. These initiatives complement the operational ramp-up and underscore Black Cat’s integrated approach to expanding production capacity.
As the company moves toward processing the newly secured ore volumes, market watchers will be keen to see how these agreements translate into production metrics and financial performance in upcoming quarters.
Bottom Line?
Black Cat’s ore agreements set the stage for a stronger production profile, but delivery and recovery outcomes will be key to watch.
Questions in the middle?
- How will actual gold recovery compare to estimates used in ore content adjustments?
- What impact will third-party ore processing have on Lakewood’s operational costs and margins?
- Will the ramp-up at Fingals and Majestic meet the accelerated timelines projected?