• Potential extension of current tailings storage capacity to >20 years
• Provides upgrade optionality for expanded tailings storage and higher throughput
• Significant step in capacity expansion to 1.5mtpa at Lakewood

Black Cat Syndicate Limited (ASX: BC8) has announced the acquisition of 90km2 of tenements adjacent to the 1.2mtpa Lakewood processing facility, part of the Kal East Gold Operation. The acquired ground is expected to be used for additional tailings storage facilities to extend the processing operations for decades. Key benefits from the acquisition include a potential extension of the current tailings storage capacity to over 20 years, providing upgrade optionality for expanded tailings storage and higher throughput, and a significant step in the capacity expansion of Lakewood to 1.5mtpa. Black Cat has been systematically making improvements to Lakewood since acquiring it in March 2025, including the commissioning of a newly installed tailings storage facility and the installation of a new gravity circuit. The expansion of Lakewood to 1.5mtpa is currently under study, with results expected in the March 2026 quarter. The acquisition is subject to completion, which is expected to occur 7 business days after the satisfaction or waiver of the Conditions Precedent. The vendor is an unrelated party, Black Mountain Gold Pty Limited, a wholly owned subsidiary of Horizon Minerals Limited.

The company is currently undertaking an engineering expansion study to expand Lakewood's processing capacity from ~1.2mtpa to ~1.5mtpa, with results expected during the March 2026 quarter. This expansion is expected to increase gold production from the Kal East Gold Operation.