# BC8 - Black Cat Syndicate



## System (18 December 2017)

Black Cat Syndicate Limited is a West Australian company focused on its Bulong Gold Project situated 25km east of Kalgoorlie. The Bulong Gold Project has a history of complex, unconsolidated ownership leading to small scale but high grade production of an estimated 151,748 oz of gold at greater than 1oz per tonne and consists of numerous potentially high grade project areas on granted mining leases with drill ready targets, including Queen Margaret, Queen Margaret North, Porphyry, Woodline and Anomaly 38. 

BC8 plans to complete infill and extensional drilling around initial exploration targets.

It is anticipated that BC8 will list on the ASX during January 2018.

http://www.blackcatsyndicate.com.au


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## greggles (3 September 2018)

Black Cat Syndicate bouncing off a low of 14c after some encouraging drilling results last week from the company's Bulong Gold Project.

It didn't take much volume to get BC8 back over 20c, so there couldn't have been many sellers under that price. I'm expecting it to consolidate a little between 20c and 25 in the short term.


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## barney (4 September 2018)

They do have some nice hits for a minnow Goldie ….. With an $8 million market cap and around $3.5 million in the bank there is plenty of potential upside if they keep getting good drill results.


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## Ann (10 March 2019)

This little goldie has shifted beyond its falling overhead resistance, is above the 200dsma and the NVI is in very positive territory (shown). The PVI is still falling away (not shown). Money flow is above the 20% level (not shown) but it seems a bit nervous and responds quickly to price movements.
A stock worth watching I feel.


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## frugal.rock (2 December 2019)

Ann said:


> A stock worth watching I feel.
> 
> View attachment 92786



~100% return since you posted!
Did you watch it all that time?

I just stumbled upon this stock accidentally on the asx company list after searching cat....
I had to put my black cat down last week.  RIP little Wispy cat. 
14 year's young. 
Cheers.
F.Rock


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## finicky (6 January 2020)

So, in keeping with the request that participants in the 2020 stocks competition explain their #1 choice I am going to give a rambling 'exposition' of BC8 a go. It's certainly not the stock I would put the biggest share of my money into (I have no cash left anyway) but rather, in the nature of the competition, a choice consistent with chasing a fast speculative gain.

These days I've belatedly arrived at the wisdom that many commentators and social media posters know a lot more than I do so I have become more reluctant to spew out enthusiastic text about stocks now. 
I won't be referring to scrawled notes or online reports much as if I interrupt the flow, the flow won't happen at all - my approach will be discursive* 
I prefer to buy stocks that have proved they can earn money so that is why a few years ago I got into NST, RRL, RMS in the gold sector - but gambling gets the better of me and BC8 got through my defences when I searched what a poster whom I follow on h.c had been talking about.
* discursive - moving from topic to topic without order

The light bulb moment was when it sunk in what a huge set of advantages entailed to a junior which aready has a small mineable resource only 25 kms from Kalgoorlie. Number one advantage is that Black Cat won't need to dilute and incur debt for a processing plant to become an active miner. There are 5 mills within trucking distance, maybe more, which I imagine will likely jump at the opportunity to toll treat or buy outright BC8's ore. 

Black Cat can get a contractor to mine the ore from open pits, so again, no significant capital needed for equipment or a decline and drives. There's 168k ozs @ 2.4 g/tonne already outlined in a close sequence of optimised pit shells with the main one, 'Myhree', holding at least 100 kozs @ 2.7 g/t. All are open along strike and at depth. The ore from Myhree metallurgically tests at > 95% recoverable gold with fast leaching time and low reagent demand. From the graphics it looks like the lode starts virtually at surface with very little waste to be removed. While I don't have a real idea of the profit margin considering contract mining, trucking and toll millng, $800/oz free cashflow seems plausible at an A$2,200 gold price, but let's say $500/oz margin, that would be $50m cash for BC8 from Myhree alone, BC8 being a company with an enterprise value on Friday of ~$18m - being m.c of $24m minus $6m or so of cash. Doesn't take account of 14m escrowed shares and 17m options @ 23c  avg - the management have looked after themselves, no surprise.

The big pay-off will come if/when they find a big one from a number of prospects they are drilling or plan to drill. So when considering a buy I saw this as a junior prospect where good quality ore could be dug up by a contractor and sold or toll milled to amply fund intense drilling campaigns without much further dilution. This for a company that currently (post placement @ 43c) would have only 115m shares fully diluted - of which the unlisted options exercised @ 23c would bring in another ~ $4m. 

The tenement package is only 20-25 kms from Northern Star's Kanowna Belle mill and I suspect this is the front running prospect for selling or toll treating the ore. Also Northern Star (NST) is a possibility for taking out the Bulong tenements or BC8 itself (just my speculation). Having taken out Newmont's half of the superpit at Kalgoorlie, NST's management sounded a bit acquisitive about the local area?

The tenements at Bulong have had little modern exploration - it was BC8's use of Australian innovated geophysics (so called SAM surveys) that found them Myhree just 7 months after listing.

From the January 2018 prospectus it looks as though a major interest down the track will be the Queen Margaret project which surrounds the Queen Margaret mine where mining  ceased in 1913. The old miners took 96 kozs out of Margaret grading at 1oz/t. Before its abandonment they dug a 400m exploratory drive east from Margaret which passed through 2 lodes and numerous 'stringer' patches. They mined a sample stope which graded at 10-12 g/t, this wasn't particularly high for them at the time, lol. Then they got water ingress and abandoned it, what with WW1 and price of gold at the time - I imagine those were factors along with more primitive dewatering technology. No-one's been back since in any serious way! A bodgy 3 holes were drilled later on but the company sounds dismissive: one hole hit a void, one was abandoned. With those grades Margaret was only mined down to 280 metres with almost no exploration below. 

Black Cat's been drilling out what could be a feasible open pit around Margaret, good grades, and then with new diamond drilling below the extent of the old mine there might be an underground option from the base of the pit. Maybe they'll have so much cash from Myhree and supplementary pits that they'll be able to dewater the Margaret shaft and that old exploration drive and set up a drilling platform from down there - just my speculation.

Other prospects are Greater Woodline containing Woodline itself which I read was the richest alluvial gold field in W.A.
There's some Kanowna Belle lookalike prospect, remember, the multi million ozs Kanowna Belle mine now run by Northern Star is only 20-25 kms away from my reading of the map.
There is 'Anomaly 38' where something heavily mineralised has been detected by BC8's SAM survey lurking around and below very high grade but short intercepts drilled by Anglo Gold in 2001. Anglo was looking for very wide low grade results suitable for a multi-million oz open pit - maybe that's why they passed, don't know.

Well that's as good as I can do, I'm exhausted, doesn't take much these days. The price of BC8 is 36 cps, up 2c today, chart might have turned at 30c. The insts and sophs paid 43 cps in the placement 3 months ago. If your interest is piqued, check out the prospectus back in Jan 2018, look at the Nov 2019 AGM presentation and lurk on the chat at various places.  Decision to mine Myhree and linked pits should come as early as June Quarter 2020. Look at that A$ gold price.

Disclosure: hold 40,000 BC8 shares @ average 26c, won't be selling any until at least double todays price (36c)
Sentiment: spec buy


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## frugal.rock (6 January 2020)

Brilliant right up Finicky!


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## fergee (6 January 2020)

BC8 looks exactly like my cup of tea, really interesting! 

Thanks to all the previous posters for all the info and bringing this onto the radar.


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## fergee (6 January 2020)

Planned Activities 2020 (from BC8 October asx announcement)
−  March 2020 quarter upgrade Resources and commence open pit optimisation;


−  March 2020 quarter ongoing extensional and exploration drilling; and


−  June 2020 quarter complete the Feasibility Study leading to potential decision to mine at Myhree/Trump.

Just thought I would attach this chart with this post as a rough road map to where we may be right now with BC8 not sure how well it will guide, but a nice visualisation none the less.


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## barney (6 January 2020)

finicky said:


> The light bulb moment was when it sunk in what a huge set of advantages entailed to a junior which aready has a small mineable resource only 25 kms from Kalgoorlie.




Very in depth post on your reasoning @finicky …. Looks interesting … Good luck with it


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## finicky (14 January 2020)

I neglected to check out this share pricing factor. While I did mention shares that are under escrow, I didn't take note of the date that they can come onto the market - much earlier than I would have guessed, *January 30*. Also I understated the number of the escrowed shares - there are 11 million more than I thought applied. I don't think that they made this second lot of escrowed shares clear but maybe it was me being obtuse.There are a also lots of options to be released from escrow Jan 30 that can then be exercised @ 20c.

I'm guessing that this large number of released escrowed shares along with cheap exercisable options will result in significant selling which will be an opportunity for retail buyers who want cheaper shares but will disadvantage those who bought recently, so sorry I was not alert to this complication. I will still be holding through any downturn and am still possibly up for 10,000 more at a price below my average so far. Good news might blunt the effect of more selling pressure.

*SECURITIES BEING RELEASED FROM ESCROW*
In accordance with Listing Rule 3.10A please be advised the following securities* will be released from ASX 
escrow on or after 30 January 2020*:
- 13,861,767 ordinary fully paid shares; and
- 12,191,112 unlisted options exercisable at $0.20 and expiring 25 January 2023.
In addition, the following securities will be released from voluntary escrow on the same date:
- 10,926,500 ordinary fully paid shares; and
- 2,600,000 unlisted options exercisable at $0.20 and expiring 25 January 2023.
Upon the cessation of the restriction period for the above stated securities, the Company will have no
restricted securities on issue.
This announcement has been approved for release by the Board of Black Cat Syndicate Limited.


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## finicky (15 January 2020)

Crikey, I'd better thoroughly check out the escrow factor in future for recently listed companies of interest.
Second gap down today. Not high volume, just no buying support.
Target? My shot would be the weak line of resistance/support around the 25c level if good news doesn't intervene. If continued lack of exciting news though, failure at 25c wouldn't surprise me and down towards 20c? Fully funded, lot's of prospective drilling going on. Don't think I'll add unless price gets near 20c


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## barney (17 January 2020)

finicky said:


> if good news doesn't intervene.




If this doesn't slow the dip nothing will ... nice results.

Usual problem for a Gold minnow is getting enough cash in the coffers. Currently have around $2 million so likely to need another cap raise down the track but more good results like that should see them raise cash with little issue.

_*HIGHLIGHTS* − Recent RC and diamond drilling at Myhree intersected several zones of high grade mineralisation.  19MYDD006 also intersected.._

_7.70m @ 21.38 g/t Au from 123.13m _

_Results include: o 3.00m @ 16.01 g/t Au from 100.50m (19MYDD006)_

_ 7.70m @ 21.38 g/t Au from 123.13m (19MYDD006) _

_4.45m @ 13.92 g/t Au from 64.55m (19MYDD007)_

_4.60m @ 10.98 g/t Au from 184.90m (19MYDD005) _

_3.24m @ 9.43 g/t Au from 192.26m (19MYDD005)_

_2.00m @ 13.20 g/t Au from 231m (19MYRC111) _


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## finicky (17 January 2020)

Hi, ~$2m cash was what they had at end of Sept 2019 as reported in the Qtrly report released Oct 15, but don't forget the capital raising via a placement to Insts and Sophs announced Oct 3. This placement was for $5m before costs and didn't make it to the Sept Qtrly cash statement.

In the activities part of the report on Oct 15 they said this: 

*Financial*

• Completed strongly supported $5M capital raising subsequent to end of quarter.

• Cash reserves of ~$6.7M to allow completion of Feasibility Study and accelerated drilling and Resource growth activities.

I'm afraid I feel the drilling results announcement was to goose the market as only one of the holes was an extension, the rest were infill holes to progress towards the March 2020 resource update. Extension hole was a good one admittedly but I think doubts will continue till Jan 30 and after when there are those ~25m shares to be added to the float and 10,926,500 options @20c that become exercisable. I'm skeptical the the s.p will hold till this is out of the way.


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## barney (17 January 2020)

finicky said:


> Hi, ~$2m cash was what they had at end of Sept 2019 as reported in the Qtrly report released Oct 15, but don't forget the capital raising via a placement to Insts and Sophs announced Oct 3. This placement was for $5m before costs and didn't make it to the Sept Qtrly cash statement.




Ah, right thanks Finicky ….. that makes things a whole lot better.  

Up 8% today and making the recent dip around 30 cents look like a bona fide double bottom.

Good results/Cash in hand … off to the races perhaps Good luck with it.


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## finicky (28 January 2020)

In the announcement today (see below) the directors are committing to a further escrow period of 1 year for their freebies, but that means that roughly half the escrowed shares and half the 20c unlisted options could still come onto the market on or after Jan 30. Guessing most of those are held by vendors of tenements, maybe they'll see more value in holding, but easy to see a scenario where some will sell shares to exercise the options - I don't know, but I don't take much reassurance from directors who rewarded themselves so richly from the outset of the company.

It's still a hold for me of course, but if buying I will be waiting for clarification till well after Jan 30. It's roughly 12.5 million shares and 8 million well in the money options that are held by *non* director entities and are not nailed down from Jan 30 onwards. That's heaps for a low share issuance company with low trading volume.

January 28
*Voluntary Restrictions Extended Over Director Related Holdings*

The Board of Black Cat Syndicate Limited (“Black Cat”) is pleased to advise that all directors and
their related parties have entered into further voluntary restriction deeds with Black Cat. This will
extend the current trading restrictions over director related shares and options for an additional 12
months to 30 January 2021. These restrictions may be lifted in the event of a change in control
transaction.
On 30 January 2020, a total of 12,028,890 ordinary fully paid shares and 6,691,112 options
exercisable at $0.20 each and expiring 25 January 2023, held by directors and/or their related parties
were to be released from ASX escrow and voluntary restrictions (refer ASX announcement 13
January 2020).
The new voluntary restriction deeds are effective from the date of expiry of the existing arrangements
and extend to 30 January 2021. The extended restrictions apply to all of the director related shares
and options being released on 30 January 2020.

All Data Weekly


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## finicky (23 February 2020)

*BC8* @ 37.5c weekly close, Fri Jan 21.

Looks like I might be wrong and buyers mopped up all extra supply from shares and options recently out of escrow. Look at the high positive volume last week (closed higher than prior week) and all that resulted was a meek indecisive doji candle. My interpretation is 4 weeks of consolidation and preparing to move higher?

Held
Disinclined to accumulate more

*All Data Weekly



*


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## finicky (11 May 2020)

Black Cat (BC8) has now recovered more than it lost in the March share price rout. Could've picked up more between 20-25c.

On May they released an announcement that's a bit obscure to me but they investigated with RC drilling some high grade vein sets running perpendicular to the main north south mineralised trend of Myhree. This got them results which I think they're saying is outside the current conceptualized pit shell?
Anyway, these results were in an area not drilled before and contiguous with the prior drilled out zone.

Check out the grades which are near surface and mostly "ended in mineralisation"

Results include (not an indication of true width):

o  28m @ 6.59 g/t Au from 5m (20MYRC020), hole ended in mineralisation;
o  3m @ 41.95 g/t Au from 41m (20MYRC014);
o  9m @ 10.11 g/t Au from 24m (20MYRC016), hole ended in mineralisation;
o  9m @ 7.84 g/t Au from 24m (20MYRC018), hole ended in mineralisation;
o  13m @ 4.6 g/t Au from 20m (20MYRC021), hole ended in mineralisation; and
o  7m @ 3.76 g/t Au from 26m (20MYRC019), hole ended in mineralisation.

BC8  1Year Dly


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## finicky (22 May 2020)

A *director appointment* announced today that adds to my suspicion that the BC8 board will just keep developing and defining the Bulong gold field till the asset or BC8 itself becomes compellingly ripe for acquisition by a major, à la Alt Resources (ARS) recently. Black Cat most likely won't go on for years having the Bulong field contract mined and toll treated. It's just too conveniently close to some big operators (e.g NST's Kanowna Belle) and Kalgoorlie.

Tony Polglase is an experienced mine developer with qualifications in engineering and metallurgy.

"Most recently, Tony Polglase was a driving force behind Avanco Resources Ltd (“Avanco”).
Avanco successfully transitioned from explorer to producer after discovering Antas, one of the world’s highest grade copper deposits in Brazil. Under Tony’s guidance, Avanco went on to develop Antas on-time and on-budget. *Avanco was acquired in 2018 by OZ Minerals Ltd* for ~$430m."

Weekly


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## finicky (22 May 2020)

Bahaha
12.41
*Request for Trading Halt* – Black Cat Syndicate Limited (BC8)
In accordance with Listing Rule 17.1, Black Cat Syndicate Limited (“Black Cat”) requests that an 
immediate trading halt be placed on its securities pending the release of an announcement 
regarding *a material transaction involving a potential acquisition*.
Black Cat anticipates that the trading halt will be lifted on or before market open on Tuesday, 26 
May 2020 by provision of an announcement to ASX regarding the material transaction.


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## finicky (28 May 2020)

*BC8* brings *SLR* aboard.

Black Cat to significantly increase Resources by 145% to 719,000oz by purchasing two projects from Silver Lake Resources (SLR). Consideration is a token amount of cash with the rest in BC8 shares issued to SLR. Silver Lake will become a substantial shareholder of BC8. The purchased projects are within trucking distance to BC8's primary project (Bulong). Both new projects contain mining leases.

BC8 Daily


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## finicky (26 June 2020)

'Nother all time high for BC8 on Friday. 
Homing in on the leadership of the June stock picking comp. Get *off* the green explod, access, Black Cat going for bronze

*BC8* All Data Dly


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## finicky (9 July 2020)

I just borrowed this from some bum spruiking his wannabe lifestyle exploration company but it made me think of Black Cat (BC8). Just a bit more noise ...

*"mining is like real estate, it's about location and timing"*

BC8 has recently stitched on more contiguous acreage to its Bulong tenements. It just goes on and on. The addition has been relinquished by Newmont plus some other entity and anyone following Northern Star knows what Newmont is capable of throwing away. The acquired acreage has two potentially fruitful faults running through it.

"location and timing":
The "timing" is a gold bull market, the "location" is BC8 being now the 5th largest land holder within a 50 km radius of Kalgoorlie. Black Cat's tenement are coloured yellow. As an aside, check out the pink tenements between the light greens of NST and the yellows of BC8 - that pink holding belongs to Horizon Minerals (HRZ) - I won't be buying HRZ, just interest.

Held
Plan to sell a few  BC8 soon


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## finicky (16 July 2020)

*BC8* @ 88c

BC8 has got off a placement priced at 0.82 netting the company about $10m.
New shares to be released to market July 22. Directors and Silver Lake Resources (SLR) participating.

Funds to be used for more drilling to get resources to one million ozs. Current resources 711,000 ozs. Funds Also for 'long lead' items for a processing plant. Not sure what that's about but an eventual processing plant could be well situated for other small resources in the area and extract higher margin from BC8's own ore, cf toll treatment. BC8 intends to commit to building the plant during June Half of next year. 

But far as I understand, open pit shallow resource mining will happen earlier at 'Myhree' shallow high grade deposit and be toll treated at a second party mill thus providing funds towards the eventual self owned plant.


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## finicky (7 October 2020)

Tony Locantro again. Surprising he first off mentions Black Cat Syndicate (BC8) which coincidentally put out a positive announcement today. He then goes on to mention a few of his long standing faves including SVY which he says he and his clients are accumulating mid 0.50's, others are MBK, RDM, GRL. 

BC8's announced an agreement to acquire more tenements straddling the 50km circle line from Kalgoorlie. They abut the Fingals tenement and are close to the Bulong field. This new agreed acquisition is large and I'd be surprised if BC8 will not now be the 2nd or 3rd biggest land holder around Kalgoorlie. 

The new acquisition holds the old Trojan open pit which will add a current resource of 2.1Mt at 1.7 g/t Au for 115,000oz and remains open along strike and at depth. This deposit was mined as an open pit from 2000-2004 for 125,000 ozs @ 1.97g/t. The operation ceased at a $400/oz gold price.

All just adds to the near certainty of BC8 either being taken out by Northern Star - Kanowna Belle mill close by - or building their own plant.


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## finicky (20 October 2020)

BC8 losing altitude again. I almost added today but now I'm viewing it as a significant break and unless dramatic news intervenes - something more exciting than another new tenement acquisition - lower prices seem likely. Maybe 60c or even down to the gap around 50c. I hope so, I will be adding if it happens. For perspective, down to 60c would be a ~50% retracement of the massive rally off the March low, down to 50c roughly a 62% retracement. An announcement regarding a resource upgrade or vivid new drilling results from the ongoing campaign could easily intervene though.

2 Year Daily


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## finicky (5 January 2021)

Is that the end of the corrective move for BC8? Candle outside my best fit downtrend line. So much happened back in Wuhan March - I have no recollection that this stock fell to 20c even though I was holding (still hold). What a bargain back then, not so sure now. I think I prefer Horizon (HRZ) - ex Intermin Resources, which I also hold. 

Daily


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## finicky (14 January 2021)

BC8 could be making a right shoulder here - made a high of 75c today but has just pulled back heavily.
Reluctant to have a buy sentiment on it as it's been well supported at this stage of development.
Finally got a bid filled today for its neighbour and rival HRZ. Took 21 days, including hols, and three bites to get 50,000 HRZ filled @ 0.10. Surely this indicates strength at the 10c level for HRZ?
Back to BC8, they're a bit over halfway through a 60,000 metre drilling program and attention has now turned to their east Kal tenements, in particular the area around Fingals Fortune pit.

Daily


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## peter2 (22 January 2021)

BC8 continues to produce reasonable drill results. 

I like this picture and caption in their latest set of results.


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## frugal.rock (22 January 2021)

peter2 said:


> I like this picture and caption in their latest set of results.



That's an absolutely stunning picture!
I would be happy to have that in framed print and on my lean to wall....
and the caption? 
Solid gold subtle Aussie humour.
Brilliant.



peter2 said:


> BC8 continues to produce reasonable drill results.



I note the money is leaving all forms of Crypto in droves.... gold prices expected to be back on the rising agenda soon enough.

Thanks Peter.


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## finicky (11 November 2021)

My anticipation of BC8 finding a bottom were 'premature' (otherwise called wrong) but I'll have another go after BC8 rallied 12% today. Probably just an exaggerated participation in the general gold stock rally as today's announcement doesn't look all that consequential.

Could be forming a messy rounding low off 0.50 which has retapped that massive spike down day in March. The spike down in March might have in itself been signficant as it filled a large gap that does not show in the range of the yearly chart. Wouldn't be surprised to see it pull back a little and resume completing the rounding.

Since the time it pinged a dollar in July 2020 BC8 has only made progress, albeit of a mild linear kind, with additions to MREs and assembling piecemeal the makings for a process plant. Don't forget that like HRZ, BC8's tenements are situated close to Kalgoorlie.

Held

Daily


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## finicky (22 December 2021)

Maybe 'this time' - the rally out of the rounding low failed to a vicious one month downtrend that dipped below support at 0.50. I haven't added as there was always something more tempting elsewhere in the goldie space (MGV, SSR, S2R, KWR). Still holding all the BC8 that I've bought.

A comment elsewhere might explain the recent uptick of buying - BC8 held up well today ^6%.  According to the poster BC8 has been backed by the guy from 'Gold Stock Pro' who is advising his followers to top up BC8 around this level, fwiw. If recent gains hold for the week we will see a weekly bullish engulfing candle.

BC8 management announced on 23 November another resource upgrade at their Fingals Mining Centre. The amount of gold resources increased from 1,185,000 ounces in early September to *1,238,000ounces*. The ore grade continued at 2.2 grams of gold per tonne of rock (g/t).
Still only 155m shares on issue, fully diluted. 

Weekly (today's gain to 0.56 not showing)


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## Telamelo (19 August 2022)

Aussie Goldie *BC8* @ 0.40c +12.68%  .. shaping up nicely today with a pick up in volume/momentum etc.

Please DYOR & diligence (as not intended as trading advice per say).

Cheers tela


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## finicky (19 August 2022)

Bullish Cup and Handle pattern? Volume not great but price well up. I've refused to buy any more BC8 since the pricks didn't even acknowledge my shareholder email with a highly helpful suggestion about how to run the business. Posted while waiting for fried chips in a strange town. Wonder what tech will be like in 20 years.

Held

Daily


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## Telamelo (19 August 2022)

finicky said:


> Bullish Cup and Handle pattern? Volume not great but price well up. I've refused to buy any more BC8 since the pricks didn't even acknowledge my shareholder email with a highly helpful suggestion about how to run the business. Posted while waiting for fried chips in a strange town. Wonder what tech will be like in 20 years.
> 
> Held
> 
> ...



Sorry to hear that @finicky re: BC8 not acknowledging/responding to your e-mail as "poor form" on their part.

What's BC8 cash position at the moment ? Are they in need of "extra funds" anytime soon ?


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## finicky (19 August 2022)

Said in mostly in jest @Telamelo. I asked them if they'd considered sharing a mill construction with their neighbour Horizon (HRZ) but the fact that they didn't respond meant that I stopped following them and didn't add shares whereas HRZ replied and I kept buying their shares.
Cash is pretty good for a junior and they still have a fair bit left after a cap raising to buy two mines and attached mills as offcasts from Northern Star (NST).

From June Qtrly


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## Telamelo (19 August 2022)

finicky said:


> Said in mostly in jest @Telamelo. I asked them if they'd considered sharing a mill construction with their neighbour Horizon (HRZ) but the fact that they didn't respond meant that I stopped following them and didn't add shares whereas HRZ replied and I kept buying their shares.
> Cash is pretty good for a junior and they still have a fair bit left after a cap raising to buy two mines and attached mills as offcasts from Northern Star (NST).
> 
> From June Qtrly
> ...



I see fair enough.. thanks very much for sharing those details as much appreciated. 

Good luck with HRZ (holding a small parcel myself from recent cap raise).  Cheers!


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## Telamelo (28 October 2022)

*BC8* more good news


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## Telamelo (3 November 2022)




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## Telamelo (3 November 2022)




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## Telamelo (8 November 2022)




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## Telamelo (9 November 2022)

Gold trading @ US $1,716 +$36 overnight .. which equates to AUD Gold price $2,632  

https://goldbroker.com/charts/gold-price/aud

P.S. Bought more *BC8* yesterday.. market depth looks bullish imo


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## Telamelo (14 November 2022)

*BC8* great news


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## Telamelo (14 November 2022)

Telamelo said:


> *BC8* great news
> 
> View attachment 149216



*BC8 *on the move @ 0.35c +9.38%


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## Telamelo (14 November 2022)

*BC8 *now @ 0.38c +18.75%


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## Telamelo (15 November 2022)




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## Telamelo (15 November 2022)

BC8 now @ 0.395c +11.27%


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## Telamelo (24 November 2022)

*BC8* fantastic news!


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## Telamelo (24 November 2022)

Telamelo said:


> *BC8* fantastic news!
> 
> View attachment 149658



BC8  @ 0.34c +11.48% (market depth ratio 1.81M buyer's vs only 268K seller's)


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## Telamelo (24 November 2022)

Telamelo said:


> *BC8* fantastic news!
> 
> View attachment 149658



Almost 2M volume on the bid wanting in .. nice


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## Telamelo (8 December 2022)

Shaw and Partners’ Davide Bosio says Gold continues to remain strong after all these years.​
“Gold has been my pick for many years given its place in the world and the ongoing effects of global uncertainty, geopolitical issues, real interest rates and limited new supply of the precious metal,” he said.

“Gold producers have been able to make relatively strong margins given current gold prices and the ability to replenish production with new mineable ounces is a theme that can propel M&A activity in the sector going forward.”

Black Cat Syndicate BC8 recently bought the Coyote & Paulsens mines from NST and Bosio says he’s a supporter & shareholder of BC8 in the junior gold space leading into 2023 & beyond.


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## Telamelo (9 December 2022)

*BC8* announcement this morning


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## greggles (9 December 2022)

Telamelo said:


> *BC8 *on the move @ 0.35c +9.38%






Telamelo said:


> *BC8 *now @ 0.38c +18.75%






Telamelo said:


> BC8 now @ 0.395c +11.27%






Telamelo said:


> BC8  @ 0.34c +11.48% (market depth ratio 1.81M buyer's vs only 268K seller's)




In spite of all the excitement, the BC8 share price hasn't really gone anywhere. It is exactly where it was a month ago, at 32c. Even this morning's announcement didn't get the needle moving. More interesting to me than daily share price movements is why this company isn't gaining any traction.


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## Telamelo (9 December 2022)

greggles said:


> In spite of all the excitement, the BC8 share price hasn't really gone anywhere. It is exactly where it was a month ago, at 32c. Even this morning's announcement didn't get the needle moving. More interesting to me than daily share price movements is why this company isn't gaining any traction.






greggles said:


> In spite of all the excitement, the BC8 share price hasn't really gone anywhere. It is exactly where it was a month ago, at 32c. Even this morning's announcement didn't get the needle moving. More interesting to me than daily share price movements is why this company isn't gaining any traction.



Fair point greggles.. nevertheless, still green in my portfolio as luckily averaged in a while back @ 0.288c as think it has huge potential going into 2023 & beyond imho 

Cheers tela


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## greggles (9 December 2022)

Telamelo said:


> think it has huge potential going into 2023 & beyond imho




Why?


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## Telamelo (9 December 2022)

greggles said:


> Why?



See link below for starter's as provides plenty of detailed information (still $13M in funding $$ left in the kitty with no debt whatsoever plus bonus that have own mill ready to go) 






						Home - Black Cat Syndicate
					






					bc8.com.au


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## finicky (9 December 2022)

Just to throw my 2c in, I am still a LT holder of 40,000 shares of BC8 and have seen most of my profit eroded away. As said in an earlier post I will not be buying any more because they didn't even make a formal acknowledgement of a illuminating email that I sent to the M.D offering the benefit (for free) of my strategic thinking for the advancement of the Kal East project  (1.2m oz Au resource half an hour from Kalgoorlie). Can't stand these arrogant bstds who treat shareholders as back seat hitch-hikers when legally we own the car.

I am guessing that many potential innestors/traders have been put off by the radical change of plans, with Kal East put on the back burner and the purchase of two mothballed mines with plants on care and maintenance that are far flung from Kalgoorlie. I guess it is plausible that manpower had become short and cost of starting a mine operation from sctratch had become inflated - that's if you choose to believe a haughty management and it's not really that they developed a lemon in Kal East. Their next door neighbour with a similar project has not inflamed the market with excitement either - Horizon Minerals (HRZ) (Held)
But if others are thinking like me, start-up crash and burns are fresh in their minds as well - Dacian (DCN) and Gascoyne (GCY)

Held
Spec Hold


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## Telamelo (15 December 2022)

finicky said:


> Just to throw my 2c in, I am still a LT holder of 40,000 shares of BC8 and have seen most of my profit eroded away. As said in an earlier post I will not be buying any more because they didn't even make a formal acknowledgement of a illuminating email that I sent to the M.D offering the benefit (for free) of my strategic thinking for the advancement of the Kal East project  (1.2m oz Au resource half an hour from Kalgoorlie). Can't stand these arrogant bstds who treat shareholders as back seat hitch-hikers when legally we own the car.
> 
> I am guessing that many potential innestors/traders have been put off by the radical change of plans, with Kal East put on the back burner and the purchase of two mothballed mines with plants on care and maintenance that are far flung from Kalgoorlie. I guess it is plausible that manpower had become short and cost of starting a mine operation from sctratch had become inflated - that's if you choose to believe a haughty management and it's not really that they developed a lemon in Kal East. Their next door neighbour with a similar project has not inflamed the market with excitement either - Horizon Minerals (HRZ) (Held)
> But if others are thinking like me, start-up crash and burns are fresh in their minds as well - Dacian (DCN) and Gascoyne (GCY)
> ...



BC8 trend analysis..  yet another bounce off strong support @0.30c 









						BC8 Share Technical Analysis | Black Cat Syndicate Limited
					

Current Technical Analysis and interactive chart for $BC8 stock / shares. See the current trading strategy, trend(s), rating and buy and sell signals.




					asx.swingtradebot.com


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## Telamelo (16 December 2022)

yet another BC8 announcement!


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## Telamelo (20 December 2022)

Aussie Gold price now @ $2,707 you beauty!


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## Telamelo (21 December 2022)

BC8 now @ 0.34c +6.25%    as we await jorc resource upgrade in Jan '23


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## Telamelo (21 December 2022)

BC8 finished @ 0.365c +14.06%









						BC8 Share Technical Analysis | Black Cat Syndicate Limited
					

Current Technical Analysis and interactive chart for $BC8 stock / shares. See the current trading strategy, trend(s), rating and buy and sell signals.




					asx.swingtradebot.com


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## rcw1 (21 December 2022)

Telamelo said:


> BC8 finished @ 0.365c +14.06%
> 
> 
> 
> ...



rcw1 was waiting for your post... great work Telamelo.  
Kind regards
rcw1


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## Telamelo (22 December 2022)

rcw1 said:


> rcw1 was waiting for your post... great work Telamelo.
> Kind regards
> rcw1



Yet another BC8 announcement!


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## Telamelo (30 December 2022)

BC8 announcement


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## Telamelo (30 December 2022)




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## Telamelo (3 January 2023)

BC8 potential breakout @ 0.395c +11.27%  
(buyer's outnumber seller's 8-1 ratio bullish market depth) dyor


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## Telamelo (3 January 2023)

picked BC8 in 2023 cy tipping comp. since am bullish on gold (with plenty of news flow/catalyst's expected in 2023) 






						Home - Black Cat Syndicate
					






					bc8.com.au


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## The Triangle (3 January 2023)

Telamelo said:


> View attachment 151031



Blackcat lost me when they said:




They must really take investors for mugs if they think photon re-assaying samples is going to give them a significant change.  Unless you are re-assaying for a different element, or you are re-assaying tailings from a mine shutdown in 1995, I question what you are actually trying to achieve 're-assaying' recently drilled holes? and does this mean that they are now sending off samples to two different laboratories and then picking the assays which come back with a higher grade?  If so, that is a slippery slope.

BC8 has some interesting prospects around the traps but there is still a lot of announcement hype.  They need to focus on getting something into production to create shareholder value.   The statements about growing their global resource to 2 or 3 million ounces are concerning. Doesn't matter if they have a trillion ounces - If it's spread across multiple deposits which are not being mined then who cares?  It's about making money.  BC8 trades at a premium because a lot of investors think these guys can get mining and unfortunately, I suspect they risk falling into the 'trap' of always assuming their share price should be higher because of 'who we are' and as a result may actually destroy shareholder value.  Cash balances last quarter were about $13 million, and they've now got 2 operations in care and maintenance.  Going to need to raise capital soon and they've already raised $65 million in the last two years.


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## Telamelo (4 January 2023)

BC8 finished @ 0.39c today .. whereby sp crossed above it's 200dma of 0.385c


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## Telamelo (Monday at 10:52 AM)

BC8 great start this morning @ 0.40c +5.26%   this time am expecting sp to push on higher from here imo

***not investment/trading advice per say


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## Telamelo (Friday at 8:50 AM)

Telamelo said:


> BC8 great start this morning @ 0.40c +5.26%   this time am expecting sp to push on higher from here imo
> 
> ***not investment/trading advice per say


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