BC8 - Black Cat Syndicate

[finicky]

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

 

[finicky]

'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

 

[finicky]

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

 

[finicky]

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.

 

[finicky]

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.

 

[finicky]

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

 

[finicky]

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

 

[finicky]

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

 

[peter2]

BC8 continues to produce reasonable drill results.

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

 

[frugal.rock]

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.

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.

 

[finicky]

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

 

[finicky]

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)

 

[Telamelo]

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

 

[finicky]

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

 

[Telamelo]

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
View attachment 145660

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 ?

 

[finicky]

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

 

[Telamelo]

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 QtrlyView attachment 145683

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!

 

[Telamelo]

BC8 more good news

 

[Telamelo]

 

[Telamelo]